Question

Business Ethics

Please answer the statement below

Recently, more and more enterprises are trying to develop an organizational ethical culture. Try to evaluate how to develop an ethical culture that can contribute to employee commitment, investor loyalty, customer satisfaction and company profit

Answer 1

It is said that a business come into existence to serve the need if the society ,there are some needs or expectations of every stake holders from a business organization these are that factors which motivate a entrepreneur to undertake a business unit .
Business ethics a form of applied ethics or you can professional ethics its code of moral principals which tells you what is wrong and what is right in other words you can say what a business should do and what they should not do .
According to the business ethics a business must be ethically responsible towards its ever stakeholders .They should not use any unfair means in their business practices .
There are some ethical responsibility which a business should follow to gain trust from its stakeholders
Toward employee
•   A business firm try to provide them better working condition where they can work freely .
•   They should pay fair wages and salaries to their employees according to their work.
•   There should be proper pay standards.
•   Their should not be any kind of partiality among employee on the basis of age,gender,race.
•   Fair job evaluation process
•   Equal chance to every employees
•   Necessary facility to their female employees.

Towards investors
•   Pay fair divided to every shareholders or investors.
•   Provide them proper information regarding functioning of the business .
•   Provide true information regarding profit of the company .
•   Inform them about annual general meeting of company.
•   They should always work for the interest of the investors rather then self interest.
•   Always try to provide maximum profit to every investors.
•   Try to bring transparency in working process.
Towards customers
•   Always provide them better quality products at reasonable price even in a seller’s market
•   Never cheat any customers.
•   Never try to misleading any customers by false advertising.
•   Never use any unfair means to gain profit .
•   Always provide them true information regarding product
•   They need to ensure that their should not be any adverse impact if our products over the health of the customers
•   They should not sell that kind of product that is not acceptable for the society even it is legal like wine etc.
•   Provide better service after sell .
•   They need to understand customers first and profit next.
By following the above ethical behaviour a business can earn the trust if it’s customers , investors and it’s employees.