Contracts and

corporate ethics

Completed by: student of F-12 group

Ira Demchan

PlanAccession

1. Business Contracts

2. Corporate ethics

Conclusion

ACCESSION

Human beings are continuously engaged in some activity or other in order to satisfy their unlimited wants. Every day we come across the word ‘business’ or ‘businessman’ directly or indirectly. Business has become essential part of modern world. And in any field of business employees communicate with each other and agree on certain rights and obligations among themselves. So business partners conclude contracts of various kinds.

1.BUSINESS CONTRACTS

Contracts are an important part of business life. The business environment is full of agreements between businesses and individuals. Contracts also are legally enforceable in a court of law. Contracts often represent a tool that companies use to safeguard their resources.

Business contracts typically include a negotiation process in which various terms to which each party must abide are stipulated. The negotiation process may take days, weeks or months, depending on the contract and the contractual responsibility of each party.

Contracts also can include a process for making changes or addendums to the agreement. Businesses frequently use contracts to ensure that a certain level of service is maintained or that competing companies do not have access to specific economic resources.

Service contracts outline the specific duties a company will perform in a contractual agreement. These contracts typically are used when companies contract with other businesses to perform services such as maintenance, technical support or call-center operations.

Service contracts usually include information relating to prices for each service and the frequency at which the company will perform the services. Businesses use these contracts to ensure that they do not complete work without being compensated.

Businesses often use contracts to enforce non-compete agreements. Non-compete agreements prohibit individuals or other businesses from offering goods or services in the economic marketplace. These contracts create strategic relationships between two companies and allow them to provide unique goods or services to consumers.

2. CORPORATE ETHICS

As times change, so do social norms for personal and professional behavior, but that doesn't mean basic etiquette doesn't matter. Performance and quality are important, too, of course, but not exclusively. We sometimes forget that business is about people. There is no shortage of competent and reliable people in the business world and manners can make the difference.

Business ethics is the system of laws and guidelines by which business professionals and corporations operate in a fair, legal and moral fashion. Ethical issues include the rights and duties between a company and its employees, suppliers, customers and neighbors, its fiduciary responsibility to its shareholders.

Good manners

Always say your full name.

In a business situation, you should use your full name, but you should also pay attention to how others want to be introduced.

A handshake is still the professional standard.

Not only does this simple gesture demonstrate that you’re polite, confident and approachable, it also sets the tone for any potential future professional relationship.

Watch your language.

Verbal and written communications are often much less formal than in times past, but be careful to choose your words wisely. Of course, derogatory, rude or offensive language is unacceptable, but so is slang. While it may be commonplace in our society, it’s never acceptable in a professional atmosphere.

Don’t yell and scream at others.

Compassion and empathy will serve you much better to earn respect.

Be on time.

We’re all busy. Being punctual shows others that you value their time. Being late doesn’t mean that you’re busier than other people; it just means that you’re inconsiderate.

Don't cross your legs.

Both men and women do it, but it can be distracting and even too sexy for a professional setting. Crossing your legs is bad for your circulation because it increases the pressure on your veins.

Ladies – don’t wear revealing clothing.

Let others see your skills, not private body parts.

Don’t gossip.

It’s so hard sometimes to resist engaging in a little “harmless” gossip. It’s natural to be curious and interested in what other people are doing, but talking about someone who is not present is disrespectful.

Don’t eavesdrop.

Everyone is entitled to private conversations, in person or over the phone. The same goes for e-mail; don’t stand over someone’s shoulder and read their e-mails.

No phone during meetings.

When you’re in a meeting, focus on the meeting discussion. Don’t take calls, text or check e-mail. It’s disrespectful to the other attendees, not to mention, extremely annoying. It also makes meetings last longer because the participants keep losing focus.

Always say “Please” and “Thank you.”

This should go without saying, but even in a very casual professional atmosphere, this basic form of courtesy is still imperative. Today, sending a thank you e-mail is perfectly acceptable, but a handwritten thank you note is always a nice touch.

Please Thank you

CONCLUSION

The role of ethics in society can’t be overestimated because improvement in terms of this sphere has no boundaries. It deals particularly with entrepreneurship and business. Business ethics as never before should interfere in the business relationship of modern businessmen. Improving of the ethical standards of business should be provided by the appropriate education and upbringing. That is why in any business schools and universities it is important to treat the study of business ethics and education of future entrepreneurs with all responsibility.