functional areas of ethics and miscellaneous ethical issues in business
TRANSCRIPT
CORPORATE GOVERNANCE!!!
“Functional Areas Of Ethics In Business
& Miscellaneous Ethical Issues In
Business”
VAIRAKUMAR R
2nd M.Com A
No:117
ETHICS…..
The word Ethics is originated from the Greek word “ethos” which means customary or habitual conduct. Ethics is also referred to a philosophy. Ethics enables people to make a clear separation of the dos and don’ts in their life. Ethics is primarily concerned with the ascertainment of good and bad, right and wrong, justice and injustice, moral and immoral virtue and voice of the behavior and action of individuals.
BUSINESS ETHICS…
Business ethics is a discipline of the applied ethics that analyses the moral qualities of the Commercial activities. Business ethics is a branch of study deals with the principles, values and standards that describes right conduct in Business.
DEFINITION….According to the Business Dictionary, “ Business ethics is a system of moral principles applied in the commercial word. Business ethics provides guidelines for acceptable behavior by organization in both their strategy formulation and day-to-day operation”
Functional Areas of Ethics in Business….
1. Production Ethic
Adulteration
Production of harmful products
Inferior components and raw materials
Lack of information to customers on side effects
Unsafe and unhealthy packaging
Ignoring environmental standards
2. Marketing and Sales Ethics
Unfair pricing strategy
Creation of monopoly
Dumping
Non-disclosure of substantial risk
Deceptive communication
Poor after sales service
Substantial advertisement
Obscene advertisement
Unhealthy competition
3. Human Resource Management Ethics
Low salary and wages
Unsafe working condition
Discrimination
Child labour
Employee raiding
4. financial and Accounting Ethics
Embezzlement of cash
Window dressing
Creation of secret reserves
5. Research and Development Ethics
Use of animals for testing the new products
Inaccurate and incomplete testing of products
Patent and copy right infringement
Miscellaneous Ethics Issues in Business…
Bribery and Extortion
Insider trading
Theft and disclosure of trade secrets
Unfair related party transaction
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