2. BUSINESS
Business is defined as
i. any organization,
ii. a corporation
iii. a partnership or
iv. joint ventures
whose primary goal is to provide goods & services in
order to obtain a return on investment.
3. ETHICS
The ethics is originated from ‘ethos’, meaning
character or manners.
It a set of principles of right conduct.
It is a culture refers to certain moral principle to
achieve desired goals.
4. BUSINESS ETHICS
Business ethics is the study of business
situation, activities, & decisions where
issues of right & wrong are addressed.
Business ethics is a form of applied ethics
that examines ethical principles & moral
or ethical problems that arises in a
business organization.
Without business ethics no organization
can run successfully.
5. BUSINESS & ETHICS
Business operates with in the society:
Business is a part or subsystem of
society. Business’s functioning must contribute
to the welfare of the society.
6. Society wants business to be ethical.
For example:
Parker Brothers voluntarily withdrew its
all time best selling toys when it found
that two children were chocked to death
by swallowing some of its part which
they never anticipated.
7. Business needs to function as responsible
corporate citizens in the country.
Business is that organ of the society
which creates wealth for the country. Hence,
narrow mentality & narrower goals & motives are
to be avoided.
Every business irrespective of size exists more
on ethical means.
Business needs to remain ethical
for its own good. Maximizing of profit is not only
satisfying.
8. Business should creatively find ways to become a
part of solution, rather than being a part of
problems.
Business that treat their employees with dignity &
integrity gain many rewards in form of high morale
& improved productivity. People feel good about
working in an ethical company.
