NATIONAL UNIVERSITY

Term Paper
On
Business Ethics and Social Responsibilities of Business Growth
And
Covering Ethics during COVID-19 Corona period in Bangladesh

Supervised By:
Utpal Chandra Shil Submitted by:
Assistant Professor Sanjida Razzak
Department of Accounting Program: MBA [Prili]
Govt. City College, Chattogram Class Roll: 30
Session:2017-2018
Department of Accounting
Govt. City College, Chattogram
Date of Submission: 05-May-2020
 Thesis Paper on:
A study on the Business Ethics and Social Responsibilities on
the perspective of Business growth as well as social welfare
And
A study on covering Ethics practiced during COVID 19
CORONA period in Bangladesh
Table of contents
CHAPTER:01
Introduction
1.Abstract:
❖ The concept of ethical behavior and Corporate Social
Responsibilities have become to the fore in recent years in both
developed and developing countries as a result of growing sense
of corporate wrong doing. These two concepts can bring
significant benefits to a business. The paper addresses the concept
of business ethics and corporate social responsibilities. From the
perspectives of MBA students and managers, it come out that
business ethics and social responsibility are very important for
organizational growth and success.
2.Introduction:
❖ Business ethics can be defined as written and unwritten code of
principles and values that can govern decision and action within
the company. Business ethics is an art or science on maintain
harmonious relationship with society. Ethical behavior and
corporate social responsibilities can bring significant benefits to a
business. The partly accounts for the reason why the concept of
Corporate Social Responsibility [CSR] has continued to grow in
important and significance [Carroll & Shabana,2010]

➢ KEYWORDS: Business Ethics, Corporate Social

Responsibility, and Business growth
 CHAPTER:02
Literature Review

▪ Literature Review: The concept of Business Ethics and Social

Responsibilities are often use interchangeable, although each
has a distinct meaning [Carroll,1989; Daft,2001; Shaw & Bary,
1995]
Ethics set standards as to what is good or bad in organizational conduct
and decision making [Sexty,2011]. In the business setting being ethical
means applying principals of honesty and fairness to relationships with
coworkers and customers [Daft,2011]
▪ Business ethics or corporate ethics is an umbrella term that
covers all ethics related issues that come up in the context of
doing business. [Sexty,2011]
▪ The growth of business organizations relies on its sound ethical
code of conduct set to guide both management and employees in
its daily activities [Steve, Steensma, Harrison & Cochran, 2005]
The advantages of ethical behavior in business include the following
[Mitchell,2011]:
1.Build customer loyalty
2.Retain good employees
3.Positive work environment
CHAPTER:03
Details of the subject matter
❖ Business Ethics: Business ethics are codes of values and principles
that govern the action of a person, or a group of people regarding
what is right versus what is wrong [Levine ,2011;
Sexty,2011].Business or corporate ethics is a form of applied ethics
or professional ethics that examines ethical principles, and moral or
ethical problem that arise in a business environment.
▪ There are three levels of ethical standards that is law, policies
and procedures, and moral standards of employees:
▪ The law, which defines for society as a whole those actions that
are permissible and those that are not.

▪ Organizational policies and procedures, which serve as specific

guidelines for people or employees.

▪ The moral standards that employees take when they encounter a

situation that is not governed by law or policies and procedures

❖ Corporate Social Responsibilities: Companies or

corporations are facing increasing demands that, they look
beyond their own interests and prioritize those of the
societies in which they operate. Because business host their
operations within society and in return, society expects
business to show responsibility for aspects of their
operations.

▪ Corporate Social Responsibility [CSR] can be

understood as an integrative management concept
which establishes responsible behavior within
company, its objectives, values and competencies and
the interest of stakeholders. CSR refers to the
responsibility of enterprises for their impacts on
society, and the consequences for the integration of
social, environmental, ethical, human rights and
consumer concerns into business operations and core
strategy.

The concept of Social Responsibility is open expressed as

the assumption of voluntary responsibilities that go
beyond the purely economic and legal responsibilities of
companies. Specifically, CSR refers to the selection of
institutional objectives and evaluation of results, not only
by the criteria of profitability and welfare organizations,
but by the ethical standards or judgments of social
desirability.
 ▪ The concept of CSR has generated considerable debate
in recent decades. Carson [1993:3- 32] explained that,
managers are put in the place of unelected officials,
when they participate in CSR, hence support has been
significantly provided to the concept of corporate social
responsibility. Corporate social responsibilities has
both economic and legal components for the firm.

➢ ECONOMIC: It is important to perform in a manner consistent

with maximizing earnings per share.

➢ LEGAL: It is important to perform in a manner consistent with

expectations of government and law.

▪ Now, CSR is increasingly become a global practice

with business based in different countries tending to
pursue approaches that reflect their particular of
political, regulatory and financial systems, culture,
history etc.

▪ In a study with MBA students from European and three

North American Business Schools, it was found that
reputation related attributes of caring about employees,
environmental sustainability, community relations, and
ethical products services are important in job choice
decisions. According to the authors, a significant
percentage of the students sample was willing to forgo
financial benefits in order to work for an organization
with a better reputation for corporate social
responsibility and ethics.

CHAPTER:04
 Analysis and Findings

❖ METHODOLOGY: The methodology, methods of data

collection and analysis are the processes that inform an
approach to research [Cohen et al….,2007]. The research
process of this study is quantitative since it involves primary
data collection through the use of a questionnaire and
numbers and the findings are presented in the form of graph
and tables, to convey a sense of solid and objective
research.

▪ Every year, students of MSM re exposed to major

corporate scandals through annual seminars and
workshops, since Corporate Social Responsibility and
business ethics from an illegal part of this programs.

▪ In order to get samples for the various categories of

participants, two difference techniques of non-
profitability sampling were used [i.e., Saunders et
al…2007]

▪ The email addresses of the MSM, MBA alumni were

collected from an alumni office and each manager
invited through a letter to participate.

❖ Data Collection: The study made use of both primary and

secondary sources of data. Online surveys using
questionnaires were administered to the managers and
electing their views on business ethics and CSR.

➢ Discussion: As shown in the data, business ethical

behavior can lead to a positive customer and employee
relations. Specifically, it was revealed that having and
ethical code and training on that code is important for
business growth.
 A Study on covering Ethics during
COVID-19 Corona Period on Bangladesh
❖ Corona virus disease 2019 [COVID-19] is an infectious
disease caused by severe act respiratory syndrome
Coronavirus 2 [SARAS-COV-2]. The disease was first
identified in December 2019 in Wuhan, the capital of China’s
Hubei province, and has since spread globally 2019-2020
Corona Virus pandemic. As of May 3, 2020 more than 3.44
million cases have been reported across 187 countries and
territories, resulting in more than 2,44,000 deaths. Right now,
Corona virus spreads on Bangladesh accordingly. And the
whole country has lockdown because of this virus. These
Corona Virus has affected the whole country as well as
worldwide business growth and business ethics.

❖ Impact on systems:
COVID-19 is pushing the companies to rapidly operate
in new ways and systems resilience is being tasted as never before. As
business juggle a range of new systems priorities and challenges business
continuity risks, sudden changes in volume, real time decision- making
workforce productivity and security risks. Leaders must act quickly to
address immediate systems issues and lay a foundation for the future.

➢ Some impact on Bangladesh Economy:

▪ The whole globe is going under a devastating threat of economic

depression and impact of COVID-19 pandemic. Almost no country
can deny the fact the propelling to the economic ramification of this
disease suggesting a confirmed apropos plan to recuperate any
unavoidable circumstance in forth coming economic arena.
Bangladesh with no exception is also capitulated under a significant
 threat of economic disparity navigating a colossal crisis during and
after the epidemic.

▪ Bangladesh will face an economic shock by declining export and

tourism revenue in a large scale due to restricted export policies and
travel bans. All Government and Non-government institutions need
to set up cloud based work at home facilities for smooth operation
during such emergencies.

▪ Few weeks ago, people of Bangladesh were living

peacefully, doing their jobs perfectly, the economic
growth projections were cherry and the financial
market were tolerable. But the Novel Coronavirus or
COVID-19 has brought a dramatic slowdown in the
overall life style and economy of the world where
Bangladesh victim too. As time went by, the
economic impact of COVID-19 has proved to be
costlier than expected.

▪ Since the attack of this virus in Bangladesh is a very

recently identified case with very low scale questions
may arise whether this will affect us economically.
The answer is very simple. When giant economies
like US, China, Germany, France and Italy are
affected the rust of the world will not be spared from
the blow as these economies.

▪ This virus will bring economic shocks. Tangible

economic shocks can be categorized in two;

➢ Firstly, purely medical shocks as the affected person s

cannot contribute to GDP
 ➢ Secondly, the economic impact of public and private
containment measures things like school, office and
factory closures, travel restrictions and quarantines.

▪ On this random situation, some organizations like BRAC, IEDCR

are helping people to get rid out of this problem. For example, the
Asian Development Bank[ADB] (2020) predicts that in hypothetical
worst case scenario Bangladesh will lose approximately $3 billion in
its GDP(1.10 percent decline) and there will be job cuts for around 9
million people.

CHAPTER:05
Conclusion and Recommendation

❖ Conclusion: The objective of the study was to determine students

and managers perceptions on business ethics and CSR in relation
to business growth. Corporations are facing increasing demands,
that they should look beyond their own interests and prioritize.
[Broomhill,2007]
▪ The study showed that many of the MBA students and managers
perceive business ethics and social responsibility as important for
organizational growth and success. Specifically, they consider
business ethics to lead to positive employee, customer and as well as
community relations. It is therefore, important business schools and
professionals in the corporate world turn their attention to these
factories, since they are critical components in their training and
practices.

▪ At last the topic on COVID-19, the statistics shows the predicted

lethal impact of COVID-19 on Bangladesh economy. On this
situation, government should be spending first directed to the health
sector for supporting all essential expenditure on prevention,
containment and mitigation of the virus, including higher overtime
pay and better working environment conditions as well as research.
Finally the government, oppositions, the NGOs, the other social
 organizations, the business people, the financial and non-financial
institutions, and the people of Bangladesh should come forward and
work together to handle this pandemic and minimize both the
economic and non-economic losses. Our study is however without
limitations. These studies may also deploy both the quantitative and
qualitative approaches to research.

❖ Recommendation: Organization can manage ethics in their

workplaces by establishing ethics management programs that convey
their corporate values, codes and policies to guide decisions and
behavior.

▪ Employees must buy into the programs and

code of ethics for easy and proper
implementation. In addition every employee
want to be part of an organization where they
are recognized and made aware of the truth and
what is going on particularly in crisis
situations.
▪ CSR is not only relevant because of the
changing policy environment, but also because
of its ability to meet business objectives
[Carroll,1991]. As the business environment
gets increasingly complex and stakeholders
become vocal about their expectations, good
CSR practices can only bring in grater benefits.
Additionally, a well managed CSR creates
social and environmental value, while
supporting a company business objectives and
reducing operating costs and enhancing
relationships with key stakeholders and
customers [Rangan, Chase & Karim,2012].