Course Title: Business Ethics

Course Code: BUS224

Assignment

on

“Ethical Expectation in different group”

Submitted to:

MFT

Lecturer of

BBA Department

ASA University Bangladesh

Submitted by:

Rabya Khatun 073-12-0051

Shahajada syeem 073-12-0042

Sayed Kutub Shah 073-12-0059

 Table of Content

Introduction 3

Ethical Expectation in Different Group 4

Ethical expectation of Employers and Employees 5

Employers to Employees 6

Employees to Employers 7

Ethical responsibility of employees and employer 8

Employer's Responsibility 9

Employee's Responsibility 9

Ethical Expectations Buyers & Sellers 10

Customer or buyer 11

Consumer’s rights 12

Consumer’s Social responsibility 15

Sellers Rights in business 17

Seller’s responsibility 18

Conclusion 19

Recommendation 20

2
Introduction

Ethics is the concept of morals, one’s ability to choose between right and wrong, good and
bad, acceptable and unacceptable. The concept of ‘Business Ethics’ has come to mean
various things to various people. Velasquez (2009) identified business ethics as a specialized
study of moral right and wrong; whereas Garrett (1970) defined business ethics as the
relationship of business goals and techniques to specifically human ends. It studies the
impacts of acts on the good of the individual, the firm, the business community, and society
as a whole. Number of people who make their consumption decisions on the basis of ethical
values or expectations, such as environmentally friendly products and production methods,
labor standards (wage rates and working conditions), and human rights are increasing day by
day. There are many motivations for ethical business practice, but the apparent demand from
employer and employee or ‘ethical seller and consumers’ are the main. Many businesses
adopt ethical practices because this is what they believe the consumer wants. Indeed there is
growing evidence that consumers are becoming more discerning as a result of changing tastes
and expectations. The globalization of food sourcing and foreign travel has resulted in more
adventurous consumers, and also consumers who ask more questions about the source of their
food. Moreover, there is little information about what makes ethical consumers behave as
they do or they expect to do. This paper discusses current knowledge on ethical expectation
of buyer or consumers, sellers, employee’s employer and identifies issues that may be useful
in understanding ethical behavior and expectations of consumers. The study aims at
identifying the ethical expectations of consumers, sellers, and employee’s employer from
business. Here to identify the expectations of consumers from business in case of taking
consumption decisions,

3
Ethical Expectation in Different Group:

Ethics and ethical behavior are issues which are increasingly being focused on the business
community today. People are becoming more concerned about what is actually happening in
business organizations in the name of competition, growth, and profitability. Organizations
are crossing the red zone of ethics and ethical behaviors. A growing number of organizations
are constantly surveying and evaluating the unethical practice in business organizations
worldwide. The purpose of this paper is to examine the ethical expectation and how to
implement those ethical practices in business organizations. It is empirically proved that
ethical practices in business organizations help to create favorable relationships with other
organizations and can also establish long-term positive relationships with existing and
potential future seller and customers.
In ethical environment different types of group are work in an organization. Every people
have expectation from each other. Or an organization every person’s expectations are highly
from each other. Like as an employee expectation from employer or as director from a
manager. These are internal relation in organizations. External relations with organization are
supplier or buyer or buyer expectation from seller and seller expectation from buyer. When
we work in this assignment we find different types of group in ethical expectation.

Those are:

1. Directors and managers expectations.

2. Employees and employers expectations.
3. Buyers and sellers expectations.

But in these groups most important groups are Employees and employers expectations or
Buyers and sellers expectations. Basically we focus those groups’ expectations.

4
Ethical expectation of Employers and Employees

When employers start a business (or open a branch of an existing business), they require
employees to produce, administer, organize, publicize, sell, transport, maintain, repair, etc.
They advertise job openings, conduct interviews, and hire individuals based on qualifications,
requirements and wages. They usually provide training to newly-hired employees and make
them aware of the company's policies, rules and goals. They assign tasks according to the job
positions and employee profiles, and may offer vacations, health insurance coverage,
workers’ compensation, and other benefits. But one day, sooner or later, the employer may
serve an employee the dreaded pink slip, and terminate his/her employment without any valid
reason or cause. The employee becomes an ex-employee and, usually but not always, is
eligible for unemployment insurance. And his/her employment process begins again.

From the beginning of the employment to the end, the employee may have been treated
unlawfully, discriminated against, harassed, denied his/her due wages or benefits, made to
work in unsafe conditions, or wrongfully terminated. The relation of workers to others, and to
their tools, is an area difficult to quantify. We can speak of cordial and less cordial relations,
competitive and cooperative, supportive and destructive ones .We can also speak of
arrangements that produce certain types of relations - hierarchical as opposed to collegia1!,
arbitrary as opposed to rule-governed. We can further speak of treating people with respect or
treating them like things, and this can be pacified in greater detail. These are relations based
on attitudes.

5
Expectations to and from Employers & Employees

A number of traditional expectations from both the employers from the employees and the
also employees from the employers are listed in the table presented hereunder:

Employers to Employees

 Regular & timely attendance to the workplace.

 Efficient / skillful work attempts with a sense of belongingness.
 Quality performance with least rejections.
 Protection of organization's property from theft, misappropriation, overuse, or
reckless use or unauthorized personal or family use.
 Maximum utilization of working hours-honestly & efficiently.
 Upheld organization's goodwill.
 Organization's interests’ to-be ordered before personal interests.
 Maintain organization's trade secrets of any costs by piracy, espionage in spite of
persuasions by the outside forces including competitors
 Work should be accomplished to best interest of the company.
 Refrain from heavy drinking, heavy gambling in the work place.
 Adequate notice be served before leaving the job so that measures can be attempted
either to meet the grievances what made him leave the job or at leasi to find rightful
replacement in time.
 Work accomplishment should not be harmful, or injurious to the fellow workers /
employees.
 Avoid loose talks, political talks, very personal or .family gossiping in the offices /
factory premises.
 Takes no bribes, extortion & gifts in violation of fiduciary relationship with the
employers.
 Refrain from any type of insider trading, information selling and the like.

Employees to Employers

 Provision of satisfactory working conditions-safety, and security-health and hygiene

regular cleaning work place-disposal of waste and effluents-ventilation-proper
lighting-proper seating and lay out-control of temperature avoiding overcrowding

6
 arrangement of drinking water facilities-arrangement of latrines, urinals and spittoons-
fencing of machinery and inflammable chemicals-protection from moving machines-
one site emergency control measures-disaster control measures-protection from
hazardous substances inside the factory premises and their disposal outsets-maintain
health/medical records of the workers who are exposed to any chemical, toxic or any
other harmful substances which are manufactured, stored, handled and transported,
and make such records accessible to the workers-conform to the maximum
permissible threshold limits of exposure of chemicals or toxic substances in
manufacturing processes.
 Fair Wage & reasonable hour provisions. Fair compensation: Salary & wage
structure should permit to lead the employees healthful & contented life styles. Fair
wages to be decided on consideration of
[a] the’ productivity of employee,
[b] the prevailing rates of wages which is considered "just" in the industry in the same
or the neighboring areas,
[c] The adequacy of the workers income in. Terms of minimum standards of living ,
[d] the concrete possibility of helping the workers/ employees to a more adequate
income,
[e] Level of national income and its distributions, and
[f] The place of the industry in the national economy. Fair wage should ensure equity.
It is expected that the spread between minimum wages and highest salaries should be
reasonable and the maximum remuneration should have a ceiling depending on the
nature and volume of business, productivity, capacity, etc.

 Unions & Unionization: Workers be permitted to band together for the purpose of
bargaining with their employers on matters of wages, hours of work, and other
conditions of work/ employment. Representatives of the unions should be entitled to a
voice in desired business decisions.
 Must not be ordered/ persuaded/ forced for any illegal/ anti-state/ immoral/ unethical
involvement for actions inside or outside the work place.
 Equal opportunities: Minorities & disadvantaged ones should be treated justifiably.
Adequate benefits in terms of needs & comparable benefits j provided in others firms
of the same industry

7
  Medical facilities for employee and their family members, : maternity benefits,
protection against ill health [prevent L measures] health insurance, etc.
 Right to free speech and to privacy. It used to that employees, like children, were
supposed to be seen but not heard. Currently, most employees expect to be able to say
what they think about their jobs and companies without reprisals being taken against
them. Then there is the matter of employee records. Employees want to know what is
kept in their files and they do not want unauthorized people looking at them. There
are number of companies in the western world who allow their employee’s access in
their personal files to see that the information contained is correct.
 Right to information about what is going on in the organization
 Right to want the managers to be responsive to their j problems and complaints
 Adequate care be taken of the retired/ superannuated employees

Ethical responsibility of employees and employer

Employer's Responsibility

Both of the groups have some responsibility. Irt of all we point out some
responsibility of employer. Employers are required to ensure that their plant and
substances are in a safe condition and that their systems of work and the working
environment are safe. They must:

The employer can offer the employee a job identical to their current job or a job with
similar skills. The job must have similar pay, conditions and skill requirements.

 The employer must draw up a plan to decide who will be kept on and who will
be made redundant and why.
 The employee should be given a couple of days to respond after being told.
 The employer should consider any views or opinions expressed by the
employee.
 Both the employer and employee should consider any alternative work that the
employee could do or any ways in which the employee could stay in their
current job.

8
  Obtain up-to-date Materials Safety Data Sheets (MSDS) from their suppliers of
hazardous substances and ensure that this information is available to workers.
 Keep a register of all hazardous substances.
 Ensure that all chemical storage containers are suitable for the substance they contain
and are correctly stored and labeled.
 Provide information, instruction and training to employees or contractors who could
be exposed to hazardous substances.
 Monitor exposure levels and provide health surveillance where necessary.
 Assess and control all risks to employees or other persons who could be exposed to
hazardous substances.
 Maintain records of all risk assessment reports, instruction and training associated
with hazardous substances.
 Advice the local emergency service organization about storage, location and
quantities of any hazardous or dangerous substances kept on-site.
 You'll find more information on staff training and risk control in The answer section.

Employee’s responsibility:

Employees must cooperate with their employers in the action taken to comply with the Act or
Regulations. In particular, they should use or apply control measures as required and should
cooperate with assessments, training programs and other action taken to protect health and
safety. Employees who become aware of any situation or incident that could be a source of
danger to themselves or any other person must act immediately to protect their health and
safety, and report the matter to the employer or relevant health and safety representative.

 Work safely to protect themselves and others from injury. For example, they must
not:
 Move or deface signs
 Tamper with machine guards
 Behave in a way that puts others at risk.

 Report any workplace hazards. Everyone in the workplace shares this responsibility
equally.

9
  Obey all health and safety procedures, including correctly wearing all personal
protective equipment provided.
 Report any workplace injury, illness or near misses. It is important to notify
supervisors or employers of all injuries, no matter how insignificant they seem.
 Get to know emergency procedures/ and the location of the first aid kit.
 Ask questions to check or clarify any issues relating to previous training, tasks or any
issue that may affect safety in the workplace.

Ethical Expectations: Buyers & Sellers

Sellers whether producers or distributors cannot arrange to sell their products/ services in
order earn profit without reaching the buyers. On the other hand, buyers in order to satisfy
various kinds of their needs either to keep their existence or to raise their living standards
always look for some products/ services which they cannot manage to procure without the
services of the sellers whether they are , producers or distributors. Buyers and sellers are like
two teams of a game, fighting one with the other to win but the absence of one of the teams
make the play/ game impossible & unthinkable. It is, therefore, not only a healthy sign but an
essential task to care for the interest of opponent group in order to protect their own interest
and existence. Until the first quarter of the 20* Century sellers maintained their supremacy by
whatever means they could but since then buyers have been keeping them organized to
protect their interests, hence appears consumerism.

Consumers are beginning to emerge as a powerful pluralistic social institution. As the nation
has become industrialized, as products have become more complex, and distances between
consumer and producer have increased, consumers are forced to depend on producers more
than ever before for product reliability and for truthful product information upon which to
base purchasing decisions. Business has not always responded well to consumer's needs and
wants. As a result there has been an increasing amount of restrictive legislation. Courts, too,
have become progressively stricter in requiring producers to assume responsibility for
product failure. All in all the consumer movement poses a challenge for business: a challenge
to become more consumer-oriented, and a challenge to "do better"

The producer so to say the sellers must maximize the customers' satisfaction in order to make
repeat customers. The old doctrine of buyers care while buying has been changed over time
as sellers care. That means sellers must not sell unreliable, unsafe and injurious products and
price to be charged should not also be too high.

10
Customer or buyer:

A customer (also known as a client, buyer, or purchaser) is usually used to refer to a current
or potential buyer or user of the products of an individual or organization, called the supplier,
seller, or vendor. This is typically through purchasing or renting goods or services. However,
in certain contexts, the term customer also includes by extension any entity that uses or
experiences the services of another. A customer may also be a viewer of the product or
service that is being sold despite deciding not to buy them. The general distinction between a
customer and a client is that a customer purchases products, whereas a client purchases
services.

Customer is two types:

1. External Customer
2. Internal Customer

Ethics and external customers

External customers are not a part of an organization, but they greatly influence the
organization’s activities. External customers can be defined as the ones who purchase, use
and influence the sale of products or services of a company. Perception of external customers
is very important to the organization. The interest in business ethics, corporate governance,
sustainable business practice, and integrity has grown markedly in the past decades. As a
number of unethical business practices have been reported in newspapers and these scandals
are reducing the confidence level of not only the shareholder but also other stakeholders;
ethical practices have become the most significant solution to the problem. Ethical practices
help organizations create values in business practices.

Ethics and internal customers

‘Internal customers’ means the employees of the organization: for example, employees from
other departments are considered as internal customers, they break down departmental
barriers. Fundamentally, an internal customer is anyone we count on or rely upon to complete
a task or a function or to provide us with information so that we can get our job done, and
anyone who counts on us to complete a task or function or to provide them with information
so that they can get their job done. Employee satisfaction is one of the key elements to be a
successful organization in the modern market. Employee dissatisfaction leads to employee

11
turnover, absenteeism, and affects employee motivation which in turn affects the quality of
the work. Organizational ethics can help to enhance job satisfaction and organizational
commitment, which can in turn reduce absenteeism and turnover. It is not only the
stakeholders who expect companies to pay greater attention to norms, values, and principles
but companies themselves are also acknowledging the importance of responsible business
practices. Ethical values would suggest something much more than a legal minimum, the
management behaviors would be more subtle than those required by the law. Employees who
feel a strong alignment with the organization’s values and know that they are supported can
react with strong motivation and performance which is crucial to customer approval.

Consumer’s rights:

After buying Customers is consumer. Because after certain time when buyers are buy
something from seller then anyone uses that thing. Customer or consumers has some right
when they buy a product. A good example of a consumer right, is the right to a refund or
exchange should an item fault be faulty or of un-satisfactory quality, on food and drink items
for example if any person read the back of the packet or bottle give anyone will normally see
a little bit labeled something like ‘not satisfied? write to us at …’ it normally lists an address
and some instructions as to what you should do if the quality of the item is not as it should be,
usually when returning an item of this sort you will receive a refund of your money or
vouchers for the same product in the post.

A. Major Rights of Consumers

Consumer advocates claim that the balance of power lies with sellers and that business has
failed to exercise responsively the massive power it has. A key reason for the imbalance of
power is that consumers today arc more dependent on business for product quality than ever
before. The rights of the consumers if could be adequately honored by the sellers, the position
would have been better However, the major rights of consumers include:

The Right to Safety: The right implies protection against the marketing of good which are
hazardous and harmful to health or life. Such a right has motivated numerous laws to protect
consumers when they cannot be expected to have sufficient knowledge to protect them. Thus,
laws pertaining to foods, textiles, drugs, cosmetics and tires demand that the products not
endanger health or health or safety and that if the potential exists. For dangerous misuse a
clear warning is provided. These developments in product liability law set the general

12
framework within which manufacturers must operate today. In addition, a number of
government agencies have become involved in regulating product safety. Despite the obvious
public benefits of safety regulations, critics worry about the economic costs

In regard to safety regulations, three comments are in order:

[A] The safety of some products or some features of products (such as a car's breaks)
affects not just the consumer who purchases the product but third parties as well.

[B] Anti-paternalism gains plausibility forms the view that individuals know their own
interests better than anyone else and that they are fully informed and able to advance those
interests.

[C] The controversy over legal paternalism pits the values of individual freedom and
autonomy against social welfare.

Right to Product Quality

Most people would agree- that business bears a general responsibility to ensure that the
quality of a product measures up to the claims made about it and to reasonable consumer
expectations.

Right to be informed: The right to be informed is a fundamental economic interest of the

consumer. There is wide agreement that this right implies at a minimum that the consumer
should not be deceived. Just what constitutes deception is more controversial and fluid.

Right to choose: The major effort is directed at increasing the number of competitors and
insuring that competitors do not have understandings that are detrimental to the long-run
interests. Increasing attention is being paid to the economic role of advertising, especially its
potential for raising prices, profits, and barriers to entry, which can reduce the range of
choice.

Right to be heard: The rights to heard involves an assurance that consumer interest will be
considered in the formulation of government policy and in regulatory proceedings. The
difficulty is that the consumer movement is relatively amorphous and lacks the authoritative
spokesmen that labor, business, medicine, education, and other interest groups have.

The right to redress: Is now generally accepted that there is a fifth right to recourse and
redress, that is, to fair just claims. A variety of innovations, including free legal services for

13
the poor, consumer class action suits and arbitration procedures have substantially enhanced
this right.

The right to consumer education: This right incorporates the right to acquire knowledge
and skills needed for taking actions to influence factors which affect consumer decision,

The right to a healthy environment: The list of consumer rights has been further expanded
to include the right to a physical environment that will enhance the quality of life. Indeed,
consumerism has been defined broadly as an organized expression for an improved quality of
life.

There other areas of business responsibility - product quality, pricing, and packaging and
labeling -are equally important and taken equally seriously by the agents of consumer
movement.

Product Desirability:

The demand for high-quality products is closely related to a number of themes mentioned in
the discussion of safety. The moral concern, of course, is whether a product lives up to its
billing. Express warranties include assertions about the product's character, assurances of
product durability, and other statements on warranty cards, labels, wrappers, and packages or
in the advertising of the product. Implied warranties include the claitn, implicit in any sale,
that a product is fit for its ordinary, intended use. The law calls this the implied Warranty of
merchantability.

Other facilities: [a] More effective quality control procedures be established by

manufactures, [b] Improved communication methods be developed at all marketing levels, [c]
Pricing strategy be set on a unit basis to allow the consumer to make more realistic
comparisons, [d] Manufactures take the initiative in setting standards for safety, service, and
certification, [e] Better procedures be instituted whereby customer-seller-manufacturer
complains can be handled [f] Warranties for products be simplified and the distribution link
closest to the consumer be given greater autonomy in rendering the service these warranties.

Another type of consumer expectation in business, which are not maintain effectively in
ethical environment.

14
Consumer’s Social responsibility

Corporate social responsibility is a concept whereby organizations consider the interests of

society by taking responsibility for the impact of their activities on customers, suppliers,
employees, shareholders, communities and other stakeholders, as well as the environment.
This obligation is seen to extend beyond the statutory obligation to comply with legislation
and sees organizations voluntarily taking further steps to improve the quality of life for
employees and their families as well as for the local community and society at large. There
are four kinds of social responsibility: legal, ethical, economic and philanthropic.

Consumerism

Consumerism is a tool for social change. This concept is being used by some stakeholders as
a force for social change, based on the theory

Ethical consumerism

Positive ethical Negative ethical Consumer action

purchase behavior purchase behaviors Lobbying,

Buying goods with Boycotts, avoiding Direct action etc

ethical goods with unethical

characteristics
Figure: Types of ethical consumerism

That company makes decisions on the basis of consumer demand. This logic is evidently
constrained by the huge power of large companies which influence, if not create, consumer
demand through advertising and branding. However, consumer power may be used to ensure
that companies are accountable to society, ordinary citizens in their role as consumers can
make companies accountable.

Co-operative consumption

Sharing of costs in case of consumption of any product is becoming an increasingly popular

concept. Fractional ownership allows people to enjoy many benefits at a reduced price. This
concept allows the consumers to divide their choice among homogeneous people and share
the benefit proportionately. Online social networking, right to access in product related
information are making consumers more aware of sharing just about everything.

15
Exaggeration in advertisement

The act of exaggerating or overstating in making marketing effort by the producers and
marketers are allowed in advertising to use wildly exaggerated, fanciful or vague claims for a
product or service because they believe that nobody could possibly treat the claims seriously
or be misled by them. This practice is being widely adopted all over the world and possibly
making serious harm or at least cheating to the consumers. The consequence of the
government decision demonstrate that although consumers are able to identify exaggerated
claims as less credible than factual claims, their brand evaluations are inflated after exposure
to exaggerated claims. The explanation is that during the process of comprehension, claims
are accepted before being discredited. The temporary acceptance of the claim affects
memory, even after the claim is understood as an exaggeration.

Product safety

Product safety is the right to be protected against the marketing of goods which are hazardous
and harmful to health or life. Such a right has motivated numerous laws to protect consumers
when they cannot be expected to have sufficient knowledge to protect them. Thus, laws
pertaining to foods, textiles, drugs, cosmetics and tires demand that the products will not
endanger health or safety of consumers.

Deceptive packaging

Deceptive packaging is the creation of an impression that the enclosed material is more than
what it really is, in terms of either quantity or quality. This is intended to deceive the
purchaser and ultimately nothing but the malpractice in business. Major functions of a
packaging are providing accurate information and enticing someone to buy the product. On
the one hand consumers are motivated to buy the product on the basis of packaging and on
the other hand they are in doubt whether this product is good for them or not.

Sellers Rights in business:

Sellers acting as distributors of products/services are rendering beneficial acts to the general
members of the public who are popularly known as consumers. But these groups of people
while rendering such services enjoy some rights of market power as under:

1. Sellers have the right to introduce any buying incentive schemes they wish so long as they
are not discriminatory.

16
2. Sellers have the right to introduce any product in any size, style, color, etc. so long as it
meets minimum requirements of health and safety.

3. Sellers have the right to promote the product as they please as long as they avoid
discriminations which are harmful to competition.

4. Sellers have the right to promote the product using any amount of resources, media, or
message so long as no deception or fraud is involved.

5. Sellers have the right to alter the product offering at any time.

6. Sellers have the right to distribute the product in any reasonable manner.

7. Sellers have the right to limit the product guarantee or post-sale services.

The above list in not exhaustive but it serves to illustrate the relatively greater power of
sellers and the need to balance the rights and power of buyers and sellers.

Sellers’ responsibility:

Sellers have some responsibility in ethical environment. Those responsibilities are based on
their organization or their workplace. In some states, disclosure of defects is required as a
statement provided by the seller. Any defects that the property has, or any personal situation,
property encumbrance or neighborhood problem that affects the value of the home must be
disclosed. Disclosure can cover maintenance items such as the roof needs repairing over the
third bedroom, southern corner to garage door opener is missing. Other items for disclosure
could include anything from a death that took place in the home, to airplane noise overhead,
to zoning law changes in the neighborhood that could affect traffic, noise or values in another
way. Some areas that are important to cover in disclosure are who owns title to the home,
environmental influences, structural aspects, mechanical features, and plumbing. Other
disclosures could include broken locks, stains on carpets, and past pest infestations. Where
sellers' eyeballs really begin to spin is answering questions regarding settling, flooding, soil
conditions and hazardous substances. Many of these questions can be answered by having the
home inspected prior to putting the home on the market. it will give the seller a better idea of
the repairs needed to put the home in better marketing condition..

17
Conclusion:

Ethic is a conception of right and wrong conduct. Ethics tell us when our behavior is
moral and when it is immoral. Ethics deals with fundament human relationship how we think
and behave toward others and how we want them to think and behave toward others and how
we want them to think and behave toward us. Ethical principles are guides to moral behavior.
Many companies are concerned about issues and many are trying to develop approaches for
improving their ethics. Businesses have adopted a written code of ethics, which defines the
values and principles that should be used to guide decisions. For example, in most society
lying, stealing, deceiving and harming others are considered to be unethical and immoral.
Honesty keeping promises, helping others, and respecting the right of others are considered to
be ethically and morally desirable behavior. Such basic rules of behavior are essential for the
preservation and continuation of organized life everywhere. This paper has identified that
ethical practices and the proper implementation of ethical practices and expectations are very
important for organizational goodwill. It is also noticeable that an ethical organization’s
employees are more satisfied and loyal to the company than those of an unethical one. With
strong ethical enforcement, companies can build long term profitable relationships with their
stakeholders. On the other hand, a good number of cases of unethical practices are being
reported each year all over the world. The reason might be the wrong implementation and
communication of ethical standards. By nature, human beings are greedy. So it is not possible
to completely remove unethical practices. But it can be minimized through continuous
reminders.

18
Recommendation:

In the present business atmosphere, there are some organizations that are ethical and in some
organizations ethics are not practiced as rationally expected. Despite this type of mixed
attitude towards business ethics, it can be said that ethical trend will change an organization’s
internal and external reputation. In future, ethical considerations will move from individual
awareness to organizational practice for the purpose of better business strategy. It is
significant to have a code of business ethics for each and every company and the corporate
managers must adopt appropriate means to implement the contents of that code of business
ethics. There should have adequate emphasis on the implementation of the code of business
ethics in business organizations. To have a proper code of business ethics and to undertake
effective method of implementing business ethics can ensure success in the business
organization as well as to the society where it operates. Proper implementation of business
ethics can ensure satisfaction of all stakeholders of the business organization. It is the
ultimate desire of all stakeholders of a business organization that it will implement its code of
business ethics in the true sense. Future research may be conducted in this area as this is a
significant area of business environment.

19
Reference:

 http://www.google.com/imgres?imgurl=http://teenadviceblog.com/wp-
content/uploads/2010/04/consumer_rights.gif&imgrefurl=http://teenadviceblog.com/t
een-consumer
 http://www.osha.gov/Publications/osha3021.pdf
 http://www.mypersonnelfile.com/termination/employer-and-employee-relationship
 http://www.safework.sa.gov.au/contentPages/EducationAndTraining/HazardManage
ment/Chemicals/TheLaw/chemLawResp.htm
 http://www.landmarksettlements.com.au/
 http://realtytimes.com/rtpages/19990204_selleresponsiblity.htm

20