What are ethics

Ethics are principles by which

people conduct themselves
personally, socially or
professionally.

What are business ethics

They are rules based on moral principles
about how businesses and employees
ought to conduct themselves.
Most businesses are committed to:
Providing safe products
Creating jobs.
Treating employees fairly.
Protecting the environment
Being truthful about financial situation.

Different ethical standards

different
cultures/businesses/industries

Different issues that business ethics investigate:

Systematic issues- ethical

questions raised about political,legal
and other social systems within
which businesses operate
Corporate issues-ethical questions
raised about a particular company.
Individual issues- ethical questions
raised about a particular individual or
particular individuals within a
company.

Developing an ethical
environment
Moral considerations before profit.
Began from the grassroot of the
business.
Is the action legal?
Does it comply with our values?
How will it look in the newspaper?
If it is wrong not do it.
Keep asking until you get an answer.

Ethical code of practice.

Personal integrity: in dealing with
suppliers and in handling and firms
resources
Corporate integrity: forbidding
collusion with competitors and
predatory pricing.
Environmental
responsibility:minimize pollution and
maximize recycling
Social responsibility:provide genuine

7 principles of admirable business

ethics;

Be trustful
Keep an open mind
Meet obligations
Have clear documents
Become community involved
Maintain according control
Be respectful

General business ethics

Ethics of human resource
management
Ethics of sales and marketing
Ethics of production
Ethics of intellectual property,
knowledge and skills

Balance of
ethics

Advantages:

Marketing advantage
Public relation
Motivation of work
Significance of workers

disadvantages
Reduces profitability
Conflict with existing policies