Ethics In Business and Business Development

Business Ethics-Values development

This essay is about business ethics and discusses values development according to the ethical perspective. This paper uses sources in APA form.

Introduction:

The word ethics is taken from Greek word "ethika" which means character. Philosophically speaking ethics is a social science dealing with human moral and conduct and Business is providing services or goods for monitory gains. Philosophers and religious leaders created code of ethical conduct to improve the morality of mankind. The Ten Commandments given by God to Moses on Mount Sinai has become the basis of ethical conduct. From the inception all acts of man in any society are controlled by ...

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It is true that over a period of fifty years the business has become the most dominant group on the planet. So the business as a whole should take the responsibility of creating a socially responsible corporate sector. It is said good business ethics is "doing well while doing good"

In the global economy business houses today are giving more and more importance to business ethics. For this purpose different companies have put forward different code of ethics for their employees. Most of these are based on the old four P's, Purpose, Principles, Practice and Performance, which provide the structural framework for it.

Purpose; making maximum profit does not support the idea of an ethical business for the investor or worker because it fails to recognize the responsibility of betterment of mankind on this planet. For a business house to work on ethical line it should take care of the social as well as environmental factors.

Principles; The principle in the mind of the ...

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a need to maintain a good relationship with employees, customers, community, shareholder, suppliers and environment to find the perception of each of these, to realize where the company stands now, to plan where it should be and how to get there.

To make its ethics clear to its staff and its clients at this moment it is widespread for the companies to have a well-defined code of conduct or ethics. Different companies may give importance more to one aspect or the other or may even express its code of conduct differently but gist is almost the same. Moral values in any culture are almost the same throughout the face of the earth everybody gives significance to trust, honesty, integrity ...

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PAPER DETAILS
Added: 2/2/2016 07:34:26 AM
Category: Business
Type: Premium Paper
Words: 2609
Pages: 10

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