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Business Ethics

Business Ethics



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Published by simply_coool

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Published by: simply_coool on Jul 23, 2009
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A.15 Ethics
Ethics refers to a system of moral principles a sense of right and wrong, andgoodness and badness of actions and the motives and consequences of these actions.
As applied to business firms, ethics is the study of goodand evils, right and wrong and just and unjust actions of businessmen.
Ethics is a body of principles or standards of human conduct that govern thebehavior of individuals and groups. Ethics arise not simply from man'screation but from human nature itself making it a natural bodyof laws fromwhich man's laws follow.Ethics is a branch of philosophy and is considered a normative sciencebecause it is concerned with the norms of human conduct, as distinguishedfrom formal sciences such as mathematics and logic, physical sciences suchas chemistry and physics, and empirical sciences such as economics andpsychology
Ethics is seen as an individual’s own personal attitude and a believeconcerning what is right or wrong, good or bad
. It is important to note thatethics reside within individuals and that organization doesn’t have ethics.People have ethics.
Consequently, its definition and understandingvaries from person to person.
These are not absolute, but are relative.Ethical behaviors are in the eye of beholder. What is right or wrong is apersonal individual matter, but is still influenced by socially accepted norms.
Right, and proper and fair are the ethical terms
. It expresses a judgmentabout behavior towards people they felt to be just. Ethics are useful tools for sorting out the good and bad components within complex human interactions.Business ethics does not differ from generally accepted norms of good or badpractices. If dishonesty is considers to be unethical and immoral in thesociety, then any business man who is dishonest his or her employees,customer’s shareholders, or competitors is unethical and immoral person.Businessmen should not try to evolve their own principles to justify ‘what isright and what is wrong’
A.16 Formation of ethics
An individual’s ethics are formulated through the operation of forces in theindividual’s environment. These are discussed in the succeeding paragraphs.
Family influences
The formation of ethics begins when the individual is a child. Thus the familyenvironment has a significant influence in determining what the child learnsabout good and bad, right and wrong.
Peer influences
As the child develops contacts outside the home through home, school,play and work, peers exert considerable influence on the individual’s ethicalbeliefs.
As a person matures and develops as a human being, he or she will beexposed to many critical experiences that will be affect his or her ethicalstandards.
Values and morals
One’s ethical standards are also greatly influenced byvalues and morals.People who place high value on money and material possessions may nothave strong ethical standard regarding behaviors that facilitate theaccumulation of that wealth.
Situation Factors
People often change their ethics in response to unknown situational factors.An employee, who is threatened with loosing a job that has been held for years, may commit unethical acts in order to save the job.
One of the oldest sources of ethical inspiration is religion. More than 1,00,000different religion exist across the globe .Despite doctrinal differences, themajor religion coverage on the believe that ethics is an expression of divine
will that reveals the nature of right and wrong in business and others walks of life.
The legal system
Laws are rules of conduct, approves by legislatures, that guide humanbehavior in any society .They codify ethical expectations and change as newevils emerge. But law cannot cover all ethical expectation of society.Whenever ethics the law codifies, itis binding on businesses. The societyexpects businesses to abide by the law. Obeying the law is presumed to beethical behavior .Law breaking in business is common. Taxes are evaded,hundred of employees die because of occupational disease, many perishbecause of industrial accidents, and million others receive disabling injurieson the job. The blame for these death and injuries had to be shared byemployees and employers who fail to adhere to occupational health and
safety laws. Consumer suffer because of poor quality and highpriced products by the supplied by the businessmen .Businessesthat degrade the environment by disregarding environmentprotection laws cause misery to the society.
Ethics is important to business in general and HR in particular, for severalreasons as stated below:

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