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Define what business ethics is?

Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization’s culture sets standards for determining the difference between good and bad decision making and behavior. In the most basic terms, a definition for business ethics boils down to knowing the difference between right and wrong and choosing to do what is right. The phrase 'business ethics' can be used to describe the actions of individuals within an organization, as well as the organization as a whole.

Explain the importance infortance of business ethics?
Business ethics is especially important in dealing with customers. Maintaining integrity in the customer facing side of your business is crucial to building client relationships, to assisting the overall branding efforts. Likewise, it's an important step in minimising returns and protecting business goodwill, which will have a tangible effect on the success or otherwise of your business. Ethics wise, it's also important to consider how you deal with customer issues and customer service. While some businesses are prepared to sacrifice customer service for pound signs, there is not only a sensible business reason for providing adequate support but also strong ethics and moral reasons for providing help and assistance to your customer base. Ethics is no doubt an important business subject for any entrepreneur to study, but it also has a wider application throughout organisations. One man's concept of what is ethical and for the best may be completely different from another man's concept, and so it's important to establish a collective set of ethics that represent the entire organisation rather than just adopting a piecemeal approach. This can be installed through training, through creating business policies and even through careful selection at the HR stage, although it's important that there are also enforcement mechanisms within the business concerned, and that ethics remain a forefront consideration in day-to-day trade to ensure a unified, morally sound approach to doing business.

Describe the relationship between ethics? The relationship between business and ethics is intrinsically entwined. A successful company is one which can effectively recognize and cultivate the relationship which exists between the two. Businesses that exhibit and promote strong corporate codes of ethics are more prosperous in the long run because they show a commitment to an expectation of sound moral behavior. This demonstrates a dedication to society, customers, employees and the business itself. It also enhances a company's reputation if they become commonly known as an ethical company, and this brings more value to the organization. Identify the limitation of ethics and business? 1. Limitation to one target: The focus on one or a few functions - the limitation to the core competency - is almost always an advantage. (s. Cools/Van Prag) That is surely true - but causes a lot of problems for all important functions that are not of interest to the business: Even if the is no excessive exploitation, the economical valuing forces to discount future events, be they goods or damages.

and taxes. that only very small room for ethical engagement of individuals is left.e. i.[2][dead link] Its most extensive form is referred to as a command economy. the market economy. or command and control economy.instead of truth and convincing arguments 3. Use of cunning and prank. distribution.[5] Planners decide what should be produced and direct lower-level enterprises to produce those goods in accordance with national and social objectives. The limited freedom of business: That is not only true for business. central economic planning by the state or government controls all major sectors of the economy and formulates all decisions about the use of resources and the distribution of output. Player's ethics . [4] In such economies. Explain the main tenets of human responsibilities? Explain the aspects of controlling the free enterprice? Planned economy (or command economy) is an economic system in which the state directs the economy. Ethical "though shoulds" would have to be preceded by a factual ability. strategy and tactics . but does not compel.[6] Planned economies are in contrast to unplanned economies. Less extensive forms of planned economies include those that use indicative planning. That means that business-ethics can't demand the impossible from the companies. Günther Ropohl's central thesis is: Complex and highly developed risk-societies limit man in his use of freedom so much. where production.2. and investment decisions are made by the private owners of the factors of production based upon their individual interests rather than upon a macroeconomic plan. subsidies. Man is bereft of his capacity to act free and responsible. in which the state employs "influence.[3] centrally planned economy. grants.not religious ethics! 4. pricing. but for all people."[7] This latter is sometimes referred to as a "planned market economy Discuss the development of human conduct? .[1] It is an economic system in which the central government controls industry such that it makes all decisions regarding the production and distribution of goods and services.