AN ASSIGNMENT ON THE TOPIC OF RELATIONSHIP BETWEEN BUSINESS

ETHICS & CULTURE

Submitted by

Ashima khadka

LC00023000425

BBA 5th semester

Submitted to

Lecturer of Business Ethics

09-07-2023
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1. INTRODUCTION OF BUSINESS ETHICS & CULTURE

Business ethics refers to implementing appropriate business

policies and practices with regard to arguably controversial
subjects. Some issues that come up in a discussion of ethics
include corporate governance, insider trading, bribery,
discrimination, social responsibility and fiduciary
responsibilities. Business ethics ensure that a certain basic
level of trust exists between consumers and various forms
of market participants with businesses. For example, a portfolio manager must give the same
consideration to the portfolios of family members and small individual investors as they do
to wealthier clients. These kinds of practices ensure the public receives fair treatment.

Similarly, Culture can be defined as all the ways of life including arts, beliefs and institutions
of a population that is passed down from generation to generation. Culture has been called
"the way of life for an entire society." As such, it includes codes of manners, dress, language,
religion, rituals, and art. In some cultures, people may think it is wrong to place your elbows
on the dinner table, while in others it is totally acceptable. Some people may prefer drinking
tea and others coffee.

2. IMPORTANCE OF CULTURE IN BUSINESS ETHICS

Language is one of the most important parts of any culture. It is the way by which people
communicate with one another, build relationships, and create a sense of community. Culture
impacts how local values influence the concept of global business ethics. Each professional is
influenced by the values, social programming, and experiences he or she has absorbed since
childhood. These collective factors impact how a person perceives an issue and the related
correct or incorrect behavior. Culture is important in business ethics because it can support
important business objectives. A company's culture will be reflected in its dress code,
business hours, office setup, employee benefits, turnover, hiring decisions, treatment of
employees and clients, client satisfaction, and every other aspect of operations.

For example, employees might be attracted to companies whose cultures they identify with,
which in turn can drive employee retention and new talent acquisition. Fostering a culture of
innovation can be critical to maintaining a competitive edge with respect to patents or other
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forms of intellectual property. Similarly, culture can also play a role in marketing the
company to customers and to society at large, thereby doubling as a form of public relations.

3. RELATIONSHIP BETWEEN BUSINESS ETHICS AND CULTURE

 The relationship between business ethics and culture can be viewed from the angle
of the influence of a particular culture on the practice of business ethics.
 Culture impacts how local values influence the concept of global business ethics.
 Incorporation of morality and employee motivation towards ethical conduct could
be achieved with ethical culture within organizations.
 It focuses on social responsibility and fairness.
 Effective management of ethical standards, code of ethics, and best practices in
business.
 Employee loyalty and morale is boosted up by attaining a safe and fair work
environment resulting from the implementation of ethical standards.
 Employee performance is positively affected by these aspects, leading to the
individualistic motivation to maintain ethical behavior and contribute towards the
organization’s growth.
 Business and culture is more complex because it reflects an evolving view of
business in which the purpose is not solely generating wealth but also balancing
profitability and responsibility to the public interest and the planet.
 The interpretation of right or wrong differs between cultures since the values and
ethical standards of each culture are diverse. Thus, levels of compliance and
integrity could be at different levels depending on the culture where the
organization is carrying on operations.
 Profit maximization is achieved through the implementation of effective standards
of ethics to comply with regulations and mitigate risks. Hence, the liabilities due
to lack of compliance and safety could be reduced when a good working
environment is created.
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4. HOW LOCAL CULTURE INFLUENCE BUSINESS ETHICS?

Local culture impacts the way people view the employee-

employer relationship. In many cultures, there are no clear
social rules preventing discrimination against people based
on age, race, gender, sexual preference, handicap, and so
on. Companies use it as a tool to make sure managers,
employees, and senior leadership always act responsibly in
the workplace, both with internal and external stakeholders.
It is no surprise it applies to all aspects of business conduct. It is relevant to the behavior of
individuals and entire organizations. Companies and their employees routinely try to balance
ethical behavior with business interests. There is no surprise some ethical requirements for
businesses are regulated by law: environmental regulations, the minimum wage, restrictions
against insider trading, etc. Even within a specific culture, individuals have different ideas of
what constitutes ethical or unethical behavior. Each professional is affected by the values,
social programming, and experiences he/she has absorbed since childhood. There is a
difference between ethical behavior and standard practice.

For example, it may be acceptable to discriminate in certain cultures, even if the people in
the society know that it is not proper or fair. With increasingly diverse domestic, global
markets and the spread of consumerism, corporations consider the ethical implications of
globalizing their business operations. It is because their values challenge the reality of the
cultures of other countries.
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5. CONCLUSION

Ethics begins at the highest level that implies that anyone in charge should work and live
ethically to give more people who work for them a prime example. It is important to develop
ethical behavior throughout the corporate world to build confidence and to provide a sincere
products or services. A business is a collection of different proprietorships. Ethics is issues of
right, wrong, fairness, and justice. Therefore, business ethics places it focus on ethical issues
that arise in the commercial world. Culture refers to the symbols, language, beliefs, values,
and artifacts that are part of any society. Because culture influences people's beliefs and
behaviors, culture is a key concept to the sociological perspective.

These beliefs are centered around one’s ethical values based on how an individual was
trained. To maintain these values, one must continue to seek new way to uphold ethical
principles, and in so doing, seek professional growth are the advantages to build strong
customer loyalty, improve company reputation and to reduce turnover for employees. A
business is a collection of different proprietorships. Ethics is issues of right, wrong, fairness,
and justice. Therefore, business ethics places it focuses on ethical issues that arise in the
commercial world. A commitment to business ethics helps to establish trust, loyalty, and
respect between the business and its customers, employees, investors, and others, helping to
create a more positive work environment and generate confidence in the company.
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6. REFRENCES
 Jennifer Bissell-Linsk, “Nike’s Focus on Robotics Threatens Asia’s Low-Cost
Workforce,” Financial Times, October 22, 2017.
 http://www.americanheritage.com/content/24-swindle (accessed December 5, 2017).
 https://www.ft.com/content/585866fc-a841-11e7-ab55-27219df83c97 (accessed
December 26, 2017)