ETHICS AND ITS ROLE IN BUSINESS

Short Description : Ethics is a Greek word which means character or manners. Business deals with the values of what should be done and what not to be done in business. Every business has its own norms and it is upto the people who does the business to follow those norms and make their business meaningful.
Long Description : Ethics is a Greek word which means character or manners. Business deals with the values of what should be done and what not to be done in business. Every business has its own norms and it is upto the people who does the business to follow those norms and make their business meaningful.
When ethical behaviors are integrated with business, there comes integrity and trust among people and takes the business to heights.
ETHICAL ISSUSES FOR BUSINESS
There should be openness in communication and transparency so that there is no covertness in business. Business not only involves employers and employees but also the major contribution goes to customers who are the backbone of any business. Some ethical issues are to be considered in a business:
Product Safety Standards- The most important part of any business to ensure that they provide a good quality product. It is upto the manufacturer to make sure that all the products they manufacture are safe to use. Proper Certification should be given to all products that are being manufactured.
Advertising Standards- The products that are being manufactured should be advertised in a way that is being accepted by all kind of audience. Products that are banned should not be produced or advertised. The way of advertising makes a company or a business reach a large number of customers. When being properly advertised, lots of people come to know on the product and its importance.
Working Environment- Employees should be given a healthy and properly structured workplace, where they get a chance to express their ideas and get rewarded. When there are periodic reviews and motivation is given, they get a chance to mold themselves. When employees are given freedom to work, the employee morale increases and it creates high ethical standards in business.
Unauthorized Payments- There should not be any unauthorized payments in the form of bribery, under the table dealing etc. In general most companies try to get projects by getting hold of deciding authorities of any company, convince them by filling their pockets and get projects. This affects the business of both the companies
Employee’s Privacy- Every company should keep in mind that employees are not play dolls and they should respect their employees’ privacy. When employees are given freedom and their privacy is not disturbed, the standards of the company goes to the next level.
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