Ethics In Business and Business Development

Want to read the rest of this paper? Join Essayworld today to view this entire essay and over 50,000 other term papers

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 ...

Get instant access to over 50,000 essays. Write better papers. Get better grades. Already a member? Login

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 ...

Succeed in your coursework without stepping into a library. Get access to a growing library of notes, book reports, and research papers in 2 minutes or less.

CITE THIS PAGE: