Page 1 :
|Objectives of Business Ethics, Objectives of business ethics evaluate human behaviour based on moral standards, which instruct people or organisations how to act morally at four levels - Personal,, internal, stakeholder and societal., 1.At personal level: At personal level, the objective should specify how people, should treat one another in the organisation, their obligation to the organisation and, how they should follow the rules and regulations of organisation.For example, they, should not misuse others' property, or that of the orgaisation, they should honour, their words etc., 2, At internal level: Ethical problems arise in the relations of the employees with, the organisation; fair employment contract, their rights and obligations etc. Only, fair practices should be encouraged among the employees and the management., Free and frank communication among the stakeholders should be insisted. This, will yield better productivity., Scanned by TapScanner
Page 2 :
Objectives of Business Ethics, 3. At stakeholder level: The organisation should follow ethical means in dealing, with customers, shareholders, financiers, suppliers, financial institutions and, various govt, departments., 4. At sociețal level: As an organ of society, a business may have ethical issues on, various grounds: a business can be run on capitalist terms or as a socialist model;, how the pay packages of the top brass differ from those of the last grade, how, discrimination based on caste, gender and creed is eliminated, how optimal use of, resources is ensured., Scanned by TapScanner
Page 3 :
Characteristics of Business Ethics, The following are the important features of business ethics, 1. A discipline: Business ethics is the principles, which govern and guide business, people to perform business functions. In that sense business ethics is a discipline., 2. It is art, science and both: Business ethics depicts the principles of business, behaviours, ethical standards, moral values, decisions etc. It is a science because the, principles are determined on the basis of observation and experimentation. It is an art, because it emphasizes practical application of principles., 3. Dynamic: It is dynamic. It continuously tests the rules and moral standards., 4. An ancient concept: Its origin is mainly concerned with the development of human, civilization., 5. Theological base: The base of business ethics is theology. The business ethics, becomes possible due to the theological principles such as sincerity, human welfare,, service, good behaviour etc., Scanned by TapScanner
Page 4 :
Characteristics of Business Ethics, 7. Based on social reality and customs: Business ethics is not based on emotion but is, based on the reality and social customs prevailing in business environment., 8 Relating To human aspect: Business ethics studies the activities, decisions and, behaviour, which are related with human beings., 9. Universal application: It has universal application because business exists all over the, world., 10. Develops personal dignity: The ethical principles develop the personal dignity.Many, of the unethical behaviour is arisen due to not giving dignity to individual., 11. Differ with Individual perspectives: Ethical decisions difTer with the individual, perspectives of different persons., 12. Keeps harmony: Business ethics keeps harmony between different roles, ofbusinessman, with every citizen, consumer, owner and investors., Scanned by TapScanner
