Importance of ethics in business


0
46 comments
  • Use of Resources: Society bestows upon businesses, the authority town and use land and natural resources. In return, In return, society has the right to expect that productive organization (i.e. business enterprises) will cater to the general interests of consumers employees and community.
  • Fairness: Society may also expect that business enterprises honour existing rights and limit their activities within the bounds of justice, equity and fairness.
  • Implied Contract: All productive enterprises can be viewed as engaging in an implied contract with the Society. So, under this “social contract” between society and business, the behaviour of business enterprises is guided by “Business Ethics”.
  • Corporate governance: in the process of corporate decision – making, managers contribute, consciously or unconsciously to the shaping of human society – it is not a choice between profits and ethics, but profits in an ethical manner. This has lead to the evolution of “corporate governance”.

 

Advertisement
The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]

Like it? Share with your friends!

0
46 comments
BMS Team

We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]

46 Comments

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube and Vimeo Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format