BUSINESS ETHICS
- ETHICS: Ethics is a system of moral principles. They affect how people make decisions and lead their lives. Ethics is concerned with what is good for individuals and society and is also described as moral philosophy.
- BUSINESS ETHICS:Business ethics concerns with adhering to the social principles of the situations in which business takes place
ETHICAL AND UNETHICAL ISSUES OF HR,FINANCE,MARKETING:-
HUMAN RESOURCES : Human resource management is the process of recruiting,selecting,inducting employees, providing orientation,impacting training and development
ETHICAL ISSUES OF HR
- Professional HR management lays down set of ethics for growth set of good organization .Ethics include working behaviour:-
- Discipline working behaviour-Disciplined interaction within various department. In spite of divergent view point on number of issues in day to day working ethics demand employees to speak between lines.
- Privacy -Confidentiality of organization is to be maintained .Data of organization is not to be discussed /leaked to competitors.
- Safe working-Now a days safety assumes great importance. Ethics demand each and every employees of good organization to ensure safe and secure working to avoid any unwanted damage to organization's property.
- Upkeep-Ethics also demand employees to maintain cleanness in surrounding .
- Vision-HR ethics also expect employees of organization to uphold the vision of organization and work in cohesiveness to achieve high working standards
UNETHICAL ISSUES OF HR
- Caste Discrimination :-To discriminate in day to day working employees on the basis of religion.Caste or creed is uncalled.
- Sexual Harassment:- At working place it is not desirable it leads to frustration among employees.Finally affects the growth of organization.
- Unethical Competition:- also includes unfair competition with your competitors i.e steal any sort of data or information which is not desirable like-to encourage employees of competitors to indulge in unethical practice.
- Politics :-It is unethical to encourage group ism among employees or workers which is detrimental for organization's growth.
FINANCE:-Finance is defined as the management of money and includes activities like investing, borrowing, lending, budgeting, saving, and forecasting.
ETHICAL ISSUES OF FINANCE
Financial management holds an important and elevated role in corporate governance . Stakes of share holders, promoters and employees are high as far as financial ethics are concerned
- Professional commitment:-Financial management demand ethical reporting there should be complete transparency in financial accounting.In day to day working financial data should not be hijacked, financial data should be properly maintained.
- Statutory compliance :-Financial ethics demand 100%statutory compliance. Timely submissions of GST returns,issuance of form 16 to employees ,time bound payment to all stake holders like vendors ,employees and contractors.
- Maintenance of books :-Accounting books to be maintained in fair manner so that periodic audits are carried out in transparent manner.
- Record keeping:- Financial ethics demand that proper record whether online or book keeping to be maintained for requisite period to avoid any fall out of govt.levies or financial funds.
- Financial Integrity:- Financial integrity to be ensured .No unfair play or juggling to be done with financial data for promotion of shares in the market or balance sheet
UNETHICAL ISSUES OF FINANCE
- Exaggerated Finances:- In a highly competitive and volatile economy corporate houses indulge in exaggerated financial accounting which is unethical practice.To maintain false status companies exaggerate their annual/quarterly financial results which in not ethical
- Unhealthy financial management:- Few companies have untidy habit of doing haphazard working which is not ethical they do not maintain proper financial records and indulge in unlawful activities to complete statutory compliance.Such practice may give short term gain but finally affect the growth of economy
Marketing:- is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
ETHICAL ISSUES OF
MARKETING
- To follow prevalent good marketing practices:- Asking for right price,not comprising on the quality parameters of the product.
- Consumer relation:-To understand the consumer and provide what consumer asks for at reasonable &competitive price tag
- To follow ISO marketing standards .
- To maintain privacy of the product.
UNETHICAL ISSUES OF MARKETING
- To indulge in competition with competitors by compromising on quality parameters of the product
- To copy or introduce prated editions of products to compete in market
- Unclear or elusive marketing strategy not clear to distributors and dealers
- Not to provide customer support services
