Business ethics

1History Click to edit Master subtitle 2Overview 3Functional business areas 3.1Finance 3.2Other issues 3.3Human resource management 3.4Sales and marketing

style

5/1/12

INTRODUCTION:Business ethics(alsocorporate ethics) is a form ofapplied ethicsorprofessional ethicsthat examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.

5/1/12

HISTORY:Business ethical norms reflect the norms of each historical period. As time passes norms evolve, causing accepted behaviors to become objectionable. The term 'business ethics' came into common use in the United States in the early 1970s. By the mid-1980s at least 500 courses in business ethics reached 40,000 students

5/1/12

OVERVIEW:-

I.

Business ethics reflects thephilosophy of business, one of whose aims is to determine the fundamental purposes of a company. If a company's purpose is to maximize shareholder returns, then sacrificing profits to other concerns is 5/1/12

Functional business areas:Fundamentally, finance is a social science discipline.The discipline bordersbehavioral economics, sociology,economics, accounting and management. It concerns technical issues such as the mix of debt andequity,dividend policy, the evaluation of alternative investment projects,options,futures,swaps, and otherderivatives,portfoliodiversificationand many others.

Finance:-

5/1/12

Other issues:Fairness in trading practices, trading conditions, financial contracting, sales practices, consultancy services, tax payments, internal audit, external audit andexecutive compensationalso fall under the umbrella of finance and accounting.
5/1/12

Human resource management:Human resource managementoccupies the sphere of activity ofrecruitmentselection, orientation,performance appraisal,training and development,industrial relationsandhealth and safetyissues

5/1/12

Sales and marketing:Ethics in marketing deals with the principles, values and/or ideals by which marketers (and marketing institutions) ought to act. Marketing ethics is also contested terrain, beyond the previously described issue of potential conflicts between profitability and other concerns. Ethical marketing issues include marketing redundant or dangerous products/services

5/1/12

Click icon to add picture

Conclusion

Now that you understand the idea of business ethics, it is important to practice good ethical behavior. Leading by example; teaching by example; being a role model; these are all things that will come if you practice ethical behavior and chose to make the right decisions.

5/1/12