BUSINESS ETHICS                                                          Ethics is a set of rules that define right and wrong conduct.    

It can be defined as written and unwritten codes of principles and values that govern decisions actions within a company.

 In the business world ,the organisation's culture sets standards for determining the difference between good and bad decision making and behavior.  

                      

•              ETHICS IN FINANCE                                                                                                                                                                                                                                                                                

  Ethics in general is concerned with human behavior that is acceptable or "right" and that is not acceptable or "wrong" based on conventional morality. General ethical norms encompass truthfulness, honesty, integrity, respect for others, fairness, and justice.

  
  

  Ethics and finance. Background: Ethics is defined as behavior consistent with established standards of conduct and moral behavior. The ethical (and legal) violations of these firms attracted widespread publicity resulting in a negative impact on these firms' wealth and viability.

  
  

  ETHICAL ISSUES IN FINANCE

  
  

  ACCURACY : Honesty and accuracy in accounting are ethical as well as financial issues. Bookkeepers and accountants have a responsibility to represent information in ways that genuinely represent what is going on in the business. Failure to do so can have consequences for business owners, stakeholders and tax reporting agencies.

  
  

  TRANSPARENCY  : Improving ethics is crucial to enhancing accountability and vice-versa.Transparency. Generally, “transparency” implies openness, communication and accountability. It is a metaphorical extension of the meaning a “transparent” object is one that can be seen through

  
  

  INTEGRITY : General ethical norms encompass truthfulness, honesty,integrity, respect for others, fairness, and justice. They relate to all aspects of life, including business and finance

  
  

  
  

  UNETHICAL ISSUES IN FINANCE

  
  

  Unethical behavior is an action that falls outside of what is considered morally right or proper for a person, a profession or an industry. Individuals can behave unethically, as can businesses, professionals and politicians.

  
  

  Delays in paying wages, interest to financiers, incentive, bonus to employees.

  
  

   Not prompt in statutory payments of ESI, PF, Sales Tax and Excise Duties.

  
  

  Deliberate abnormal delays in payments to (a) Vendors, (b) Dealers commissions and promotion costs.

  
  

   Quick release of payments to known or adjustment parties and delaying payment to others.

  
  

  Taking private finance only from those who are ready to do personal favours to the finance department head.

  
  
  

                    MARKETING                 

  
  

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  •  Marketing management is the process of developing strategies and planning for product or services,advertising,promotion sales to reach desired customers satisfaction .   

  • Delivery channels 
  • Market Audience 

  Ethics in advertising and promotion                                                     Anticompetitive practices 
• Using ethics as a marketing tactics 
• Pricing ethics.

  ETHICAL ISSUES IN MARKETING

  Ethical marketing decisions and effort should meet and suit the needs of customers ,suppliers ,and business partners .                                                                         

 

UNETHICAL ISSUES IN MARKETING 

 Unethical marketing can send wrong signals about your product ans services ,  destroy your brand's reputation and possibly lead to legal problems .                                                                                    

• Making false ,exaggerated ,or unverified claims 
• Distortion of facts to mislead or confuse potential buyers
• concealing dark sides or sides effects of products or services
• Bad -mouthing rivals products
• Using fear tactics
• Plagiarism of marketing messages 
• Exploitation 
• Demeaning references to races ,age ,sex,or religion Spamming .        

         

         ETHICS IN HUMAN RESOURCE                                                                                             

Ethics in HRM indicates treatment of employees with ordinary decency and distributive justice.The ethical business contributes to the business goals as the employees will feel motivated and they will work with efficiency and effectiveness .Ethics in HRM basically deals with the affirmative moral obligation of the employer towards employees to maintain equality and equity justice.                          

                                                                                              ETHICAL ISSUES IN HR

Performance Appraisal :  Ethics should be considered on the basis of performance appraisal.Highly ethical evaluations demands the honest assessment of the performance and steps should be taken to improve the effectiveness of employees

• Employee Responsibility : Organisation also have responsibility of their employer , as an employee you have a duty of care, responsibility of safety at work place ,ensuring workers receive sufficient information . 

  
  

   Cash and Incentives plans :Cash and incentives plans should be includes the basics like salaries ,bonus ,annual increment,or incentives ,executive perquisites and long term incentives plans .

  
  

  
  

     

                                  UNETHICAL ISSUES 

• Exploiting Cheap labour market              
• Using child Labour 
• Longer working hours 
• Increasing work stress 
• Unfair allocation  of  pay and benefits
• Not providing the proper environment