Ideology Of Business Ethics

                IDEOLOGY OF BUSINESS ETHICS

ETHICS:

 Ethics is a branch of knowledge or   ideology's that deals with moral principles   and values.

The term ethics is derived from the Greek word ethikos which itself is derived from the Greek word ethos,meaning custom or character. In philosophy,ethical behavior is that which is “good.”The field of ethics or moral philosophy involves developing, defending, and recommending concepts of right and wrong behavior.

BUSINESS+ETHICS=BUSINESS ETHICS

Business ethics reflects the philosophy of business,of which one corporate aims at determining the fundamental purposes.

Each and every corporate follows business ethics,as in the globalization era every business holder thinks to run his or her business at the global market,and to survive in the long term.In meanwhile the survival of business in long term by following ethics has become the for most priority of the corporate sectors.
Sometimes following business ethics may create a worse situation for the corporate sectors,so they are not able to follow their own ethics.At this situation we can change the ethics or look for the alternatives and also for the time being practice of ethics can be stopped.As" there is no right way to do a wrong thing". Taking a wrong way at this situation takes the corporate sectors to a place where the company has to be shut down due to the laws of the particular country.


Some of the common words which must be taken into consideration while dealing with Business Ethics :

• Ethical - it means the good or the righteous (honest) moral principles 
• Unethical - not morally correct 
• Human Resource - department of a business or an organisation that deals with the hiring, administration and training of a staff. 
• Finance - management of  a large amount of money
• Marketing - Merchandising / action or business promoting and selling products or services, including market research. 
• Management - It's the process of handling or managing by dealing with or controlling things or people. 
• Globalization era-The era in which the world is moved towards making the world a single market.

Human Resource Management:

Human resource- management (HRM or HR) is the strategic approach to the effective management of people in an organization.HR departments are responsible of overseeing employee benefits design, employee recruitment, training and development, performance appraisal. ethical issues are the most difficult ones to handle or deal with. Issues arise in employment, remuneration and benefits, industrial relations and health and safety.

Unethical practices continue in government sector in following manner:

(i) Announcing the vacancies and not taking any action further. Not clear about processing dates, written tests/interview dates and selection dates. Accountability is totally lacking.

(ii) Functioning of government employment offices is not transparent, not reliable and in fact its purpose is not well served.

(iii) Government offices and selection committees will be excessively cautious of reservation quotas and possible court cases rather than going through the responsibilities in an unhindered manner.

(iv) Most of the time the government selections get stalled or delayed due to situations like question paper leakage or court cases.

(v) The government method of selections is at best suited to low paid jobs and not for senior level posts.

Ethical Practice in Finance:

1. Profit, but Not at Any Cost
2. The Client’s Interests First
3. A Commitment to Excellence
4. Ethics Prioritized Over Client Instruction
5. Legal is Not Always Ethical

Non Ethical Practice in 

Finance:

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

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

iii. Holding up bills of vendors on silly reasons and ultimately buying from others to avoid payment to earlier vendors.

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

v. Cheating employees of their dues towards medical expenses, leave travel assistance, children education fees etc.,

Ethical practice in Marketing:

There Are Eight Principles of Ethical Marketing

1.  The common standard of truth will be observed in all forms of marketing communication.
2.  Personal ethics will guide the actions of marketing professionals.
3.  Advertising is set apart from entertainment and news and the line is clear.
4.  Marketers will be transparent about who is paid to endorse their products.
5.  Consumers will be treated fairly, depending on who the consumer is and what the product is.
6. Consumer privacy will be respected and upheld at all times.
7. Marketers will comply with standards and regulations set by professional organizations and the government
8. Ethics should be discussed in all marketing decisions in an open and honest way.

Non Ethical Practice:

1.Misleading Statements

2.Making false or deceptive comparisons about a rival product.

3.*Inciting* fear or applying unnecessary pressure. “Limited time offers” are notorious for the latter,      which is fine if a deadline really exists and the tone doesn't sound threatening.

4.Exploiting emotions or a news event.

5.Stereotyping or depicting women as sex symbols merely to draw attention to a product.