Do not accept child labour, forced labour or any other human right abuses.The goal of business is to get the maximum profit for owners and shareholders.Maintain confidentiality of personal data and proprietary records held by the company.The policies and procedures of the Company should be updated regularly.Do not ruin competitors image by fraudulent practices. Meet all the commitments and obligations timely.Discourage black marketing, corruption and hoarding. Do not get engaged in business relationships that lead to conflicts of interest.The mission and vision of the company should be very clear to it.Treat everyone (employees, partners and customers) with respect and integrity.Maintain accurate and true business records. Encourage feedback from both employees as well as customers. Strictly adhere to the product safety standards.Indulge in truthful and reliable advertising.Do not replicate the packaging style so as to mislead the consumers.Continuously improvise the products, operations and production facilities to optimize the resource consumption.Follow health, safety and environmental standards.Protect the basic rights of the employees/workers.
Some of ethical issues for business are relation of employees and employers, interaction between organization and customers, interaction between organization and shareholders, work environment, environmental issues, bribes, employees rights protection, product safety etc.īelow is a list of some significant ethical principles to be followed for a successful business. Ethical decisions in a business have implications such as satisfied work force, high sales, low regulation cost, more customers and high goodwill.
The main aim of business ethics is to provide people with the means for dealing with the moral complications. Business ethics implies conducting business in a manner beneficial to the societal as well as business interests.Įvery strategic decision has a moral consequence. Companies which present factual information, respect everyone and thoroughly adhere to the rules and regulations are renowned for high ethical standards. It is the worth of right and wrong things from business point of view.īusiness ethics not only talk about the code of conduct at workplace but also with the clients and associates. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. It is actually a structure of moral principles and code of conduct applicable to a business. Business Ethics refers to carrying business as per self-acknowledged moral standards.
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