ETHICAL ISSUES IN BUSINESS
Business always face ethical issues in its day to day operations and
strategy formulations. Business units are meant for profit and therefore the
question is this, whether to compromise quality in certain areas with a view to
make profit. Or is it possible to make profit by keeping all ethical, legal and
environmental requirements. The answer is simple - the business should keep
all ethical and legal aspects.
Business can create value and good image in the mind of people through
ethical practices. It helps the business to survive for long time. Unethical
business cannot survive for a long period.
Ethical management can solve many problems very easily. It
Promotes work culture, self-discipline and consciousness among the employees.
It helps the management to make use of valuable human resources very
effectively. This environment brings in harmony and happiness in the business.
Ethical actions redefine human attitudes.
It purifies the mind. It helps in protecting from unwanted stress, strains,
unrest and loneliness. It also helps in reducing conflicts and disputes. This
enhances reputation and goodwill of the organization.
Therefore, the question of whether to go
for ethics is meaningless. However, when we try to implement ethics, there may
be some problems.
They can be divided
Fundamental issues in
following ethics in business
Ethical issues in
Ethical dilemma in business
In order to solve
ethical problems, companies and organizations should develop strict ethical
standards for their employees. Every company must demonstrate its concerns
regarding ethical norms within the organization. In addition, companies may
provide ethical training to their employees.