WHAT IS BUSINESS?
The term business has been defined differently by different scholars time to time. Business is an economic activity which is conducted on the regular basis to earn profit by sales and purchase of goods and services.
WHAT IS ETHICS ?
The word Ethics stem from the greek word ethike which attribute to a social environment referred to a social environment referred to as ethos or social millieu, or we can say the general word Ethics means what is right to do and what is wrong to do."For Norms For Moral Values.
WHAT IS BUSINESS ETHICS ?
Business ethics is the behavior that how an organisation deal with the world. The Ethics of the business can be diverse .They are applied not only on how the business interact with the world but also to interact with an individual .( for example :- customer).If an organisation want to run their in the competitive market then it is necessary to follow the ethics in business for moral values, norms, and as well as for the society.It would be beneficial for an organisation to follow the business ethics.It is the responsibility of the organisation to maintain the ethical status..
ETHICAL AND UNETHICAL ISSUES OF HUMAN RESOURCE , MARKETING AND FINANCE.
HUMAN RESOURCE.
Human resource is defined as managing laborers or employee in an organisation in an efficient and effective manner for the betterment of the organisation. Human resource management is a contemporary, umbrella term used to describe the management and development of employees in an organization. Also called personnel or talent management human resource management involves overseeing all things related to managing an organization’s human capital.
ETHICAL ISSUES OF HUMAN RESOURCE
Human resource management is a contemporary, umbrella term used to describe the management and development of employees in an organization. Also called personnel or talent management human resource management involves overseeing all things related to managing an organization’s human capital.Its very difficult to deal with issues when its suddenly arises in employment ,benefits,salary etc.Many organisations establish expectations regarding ethical issues such as conflict of interest ,safety,privacy issues. Its deal with setting standards that promote ethical behavior in the organisation.
UNETHICAL ISSUES OF HUMAN RESOURCES.
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.The employees, function, involvement, loyalty,dedication, discipline,and decision making play a big role in the success of the organisation . However great facilities, machinery,and building a corporate provides,it is ultimately the people who have to make them workable and to achieve the organisations success.More or less organisation sources is obvious signs of unethical behavior you may have faced with public problems of ultimately loss business .some of the problems promoting ethical business on the right path are lying about performance , breach of contact ,crossing harassment,failure to maintain safety in workplace.
FINANCE
Finance is a field that is concerned with the allocation of assets and liabilities over space and time, often under conditions of risk or uncertainty. Finance can also be defined as the art of money management. Participants in the market aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be split into three sub-categories: public finance, corporate finance and personal finance.
ETHICAL ISSUES OF FINANCE
Ethical issues of finance are involved in the managerial activities at financial institutions i.e. BANK.They are required to mark the highest ethical standards because of the internal and external stakeholders are completely dependent on the transparency of the financial status of the organisation.The financial document helps to make decision in an organisation are transparency, integrity, accuracy and time period.
UNETHICAL ISSUES OF FINANCE
The unethical practices in accounting are more in proprietary, partnership and private limited companies. It is at lower levels in public limited companies and MNC's.
a. Deliberate abnormal delays in payments to (a) Vendors, (b) Dealers commissions and promotion costs.
b. Delays in paying wages, interest to financiers, incentive, bonus to employees.
c. Holding up bills of vendors on silly reasons and ultimately buying from others to avoid payment to earlier vendors.
d. Not prompt in statutory payments of PF, Sales Tax and Excise Duties.
e. Cheating employees of their dues towards medical expenses, leave travel assistance, children education fees etc.,
f. Opening of current accounts in different banks to avoid adjustments against loans by earlier banker.
g. Creating bogus bills of purchase to show higher costs and hence losses to avoid bonus payment to employees.
h. Collecting loans from private financiers at higher rate of interest to help kith and kin and to get kick-backs.
i. Quick release of payments to known or adjustment parties and delaying payment to others.
j. Taking private finance only from those who are ready to do personal favor's to the finance department head.
MARKETING
Marketing is the study and management of exchange relationships. Marketing is the business process of creating relationships with and satisfying customers. With its focus on the customer, marketing is one of the premier components of business management.Marketing is also defined as dozens of different ways .It determines the demand of a product on its price selected distributed channels.
ETHICAL ISSUES OF MARKETING
Ethical issues in marketing arise from the conflicts and lack of agreement on particular issues. Parties involved in marketing transactions have a set of expectations about how the business relationships will take shape and how various transactions need to be conducted. Each marketing concept has its own ethical issues.
UNETHICAL ISSUES OF MARKETING
The unethical marketing practices can also help a business and avoid other consequences ,such as losing the faith of the consumer .The worst practices are emotional exploitation, contacting people without any consent, misleading advertisement. Market research has experienced a resurgence with the widespread use of the Internet and the popularity of social networking. It is easier than ever before for companies to connect directly with customers and collect individual information that goes into a computer database to be matched with other pieces of data collected during unrelated transactions.
The way a company conducts its market research these days can have serious unethical repercussions, affecting the lives of consumers in ways that have yet to be fully understood. Further, companies can be faced with a public backlash if their market research practices are perceived as unethical.
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