Need of Business Ethics


This resource gives information about the need of business ethics

The need of business ethics can be explained with the help of the following points:-

(1) Introducing Socialism in Business: This means the gains of business must be shared by all concerned and not just by owner of business. Profit is the result of group efforts and hence all concerned must share the same. In other words, the concept of socialism in business say that workers, shareholders, consumers all others who contribute to the success of the business must share its gain.

(2) Interest of Industry: Business ethics are required to protect the interest of small business firms. Big firms normally try to dominate and eradicate small firms. If industry follows code of conduct, small firms can fight for their existence and stay in the business for long.

(3) Buyers Market: In recent times, structural changes have taken place in the concept of business. In case of many products, sellers market has been converted into buyers market. Under such changed business conditions business ethics is needed to stress the importance of consumer satisfaction and service orientation in place of profit orientation.

(4) Better Relations with Society: Code of conduct results in better relations between business and society. It will reconcile conflicting interest of various sections of the society such as workers, shareholders, consumers, distributors, suppliers, competitors and government.

(5) Advantages to Business and Society: Ethics point out what is good and bad, so also what is right or wrong. It brings to the notice of the business community the importance of honesty, sincerity, fairness which makes them alert and socially conscious.

In the final analysis, business ethics help the business and society at large. It ensures healthy atmosphere in business which ensures improvement in social, economic and cultural values of the society.


Related Articles

Tips for Choosing a Computer Tablet Business

Tablet computer is the right choice for business people because it is easy to carry and use. Even so, there are some things to consider before buying it. Want to know? Consider the following article. In this article viewers can see seven beautiful tips for Choosing a Computer Tablet Business.

Top 10 Ways To Promote Your Business Through Twitter

On a widening horizon of e-commerce, via social networking websites has great scope. Twitter, as a microblogging site, holds a special position in the virtual world. This article explains the top ten methods to use your Twitter account as an medium for promoting your . It answers the question: What can I do to promote my business through Twitter?

Professional Courses To Become A Successful Businessman

After the publication of of various board/entrance exams, many students dream to be engineer, bank officer or doctor or judge/barrister. But why these so used boring jobs? You can change your track. You can be self-dependent with the help of , if you have self-confidence. In this article I am going to discuss some of the courses where you can get success. Check it out.

Village economy- changing the face of rural India

There are several such areas under the village economy where if attempts are made could turn into gold mine. This article lists what are such areas which can bring in revolutionary changes on rural development. This article is dedicated on the Gandhi Jayanti Special Eve.

More articles: business

Comments

No responses found. Be the first to comment...


  • Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.
  • No HTML formatting and links to other web sites are allowed.
  • This is a strictly moderated site. Absolutely no spam allowed.
  • Name:
    Email: