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Monday, January 28, 2013

Business ethics

1) What definition of business ethics?
    ::The study of proper business policies and pratices regarding potentially controversial issues,such as corporate governance,insider frading,bribery,discrimination,corporate social responsibility and fiduciary responsibility.Business ethics are often guided by law,while other times provide a basic framework that businesses may choose to follow in order to gain public acceptance.

2)  Why business ethics is considered "oxymoron"?
         ::Business ethics is considered 'oxymoron' because to convey that some principles and moral or ethical problem must be by two apparently conctradictory concepts.


 ~Ethics are moral guidelines which govern good behaviour

 ~So behaving ethically is doing what is morally right
 ~ Behaving ethically in business is widely regarded as good business practice. 
 ~Some of quotes said :
   "Being good is good business" by Dame Anita Roddick

   "A business that makes nothing but money is a poor kind of          
    business" by Henry Ford

 Ethical principles and standards in business:

  • Define acceptable conduct in business
  • Should underpin how management make decisions
An important distinction to remember is that behaving ethically is not quite the same thing as behaving lawfully:

  • Ethics are about what is right and what is wrong
  • Law is about what is lawful and what is unlawful
    :  Notes by Abah( lecturer of Business Ethics-UNIKL BIS)

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