Preview

BBM 406 NOTES

Powerful Essays
Open Document
Open Document
28468 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
BBM 406 NOTES
BBM 406 NOTES
Values and ethics in simple words mean principle or code of conduct that govern transactions: in this case business transaction. These ethics are meant to analyze problems that come up in day to day course of business operations. Apart from this it also applies to individuals who work in organisations, their conduct and to the organizations as a whole.
We live in an era of cut throat competition and competition breeds enmity. This enmity reflects in business operations, code of conduct. Business houses with deeper pockets crush small operators and markets are monopolized. In such a scenario certain standards are required to govern how organizations go about their business operations, these standards are called ethics.
Ethics –Greek word “Ethos”- which means systematic endeavour to understand morals concept and justify moral principles and theories. Moral – Latin word “mores” which is closer to the idea of custom or actual practices
Business ethics is a wider term that includes many other sub ethics that are relevant to the respective field. For example there is marketing ethics for marketing, ethics in HR for Human resource department and the like. Business ethics in itself is a part of applied ethics; the latter takes care of ethical questions in the technical, social, legal and business ethics.
Origin of Business Ethics
When we trace the origin of business ethics we start with a period where profit maximization was seen as the only purpose of existence for a business. There was no consideration whatsoever for non-economic values, be it the people who worked with organizations or the society that allowed the business to flourish. It was only in late 1980’s and 1990’s that both intelligentsia and the academics as well as the corporate began to show interest in the same.
Nowadays almost all organizations lay due emphasis on their responsibilities towards the society and the nature and they call it by different names like corporate social

You May Also Find These Documents Helpful

  • Powerful Essays

    Bus 520 Assignment 1

    • 1555 Words
    • 7 Pages

    Business ethics can be both a normative and a descriptive discipline. As a corporate practice and a career specialization, the field is primarily normative. In academia descriptive approaches are also taken. The range and quantity of business ethical issues reflects the degree to which business is perceived to be at odds with non-economic social values. Historically, interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia.…

    • 1555 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Annotated Bibliography

    • 297 Words
    • 2 Pages

    MLA in text citation helps the reader find sources in cited work in the bibliography. The reader can check further information about the authors work on work cited page. The work cited page is listed on a separate page at the end of an essay. In -text citation contains sources from books, newspaper articles, and online website are examples of information listed on work cited page. All cited sources are formatted in alphabetically order and listed on the work cited page. Two primary elements of a quoted passage should be given the author’s last name and the specific page number of sources (Roane State Community College). MLA in text citation are located at the end of sentence with or without an author’s name. In text citation vary depending…

    • 297 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Ethics refers to standards of conduct, which indicate how one should behave and is based on an individual's moral duties and virtues (www.bethedream.net/ethics.htm. Retrieved December 4, 2006). An individuals morals and virtues are derived from that individuals perception of right and wrong. Ethics involves the ability to differentiate between what is good and evil too. Ethics are values that I have used to guide my actions and choices. Basically, my personal values have determined my life's purpose as well as the path in which I have traveled in my life. The Ethics Awareness Inventory has made me aware of how I apply ethics to my personal and professional life.…

    • 711 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Ethics Paper Wk.2

    • 673 Words
    • 3 Pages

    Business Ethics is a form of ethics, which examines the ethical principles, and moral problems that occur in a business. Ethics plays an extremely vital role in business today due because of policies, procedures, and practices. Policies are in place to administer order and structure in an organization. Employees oftentimes undermine these rules and regulations due to acquiring a little or no respect for his or her supervisors and the management team.…

    • 673 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Personal Ethics

    • 986 Words
    • 4 Pages

    Merriam Webster describes ethics as “the principles of conduct that governs an individual or group.”Ethics are personal and are actions one takes on himself. Morals on the other hand are usually set up and passed on by society. Morals are not necessarily one’s own. Morals can be explained as write or wrong behaviors or actions. Values according to Merriam Webster dictionary help to promote sound functioning and strengthen society. We learn values or the things that are important to us from our families or other people that may be influential to us.…

    • 986 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Code of Ethics

    • 1169 Words
    • 5 Pages

    Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of…

    • 1169 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Northcentral

    • 1600 Words
    • 7 Pages

    Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations (Free Encyclopedia). The term business ethics is used in many ways, and the history of business ethics has varied based on how a person or company conceives of the objects under discussion. In a wide sense ethics in business is just the actions or applications of everyday ethical or moral norms and or decisions in business. Construed broadly as moral reflection on commerce, business ethics is probably as old as trade itself. If law, is a rough guide to widely-held moral intuitions (Goodin, R.1985).…

    • 1600 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Additionally, the expansion of the belief that African-Americans were biologically inferior, uncivilized and dangerous, resulted in discrimination against them, further undermining progressive relations between whites and blacks. This belief caused many white employers to generally deny black men places in the budding white labor movement, instead choosing to employ immigrant workers from Britain and Ireland. It was also promoted by the American Colonization Society, which was dedicated to physically removing and settling manumitted slaves on the coast of West Africa, in order to eliminate such a degraded class that could provoke conflict in an act of vengeance on their former masters.…

    • 101 Words
    • 1 Page
    Good Essays
  • Good Essays

    Ethics Midterm

    • 1085 Words
    • 2 Pages

    Business ethics is a study of moral standards and how these apply to the social systems and organizations through which…

    • 1085 Words
    • 2 Pages
    Good Essays
  • Good Essays

    residency program, which specializes you, and is a on jobtraining that is held in hospitals. Residencies for med school…

    • 530 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Business ethics is the critical structured examination of how people and institutions should behave in the world of commerce. In particular it involves examining appropriate constraints on the pursuit of self interest, or for firms profit maximisation when actions of individuals or firms affect others.…

    • 909 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Ethics on Smoking Industry

    • 1817 Words
    • 8 Pages

    Ethics in simple terms means set of moral principles or list of rules, which can determine whether particular action undertaken is ‘right’ or ‘wrong’. All the activities undertaken by society are based on ethics. Ethics can be personal as well as professional. Personal ethics are based on individual’s values, beliefs, attitudes and actions while business ethics are based on certain principles or code of conduct to guide individual or a group in accordance with societal expectations. Business ethics can be defined as “study of business situations, activities and decisions where issues of right or wrong are addressed”(Crane, A& Matten ,D, 2007,P.5). Thus, ethics helps in making decision and is a key for solving problems. Today, society is facing considerable increase in number of ethical issues such as fraud, exploitation, misleading advertisement and increasing pollution.(Birt, Chalmers, Beal, Brooks, Byrne, Oliver, 2008, P.65).…

    • 1817 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Personal Ethics

    • 890 Words
    • 4 Pages

    Let us start off with the definition of ethics. Ethics can be defined with more than one meaning. In philosophy, ethics is the study and evaluation of human conduct in the light of moral principles. Moral principles may be viewed either as the standard of conduct that individuals have constructed for themselves or as the body of obligations and duties that a particular society requires of its members. A second definition or meaning of ethics is motivation-based on ideas of right and wrong. The legal dictionary defines ethics as "The principles of conduct governing an individual or a profession see also ABA Model Rules of Professional Conduct in the important laws section" (http://www.answers.com). It has been said that values, morals, and ethics are inextricably tied together. Values are what we learn from childhood; the 'stuff' we absorb from our parents and immediate surroundings. Morals are the intrinsic beliefs developed from the value systems of how we 'should' behave in any given situation. Ethics, on the other hand, are how we behave in the face of difficult situations (Bottorff, 2005).…

    • 890 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    AMRE

    • 2960 Words
    • 12 Pages

    Ethics is moral principles that govern a person 's behavior or the conducting of an activity. "Ethics in business" is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer.…

    • 2960 Words
    • 12 Pages
    Powerful Essays
  • Good Essays

    Business Ethics

    • 7229 Words
    • 29 Pages

    Ethics is a branch of philosophy and is considered as normative science because it is concerned with norms of human beings. Business ethics has evolved through time and across disciplines into a discipline that is one of the most important topics in the field of business. business ethics from a managerial perspective can be defined as ‘decisions about what is right or wrong (acceptable or unacceptable) in the organizational context of planning and implementing business activities in a global business environment to benefit: organizational performance, individual achievement in the workplace, social acceptance and approval of peers and coworkers in the organization as well as responding…

    • 7229 Words
    • 29 Pages
    Good Essays

Related Topics