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Factors of Business Ethics

Business ethics refers to the moral principles that guide business conduct and behavior towards society and other businesses. It is based on maintaining harmonious relationships and recognizing moral responsibility. Business ethics involves following a code of conduct in all business activities, upholding moral and social values like fairness and service to society, and protecting the interests of social groups over profits by prioritizing social good. This ethical approach builds a good reputation for business and allows for expansion.

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Sathish Kumar
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25 views1 page

Factors of Business Ethics

Business ethics refers to the moral principles that guide business conduct and behavior towards society and other businesses. It is based on maintaining harmonious relationships and recognizing moral responsibility. Business ethics involves following a code of conduct in all business activities, upholding moral and social values like fairness and service to society, and protecting the interests of social groups over profits by prioritizing social good. This ethical approach builds a good reputation for business and allows for expansion.

Uploaded by

Sathish Kumar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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, different area of business ethics. Business ethics is a part of social responsibility which the businessmen have to honour in practice.

According to Wheeler Business Ethics is an art or science of maintaining harmonious relationship with society, its various groups and institutions as well as reorganizing the moral responsibility for the rightness or wrongness of business conduct. According to Dr. C.B. Mamoria and Dr. Satish Mamoria, business ethics is defined as businessmans integrity so far as his conduct or behavior is concerned in all fields of business as well as towards the society and other business. Factors of Business Ethics:1. Code of conduct;- it is the code of conduct which businessmen should follow while conducting their normal business activities. 2. Moral and social values:- it is based on well accepted moral and social values. It suggests moral principles/rules of conduct for businessmen. They include self-control, service t society, fair treatment to social groups and not to harm/exploit others. 3. Protection of social groups:- business should give priority to social interest or social good. Such ethical approach creates good name and status to business and facilitates its expansion.

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