Write short notes on Elements of business ethics.
Answers
Importance of Business Ethics. Following ethical business practices is valuable for long-term gains and success.
Trustworthiness and Honesty.
Trustworthiness is a key element of business ethics because the client must have deep trust in your company.
Confidentiality.
Technical Integrity.
Creating an Open Environment.
BUSINESS.
Bᴜsɪɴᴇss ʀᴇғᴇʀs ᴛᴏ ᴛʜᴀᴛ ᴇᴄᴏɴᴏᴍɪᴄ ᴀᴄᴛɪᴠɪᴛʏ ᴡʜɪᴄʜ ɪɴᴄʟᴜᴅᴇs ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴀɴᴅ sᴀʟᴇs ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ᴀɴᴅ ɪᴛ sʜᴏᴜʟᴅ ʙᴇ ᴄᴏɴᴅᴜᴄᴛᴇᴅ ᴏɴ ʀᴇɢᴜʟᴀʀ ʙᴀsɪs.
(Eᴄᴏɴᴏᴍɪᴄ Aᴄᴛɪᴠɪᴛʏ ʀᴇғᴇʀs ᴛᴏ ᴛʜᴀᴛ ᴀᴄᴛɪᴠɪᴛʏ ᴡʜɪᴄʜ ᴍᴀɪɴ ᴏʙᴊᴇᴄᴛɪᴠᴇ ᴡᴀs ᴇᴀʀɴɪɴɢ ᴍᴀxɪᴍᴜᴍ ᴘʀᴏғɪᴛ.)
Fᴏʀ Exᴀᴍᴘʟᴇ: Tʀᴀɴsᴘᴏʀᴛ, Cᴏᴍᴍᴜɴɪᴄᴀᴛɪᴏɴ,Iɴsᴜʀᴀɴᴄᴇ , Bᴀɴᴋɪɴɢ ᴇᴛᴄ.
BUSINESS ETHICS.
Iɴ sɪᴍᴘʟᴇ ᴡᴏʀᴅ Eᴛʜɪᴄs ᴍᴇᴀɴs ᴛʜᴇ ᴏʙʟɪɢᴀᴛɪᴏɴ/ɪᴅᴇᴀʟs ᴡʜɪᴄʜ ᴀɴ ɪɴᴅɪᴠɪᴅᴜᴀʟ ʜᴀᴠᴇ ᴛᴏ ғᴏʟʟᴏᴡs .Oɴ ᴛʜᴇ ᴏᴛʜᴇʀ ʜᴀɴᴅ Bᴜsɪɴᴇss Eᴛʜɪᴄs ᴍᴇᴀɴs ᴛʜᴇ ʀᴜʟᴇs ᴀɴᴅ ʀᴇɢᴜʟᴀᴛɪᴏɴs ᴛʜᴀᴛ ᴀɴʏ ɪɴᴅɪᴠɪᴅᴜᴀʟ ʜᴀᴠᴇ ᴛᴏ ғᴏʟʟᴏᴡ ɪɴ ᴛʜᴇ ғɪᴇʟᴅ ᴏғ ʙᴜsɪɴᴇss. Tʜᴇʀᴇ ᴀʀᴇ ᴅɪғғᴇʀᴇɴᴛ ᴛʏᴘᴇs ᴏғ ᴘᴀʀᴛɪᴇs ɪɴ ʙᴜsɪɴᴇss ʟɪᴋᴇ ᴄᴜsᴛᴏᴍᴇʀ, sᴜᴘᴘʟɪᴇʀ, sʜᴀʀᴇʜᴏʟᴅᴇʀ,ɢᴏᴠᴇʀɴᴍᴇɴᴛ,sᴏᴄɪᴇᴛʏ ᴇᴛᴄ.
Fᴏʀ Exᴀᴍᴘʟᴇ:
➡️Hᴀᴠɪɴɢ ᴀ ғᴀɪʀ ᴄᴏᴍᴘᴇᴛɪᴛɪᴏɴ ᴡɪᴛʜ ᴄᴏᴍᴘᴇᴛɪᴛᴏʀs.
➡️Aʟʟ ʟᴀᴡs ᴍᴀᴅᴇ ʙʏ ɢᴏᴠᴇʀɴᴍᴇɴᴛ sʜᴏᴜʟᴅ ʙᴇ ғᴏʟʟᴏᴡᴇᴅ ᴀɴᴅ ᴛᴀxᴇs sʜᴏᴜʟᴅ ʙᴇ ᴘᴀɪᴅ ᴀᴛ ʀɪɢʜᴛ ᴛɪᴍᴇ.
➡️Aʟʟ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴍᴜsᴛ ʙᴇ ᴇɴᴠɪʀᴏɴᴍᴇɴᴛᴀʟʟʏ ғʀɪᴇɴᴅʟʏ.
➡️Pʀᴏᴠɪᴅɪɴɢ ɢᴏᴏᴅ ϙᴜᴀʟɪᴛʏ ɢᴏᴏᴅs ᴀᴛ ʀᴇᴀsᴏɴᴀʙʟᴇ Pʀɪᴄᴇ .