Pen N Paper SHAON84 |
Business Ethics
By Benzir Shaon
Ethics & Ethics in Business
One's
action affects other people or organizations. The standards of conduct by which
one's action are judged as right or wrong, honest or
dishonest, fair or not fair, are ethics. Every one has his or her own ethics. It is a part of our life.
Ethics
are principals of behavior that distinguish between right or wrong. Ethical
conduct conforms to what a group or society as a whole considers right behavior.
People working in business frequently face ethical questions.
Business
ethics is the evaluation of business activities and behavior as right or wrong.
Ethical standards in business are based on commonly accepted
principals of behavior established by the exception of society, the firm, the
industry and an individual's personal values.
Importance of Ethics in Business
In business, ethics are more
important. Now-a-days most business leaders realize their firms cannot succeed
without the trust of customers and the goodwill of the society. So,
most of the people related with business are ethical. They are very responsible
and honest.
Here
some points based on the importance of ethics in business are
given below…
Internal communication
To
run an organization the owner or the manager need to communicate with others,
for example: co-workers, colleagues, investors, other
organizations etc. If they are dishonest or irresponsible nothing with fetch
success for the organization.
Hampers regular activities
A
business organization cannot run with irresponsible and dishonest co-workers or
the employees. The orders or the suggestions cannot be
carried out in that situation. In the end, the business will be collapsed.
Right financial condition
Ethics
in business also ensures the sound financial report. If the accountant and his
or her co-workers are ethical, a sound and right financial report might come
out. This will help the managers and the owners to take necessary steps for the
interest of the business.
Ensuring honesty & responsibility
If
once an organization can ensure their honesty and responsibility to others, it
plays the major role in increasing investors and profits.
At the end
That
is not all. There are so many logics and points for it. Today in home and
abroad businesspersons should be ethical as more as they can.
Submission
Date: January 25, 2005
An
Assignment Prepared for: Tanzina Haque, Course Instructor,
Financial Accounting (ACT101), Department of Business Administration,
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