Cutting Costs Strategically
February 12, 2025
Marketing communications is essentially a part of the marketing mix. The marketing mix defines the 4Ps of marketing and Promotion is what marketing communications is all about. It is the message your organization is going to convey to your market. You need to be very particular about different messages you are going to convey through […]
The Philanthropy of the Mega Rich The recent announcement by Mark Zuckerberg, the Founder of Facebook, that he would give away 99% of his shares in his company to charity has brought into focus the trend of Billionaires giving away their fortunes to charity. Indeed, starting with the founder of Microsoft, Bill Gates, and including […]
Multi Level Marketing is a very interesting concept which makes selling very easy. The fact that anyone and everyone can join the Network marketing business and earn handsome income by selling the products without any investment or risk makes it the most attractive business proposition to people. MLM companies spend a lot of money and […]
The business landscape of the 21st century is littered with companies that have failed to keep abreast of the changing trends, ideas and the pace of technological change. In this context it is important more than ever for corporates to practice good corporate governance since an approach that is fair and ethical as well as […]
Why Corporations Must be Made Accountable for Their Actions Throughout the history of the modern corporations, there have been cases where corporations have literally and figuratively gotten off with murder and wanton destruction and exploitation of the natural environment. Indeed, the 20th century is littered with examples of how rapacious corporations have both extracted resources […]
Business Ethics refers to carrying business as per self-acknowledged moral standards. It is actually a structure of moral principles and code of conduct applicable to a business.
Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. It is the worth of right and wrong things from business point of view.
Business ethics not only talk about the code of conduct at workplace but also with the clients and associates. Companies which present factual information, respect everyone and thoroughly adhere to the rules and regulations are renowned for high ethical standards. Business ethics implies conducting business in a manner beneficial to the societal as well as business interests.
Every strategic decision has a moral consequence. The main aim of business ethics is to provide people with the means for dealing with the moral complications. Ethical decisions in a business have implications such as satisfied work force, high sales, low regulation cost, more customers and high goodwill.
Some of ethical issues for business are relation of employees and employers, interaction between organization and customers, interaction between organization and shareholders, work environment, environmental issues, bribes, employees rights protection, product safety etc.
Below is a list of some significant ethical principles to be followed for a successful business-
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