Myths of Business Ethics
February 12, 2025
Organizations hire public relations experts to position themselves strongly in the minds of target audiences, investors, stakeholders, employees and all others associated with it. Public relations activities are designed specially to create a strong brand image. Public relations experts should ensure their target audiences agree to what they intend to sell and thus in a […]
The Importance of Employment Statistics Management students and professionals alike should know the importance of employment statistics and numbers and must also know how to interpret such reports. Indeed, based on employment statistics and numbers, several important business decisions such as when to enter a particular market or how to base such entry strategies need […]
Group of individuals working together for a common objective form a team. Teams are generally formed to accomplish complicated and difficult tasks. All individuals come together on a common platform and strive hard to achieve the set objective. When individuals work as a single unit towards a common predefined goal, a team is formed. Not […]
Shannon and Weaver model is the most popular model of communication and is widely accepted all over the world. Let us first go through the following example to understand the model better. Peter is working as Vice president – Marketing with a reputed multinational firm. He is currently heading Mike who in turn is taking […]
The Importance of Team Building Team Building is significant for organizations to actualize optimal performance and enhanced levels of results. Indeed, without team cohesion and the sense of unity of purpose, no organization can hope to survive the neck tight competition as otherwise, the teams would be working at cross purposes with that of the […]
Most of us would agree that it is ethics in practice that makes sense; just having it carefully drafted and redrafted in books may not serve the purpose. Of course all of us want businesses to be fair, clean and beneficial to the society. For that to happen, organizations need to abide by ethics or rule of law, engage themselves in fair practices and competition; all of which will benefit the consumer, the society and organization.
Primarily it is the individual, the consumer, the employee or the human social unit of the society who benefits from ethics.
In addition ethics is important because of the following:
Infosys, for example is perceived as an organization for good corporate governance and social responsibility initiatives. This perception is held far and wide even by those who do not even know what business the organization is into.
For example an organization that does not value competition will be fierce in its operations aiming to wipe out its competitors and establish a monopoly in the market.
Tata group, one of the largest business conglomerates in India was seen on the verge of decline at the beginning of 1990’s, which soon turned out to be otherwise. The same company’s Tata NANO car was predicted as a failure, and failed to do well but the same is picking up fast now.
Technology, for example is growing at such a fast pace that the by the time law comes up with a regulation we have a newer technology with new threats replacing the older one. Lawyers and public interest litigations may not help a great deal but ethics can.
Ethics tries to create a sense of right and wrong in the organizations and often when the law fails, it is the ethics that may stop organizations from harming the society or environment.
Your email address will not be published. Required fields are marked *