In today’s world of development the company form of organisation is said to be the most beneficial one and after availing the development how to sustain the same is of much significance. Two important principles that could help one sustain the same are Morality & Ethics. In broader sense the terms morality & ethics are defined as under : Morality :
It is differentiation of intentions, decisions and actions between those that are “good” and those that are “bad”. Ethics :
It is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. So in order to develop an organisational structure that has a strong resistivity in the competitive edge, it must have the above said to principles at its base. Talking about morality and ethics in the context of a corporate world, it is must that a company that has development of themselves and the development of the country as its final mission it is surely got to have Morality and Ethics as is Milestone In today’s world economy there are many companies who claim that their morals and ethics are strong enough so as to guide the entire organisation and the nation as well. It is the duty of all the business entrepreneurs and the corporate entities to inculcate the feeling of returning the society what they want and in all the ways as is desirable. Being ethical in the business requires acting with an awareness of:
The need for complying with rules, such as the laws of the land, the customs and expectations of the community, the principles of morality, the policies of the organisation and such general concerns as the needs of others and fairness. How the product and the services of an organisation, and the actions of its members can affect its employees, the community and society as a whole. Arguments in favour of business ethics :
1.Ethics helps to promote a strong public image :
An organisation that pays attention to its ethics can portray a strong and positive image to the public. People see such organisation as valuing people more than profit and striving to operate with the integrity and honour.
2.Strong teamwork and greater productivity :
Ongoing attention and dialogue regarding values in the workplace builds openness, integrity and community, all critical ingredients of strong teams in the workplace. Employees feel a strong alignment between their values and those of the organization resulting in strong motivation and better performance. 3.Improved society :
A few decade ago, children and workers were ruthlessly exploited. Then society reacted and demanded that businesses place high value on ethics, fairness and equal rights resulting in framing of anti-trust laws, establishment of government agencies and recognition of labour unions. 4.Easy acceptance of change :
At times when the organization has to change because of the change in the way a society works ethics works out to be good guiding compass so as to guide the entire organisation the entire cycle of change. 5.Ethics can help reduce “criminal” acts of omission and thus helps the entity reduce the amount of fines that it is required to pay in case there are no ethical principles in the organisational structure. 6.Ethics help managing values associated with the entire organisation : With the help of the ethics at the base of the organisational structure the business entity is surely going to face less issues relating to fluent business administration and will surely help solving business related problems at a faster speed. And thus add into the success of the entire organisation and as said by gandhiji to the entire society as well.
Arguments against business ethics :
1. Wastage of money and resources :-
The business structure and the organisation has to deal with many other peoples and entities such as suppliers, customers, government and many other also who will surely like that the business entity with whom they deal with has a good moral and ethical...
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