Nature of Business

BUSINESS SEMINAR

TOPIC: BUSINESS ETHICS

SUPERVISED BY: MAHALAKISHMI MA’AM

GROUP NO. : 6

GROUP MEMBERS:

* NADIYA – GROUP LEADER

* LULWA

* MERIN

* ANITA

* MISBA

* GAZAL

INTRODUCTION

From a business point of view, business exists in order to earn profits. But from the social point of view, the objective of the business is to supply goods and services to the society. The individual goals of the firm should never conflict with that of the social goals. An enterprise may be good in terms of economic performance but poor in terms of social performance. This raises the question of what is right or wrong from the society's point of view. Business enterprises are products of and are influenced by the society .Therefore they have to interpret and adjust to the preferences or values of society.

The subject matter of ethics is concerned with establishing linkages between individual good and the social good

CONCEPT

The word ethics has its origin in the Greek word ethics meaning character; norms or ideals or morals prevailing in a group or society. Ethics is concerned with what is right and what is wrong in human behavior judged on the basis of a standard form of conduct/behavior of individuals as approved by the society. Ethics may be viewed as the entire body of moral values that society attaches to the actions of human beings. Ethics can also refer to codes or other system for controlling means so that they serve human ends. Ethical behavior is just and fair conduct which goes beyond observing laws and government regulations.

The set of principles called ethics may unwritten codes or principles governing a professional or human activity. Business ethics concerns itself with the relationship between business objectives, practices and techniques and the good of society.

Some examples of business ethics are:-

Charging fair prices from customers, using fair weights for measurement of commodities, giving fair treatment to workers...