Investors are becoming more and more aware that an ethical climate provides a foundation for efficiency, productivity and profits. Marketing practices should be ethical and should avoid the adoption of any unfair means. It involves various points such as:-, Business is an earning factor which depends on the approval of the society, their rules, mutual trusts, and coordination. • Ethical problems arising out of new technologies for eg. Social forces directly influence on business or businessman to observe good or bad ethics in business. (ii) Maintain ethical relations between the company and the environment like pollutions. A professional writer says- A sincere person is always working hard to become ethical and always succeed in his force of actions but an unethical person cannot. Ethics in business helps in monitoring and controlling the overall production activities. The various ethical issues covered are defective and dangerous products, environmental ethics and pollution issues, Issues arising out of new technologies and produc… Copyright © 2017 Top Web Media. The regulator need not always monitor the functioning of the ethically sound company. Ethics related to human resource are introduced and implemented by Human resource management in business. Business following ethics in their operations frames strategies and policies in accordance with established rules and regulations. Business should provide fair wages and better working condition to its employees, fair payment of taxes to the government, transparency of information to shareholders and taking part in various amenities for society. The motivation for being compliant could be to do the right thing out of the fear of being caught rather than a desire to be abiding by the law. Once they are informed about these ethics advantages, they will be self-motivated to adopt these. Commerce Mates is a free resource site that presents a collection of accounting, banking, business management, economics, finance, human resource, investment, marketing, and others. This booms the overall performance and reduce the risk. They focus on to follow the book of code of conduct so that they can easily understand the aspects of humanity. Business is termed as social organ and therefore it should not indulge in any activity that is harmful for the interest of all its stakeholders. These ethics helps the business in deciding what is right and what is wrong for the business taking into account its circumstances. • Bribery, kickbacks, over billing of expenses, facilitation payments. It promotes a strong public image. Ethics should be a pivotal issue for HR specialists. Companies are able to attract the best talent and an ethical company that is dedicated to taking care of its employees will be rewarded with employees being equally dedicated in taking care of the organization. Honesty is also an important part of a businessman or a business because it helps to produce the activity of right and wrong. The motive of this compliance is to do the right things at the right place and at the right person. Ethics in business provides a framework for the welfare of society and peoples associated with it. These ethics are required to be adopted by businessmen by their own will. discrimination on the bases of age, gender, race, religion, disabilities, weight etc. Business ethics includes fair sources of requirement which includes moral, beliefs, understanding, and so on. The ethical climate matter to the employees. Business ethics brings self-discipline within the business environment. It also differs from region to region and country to country. The ethical issues in finance that companies and employees are confronted with include: • In accounting – window dressing, misleading financial analysis. In this article, I will explain the importance, elements, and scope of business ethics…, The importance of ethics in business is also known as the significance of ethics in business. The motivation for being compliant could be to do the right thing out of the fear of being caught rather than a desire to be abiding by the law. SCOPE OF BUSINESS ETHICS. Thanks, brother thank you so much for your valuable feedback…, Your email address will not be published.