'Ethics is the discipline that examines the moral standards practiced by an individual or a corporate or a society' It is a function of one's consciousness. It is beyond the boundaries of law. Some of the common unethical practices business resort to include: manipulation of stock markets: In India manipulation of stock market is not uncommon.
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Original Title
Q-1 What Are the Ethical Issues Faced by Organizations In
'Ethics is the discipline that examines the moral standards practiced by an individual or a corporate or a society' It is a function of one's consciousness. It is beyond the boundaries of law. Some of the common unethical practices business resort to include: manipulation of stock markets: In India manipulation of stock market is not uncommon.
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'Ethics is the discipline that examines the moral standards practiced by an individual or a corporate or a society' It is a function of one's consciousness. It is beyond the boundaries of law. Some of the common unethical practices business resort to include: manipulation of stock markets: In India manipulation of stock market is not uncommon.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online from Scribd
Q-1 What are the ethical issues faced by organizations in
today’s environment? What will be your suggestion for
Eliminating the evil of corruption in an organization?
Introduction:
Ethics, social responsibility of business and corporate
governance have become hot issues in the wake of a series scandal reported from all over the world. This subject needs special attention because multinationals operate in a large number of countries with varying standards of moral behavior and multicultural perceptions about what is right and what is wrong. Their workface also consists of high diversity with individuals having different values and beliefs. The is important also as economic programs of developed and developing countries cannot only be faster but also will be long lasting if built on strong moral foundation.
What is ethics?
‘Ethics is the discipline that examines the moral standards
practiced by an individual or a corporate or a society.’ It is a function of one’s consciousness. It is therefore beyond the boundaries of law. Some activities may be legal but may not be ethical, although law represents the moral code or standards practices by a society or country to resolve conflicts and allow freedom to achieve their uniqueness, pursue their goals and live in peace. It represents the practiced value system. While ethics, in general, is concerned with concepts of right and wrong for societal purposes .its practical essential is best expressed by the seven sins of Mahatma Gandhi, which are as under: Politics without Principles Wealth without work Pleasure without Conscience Knowledge without Character Commerce without Morality Science without humanity Worship without sacrifice
Ethical issues faced by Organizations:
Some of the common unethical practices business resort to include: Manipulation of stock markets: In India manipulation of stock market is not uncommon. There are several investigations and a few brokerage firms and individuals have been prosecuted. MNCs generally avoid manipulation of capital markets. Lobbying: This is a tool of public relations. Japanese more than other countries spend millions of dollars in the US every year to bend rules in award of contracts or to get sensitive information or restricted equipment. Fudging of Accounts and Balance Sheet: It is very common in developing countries like India and Indonesia to manipulate accounts to avoid taxes or manipulate share price before public issue. Eg: Enron, world.com, water cooper and Satyam. Product Piracy: Lax enforcement of intellectual property rights has resulted in large-scale piracy of music and picture videos, software, fake drugs and other intellectual property capital in China, India, Latin America and Eastern Europe. It is estimated that 30,000 shops in Shangai alone sell pirated videos. Surrogate and Deceptive Advertising: There are many ethical issues in advertising, including violation of cultural norms and nudity, apart from false information to customers. Eg: cake and Pepsi. Discrimination in selection, competition and promotion: In spite of equality laws in different countries companions still practice same bias in selection and other management process on the basis of gender, colour, and race and show ethnocentrism. Sexual harassment at workplace is a growing trend.
Suggestions to eradicate corruption:
1. Institution of strong ethical structure based on social
values and professional requirements. 2. Institution and execution of sound process of business. 3. Promote a clear understanding of ethical behavior and its advantages in individual and business growth. 4. Strong action against unethical behavior. 5. Speedy disposal of unethical behavior cases. 6. Sound appraisal system. 7. Planning and execution of a clearly defined award and reward system based on professional ethics. 8. Transparency in working.