ETHICS:
- Ethics is a set of rules that define right and wrong conduct.
- Ethics is a code of morale or morale philosophy which is practiced by the humans or group of people in their life.
- It affects that how the people lead their life and decision making .
- It concerned about what is good or bad for individuals , society and also defined as moral philosophy.
BUSINESS ETHICS:
- It can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company.
- In the business world ,the organisation's culture sets standards for determining the difference between good and bad decision making and behavior.
- In the business world the organisation culture set standards for the determining the difference between good or bad behavior.
Here we will be looking after various ethical and unethical issues in departments of management like-
- Human resourse
- Marketing
- Finance
ETHICAL ISSUES IN MARKETING
Ethics in marketing refers to moral guidelines and
principles that every organisation should follow. Every company has a
particular marketing policies to guide their pricing advertising ,research,and
various other provisional and competitive strategies.
e.g-various market brand knows that their reputation will be severely damaged by any kind of misinformation.
various ethical issues in marketing are-:
- Deceptive marketing policies.
- Adequate market research.
- Current market research.
- Ethics marketing and promotion.
- various delivery channels.
- Current market condition.
UNETHICAL ISSUES IN MARKETING:
In present scenario
corporate trust has been on a lower side. Customers faith from organisations
has no longer that strong.
Some of the major unethical practices are :
- Misleading advertisement with false claims that supports their product.
- Emotional exploitation.
- contacting people without having their knowledge.
- false promises for the products in sake of profits at large scale.
- misinterpretation of services.
- Exploitation.
- Spamming.
- Confuse potential buyers.
- exaggerated and unverified claims using fear tactics.
- plagiarism of marketing message
Ethical issues in HR
Human resource is used to describe both the people who worked for the company and the organisation and the department responsible for managing resources related to employees
.HRM involves both strategic and comprehensive approaches to managing people as well as workplace culture and environment.
Various ethical issues related to human resource are-
- Employee Responsibility: Organisation also have responsibility of their employer,as an employee you have a duty of care,responsibility of safety at work place,ensuring workers receive sufficient,information, ,instruction and training in the work place that the work may be required to perform.
- Restructuring and lay offs: It is temporary suspension or permanent termination of employment of an employee or more commonly group of employee for corporate reason such as personnal management or downsizing an organization.
- Performance Appraisal: Ethics should be considered on the basis of performance appraisal. Highly ethical evaluations demands the honest assessment of the performance and steps should be taken to improve the effectiveness of employee.
- Cash and incentives plans: cash and incentives plans should be includes the basic issues like salaries, bonus, annual increment, or incentives, executive perquisites,and long term incentives plans.
- Employees discrimination: A frame work of laws and regulation has been evolved to avoid the practice of treatment of employee on the basis of their caste,gender,religion,age,disability,etc . there should be no discrimination with the worker.
Unethical issues in HR:
There are following unethical issues in human resource
management which is listed below-:
- Misusing company time : Whether it is covering for someone who shows an update or altering a time sheet , misusing company time top list . This category includes knowing that one of your worker is receiving personal business during company time.
- Abusive behavior : There are many workplace where are so many managers or supervisors who use their power and position to mistreat the workers or disrespect them. Unfortunately, the situations are involved in discrimination,race,gender,etc. Often there is no legal protection against such an abusive behavior in the workplace.
- Employee theft : According to recent study by Jack L.Hayes International, one out of every 40 workers in 2012 was caught stealing from their employer. Employee fraud is also on the uptick ,whether its checking ,tempering, not recording sales in order to skim etc.
- The FBI recently reported that employee theft is the fasting growing crime in the U.S today.
- Lying to employee : The bad way to lose the believe of their your employee is to lie them. Yet , workers do it all the time.One of out of every 10 employee report that their manager and supervisor had lied to them within the past year.
FINANCE :
Finance refers to the management of large amounts of money.
It is also known as ‘art of money management.’
Ethical Issues in Finance :
Finance mangers are often confronted with ethical issues like:
- Full disclosure and transparency.
- Professional duty vs company demands.
- Individual judgements vs demand from clients.
- Accuracy.
- Timeliness.
Unethical Issues in Finance :
Following are some unethical
issues of finance:
- Delays in payments to vendors and dealers.
- Delays in paying wages, interest to financiers, incentives and bonus to employees.
- Opening of current accounts in different banks to avoid adjustments against loans by earlier banker.
- Taking private finance from only those who are ready to do personal favours to finance department head.
