Business Ethics and Corporate Governance's Assignment. ^_^

   

The definition of Business Ethics..

Business Ethics is an ethics that examines ethical rules and principles within a business situation, activities, and ethical problems that can arise in a business where issues of right and wrong are addressed.

The variety of problem that can arise from the business environment like how the employees, management, and the corporation can deal with them ethically. Problems such as fiduciary responsibility, corporate social responsibility, corporate governance, shareholder relations, insider trading, bribery and discrimination are examined in business ethics.

Business Ethics also can be defined as moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour  They should not unlawfully use copyrighted materials and processes. They should not engage in bribery.

So, the businessmen must avoid indulging in unfair trade practices like adulteration, promoting misleading advertisements, cheating in weights and measures, black marketing. They must give fair wages and provide good working conditions to their workers.  They must encourage competition in the market. They must protect the interest of small businessmen. They must avoid unfair competition. They must avoid monopolies. They must pay all their taxes regularly to the government.