The study of good business practices and rules concerning issues of controversy like corporate social responsibility, corporate governance, corruption, unfairness and fiduciary duties are called business ethics (Gross & Holland, 2012). In business most of the times rule and law guide the ethics, at first office starting day the HR department of that office provides the rule, regulation and policy book to all employees. There is mention all the things what you can do or what don’t? This means there is clearly mention your role and responsibly clearly with consciousness. If any business ethics make clear understanding, builds trust between the consumer and staffs and boards. If any staffs possess her/his value and ethics with their customer then only business grow otherwise there might be big trouble. The 21st-century business concept is customer focus so that we should keep in our mind customer are god for us so we always give them respect internally not forcefully. Internal respect, ethics just managed through our core values which guide us in a right way. Every times rulebook and guides might not be useful sometimes we will be able to decide through own way at that time value guide us in positive direction. For example: Mr. Ram is a CEO for "A” class Bank in Nepal and his bank is making maximum profit in Nepali Market. He is good in leadership and team building capacity. He motivates easily his entire team. His son also graduated in MBA from one of the reputed university in Nepal. So he direly enter his son in office as an Assistant Manager which is unethical to all staffs. They are waiting from long time to that post but one guy who has good academic but not experience in managerial position is unethical for appointing him as a Manager. So due to that only one reason Ram is Unethical.
Nowadays, every business firms are aware of business ethics. The awareness of business ethics raised in 1960’s because firms became aware of the customer’s increasing awareness or environment? An issue, social issue and business responsibility (Barrett, 2014). In above case, Ram wasn’t able to handle the business responsibility. The book can’t guide the business ethics so we need a value which we learned from our childhood, school, college and professional culture. So value drive us properly and these are Accountability, Transparency, Integrity, Trust, and Meritocracy etc.
Now, here I am going to present a real story of good ethical practice in TATA industry. Mr. Ratan Tata is founder and president for TATA and TATA is the big industry in world. TAJ is a Hotel which was acquired by TATA companies and Mr. Cyrus Mistry was CEO of TATA Company. He has high level of intensity, passionate in hospitality industry and visionary guy. He saved TAJ Hotel, when terrorist attack was happed in 2008. He has better skill to solve any kinds of problem. He is good leader and team players and expert in Hospitality industry. But he did one mistake in TATA industry. He faced sexual harassment charges in there then Mr. TATA take an initiation and did deep inquiry after that fired him from TATA industry. Which is one of the best ethical business decision in international business. So that, TATA is renowned for its long standing ethical culture and yet it is one of the most spectacularly profitable companies of all times (Friedman & Lewis, 2014).
References
Barrett, R. (2014). The Importance of Values in Building a High-Performance Culture. Barret Value Center .
Friedman, H. H., & Lewis, B. J. (2014). A new kind of CEO for the global information age: Business Quest and Cyres Mistry Case Study. Retrieved from westga.edu/~bquest/2014/ceo2014.pdf.
Gross, R., & Holland, B. (2012). Corporate social responsibility and employee engagement: Making the connection, Retrieved from. mandrake.ca/bill/images/corporate_....
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The study of good business practices and rules concerning issues of controversy like corporate social responsibility, corporate governance, corruption, unfairness and fiduciary duties are called business ethics (Gross & Holland, 2012). In business most of the times rule and law guide the ethics, at first office starting day the HR department of that office provides the rule, regulation and policy book to all employees. There is mention all the things what you can do or what don’t? This means there is clearly mention your role and responsibly clearly with consciousness. If any business ethics make clear understanding, builds trust between the consumer and staffs and boards. If any staffs possess her/his value and ethics with their customer then only business grow otherwise there might be big trouble. The 21st-century business concept is customer focus so that we should keep in our mind customer are god for us so we always give them respect internally not forcefully. Internal respect, ethics just managed through our core values which guide us in a right way. Every times rulebook and guides might not be useful sometimes we will be able to decide through own way at that time value guide us in positive direction. For example: Mr. Ram is a CEO for "A” class Bank in Nepal and his bank is making maximum profit in Nepali Market. He is good in leadership and team building capacity. He motivates easily his entire team. His son also graduated in MBA from one of the reputed university in Nepal. So he direly enter his son in office as an Assistant Manager which is unethical to all staffs. They are waiting from long time to that post but one guy who has good academic but not experience in managerial position is unethical for appointing him as a Manager. So due to that only one reason Ram is Unethical.
Nowadays, every business firms are aware of business ethics. The awareness of business ethics raised in 1960’s because firms became aware of the customer’s increasing awareness or environment? An issue, social issue and business responsibility (Barrett, 2014). In above case, Ram wasn’t able to handle the business responsibility. The book can’t guide the business ethics so we need a value which we learned from our childhood, school, college and professional culture. So value drive us properly and these are Accountability, Transparency, Integrity, Trust, and Meritocracy etc.
Now, here I am going to present a real story of good ethical practice in TATA industry. Mr. Ratan Tata is founder and president for TATA and TATA is the big industry in world. TAJ is a Hotel which was acquired by TATA companies and Mr. Cyrus Mistry was CEO of TATA Company. He has high level of intensity, passionate in hospitality industry and visionary guy. He saved TAJ Hotel, when terrorist attack was happed in 2008. He has better skill to solve any kinds of problem. He is good leader and team players and expert in Hospitality industry. But he did one mistake in TATA industry. He faced sexual harassment charges in there then Mr. TATA take an initiation and did deep inquiry after that fired him from TATA industry. Which is one of the best ethical business decision in international business. So that, TATA is renowned for its long standing ethical culture and yet it is one of the most spectacularly profitable companies of all times (Friedman & Lewis, 2014).
References
Barrett, R. (2014). The Importance of Values in Building a High-Performance Culture. Barret Value Center .
Friedman, H. H., & Lewis, B. J. (2014). A new kind of CEO for the global information age: Business Quest and Cyres Mistry Case Study. Retrieved from westga.edu/~bquest/2014/ceo2014.pdf.
Gross, R., & Holland, B. (2012). Corporate social responsibility and employee engagement: Making the connection, Retrieved from. mandrake.ca/bill/images/corporate_....