Business Ethics – A Mission Statement
We have adopted the time-honoured advice for understanding key business ethics, which are broken down to the necessary and known important characteristics. These are:
Business ethics are the guiding principles of business function. It is the knowledge through which human behaviour is learnt in a business situation.
Business ethics is an ancient concept. It has its origin with the development of human civilization.
The principles of ethics develop the personal dignity. Many of the problems of ethics arise due to not giving dignity to an individual. All our business decisions are driven by giving dignity to the customers, employees, distributors, shareholders and creditors, etc. Avoiding developing immorality in the business that business conducts.
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Related to the Human Aspect
Business ethics studies those activities, decisions and behaviours which are concerned with human aspect. It is the function of the business ethics to notify those decisions to customers, owners of business, society, competitors and others on good or bad, proper or improper, conduct of business.
Study of Goals and Means
Business ethics is the study of goals and means. It accepts the principles of “Pure goals inspire for pure means” and “Means justifies the end”. It is essential that goals and means should be based on morals & ethics. Profit at any price is niether moral nor ethical.
Social Responsibility + Business Responsibility
Social Responsibility mainly relates to the policies and functions of an enterprise, whereas Business Responsibility relates to the ethics, conduct and behaviour of the team. It is a fact that the Social Responsibility of a business and its policies are mainly influenced by the Business ethics.
Greater than Law
Although the law approves various social decisions, the law is not greater than ethics. Law is usually related to the minimum control of social customs whereas ethics gives importance to individuals and social welfare actions.