NTA-NET (UGC-NET) Commerce (08) Human Resources Management-Concepts, Role and Functions Study Material (Page 10 of 26)

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Business Ethics- Meaning and Importance

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Business Ethics Meaning

  • Ethics is a set of rules which describes practices are right or justified and what are wrong or unfair. Here, right deeds are known as ethical and wrong as unethical.
  • Business ethics are application of ethical values in business dealings.
  • Business ethics require analysis of impact of business decisions on its stakeholders and measures to be taken to protect their interest.
  • It helps in maintaining peaceful relationship with society and other organizations along with reevaluating already set moral conduct.
  • It can also be defined by 3C՚S:-

Compliance

Following laws, organizational policies and moral principles like honesty, doing things fairly etc.

Contribution

It includes serving the soc…

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Corporate Culture Based on Values

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Introduction

Lack of value system, in corporate sector, leads to socio-economic problems in our country. Therefore, core value system needs to be inculcated within an organization to protect, preserve and promote its ethical culture.

Culture

  • Culture is a knowledge shared by large number of people in a group. It is that communication where people transmitted their learned experiences through social learning.
  • Culture is the totality of the learned behavior of a group of individuals which distinguishes them from other group or category of individuals.

Characteristics of Culture

Culture…

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