Documente Academic
Documente Profesional
Documente Cultură
Assignment
BusinessLaw
CourseCode: Bus 361
Assignment on
Submitted to
Fahmida Hasan
Senior lecturer
Department of business administration
East West University
Submitted by
Name--------------------------id
1. Md jafrul Hasan----2011-2-10-202.
2. Omur faruq----------2011-1-13-069.
3. Jubair Hossen-------2011-1-10-436.
4. Md asifuzzaman----2011-2-10-108.
5. Sadia Chowdhury---2010-2-10-262.
6. Kulsum Akhter euna-2010-2-10-088.
Sec:3
Semester:Fall 2014
DepartmentofBusinessAdministration
SubmissionDate: 08-12-2014
East West University
2
Index
Content
Acknowledgement
Letter of transmittal
Index
Introduction
Definition
History
Ethical consideration in business
Factor that affect in business ethics
The 9 theories of ethics
Comparing absolute and relative ethics
Difference between absolute and relative
morality
Business ethics practice in Bangladesh
Ethics practice in different business sector
of Bangladesh
Ethics in consumer perspective
Cheap labor is an advantage or
disadvantage in perspective of ethics
Ethics in buyer perspective
The employment relation in business ethics
International business ethics
Criticism
Business ethics and social responsibility
Importance of ethics
Some principle for ethical business decision
making
Ethical issues that affect the success of a
business
The advantages of ethical behavior in
business
Ethics of production
Ethics in sales and marketing
Some suggestion to practice ethics
Ethics practice in different MNC in
Bangladesh
Ethical Approach
Page
no:4
5
3
6
6
6-7
7
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9
9
9-10
10
10
10-11
11-12
12-13
13
13-14
14
14-15
15
16
ACI, UNILIVER.
16
16-17
17
18-19
18
19
Unethical Approach
Finding analysis
Business corruption increase because of
lacking of Ethics
Conclusion
Bibliography
20
20
20
21
Acknowledgement
We are really grateful because we managed to complete our Business Ethics Assignment within
the time given by our respected faculty Fahmida Hasan Mam. This assignment cannot be
completed without the effort and co-operation from our group members, Group members- md
jafrul Hasan, omur faruq, Jubair Hossen, md.asifuzzaman, sadia Chowdhury, kulsum Akhter
Euna.
We also sincerely thank our honor Mam of Bus-361(Bus Law) Fahmida Hasan for the guidance
and encouragement in finishing this assignment and also for teaching us in this course. Last but
not least we would like to express our gratitude to our friends and respondents for the support
and willingness to spend some times with us to fill in the questionnaires.
Letter of transmittal
December 08, 2014
Ms. Fahmida Hasan
Senior lecturer.
Department of Business Administration.
East West University.
Subject: Assignment on business ethics in Bangladesh
Madam,
Here is the Report you asked us to prepare and submit as a part of our course curriculum. We have been
assigned to prepare a Report on business ethics in Bangladesh based on the both primary and secondary
information. Basically this Report focuses on the ethical system of business in Bangladesh. It is a great
pleasure for us to submit this paper.
We have tried our best to make it a good one within given time. Any sort of suggestion regarding this
Report would be gladly appreciated.
Sincerely,
Name
ID
2011-2-10-202
2011-1-13-069
2011-1-10-436
2011-2-10-108
2010-2-10-262
2010-2-10-088
Signature
Introduction
Business ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics
of a particular business can be diverse. They apply not only to how the business interacts with the world
at large, but also to their one-on-one dealings with a single customer.
Many businesses have gained a bad reputation just by being in business. To some people, businesses are
interested in making money, and that is the bottom line. It could be called capitalism in its purest form.
Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that
brings up the question of ethical behavior.
Definition
Business ethics 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 organizations culture sets standards
for determining the difference between good and bad decision making and behavior. In the most basic
terms, a definition for business ethics boils down to knowing the difference between right and wrong and
choosing to do what is right. The phrase 'business ethics' can be used to describe the actions of individuals
within an organization, as well as the organization as a whole Business ethics are ethics that refer to the
moral rules and regulations governing the business world. In other words, they are the moral values that
guide the way corporations or other business make decisions. Some business ethics are imposed by law.
For example, the Securities and Exchange Commission governs the way investment bankers and stock
brokers do business, and court rules dealing with attorney client privilege dictate some ethical decisions
for attorneys. However, there are also business decisions that do not fall within the guidelines of the law,
in which ethical or moral judgments must be made.
In concept, business ethics is the applied ethics discipline that addresses the moral features of commercial
activity. In practice, however, a dizzying array of projects is pursued under its rubric. Programs of legal
compliance, empirical studies into the moral beliefs and attitudes of business people, a panoply of bestpractices claims (in the name of their moral merit or their contribution to business success), arguments for
(or against) mandatory worker participation in management, and attempts at applying traditional ethical
theories, theories of justice, or theories of the state to firms or to the functional areas of business are all
advanced as contributions to business ethics even and especially in its academic literature. These
projects vary considerably and often seem to have little in common other than the conviction, held by
those who pursue them, that whatever each is pursuing is business ethics. Almost everyone wants to live
an ethical life, but knowing what that means is not as simple as it sounds! That's where the phrase ethical
dilemma comes from. In some situations, there are two contrasting ideas that may seem ethical, but it is
hard to determine which actually the right course of action is. Some common ethical dilemmas have little
consequence: for example, is it right to tell a fib when someone asks you if they look fat or if their bad
tasting dinner is delicious? The ethical dilemma there: which is more ethical, lying or being unkind?
Other ethical dilemmas become a big more complex: for example, is it right to steal from the rich to give
to the poor? Is it right to fight wars in the name of a good cause, even if innocent people are injured? The
answers to these ethical questions depend on definition of ethics!
History
Construedbroadlyasmoralreflectiononcommerce,businessethicsisprobablyasoldastradeitself.Iflawisaroug
hguidetowidelyheldmoralintuitionstheprescribingpricesandtariffsandlayingdownbothrulesofcommerceandharshpenalties
fornoncompliance,evidencessomeofcivilization'searlierattemptstoestablishthemoralcontoursofcommercia
lactivity.Aristotle'sPoliticsaddressesexplicitly commercial relations in its discussion of household
management.
Althoughacademicinstructionexplicitlydevotedtotherelationshipbetweenethicsandcommercecanbefoundi
nU.S.businessschoolsasearlyasthefirstthreedecadesofthe20thcentury,particularlyinCatholiccollegesandun
iversities,creationofacademicpositionsdedicatedexplicitlytobusinessethicsinU.S.businessschoolstrackscl
6
oselywavesofcorporatescandalfromthe1980stothepresent.In1987,inthemidstoftheinsidertradingscandalon
WallStreet,formerSecuritiesandExchangeCommissionheadJohnShadgavetheHarvardBusinessSchoolover
$30million for the purposeof startinga businessethics program there.
Academicbusiness
ethicists
address
questions
that
range
across
the
functional
areasofbusiness,givingrisetovariousrecognizedspecialtiesinbusinessethics(e.g.,marketingethics,financeet
hics,accountingethics).Butdespitethewiderangeofquestionspursued,thebulkoftheacademicliteratureanddis
cussionisfocusedmorecloselyon(andmuchofthefunction-specificworkisconnectedcloselyto)thelarge
corporation whose ownership shares are traded on public exchanges.
Businessethicsbeingpartofthelargersocialethics,alwaysbeenaffectedbytheethicsoftheepoch.Atdifferentepo
chsoftheworld,people,especiallytheelatesoftheworld,wereblindtoethicsandmorality,whichwereobviously
unethicaltothesucceedingepoch.
Honesty
Objectivity
Integrity
Carefulness
Openness
Respect for intellectualproperty
Confidentiality
Responsible publication
Responsible mentoring
Respect for colleagues
Social responsibility
Non-discrimination
Competence
Legality
Human subjects protection
On the other hand, confidentiality is most important when it comes to attorney ethics. The law recognizes
that attorneys have such a high moral obligation to keep their clients secrets confidential, that if an
attorney violates this ethical duty, he can lose his license to practice law. Human subjects protection, on
the other hand, is most important when it comes to those in medicine or those conducting experiments on
others such as psychologists. Peer review boards and other such institutions govern experiments designed
to be conducted on human subjects to ensure that business ethics are followed and that experimenters
make the best moral and ethical decisions.
Ethical means that the product is environmentally friendly or made from organic or recycled materials.
But actually a company would need to ensure that workers throughout their supply chain are able to
exercise their internationally-agreed labor rights before they can be called 'ethical.'
Over the last couple of years the Ready Made Garments (RMG) sector of Bangladesh has experienced
impressive growth rates and became the 2nd largest apparel product exporter to the world. Its hard
to find a wardrobe in Europe and USA, which is not ornamented with clothing made in Bangladesh.
The clothing sector contributes about 80% of the total export earnings of Bangladesh and currently
employs approximately 5 million workers, mostly females from underprivileged social classes. But
unfortunately the clothing worth of around 20 billion dollar made here in Bangladesh per year has to
pay a big off-screen price that cannot be measured in dollars. This is because there is lack of ethics in
starting from buyers, manufacturers to the workers. Lack of ethical sourcing, negligence of corporate
ethics and abuse of trade unionism is resulting in disasters for the clothing industry.
The thriving Textile and Clothing (T&C) sector is again under image-crisis as Rana Plaza equipped with
5 garments industry collapsed seizing life of more than thousand garments workers. With Rana Plaza,
whatever improvement was on the card in concern with the working condition in the garments industry
after Tazreen fire tragedy, also collapsed. Its not the case only with Rana Plaza but the case is, with every
incidence like this, the over-all sick-scenario of the working condition in the clothing industry comes into
limelight. Of course, Rana Plaza collapse is a crime and the industry does want justice for the killing of
1130 lives; but the industry is in dire strait for image-crisis. In this circumstances what the T&C industry
needs is work ethics. Market today thinks its work ethics in every sphere of the industry that can bring
a sustainable change.
practice business ethics. Greed for humongous profit persuades them to cut-off from the poor workers
part. And these are the awful factories from where the unrests take place. Labor is cheap, okay, so why
always use this for personal benefits. Why the owners are not smart enough to negotiate the right value of
their workers hard work from the buyers. Buyers need cloths, and we have the capacity. So, why should
we agree to produce them at the most minuscule price. They are making billions out of the same product.
Where is our workers part of that profit? It is to be noted that only a very small portion of a clothing
products end price goes to the workers. A small part of it is spent to maintain local and international
offices and outlets. A part is spent for the inspection companies, even there are nomination-commission
businesses. And the left part is the profit. So its not a big deal for the retailers to contribute towards the
welfare of the workers. Research shows only a mere 2 cent can do the trick. Additional $0.02 per garment
is enough to double the workers wages. Unfortunately, most of the buyers are not ready to take such
steps.
Some of the world's biggest fashion chains, including H&M, Zara, C&A, Tesco and Primark, have signed
up to a legally binding agreement to help finance fire safety and building improvements in the factories
they use in Bangladesh after the Rana Plaza tragedy. And its only the aftermath of the demonstration of
the customers to take responsibility for the collapse of Rana Plaza. Responsibility is supposed to be taken
by all of the parties concerned. That is the demand of work ethics in the clothing industry. With the
Buyers and manufacturers, the workers are also within the concerned parties and they cannot deny their
responsibility. Abuses of trade unionism to pursue unlawful benefits a real so common case here in
Bangladesh. . If the current practice is not changed, the cheap workers are going to remain cheap forever.
Is this where we want to end? To be a cheap clothing manufacturing country is really becoming like a
curse for the 5 million workers. The clothing industry has given a lot to the country and also to the
westerns who are wearing these cheap cloths. The industry really deserves practice of sourcing ethics
from the retailers, corporate ethics from the owners and work ethics from the workers.
ArgumentsadvancedindefenseoftheatwilldoctrineleanheavilyonconsequentialityProponentsattributethevibrantlabormarketoftheUnitedStatesan
dthestagnantlabormarketsofEuropetotheprevalenceoftheatwilldoctrineintheUnitedStatesandtheprevalenceofmandatoryjustcauseemploymentrulesinEurope.Mandat
oryjustbecauserulesareasignificantdisincentivetojobcreationandtothepursuitoflaborintensiveentrepreneurialventuresbecausetheyimposeheavyrecordkeepingandinfrastructurerequirementsonfirms.Thepointisthatemployeescanbeprotectedfromtheilleffectsofarbitrarydismissalintwoways.Oneway,favored byjust causeadvocates, is legally.
International BusinessEthics
Doingbusinesstransnationalraisesanumberofissuesthathavenoanalogueinbusinessdealingsdonewithinasin
glecountryorlegaljurisdiction.Internationalbusinessethicsseekstoaddressthoseissues.Whereethicalnormsa
reinconflict,owingtodifferentculturalpractices,whichethicalnormsoughttoguideone'sbusinessconductinoth
ernationsandcultures?
Somediscussionsofinternationalbusinessethicsconceivethishomecountry/hostcountryquestionascentral.O
nonehand,adoptinghostcountrynormsisawaytorespectthehostcultureanditsmembers.Thus,busynessperson
sareadvisedthatwheninRometheyoughttodoastheRomansdo
asinetiquette,sotooinethics.Ontheotherhand,businesspersonsareadvisedtoresisthostcountrynormsthatarem
orallyrepugnant.Thereinliestherub.When,forexample,briberyofofficialsiscentraltodoingbusinesswhereyo
uare,oughtyoutoembracethepracticeasamarkofculturalrespectorforswearthe practice on the grounds that
it is morally repugnant?
Onecommonapproachininternationalbusinessethicsistorefertoortoconstructlistsofnormsthatoughttoguidet
ransnationalbusinessconduct.Thus,forexample,theUnitedNations'UniversalDeclarationofHumanRightsor,
morerecently,theUnitedNationsGlobalCompact,isadvancedasaguidetoconduct.TheUNGlobal
Compactenjoinsbusinessfirmstosupportandrespectinternationallyrecognizedhuman
rights,
avoid
complicity
inhuman
rights
abuses,
uphold
freedom
of
associationandcollectivebargaining,eliminateforcedandcompulsorylabor,eliminate childlabor, eliminate
all forms of discrimination.
Employment,supportaprecautionaryapproachtoenvironmentalchallenges,promotegreaterenvironmentalre
sponsibility,encouragethedevelopmentofenvironmentallyfriendlytechnologies,andworkagainstcorruptioni
nallitsforms,includingextortionandbribery.Alternatively,whetherinspiredbysomethingliketheUNGlobalC
ompact,apreferredmoraltheory,apreferredtheoryofjustice,orsomecombinationoftheseorotherfactors,otherli
stsofnormsareproposedasguidestotheethicalpracticeoftransnationalbusiness.Theseguidelinescallfortheavo
idingharm,doinggood,respectinghumanrights,respectingthelocalculture,cooperatingwithjustgovernments
andinstitutions,acceptingethicalresponsibilityforone'sactions, and making hazardous plants and
technologies safe.
Theproblemswiththeseapproachesappeartobethreefold.First,theytendtominimizeorignorecompetitivereali
ty.ImaginethatourfirmtakesseriouslytheUNGlobalCompact.Wedobusinessinalessdevelopedcountrywithlo
ngstandingenvironmentalandcorruptionproblems.Weareimplementingasignificantenvironmentalinitiative
inthiscountry,butfindthatourabilitytodosodependsuponsecuringlicensesfromacorruptgovernmentbureaucr
acy.Ifwerefusetopaybribes,wewillbeunabletoimplementourinitiativeand,moreover,wewilllosemarketshar
eandoureconomicrationaleforlocatingoperationsinthiscountrytocompetitorswhohavenocompunctionabou
tpayingsuchbribes.Oughtwetopaybribesforthesakeofenvironmentalimprovementandmaintainingapresenc
einthiscountryorforsaketheenvironmentandapresenceinthiscountryinordertostrikeablowagainstcorruption
?
Althoughnotfocusingexplicitlyontheinternationalcontext,RonaldGreen(1991)standsvirtuallyaloneintakin
gseriouslythequestionofwhenandunderwhatconditionseveryone'sdoingitisamoraljustification
aquestionthatarisesregularlywhendoingbusinesstransnationalandincompetitivemarkets.Second,theseappr
oachesservemainlytoreduplicatethehomecountry/hostcountryquestiontheyareintendedtohelpanswer.Thus,
whenenjoinedbythegovernmentsandinstitutions,whichandwhosesenseofjusticeoughttoguidethedetermina
tionofwhetherthegovernmentsandinstitutionsaretobecooperatedwith?
Third,evenwhenenjoiningrespectforlocalculturesandmoralnorms,theseapproachestendtoprivilege
12
Criticism
Themainconversationinacademicbusinessethicsisfocusedonthelarge,publiclytradedcorporation.Itowesitsp
rescriptionsmainlytonormativepoliticalphilosophy,ratherthanmoraltheory.Itspeaksmoretopublicpolicytow
ardbusiness(andespeciallythelarge,publiclytradedcorporation)andtheinstitutionsofcapitalismthanitdoesto
ethicalbusinessconduct,i.e.,whatoneoughttobedoingwhenoneisdoing business.
Thiscriticismcomesinmilderandstrongervariants.AndrewStarkcallsinsteadforabusinessethicsfocusedmore
onthequotidiandecisionsanddilemmasofthemiddlemanager.Criticismsaremildbecauseheendorsesgenerall
ythelarge,publiclytradedcorporateandorganizationalfocus,seekingonlytomakethesubjectmattermorepracti
calandpitchedmoretothemiddleandlesstothetop-levelmanager.JosephHeath(2006)
findsacademicbusinessethicsreductionofallissuestobattlesofstakeholderinterestsbothmyopicandmisleadi
ng.Initsplace,hefavorsamethodologicalapproachthatseesunregulatedmarketfailures,ratherthanclashesofsta
keholderinterests,astheprincipaloccasionforethicaldeliberationandrestraint.
Inthestrongerform,criticismofacademicbusinessethicscanfocusonitsapparentirrelevancetothevastmajorityo
fbusinesspersonsintheworld.Thatmajorityworksneitherfornorwith(andcertainlydoesn'tlead)large,publiclytr
adedcorporations,yettheysurelyengageinbusiness.Whethercharacterizedasmicroenterprises,smallbusinesses,orinsomeotherway,thegreatbodyofacademicbusinessethicshaslittletosayaboutt
hecircumstancesfacedbythatmajority.AlthoughconceptuallythemicrolevelbusinessethicsofwhichSolomon
writesspeakstothecircumstancesofthatworldwidemajority,inpracticethatmicroethicsislittledevelopedbyandc
ommands scant attention fromacademic business ethicists.
ercialenterprise,andsocietyasawhole.Veryoften,situationsariseinwhichthereisconflictbetweenoneandmore
oftheparties,suchthatservingtheinterestofonepartyisadetrimenttotheother(s).Forexample,aparticularoutco
memightbegoodfortheemployee,whereas,itwouldbebadforthecompany,society,orviceversa.Someethicists
seetheprincipalroleofethicsasthe harmonization andreconciliation of conflicting interests.
Ethicalissuescanarisewhencompaniesmustcomplywithmultipleandsometimesconflictinglegalorculturalst
andards,asinthecaseofmultinationalcompaniesthatoperateincountrieswithvaryingpractices.Thequestionari
ses,forexample,oughtacompany toobeythelawsofitshomecountry,orshoulditfollowthelessstringentlawsof
the developing country in which it does business.
Toillustrate,UnitedStateslawforbidscompaniesfrompayingbribeseitherdomesticallyoroverseas;however,in
otherpartsoftheworld,briberyisacustomary,"accepted"wayofdoingbusiness.Similarproblemscanoccurwith
regardtochildlabor,employeesafety,workhours,wages,discrimination,andenvironmentalprotection laws.
Businessethicsshouldbedistinguishedfromthephilosophyofbusiness,thebranchofphilosophythatdealswitht
hephilosophical,political,andethicalunderpinningsofbusinessandeconomics.Businessethicsoperatesonthe
premise,forexample,thattheethicaloperationofaprivatebusinessispossible-thosewhodisputethatpremise,such
as
libertariansocialists,
(whocontendthat"businessethics"isanoxymoron) do so by definition outside of thedomain of business
ethics proper.
Businessethicsisalsorelatedtopoliticaleconomy,whichiseconomicanalysisfrompoliticalandhistoricalperspec
tives.Politicaleconomydealswiththedistributiveconsequencesofeconomicactions.Itaskswhogainsandwholo
sesfromeconomicactivity, and is the resultant distribution fair or just, which are central ethical issues.
Importance ofEthics
So,whyareethicsimportant?
Theyareimportantbecausetheykeeppeoplefromdoingwhatiswrong.Ifanindividualhas
noethics,hewilldothewrongthingwhenever he believesit will benefit him andthat he can get away with it.
Ethicsaredifferentthanlaws,anddifferentthandoingtherightthingasaresultoffearofconsequences.Whilesomet
hingthatisunethicalmightbeillegal,thereisnotnecessarilyaperfectoverlap.Furthermore,inmanywaysethicscan
beevenmoreimportantthanthelaw,sincethelawwillonlydeterapersonfrombadbehaviorifhe
fearspenalty,whileapersonwithastrongcodeofethicswilldotherightthingjustbecause it is the rightthing.
Ifapersonhadnocodeofethics,hecouldsteal,aslongasnoonewaswatching.Hecouldlietohislovedonesortostran
gers,aslongastheliedidn'trisetothelevelofcriminalfraud.Hecouldengageinallsortsofthingsthatwere"wrong"a
nd"bad"aslong
as
he
didn't
get
caught.
Sincethelawcan'tpossiblycatcheveryoneeachtimetheydosomethingbad,andthelawcan'tmakeevery"wrong"a
ctionillegal,societywouldquicklyfallapartiftherewere no ethical principles or moral rights orwrongs.
large number of situations doing nothing is the only truly wise way. Doing nothing is not weakness or
procrastination if it done in the right way for the right reasons.
6. Understand the long-term consequences. Model or brainstorm the 'what if' scenarios. Again look at
previous examples and history.
7. Check the law. In whatever territories are affected by the decision. But do not base business decision
wholly on the law.
8. Consult widely - especially with critical people
9. Consider cause and effect in the deepest possible sense.
10. Resist the delusion and arrogance that power and authority tends to foster.
11. Beware of justifying decisions according to religious faith. There is nothing wrong with having a
religious faith, but there are various risks in leaning too heavily on a god or faith when making serious
decisions.
12. Aim for solutions and harmony, objectivity and detachment.
Ethical people are those who recognize the difference between right and wrong and consistently strive to
set an example of good conduct. In a business setting, being ethical means applying principles of honesty
and fairness to relationships with coworkers and customers. Ethical individuals make an effort to treat
everyone with whom they come in contact as they would want to be treated themselves.
Build Customer Loyalty: Consumers may let a company take advantage of them once, but if they
believe they have been treated unfairly, such as by being overcharged, they will not be repeat
customers. Having a loyal customer base is one of the keys to long-range business success
because serving an existing customer doesnt involve marketing cost, as does acquiring a new
one. A companys reputation for ethical behavior can help it create a more positive image in the
marketplace, which can bring in new customers through word-of-mouth referrals. Conversely, a
reputation for unethical dealings hurts the companys chances to obtain new customers,
particularly in this age of social networking when dissatisfied customers can quickly disseminate
information about the negative experience they had.
Retain Good Employees: Talented individuals at all levels of an organization want to be
compensated fairly for their work and dedication. They want career advancement within the
organization to be based on the quality of the work they do and not on favoritism. They want to
be part of a company whose management team tells them the truth about what is going on, such
as when layoffs or reorganizations are being contemplated. Companies who are fair and open in
their dealings with employees have a better chance of retaining the most talented people.
Employees who do not believe the compensation methodology is fair are often not as dedicated to
their jobs as they could be.
Positive Work Environment: Employees have a responsibility to be ethical from the moment they
have their first job interview. They must be honest about their capabilities and experience. Ethical
employees are perceived as team players rather than as individuals just out for themselves. They
develop positive relationships with coworkers. Their supervisors trust them with confidential
information and they are often given more autonomy as a result. Employees who are caught in
lies by their supervisors damage their chances of advancement within the organization and may
risk being fired. An extreme case of poor ethics is employee theft. In some industries, this can
cost the business a significant amount of money, such as restaurants whose employees steal food
from the storage locker or freezer.
Avoid Legal Problems: At times, a companys management may be tempted to cut corners in
pursuit of profit, such as not fully complying with environmental regulations or labor laws,
ignoring worker safety hazards or using substandard materials in their products. The penalties for
being caught can be severe, including legal fees and fines or sanctions by governmental agencies.
The resulting negative publicity can cause long-range damage to the companys reputation that is
even more costly than the legal fees or fines. Companies that maintain the highest ethical
standards take the time to train every member of the organization about the conduct that is
expected of them.
Ethics of Production:
Ethics in production is a subset of business ethic that is meant to ensure that the production function or
activities are not damaging to the consumer or the society. Like other ethics there is a certain code of
conduct or standards to be followed, however ensuring that the ethics are complied with is often difficult.
confident of honest trade is one that will prosper. While some would fear that the
sales and marketing department would be the last place to go looking for ethical
guideposts, we could venture that this should be the first place to build a culture
with values that create a climate for sound business decision making and the
practice of ethical behavior. The public face of corporations is often painted by
brand identity, marketing messages delivered via various mediums and the sales
representatives who deal directly with the buying public. With an aligned, sound
code of ethics for marketing, sales and customer service, organizations would
theoretically build consumer confidence and shareholder value.
18
19
Not proper practice of law in Bangladesh. Laws and rules are relevant to Business. Laws that
might impact on business they are: consumer protection, contract law, intellectual property,
bankruptcy insolvency. But these laws are not properly practice in Bangladesh.
Bangladesh does not currently have any clearly defined competition policy at the macro level or
any sector specific policy that addresses competition issues. The government does not have any
institutional mechanism to review and administer existing and proposed policies that affect
competition or regulate business activities that are anti-competitive. The Monopolies and
Restrictive Trade Practices Ordinance (MRTPO) was promulgated in 1970 by the Government
of Pakistan. Since independence of Bangladesh, neither the government nor the private sector
has attempted to invoke the law.
Licenses, permits and permissions: most of the business of Bangladesh doesnt follow the
license and permission system of Bangladesh. So, people of Bangladesh can start business at any
23
Conclusion
Intheend,itmaybeuptothepublictomakesurethatacompanyadherestocorrect
businessethics.Ifthecompanyismakinglargeamountsofmoney,theymaynotwishtopaytoocloseattentiontoth
eirethicalbehavior.Therearemanycompaniesthatpridethemselvesintheircorrectbusinessethics,butinthisco
mpetitiveworld,they are becoming very few and far between.
24
Bibliography.
Books
Arnold,DenisG.andNormanE.Bowie.2003,SweatshopsandRespectforPersons,
Business Ethics Quarterly 13(2):221-242.
Baum hart,Raymond.1968,AnHonestProfit:WhatBusinessmenSayAboutEthics
and Business,New York: Holt, Rinehart and Winston.
Articles
Internet link:
http://www.thedailystar.net/bangladeshs-cpi-ranking-dips-53414
http://www.investopedia.com/terms/b/business-ethics.asp
https://www.princeton.edu/~achaney/tmve/wiki100k/docs/Business_ethics.html
http://businesscasestudies.co.uk/cadbury-schweppes/ethical-business-practices/ethics-atwork.html#axzz3LCn4LU8F
http://www.nortonrosefulbright.com/knowledge/publications/121081/business-ethicsand-anti-corruption-laws-bangladesh
http://www.scribd.com/doc/98506454/Business-Ethics-in-bangladesh
www.wikipedia.com
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