Define what business ethics is?

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 organization’s 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.

Explain the importance infortance of business ethics?

Business ethics is especially important in dealing with customers. Maintaining integrity in the
customer facing side of your business is crucial to building client relationships, to assisting the
overall branding efforts. Likewise, it's an important step in minimising returns and protecting
business goodwill, which will have a tangible effect on the success or otherwise of your business.

Ethics wise, it's also important to consider how you deal with customer issues and customer
service. While some businesses are prepared to sacrifice customer service for pound signs, there
is not only a sensible business reason for providing adequate support but also strong ethics and
moral reasons for providing help and assistance to your customer base.

Ethics is no doubt an important business subject for any entrepreneur to study, but it also has a
wider application throughout organisations. One man's concept of what is ethical and for the best
may be completely different from another man's concept, and so it's important to establish a
collective set of ethics that represent the entire organisation rather than just adopting a piecemeal
approach. This can be installed through training, through creating business policies and even
through careful selection at the HR stage, although it's important that there are also enforcement
mechanisms within the business concerned, and that ethics remain a forefront consideration in
day-to-day trade to ensure a unified, morally sound approach to doing business.

Describe the relationship between ethics?

The relationship between business and ethics is intrinsically entwined. A successful

company is one which can effectively recognize and cultivate the relationship which
exists between the two.

Businesses that exhibit and promote strong corporate codes of ethics are more
prosperous in the long run because they show a commitment to an expectation of sound
moral behavior. This demonstrates a dedication to society, customers, employees and
the business itself. It also enhances a company's reputation if they become commonly
known as an ethical company, and this brings more value to the organization.

Identify the limitation of ethics and business?

1. Limitation to one target: The focus on one or a few functions - the limitation to the
core competency - is almost always an advantage. (s. Cools/Van Prag) That is surely
true - but causes a lot of problems for all important functions that are not of interest to
the business:
Even if the is no excessive exploitation, the economical valuing forces to discount future
events, be they goods or damages.
2. Use of cunning and prank, strategy and tactics - instead of truth and convincing
arguments

3. Player's ethics - not religious ethics!

4. The limited freedom of business: That is not only true for business, but for all people.
Günther Ropohl's central thesis is: Complex and highly developed risk-societies limit
man in his use of freedom so much, that only very small room for ethical engagement of
individuals is left. Man is bereft of his capacity to act free and responsible. Ethical
"though shoulds" would have to be preceded by a factual ability. That means that
business-ethics can't demand the impossible from the companies.

Explain the main tenets of human responsibilities?

Explain the aspects of controlling the free enterprice?

Planned economy (or command economy) is an economic system in which the state
directs the economy.[1] It is an economic system in which the central government
controls industry such that it makes all decisions regarding the production and
distribution of goods and services.[2][dead link] Its most extensive form is referred to as
a command economy,[3] centrally planned economy, or command and control economy.
[4] In such economies, central economic planning by the state or government controls
all major sectors of the economy and formulates all decisions about the use of resources
and the distribution of output.[5] Planners decide what should be produced and direct
lower-level enterprises to produce those goods in accordance with national and social
objectives.[6] Planned economies are in contrast to unplanned economies, i.e. the
market economy, where production, distribution, pricing, and investment decisions are
made by the private owners of the factors of production based upon their individual
interests rather than upon a macroeconomic plan. Less extensive forms of planned
economies include those that use indicative planning, in which the state employs
"influence, subsidies, grants, and taxes, but does not compel."[7] This latter is
sometimes referred to as a "planned market economy

Discuss the development of human conduct?