ETHICS AND ITS IMPORTANCE ACROSS VARIOUS DEPARTMENTS OF MANAGEMENT

Friday, February 22, 2019

ETHICS AND ITS IMPORTANCE ACROSS VARIOUS DEPARTMENTS OF MANAGEMENT.



ETHICS

Ethics or moral philosophy is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. The field of ethics, along with aesthetics, concerns matters of value, and thus comprises the branch of philosophy called Ethics.

BUSINESS ETHICS

Business ethics is the study of proper business policies and practices regarding potentially controversial issues such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.

           DIFFERENCE BETWEEN ETHICS AND MORALS

PHASES OF BUSINESS

• Human Resource
• Finance
• Marketing.

HUMAN RESOURCE MANAGEMENT

Human resource management is a practice of recruiting,selecting,managing the human resources.

ETHICAL ISSUES IN HUMAN RESOURCE MANAGEMENT.

1. Cash and Compensation Plans
2. Race, gender and Disability
3. Employment Issues
4. Privacy Issues.

UNETHICAL ISSUES IN HUMAN RESOURCE MANAGEMENT

1.  Employment Issues
2.  Cash and Incentive Plans
3.  Employees Discrimination
4.  Performance Appraisal
5.  Privacy
6.  Safety and Health
7.  Restructuring and layoffs.

FINANCE

It is related with planning,organizing,directing,controlling the financial activities.

ETHICAL ISSUES IN FINANCE

1. ACCURACY
2. TRANSPARENCY
3. TIMELINESS
4. INTEGRITY

UNETHICAL ISSUES IN FINANCE

1. GOVERNANCE
2. SALES
3. LAW
4. FINANCE
5. MEDICINE
6. BANKING
7. MANUFACTURING.

MARKETING

It is related with buying and selling of goods or services ,including market research and advertising from one place to another.

ETHICAL ISSUES IN MARKETING

1. Grouping the market audience
2. Ethics in Advertising and Promotion
3. Delivery Channels
4. Deceptive Marketing Policies and Ethics
5. Anti-Competitive Practices.

UNETHICAL ISSUES IN MARKETING

1. Making false, exaggerated, or unverified claims
2. Distortion of facts to mislead or confuse potential buyers
3. Concealing dark sides or side effects of products or services
4. Bad-mouthing rival products
5.  Using women as sex symbols for advertising
6. Using fear tactics
7. Plagiarism of marketing messages.

THE TIME IS ALWAYS RIGHT TO DO WHAT IS RIGHT