The definition of business ethics...
According to Andrew Crane business ethics is..........
According to Raymond C. Baumhart business ethics is..........
"The ethics of business is the ethics of responsibility. The business man must promise that he will not harm knowingly."
Ethics is a branch of social science. It deals with moral principles and social values. It helps us to classify, what is good and what is bad? It tells us to do good things and avoid doing bad things.So, ethics separate, good and bad, right and wrong, fair and unfair, moral and immoral and proper and improper human action. In short, ethics means a code of conduct.
They must avoid involve in unfair trade practices like adulteration, promoting misleading advertisements, cheating in weights and measures, black marketing, etc. They must give fair wages and provide good working conditions to their workers. They must not exploit the workers. They must encourage competition in the market. They must protect the interest of small businessmen. They must avoid unfair competition. They must avoid monopolies. They must pay all their taxes regularly to the government.
Why business ethics is considered as "Oxymoron"?
Business ethics, it has been claimed, is an oxymoron by Collins in 1994. By an oxymoron, we mean the bringing together of two apparently contradictory concepts, such as in 'a cheerful pessimist' or 'a defining silence'.
The definition of corporate governance...
Corporate governance is the processes and structure by which business and affairs of corporate sector is directed and managed.
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