P1 Business Ethics

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Business ethics are a set of codes and principles that govern decisions and actions undertaken by a firm, organisations will have standards to decide what decisions are good and bad and what decisions made and behaviour is acceptable and unacceptable, business ethics helps businesses decide what is right and what is wrong, the codes and principles set can apply to an individual in an organisation or to an organisation as a whole. Companies will have to make decisions in each of their operations as they want to work to achieving their aims and objectives, in the companies operations there may occasionally poor decisions being made which can have an impact on the stakeholders in the business. Some operations that ethical issues could be present in include; * Buying

* Advertising
* Pricing
* Suppliers
* Selling
A business cannot be ethical if they purchase supplies from a supplier with a history of unethical acts. The business may ignore the fact that the supplier has an unethical history and therefore it is wrong if they continue as an ‘ethical’ company. Examples of unethical actions and behaviour from a supplier may include using child labour and forced labour, producing goods in sweatshops, violating the human rights of workers, not abiding to Health and Safety, work and environmental legislation. Businesses may have ethical behaviour in their business but it does necessarily mean they are an ethical business because of the other factors they need to consider before claiming they are an ethical business. Individual Ethical behavior is the standards that individuals hold for themselves based on honesty, responsibility and how they treat other individuals. These standards are applicable to whatever you become, your behavior in your community or even in even in the individuals household. Individual Ethical behavior consists of applying one’s own standards even when it is not appropriate to do so. My own beliefs and standards for myself then they would be my individual ethic values and I would have my own ethical behavior to support my own personal ethic beliefs. Professional ethical behavior is abiding to a set of rules governing a professional; each professional has to have a particular behavior in a profession that has these codes to follow. The code governs the actions, decisions, relationships and transactions of professionals in their profession. Businesses have values that are main standards that guide a company into how it does its business; they summarize what the business stands for and make the business unique in comparison to other firms. These values stay the same even if the business decides to change plans and strategies for the future. Management in ethical business need to adapt so they can satisfy employees and customers who may have their own ethics, management will need to hold meetings and discuss how to make the business more ethical. They will concentrate on introducing ethics into the workplace so the business is seen as ethical and employees enjoy their work. Management will constantly have to analyze their company’s business values and come up with plans on how to promote these values and they will continue to show what they stand for and what they believe in. Management may adopt ethical behavior as a marketing plan and will try and promote ethical behavior and ethical standards throughout the business so customers recognize that the business has standards and will be willing to pay for products or a service from a business that is ethical and fair.

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