Explain the ethical issues a business needs to consider in its operational activities
Introduction
P1 – Explain the ethical issues a business needs to consider in its operational activities.
Definition Of Business Ethics
Ethics are to do with what is right and what is wrong. Ethics plays an increasingly important role in business. A business is part of society and just as society requires a certain standard of behaviour from individuals; it also expects businesses to abide similar standards. Business ethics is therefore the application of ethical values to business behaviour. It applies to all aspects of business conduct from boardroom strategies and how companies treat their suppliers to sales techniques and accounting practices. Ethics goes beyond the legal requirements for a company and is therefore a matter of choice. Business ethics applies to the conduct both individuals and to the organisation. It is about how a company does its business and how its activities affect all of its stakeholders. Ethical behaviour within a particular business is different from an ethical business. An ethical business sets out from the beginning to work ethically and ethics from a part of its strategic aims.
What Is Business Ethics?
Business ethics is an organisation which works to achieve corporate aims. The aims are dictated by the kind of organisation itself. A public service organisation, for instance, must deliver government services such as social services. A private business seeks profit for the benefits of its owners. Business managers in these organisations are paid to make decisions that will help the business to achieve its aims and objectives. These decisions can be related to staff, financial investment, marketing strategy, products or location.
Issues connected to ethics in business arise because some businesses make poor operational or strategic decisions. These decisions can hurt local people, the staff and the customers. Other businesses make mistakes, sometimes, individuals within businesses act incompetently.
Operational
P1 – Explain the ethical issues a business needs to consider in its operational activities.
Definition Of Business Ethics
Ethics are to do with what is right and what is wrong. Ethics plays an increasingly important role in business. A business is part of society and just as society requires a certain standard of behaviour from individuals; it also expects businesses to abide similar standards. Business ethics is therefore the application of ethical values to business behaviour. It applies to all aspects of business conduct from boardroom strategies and how companies treat their suppliers to sales techniques and accounting practices. Ethics goes beyond the legal requirements for a company and is therefore a matter of choice. Business ethics applies to the conduct both individuals and to the organisation. It is about how a company does its business and how its activities affect all of its stakeholders. Ethical behaviour within a particular business is different from an ethical business. An ethical business sets out from the beginning to work ethically and ethics from a part of its strategic aims.
What Is Business Ethics?
Business ethics is an organisation which works to achieve corporate aims. The aims are dictated by the kind of organisation itself. A public service organisation, for instance, must deliver government services such as social services. A private business seeks profit for the benefits of its owners. Business managers in these organisations are paid to make decisions that will help the business to achieve its aims and objectives. These decisions can be related to staff, financial investment, marketing strategy, products or location.
Issues connected to ethics in business arise because some businesses make poor operational or strategic decisions. These decisions can hurt local people, the staff and the customers. Other businesses make mistakes, sometimes, individuals within businesses act incompetently.
Operational