Ethical and Unethical Issues in disciplines of management

ETHICAL AND UNETHICAL ISSUES IN DISCIPLINES OF MANAGEMENT

ETHICS-THE SPIRIT OF TIME

Moral principle that governs person's behaviour also it's the moral evolution of man in society

BUSINESS ETHICS

Today's world is populated with innumerable professions such as medicines,law,engineering,technology and business.

Business has now become so diverse and complex that society is very concerned about the business serving all around in the best possible manner. Therefore,business ethics comes into play.

Ethical Issues

A situation that requires an organization to choose between the alternatives which may be wrong(ethical) or right (unethical).


Ethical Practices in HR:-

• Pay Equity:- fair and competitive compensation and benefits is one of the key role of HR practice which comes into ethical values.
• Fair treatment:-holding all employee accountable and treating everybody equally.
• Mutual Respect -mediating differences in HR practice that encourages mutual respect and communication.
• Diversity:- equal employment opportunities to the diverse population regardless of colour,race,religion,caste.

Ethical Practices in Management:-

• Honesty:- be forthright in dealings and offer value and integrity.
• Responsibility:-  accepts the consequences of the market and serve all the needs of the customer.
• Fairness:-avoid the manipulation in all forms while protecting the information of consumers.
• Respect:- acknowledge dignity of people and also the contribution of others.

Ethical Practices in finance:-

• Interest:-  managers should act in the interest of clients and employers, not their own.
• Security and information:-better protection of people's data and more transparency after the breach occured.
• Reputation and ethics:- gaurd your and your employer's reputation. However, crossing lines may result in spoiling of your company's good name.

       Unethical practices in Marketing finance and HR

Unethical practices in Marketing :-

• Misleading advertisement
• Emotional exploitation
• False promises
• Misinterpretation of products

Unethical practices in HR:-

• Abusive behaviour
• Employee theft
• Breaching company interest policy

Unethical practices in finance:-

• Taking finance from those who are giving personal favours.
• Delay in paying wages and incentives to employees.
• Fake promises