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Ethical Business behaviour, kjdksjd - Coggle Diagram
Ethical Business behaviour
Fairness and honesty
Employees expect to be dealt with honestly and fairly
Businesses must obey all laws and regulations
Society expects businesspeople to tell the truth and avoid using misleading or deceptive information
Respect for people
If owners treat staff with respect, then employees will act ethically
Confidential information must be kept secret to ensure an ethical business environment
Financial management
Business have ethical and legal responsibilities in relation to financial management
It is generally accepted that financial management decisions must reflect the objectives of a business and the interests of shareholders.
An area in which ethical considerations are important is the valuing of assets.
Truthful communication :
Advertising can be misleading
Knowingly misleading = unethical
Conflict of interest
Occurs when a person takes advantage of a situation or piece of information for his or her gain rather than for the employer's interest
For example Such conflicts can often occur when gifts or payments are offered. There is a fine line between what is regarded as a gift and what may become a bribe.
Corruption undermines the integrity of the business and, if unchecked, infiltrates the workplace culture.
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