Generation of maximum returns for its owners and shareholders are the ultimate purpose of any business. One is that social problems, including poverty and environmental degradation, are often worse in the developing world than in the developed world. Also, you have to develop ethics on the accounting process, production, intellectual property, knowledge and skills.
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And for that kind of social responsibility he condemned it as a kind of taxation, without proper democratic procedures in place. Requires education and guidance : Businessmen must be given proper education and guidance before introducing business ethics. Gives protection to social groups : Business ethics give protection to different social groups such as consumers, employees, small businessmen, government, shareholders, creditors, etc.
It is also my sense that the multiplicity of consequences makes evaluating ethics complex: if some of the consequences are good, and others are bad, assessing the rightness of the action necessitates a great amount of consideration. Insofar as differentiating a business from a nonprofit is concerned, the distinguishing characteristic of business seems to be the generation of a profit that will be returned to the owners of the business as a monetary payment.
Think about it. If it were always in one’s interest to be good, there would be no need for ethics. The gulf can be enormous and it is worth considering the different social or moral or human values involved in these various occupations. I cannot presently conceive of a business in which people are not involved, and while a business might consist of only one person, that tends to be unusual.… Read More