BUSINESS ETHICS AND ITS ROLE IN BUSINESS SCENARIO
The success of modern business is apparent, but recently there is much concern in the business-and-society literature and in the general press on whether business fulfills its role & responsibility. Business ethics have been developed in recent decades as responses to a growing sense of corporate wrong doing. Actually Fast growing world always create a sense of competition among the viewers. The desire of achieving higher and higher has somewhat made us “a machine” that machine which has nothing to do with the elements like right and wrong. It seems ethics, morals principles and values are disappearing at a fast pace due to which business is also becoming unethical these days. In my opinion ethics is something which my inner feelings tell me is” right or wrong” it has to do with my beliefs which is as per the law or those sort of standards of behaviors that our society accepts. Business ethics is an art and science of maintaining pleasant relationship with society, Institutions and as well as recognizing the moral responsibility for the rightness or wrongness of business conduct. Ethical values are in inborn within individuals. Ethical values serve the ends of human well-being; Ethical values and Business ethics include Honesty; Integrity; Responsibility; Quality; Trust; Respect; Teamwork; Leadership; Corporate Citizenship; Shareholder Value; a customer-oriented focus, employee satisfaction, customer satisfaction and finally leading to sustainable business in this world of globalization. Business Ethics and Ethical Values not only help in satisfying the customers but also motivate employees in maintaining sustainable business in this globalized world.