Business Ethics in Bangladesh Essay

companionable responsibility requires individual(a)s engaging in production line endeavors to be defend in an estimable manner. h wizard and only(a)st motive ar article of beliefs of behavior that distinguish amid right and wrong. respectable bestow conforms to what a radical or conjunction as a whole considers right behavior. mickle operative in occupancy ofttimes face estimable questions. pipeline honorable philosophy is the evaluation of commerce activities and behavior as right or wrong. honourable standards in craft ar based on comm just now accepted beliefs of behavior realised by the expectations of lodge, the firm, the industry, and an individuals in- soul set. Criti sh erupty, Business righteouss can be defined as the critical, structured run of how race & institutions should be ingest in the knowledge base of commerce. In particular, it involves examining appropriate constraints on the occuring of self-sake, or (for firms) profits, when the actions of individuals or firms affects separates. (9) With un honourable handicraft touch on behaves much receiving customaryity, the public approximatelytimes weigh that people in stemma argon less estimable than former(a)s in society. just ethical difficultys chall(a)enge all segments of our society, including authorities, churches, and higher(prenominal) education. Most phone line sector leaders give their firms can non succeed without the trust of nodes and the gracility of society. A violation of virtuouss prepares trust and good go forth difficult to primary(prenominal)tain. In thousands of companies, executives and employees act fit in to the highest ethical standards. Unfortunately managers in al to the highest degree firms behave wrongly, and these instances atomic number 18 often exceedingly publicized. Personnel executive say the major(ip) motive managers behave unethically is to restrain power and bullion. Business ethical motive i s a wider term that includes many other electric ray morals that ar relevant to the single reach. For showcase there is marketing ethics for marketing, ethics in HR for gentleman Re mention Department and the resembling. Business ethics itself is a part of applied ethics the latter operates c ar of ethical questions in the technical, friendly, legal and line of credit ethics.Origin of Business EthicsWhen we trace the origin of line of work ethics we start with a plosive where profit maximization was seen as the only purpose of existence for a business. thither was no consideration whatso constantly for non-economic value, beit the people who drilled with makeups or the society that allowed the business to flourish. It was only in late 1980s and 1990s that both intelligentsia and the academics as well as the corporeal began to project interest in the same. Nowadays whatever all agreements lay due accent on their responsibilities towards the society and the natur e and they call it by polar names like corporate loving responsibility, corporate brass or social responsibility charter. capital and Important Sources of Business ethicsEthics in general refers to a constitution of good and bad, moral and immoral, fair and unfair. It is a encipher of conduct that is supposed to range behaviors indoors an organization and the social frame invent. scarcely the question that remains is, where and when did business ethics come into being? Primarily ethics in business is affected by the companioning sources family, religion, horticulture, legal system, honors of conduct, and individualal experience. It is for this reason we do not have resembling or comp permitely similar standards across the globe. These factors manage influences to diversifying horizontal surfaces on globe which ultimately get reflected in the ethics of the organization. For example, ethics followed by Grameen Phone Ltd. ar different from those followed by Squ are crowd or Unilever for that matter. Again ethical procedures vary across geographic boundaries.FamilyA souls values is the source of their ethics, and it is their philosophy, spectral or religious beliefs that usually financial aid mold and shape those values, that closely of all it is how a person is raise by his family that sets the foundation for his ethics in subsequent life. Its the staple fibre source of business ethics.ReligionIt is one of the oldest foundations of ethical standards. Religion wields varying influences across discordant sects of people. It is believed that ethics is a manifestation of the worshipful and so it draws a line amongst the good and the bad in the society. Depending upon the degree of religious influence we have different sects of people we have sects, those who arereferred to as orthodox or fundamentalists and those who are called as moderates. Needless to mention, religion exerts itself to a gr tucker degree among the orthodox and to l esser consequence in case of moderates. Fundamentally merely all the religions operate on the principle of reciprocity towards ones fellow beings cultivationCulture is a pattern of behaviors and values that are transferred from one generation to another, those that are considered as i channel or within the satisfying messinessates. No wonder therefore that it is the culture that predominantly determines what is wrong and what is right. It is the culture that defines plastered behavior as welcome and others as un unexceptionable. Human civilization is fact has passed by with(predicate) with(predicate) various cultures, wherein the moral commandment was redrafted depending upon the date that was. What was immortal or un congenial in certain culture became acceptable later on and vice versa. During the early vast time of homophile out upraiseth where ones who were the strongest were the ones who survived Violence, hostility and violence were so the acceptable. Approxim ately 10,000 year past when kind-hearted civilization entered the settlement phase, problematic work, patience and peace were seen as virtues and the early ones were considered otherwise. These values are still in employ by the managers of today. Still further, when human civilization witnessed the industrial revolution, the ethics of agricultural economy was replaced by the virtue pertaining to technology, prop rights etc. Ever since a tussle has ensued between the values of the agrarian and the industrial economyLaws or Legal organization of a CountryLaws are procedures and write in code of conduct that are laid slash by the legal system of the state. They are meant to guide human behavior within the social fabric. The major problem with the make of law is that all the ethical expectations cannot be cover by the law and redundantly with ever changing outermost environment the law and specially with ever changing outer environment the law keeps on changing but often fails to keep mistreat. In business, complying with the chemical formula of law is taken as ethical behavior, but organizations often generate laws by evading taxes, compromising on grapheme, function norms etc.Business Codes of ConductA business code of ethics is a series of established principles an organization accustoms when operating(a) in business or society. Organizations often develop these codes to ensure that all individuals working in the caller-up operate fit to the same standards. Most individuals have an cozy code of ethics or moral principles they follow in life. A position one individual finds ethically venomous may not see so to another individual. Using a code of ethics in business attempts to take a basic understanding of acceptable ethical behavior to be employ when handling situations involving the company, government agencies and the general public. former(prenominal) ExperienceIf an individual is punished or is not punished for behaving unethica lly, the behavior will in all probability be repeated. This type of experience boosts other to do unethical things in future. similarly the panic of punishment and the lack of reward for unethical activities encourage that particular person and all others to behave ethically.Factors Influencing Ethical deportmentTo encourage ethical behavior, executives, managers, and owners of firms must understand what influences behavior in the first place. The several(prenominal) factors that affect individuals behavior in business the business environment, organizational factors, and an individuals personal moral philosophy.The Business milieuAlmost day by day, business managers face ethical dilemmas resulting from the budgeure of the business environment. They are challenged to admit sales quotas, cut costs, increase efficiency, or overtake competitors. Managers and employees may manytimes look at the only fashion to survive in the competitive world of business is by deception or c heating. In some instances, an organization may use somebody elses successful work without the leave of the owner or originator. Conflict of interest is another commonalty ethical problem stemming from the business environment. oftentimes an individual has achance to further selfish interests preferably than the interests of the organization or society. To gain advance with people who make purchasing stopping points for their companies, a seller may offer special favors or gifts, ranging from a metal to tog to trips.Some offer cash-a kickback-for putting by means of a contract or placing orders with a company. Others offer bribes. Such illegal conduct will damage the organization in the long run. In order to limit unethical behavior, business firms must start up by expecting their employees to obey all laws and regulations. The global business environment presents further ethical dilemmas. Business people and government officials in different countries and cultures often o perate correspond to different ethical standards.The OrganizationThe organization itself to a fault influences ethical behavior. someones often chequer ethical or unethical behaviors by interacting with others in the organization. An employee who sees a superior or co-worker behaving unethically may follow suit. An organization can in addition use rewards to influence the behavior of its members. If an individual is rewarded or is not punished for behaving unethically, the behavior will probably be repeated. Likewise the threat of punishment and the lack of reward for unethical activities encourage ethical behavior. The severity of punishment also sends a message to other individuals who might be considering similar activities.The Individual ValuesA persons own moral philosophy also influences his or her ethical behavior. A moral philosophy is the set of principles that dictate acceptable behavior. These principles are learned from family, friends, co-workers, and other social g roups and through formal education. In underdeveloped a moral philosophy, individuals can follow two neares The Humanistic Philosophy focuses on individual rights and values. Individuals and organizations adopting this philosophy would honor their moral duties to customers and workers. Individuals and organizations following the Utilitarian Philosophy set some the greatest good for the largest number of people.grandness of Business EthicsMost of us would agree that it is ethics in make that makes sense just having it carefully drafted and redrafted in books may not serve the purpose. Of mark all of us want to be fair, clean and beneficial to the society. For that to happen, organizations need to indorse by ethics or rule of law, engage themselves in fair practices and contestation all of which will benefit the consumer, the society and organization. Primarily it is the individual, the consumer, the employee or the human social unit of the society who benefits from ethics. I n entryory ethics is important because of the following1. delightful Basic Human Needs existence fair, honest and ethical is one of the basic human needs.Every employee desires to be much(prenominal) himself and to work for an organization that is fair and ethical in its practices. 2. Creating Credibility An organization that is believed to be driven by moral values is respected in the society correct by those who may have no information about the working and businesses of that organization. British American Tobacco, for example is perceived as an organization for good corporate system and social responsibility initiatives. This perception is held outlying(prenominal) and wide nonetheless by those who do not even know what business the organization is into.3. Uniting People and lead An organization driven by values is revered by its employees also. They are the common thread that brings the employees and the decision makers on a common platform. This goes a long track in aligning behaviors within the organization towards get hold ofment of one common closing or mission.4. Improving Decision making A mans unavoidableness is the sum totals of all the decisions that he/she takes in course of his life. The same holds true for organizations. Decisions are driven by values. For example, an organization that does not value competition will be fierce in its operations aiming to wipe out its competitors and establish a monopoly in the market.5. Long Term gains Organizations guided by ethics and values are useful in the long run, though in the short run they may seem to lose money. For Example, Tata group, one of the largest business conglomerates in India wasseen on the verge of decline at the beginning of 1990s, which soon turned out to be otherwise. The same companys Tata NANO car was predicted as a failure, and failed to do well but the same is pickaxe up fast now.6. Securing the Society frequently ethics succeeds law in safeguarding the society. T he law machinery is often found acting as a mute spectator, unable to extradite the society and the environment. Technology, for example is growing at such a fast pace that the by the time law comes up with a regulation we have a newer technology with new threats replacing the senior(a) one. Lawyers and public interest litigations may not help a great deal but ethics can.Business Ethics- practice session in BangladeshIn Bangladesh, though practice of Business ethics is still not so commendable in public sector and small companies, but business ethics has been an increasing concern among big companies, at least since the 1990s. Major corporations increasingly fear the damage to their image associated with press revelations of unethical practices. The following information about the functions relating ethics and social responsibility of 2 reputed companies of our region will give a brief idea about the practice of Business Ethics in Bangladesh.ACI expressAdvanced Chemical Indust ries (ACI) extra is one of the leading conglomerates in Bangladesh, with a international heritage. They have a mission to achieve business excellence through quality by understanding, accepting, meeting and exceeding customer expectations. They follow International Standards on spirit Management System to ensure coherent quality of products and services to achieve customer satisfaction. They are focusing on meliorate the food habit of consumers through providing to a greater extent(prenominal) ready to cook products and ready to eat as well. Their visions are to establish symphonic relationship with the corporation and promote great environmental responsibility within its cranial orbit of influence. Their Values are Quality, Customer Focus, sightlyness, Transparency, continuous Improvement, and Innovation.Ethical speak toesSocietal phylogeny through Educational Programs ACIs guiding principle in all its operations is to be a responsible corporate citizen. consequently Social Responsibility is a bring in priority for each individual at ACI. Their Initiatives and significant contribution to societal development is Continued Medical Education (CME) for medical professionals and Childrens Education Programs. ACI has also undertaken an incline Education program in Faridpur, one of the remotest districts of Bangladesh. This stick outs concur to teach English style to school going children. Doctors in Bangladesh who are not living in the metropolitan cities have very limited access to the Internet or any other sources of information. In order to keep them updated on the developments in the medical practices regularly, the CME program has been prove highly effective. ACI believes that by promoting education of children, they are contributing to societal development by shaping the minds of their future leaders.Environment amiable Practices ACI has undertaken extensive programs to educate crop farmers all over rural Bangladesh in favourable Agricu ltural Practices. They have a squad of agricultural experts working at the theatre level all across the plain, dimension a range of technical instructs and field demonstrations. ACI also has similar education programs for fleshly and poultry farmers. These include, Technical trainings on versatile aspects of farming, and on application of new technologies, Farmers group meeting for sharing of learning and experience, fall by the wayside visits to farms by veterinarians, to identify problems and give advices to individual farmers. Most importantly, making the farmers aware of ways to protect the environment from hazardous uses of chemicals on their farms, allowing them the opportunity for informed decision-making. ACI hopes to continue to bit a leading role in promoting greater environmental responsibility among farmers in Bangladesh.Unethical ApproachesACI Company produces some products which do not work properly, like ACI Aerosol. It is in the first place produced for ki lling mosquitoes, but thats not true. Most of the mosquitoes go away for sometimes but not killed. Sometimes someproducts like ACI Atta, ACI Maida, etc contains 1975 grams instead of 2000 grams but they fix their prices for 2kg of the products. These are unethical for their marketing practices.Unilever Bangladesh LimitedOver the last four decades, Unilever Bangladesh has been constantly bringing new and world clear products for the Bangladeshi people to remove the daily drudgery of life. Over 90% of the rudes households use one or to a greater extent of Unilever products. They aim to give everybody a little something to celebrate about themselves every day. They believe that to succeed in business, it is inseparable to maintain the highest standards of corporate behavior towards everyone they work with, the communities they touch, and the environment on which they have an impact.Ethical ApproachesEffective Code of business principles Their code of business principles describes th e operational standards that everyone at Unilever follows, wherever they are in the world. It also supports their approach to governance and corporate responsibility. Code of business principles are- Standard of conduct, Obey the law, employees, consumers, shareholders, business partners, community involvement, public activities, the environment, innovation, competition, business integrity, conflict of interest, compliance, reporting, monitor. Women Development and Women Empowerment Unilever strongly believes in the immensity of empowering women in Bangladesh, because the progress of any society will be constrained if a significant part of its population is miss and excluded from the benefits of development.They believe, with economic and educational empowerment, women can twist more vocal about their rights and blend stronger in withstanding repression in any form. So they have established Fair & pin-up metrical foot. The mission of this foundation is to encourage economic e mpowerment of Bangladeshi women through information and resources in the areas of Education, Career and Enterprise. It is this acknowledgment that has brought about the Fair & Lovely Foundation Scholarship Program. Under this scholarship scheme, women who have passed their HSC each receives a Taka 25,000 scholarship to support her tertiary level education.Unethical ApproachesUnilever produces Fair & lovely fairness cream, lotion, etc and they claim that bark color will be face cloth after using this product. But that it is not true. There are no scientific values about whiteness. This is totally unethical performance in marketing activities of this company. relative Customer Evaluation on Ethical Performances of 3 Reputed Companies of Bangladesh practice Customer answer on Maintenance of Ethical purpose by the Companies (1)Figure Customer receipt on Deceptive Practices Used by the Companies (1)Figure Customer Response on Significant Contribution toward Ethical selling (1)F igure Customer Response on Satisfaction through Using Products of the Companies (1)Figure Customer Response on changing of Defective Products by the Companies (1) bribery & Nepotism- A Curse against Ethical Practicedepravation is a very strong example of unethical behavior and it is still prevalent in different business sectors of our country in the form of Bribery and Nepotism. Nepotism is the way in which someone approaches and compels a person of power and authority to take unavoidable steps to get his work through with(p) by capitalizing kinship, friendship or governmental lobbying. Bribery means offering gifts, money etc. to get a work done in unethical way. Often public officers are infamously alleged for taking bribes to award public contracts using their power. Bribery and Nepotism also exist in the corporate world, which is very harmful for ethical practices and creates hindrances in building proper and ethical business environment.Managing or Encouraging Ethical b ehaviorManaging the financial operations of a company can be a multifactorial effort. Companies need to balance their desire to grow with the realities of maintaining their financial relationships, satisfying their investors and making a profit. Government Regulations The government can do so by legislating more stringent regulations. But, rules require enforcement and when in many cases there is evidence of lack of enforcement even the ethical business person will tend to slip something by without acquiring caught. Increased regulation may help, but it surely cannot solve the entire business ethics problems. mint Associations Setting Guidelines Trade associations can and often do supply ethical guidelines for their members. These organizations within particular industries are in an excellent position to exert pressures on members that stoop to questionable business practices.Companies Providing Code of Ethics Employees can more easily determine and adopt acceptable behavior when companies provide them with a code of ethics. Such codes are perhaps the most effective way to encourage ethical behavior. A code of ethics is a written guide to acceptable and ethical behavior that outlines uniform policies, standards and punishments for violations. Because employees know what is judge of them and what will happen if they violate the rules, a code of ethics goes a long way towards encouraging ethical behavior. However, codes cannot mayhap cover every situation. Companies must also create an environment in which employees descry the importance of complying with the written code. Managers must provide direction by fostering communication, actively modeling and encouraging ethical decision making, apart from investing in training employees to make ethical decisions. spill the beans Blowing technique Sometimes, even employees who want to act ethically may find it difficult to do so. Unethical practices can become planted in an organization. Employees with high per sonal ethics may then take a controversial step called whistle blowing. babble out blowing is informing the press or government officials about unethical practices in an organization. Whistle blowing could have averted disaster and preventedneedless deaths in the Challenger space shuttle disaster, for example. How could employees have known about life-threatening problems and let them pass? Whistle blowing on the other hand, can have serious repercussions for employees those who make waves sometimes lose their jobs.ConclusionThe main objective of business is to serve people with their every need for the well-being of human being and to ensure that, there is no alternative of following business ethics. Since the practice of business ethics in our country is still not ubiquitous, we are not getting the proper environment for the business, and thus often we are facing some crisis situation and it is hampering our total economic development. Our form _or_ system of government makers a nd the top executives of the organizations should give more concern in making ethical policies and take proper steps to encourage business executives and service holders to follow them.References1) Ethics In Marketing On Bangladesh Perspective resume on Few Companies of Bangladesh- collected from beingness Journal of Management Volume 2. second 2. September 2010, the direct link- http//wbiaus.org/10.%20Tajmeela-FINAL.pdf2) Business for the twenty-first Century- Skinner & Ivancevich3) An Integrated Approach to Business Studies (4th edition)- Bruce R Jewell4) Business Studies (4th edition)- Dave Hall-Rob Jones-Carlo Raffo- Alain Anderton5) www.managementstudyguide.com6) www.smallbusiness.chron.com7) www.cwafford.conveycontent.com8) www.sagepub.com/upm-data/10923_Chapter1.pdf9) www.businessethics.ca/definitions/business-ethics.html