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2_1 - Management Science I Prof M.Thenmozhi ETHICS Dr M...

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Management Science I Prof. M.Thenmozhi Indian Institute of Technology Madras ETHICS Dr. M. Thenmozhi Professor Department of Management Studies Indian Institute of Technology Madras Chennai 600 036 E-mail: [email protected]
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Management Science I Prof. M.Thenmozhi Indian Institute of Technology Madras INTRODUCTION: Ethics in business are nothing but the do’s and don’ts by the business users in the business. In other words it could be referred as set of principles a business man ought to follow. ”There should be business ethics” means that the business should be conducted according to certain self recognized moral standards. Few unethical elements in the present day business are cheating, stealing, lying, bribing, corrupting etc. A business man should be aware of the ethics in the business and should follow them in order to maintain ecological balance in the society. OBJECTIVES: The main objective of this study is to identify the vital few concerns of business which influence the ethical status of a business and to identify the necessary measures. DESCRIPTION DEFINITION: The study and examination of moral and social responsibility in relation to business practice and decision making in business is known as “Business Ethics”. The term “business” is commonly referred to the commercial activities achieved at making profit. But gradually there is a substantial change in the way in which people viewed the business.
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