Marketing and Management Solution

Principles of business ethics The Principles of business ethics developed by well known authorities like Cantt, J. S.Mill, Herbert Spencer, Plato, Thomas Garret, Woodrad, Wilson etc are as follows 1. Sacredness of means and ends : The first and most important principles of business ethics emphasize that the means and techniques adopted to serve the business ends must be sacred and pure.It means that a good end cannot be attained with wrong means, even if it is beneficial to the society. 2. Not to do any evil: It is unethical to do a major evil to another or to oneself , whether this evil is a means or an end. 3. Equivalent price: According to  W. Wilson , the people are entitled to get goods equivalent to the value of money that he will pay. 4. Human dignity: As per this principle , man should not be treated as a factor of production and human dignity should be maintained. 5. Co-operation with others This principles states that business should help ...

Characteristics of business ethics:   Business ethics are ethics that refer to the moral rules and regulations governing the business world. The following are the important features of business ethics:- 1. It is considered both as a science and an art.   2. Business ethics are the principles, which govern and guide business people to perform business functions and in that sense business ethics is a discipline 3. It studies the activities, decisions and behavior which are related to human beings 4. It is based on theological principles such as sincerity, human welfare, service, good behavior etc.  5. It is based on reality and social customs prevailing in business environment. 6. It continuously test the rules and moral standards and is dynamic in nature 7. It has universal application because business exists all over the world 8. Many of the ethical principles develop the personal dignity 9. Business ethics keeps harmony between di...