Nature of Business Ethics

Nature of Business Ethics:
Ethics are learned early in life from parents and family, peers, teachers and significant others and are either reinforced or altered by subsequent experience. Because ethics deal with those activities of business enterprises some of which should be done and some should not be done for the society. A businessman must practice some ethics. Which are discussed below?

a) Ensure legality of business activities:
Business activities must be legal and a businessman should not do any kind if illegal activity.

b) Customer orientation:
All of his operations must be customer oriented. He must bear in his mind that the “customer is the kinds” so he should produce and distribute that types of goods and services which can satisfy the customers.

c) Supplying good quality product:
A businessman must have to ensure the supply of good quality products and services. He has to maintain minimum standard of his product and service.

d) Price:
Businessman has to claim a reasonable price for his products or services that is under buying capacity of the customers.

e) Following rules and regulations:
A businessman must have to follow all business related rules and regulations that is formulated by the government.