Business Environment and Law-Business And Its Environment
Codes Of Conduct-Business And Its Environment
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A formal document, that states an organization’s primary values and the ethical rules, expects employees to follow it. The code is helpful in maintaining ethical behaviour among employees.
Codes Of Conduct
A formal document, that states an organization’s primary values and the ethical rules, expects employees to follow it. The code is helpful in maintaining ethical behaviour among employees.
Clarence C. Walton has given models of business conduct. They are as follows
- Austre Model: This business gives exclusive emphasis on ownership interest and profit objective. This type of business will always cost-conscious in every activity. This firm will be conservative in outlook.
- The Household Model: The business gives extension of the benefits to the employees with condescension of paternalism. This type of business is analogous to a family or household consisting of shareholders, management and employees whose benefits will be looked after.
- The Vendor Model: In this type of business, consumer interest, tastes and right would be given first preference and consumer satisfaction would be dominating the organization.
- The Investment Model: This model focuses on the organization as an entity and thus on long term profits and survival. It gives recognition to social investments along with economic investments.
- The Civic Model: This accepts social responsibility and makes a positive commitment to social needs. Its slogan is corporate responsibility.
- The Artistic Model: This model encourages the organization to become a creative instrument serving the cause of an advanced civilization with a better quality of life. It undertakes creative ideas in its actions not originally contemplated by others.
Business Ethics In India
The people are more concerned about the open unethical practices of the business to exploit the consumer, the employees and the government. In india the open corrupt practices are considered as unethical practices. These unethical practices are looming large in india.
Mr. K.Santhanam who was the chairman of the prevention of corruption committee estimated that 25% of our plan expenditure had been lost because of corrupt practices and inefficiency. Now the percentage would be still larger.
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