Business ethics is one of the most debated topics in recent time. Ethics is all about doing the right things while keeping intact the moral values. When it comes to business ethics few companies follow the ethics keeping social values and few don’t. Business is not only about making profit but it also about keeping and maintaining social responsibility. Some institution or organization only thinks about their profit maximization or wealth maximization. However when it comes to make profit few business doesn’t bother about the ethics. As a result the lack of business ethics in the market is the reason the world economy is presently in crisis. If an organization practice ethical behavior that creates goodwill and reputation which, expand that organization’s opportunities’ for profit. It’s a long term strategy.

Here we have discussed about the ethical factors that should be practiced in business:

• Investors ensuring safety of their money and timely payment of interest. • Employees provision of fair opportunities in promotions and training, good working conditions, and timely payment of salaries. • Customer complete information of the service and product should be made available. Personal information of the customers should not be used for personal gain. • Competition unscrupulous tactics and methods should be avoided while handling competitors. • Government rules and regulations regarding taxes, duties, restrictive and monopolistic trade practices, and unlawful activities like corruption and bribing should be adhered to. • Environment polluting industries should ensure compliance with the government norms regarding air, water and noise pollution.

These things help to build an honest reputation and ensure smooth running of the organization.

Unethical Business Practices:

• Resorting to dishonesty, trickery or deception.