Tuesday 5 March 2013

ASSIGNMENT

Definition of "Business Ethics"


"Business Ethics" can be defined as the critical, structured examination of how people & institutions should behave in the world of commerce. In particular, it involves examining appropriate constraints on the pursuit of self-interest, or (for firms) profits, when the actions on individuals or firms affects others. 


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Why Business Ethics is considered "oxymoron"

Some business, they bringing together of two apparently concept like cheerful pessimist or deafening silence. it is like we do it wrongly but keep it in silents or do something in term later can gain profits. in the business can and do act ethically. They do it because good, ethical behavior is the best long-term strategy for a company. That's not to say that ethical behavior always pays off financially or that unethical behavior is always punished. Unethical can make the business at least in the short term. Therefor, for the most part and over the long run, acting ethically can give a company a significant competitive advantage over companies that do not act ethically.


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Definition of " Corporate Governance"


Corporate Governance" is the framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company's relationship with all stakeholders such as with financiers, customers, management, employees, government, and the community.

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