Define business ethics?
Ans 1) The study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. Business ethics are often guided by law, while other times provide a basic framework that businesses may choose to follow in order to gain public acceptance.
So, ethics separate, good and bad, right and wrong, fair and unfair, moral and immoral and proper and improper human action. In short, ethics means a code of conduct
For e.g, the businessmen must give a regular supply of good quality goods and services at reasonable ...view middle of the document...
For example, a bank recommending a particular mortgage broker, and receiving an under the table fee for such is a kickback. A travel agent who gets rewarded for booking at a particular hotel is also a form of kickback.
3. What is unfair discrimination?
Ans 3) A person should not tolerate behaviour from another individual or a group of people that:
* undermines the persons fundamental dignity, or
* denies the person of his human rights, or
* seeks to demean, humiliate the person or create a hostile environment making it difficult for the person to work.
Such behavior is termed unfair discrimination
There are two forms of discrimination related to “unfair discrimination” namely-
* Direct discrimination; and
* Indirect discrimination
Direct discrimination is easily identifiable and involves overt differential treatment between employees and job applicants on the basis of arbitrary grounds. For example an employer follows a policy of remunerating a female employee on a lower scale simply because she is a women, whereas a male employee is remunerated at a much higher scale for doing the same work.
Indirect discrimination, on the other hand, is not as easily recognisable as it is a more subtle form of discrimination. It involves the application of policies and practices that are apparently neutral and do not explicitly distinguish between employees or job applicants but that, in reality, have a disproportionate and negative effect on certain individuals or groups. The laws also emphasise that:
* Sexual harassment will be prohibited;
* Medical testing will not be allowed unless it is an inherent requirement of the job;
* Psychological testing or other assessment cannot be done unless such tests are validated and will not be biased;
* In addition, HIV testing can only be carried out if authorised by the Labour Court;
* All these protectinos also apply to applicants for employment.
Essentially one has to give consideration to the impact of actions, policies and procedures when evaluating discriminatory practices rather than the intention thereof.
4. What is acid rain?
Ans 4) “Acid rain” is the problem caused by air pollution or Atomic testing in the atmosphere, etc. and due to which the resultant is Damaged buildings, Possibly affects drinking water, Possibly affects water- dwelling creatures.
"Acid rain" is a broad term referring to a mixture of wet and dry deposition (deposited material) from the atmosphere containing higher than normal amounts of nitric and sulfuric acids. The precursors, or chemical forerunners, of acid rain formation result from both natural sources, such as volcanoes and decaying vegetation, and man-made sources, primarily emissions of sulfur dioxide and nitrogen dioxide resulting from fossil fuel combustion
5. Define the term social responsibility in business?
Ans 5) The Term...