This essay describes the conncetions between trade and business, that both had been the veins of human society ever since ancient times. The researcher provides an analysis of the Chinese business ethic rules and the discussion on how Confucianism connects business with principles. …
Li gives importance to etiquette and defined process in any business. Any simpleton will not buy a diamond from a beggar. Each business has its own set of etiquette to be followed without which it cannot prosper. A merchant dealing with diamonds should look and act refined manner matching his customer’s status to sell his products to them. Each of this quality is important to do business ethically and properly. Practical Difficulties in Implementing Ethics Several business gurus and universities teach the young executives only about gaining more profits and winning over others. They do not teach them about the ways to do it ethically. As a result the business industry has grown into a massive barbaric ground where each one tries to swallow the other. Taking ethical decisions in everyday life is neither easy nor practical. Even if one person inclines to act in an ethical way, the company principles and the other fellow workers cease to co-operate with them. It is near impossible for any business executive or a business as a whole to stay very ethical in their business process. How Confucianism Connects Business with Principles These arguments might sound quite convincing for any normal man. But, there are still a thousand ways any person can stay ethical, if they choose to follow the Confucian principles in day to day life. O.C. Ferrell lists a few practices which result out of declining ethical standards. They are 1. Misuse of company resources 2. Abusing the fellow employees 3. Stealing from the company by altering accounts 4. Producing defective products 5. Bribing the government officials to market them Half of these non-ethical practices are directly related to individuals and others as a...
The researcher f this essay focuses on the analysis of the Confucian philosophy on business management, that is giving equal importance to profit, process and principles and is refered as the right way to manage modern day trade and commerce. The Chinese philosopher Confucius (551-479 B.C.) laid down clear rules on how to do business and live life generally. He believed business could be done in harmony with others without exploiting anyone, with collective interest in mind. The Confucian theory of business concentrates on four main principles, such as Ren – the quality of compassion towards fellow human beings, Xin – honesty and trustworthiness, Yi – giving importance to collective goodness more than personal profits and Li – following a etiquette and uniform process. Today, the western world views the business Confucianism only through the way the Chinese immigrants work. They interpret their sacrifices and hard work as hard and violent most of the time. The researcher mentiones that though most of the businesses in China struggle with the western influence, there are some like the example cited in this essay which have its strong ethical roots. It is such businesses that are transforming China into the next economical superpower, capable of lending millions of dollars to the US government. In conclusion, the researcher suggests that the Confucianism business ethics should be followed not only for the sake of ethics and profits, but to gain sheer peace of mind and happiness. ...
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Moral standards that are used by individuals to judge behavior is referred to as ethics, while behavior that businesses up holds in its daily its activities across the globe is what is referred to us business ethics. A specific business can have diverse ethics.
In fact, good business ethics is the foundation of all good businesses. In the present day world where consumerism has become widespread, the importance of business ethics is even higher. The benefits of applying ethical principles in business are plenty.
1.1- What Is the Following report about? The following report is about the claims made within the attached news report “ Exposed: The reality behind London’s ‘ethical’ Olympics.” The attached report is claiming an investigation by The Independent reveals that the Adidas sportswear to be worn by British athletes and Games volunteers is being made in abusive sweatshops in Indonesia.
Sentiments by economist such as Milton Friedman have attempted to assert that profitability is the core agenda for businesses (Friedman, 1970). However, contemporary businesses have the potential to engage in social responsibility and spur profit growth. Introduction The mix of ethics and business in the same breadth is at times seen as an oxymoron.
The traditional Chinese culture is founded on Confucianism (Hoobler, D. and Hoobler, T. 10). Hoobler, D. and Hoobler, T. define Confucianism as “a system of thought based on the teachings of Confucius, who lived from 551 to 479 B.C.E.” (10). For the last two millenniums, the Chinese way of life has been guided by Confucian ideas and system of rites.
Importance of business ethics and their impact on the organization
Ethics means a collection of moral principles, a perception of right and wrong, goodness and badness of dealings as well as the motives and repercussions of these actions. When applied to business context, ethics refers to the study right and wrong, good and evil, and just and unjust dealings of businessmen.
The review that has been performed helps to point firmly to the understanding that those firms that actively engage in this process are at a noted advantage as compared to those that merely dismiss it as a waste of time and resources.
The company is currently challenged in these areas. It's operation is presently composed of six stages namely, order taking, assembly of ingredient, tossing and molding the pizza shell, assembly of pizza, waiting, and cooking (Appendix 1). The total capacity of Mancala's Pizzas is 30 pizzas per hour which is directly dependent on the maximum output that can be generated by the tosser (Appendix 2).
It is sad that the international business has manifested "a dog eats dog" character and has in fact taken advantage of the weak positions of the consumers. Everyday, the consumers are bombarded with endless commercial advertisements not only to allure them but to enslave them to the products.
In other words, actions taken today are bound to affect our life in the long run provided no matter how futile they seem. In some cases, a casual and not so important choice made by us might affect our life profoundly. Thus our code of conduct is reflected by our actions and the choices we make.
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