Business Ethics Unit 4 UTU Mba 2 year notes

Uttarakhand technical university MBA subject BECG unit 4

1. Ethical Practices in Business Management Unit-4

2. Ehical Application in Marketing Ethical marketing is a technique that highlights a company's values—honesty, transparency, responsibility, or adherence to fair trade principles—as a promotional strategy. These companies communicate their business ethics in marketing materials to reach target audiences with similar principles . Ethical marketing is a technique that highlights a company's values—honesty, transparency, responsibility, or adherence to fair trade principles—as a promotional strategy. These companies communicate their business ethics in marketing materials to reach target audiences with similar principles . Ethical marketing is a philosophy and a strategy that seeks to promote honesty, trustworthiness, fairness, values, and responsibility in all marketing projects and actions.

3. Application in Ethics in Advertising Ethics in advertising play a crucial role as they ensure transparency, trust, and credibility in the industry. Adhering to ethical principles helps build positive brand image, fosters long-term customer relationships, and avoids potential legal issues . In advertising, being ethical means upholding values such as fairness, justice, and truth while sharing customer experiences and product messages. Various organizations developed ethics in advertising for the sole purpose of protecting consumers from unethical advertising practices.

4. Application of Ethics in finance -taxevasion Ethics in finance demands adherence to the highest standards. The consequences of unethical behavior are clear, from loss of reputation and trust to monetary penalty and criminal prosecution. Effective leaders attend to an inner moral compass which helps minimize the temptation toward unethical behavior . Tax evasion is an illegal act where you as an individual or company avoid paying the tax liability.

5. Lack of Transprency  lack of transparency include: communication barriers, miscommunication, false information - for example: employees don't know how to perform the task / staff doesn't provide precise and clear information . Non-transparent companies may engage in unethical behavior or make poor decisions without fear of repercussions. It can lead to a lack of accountability and a decline in overall performance.

6. Preparing false financial statment False Financial Statements describe when a person falsifies income reports, balance sheets, and/or creates fake cash-flow statements to deceive the people who receive them . Investors, partners, and customers may lose confidence in the organization's ability to manage its finances. Legal Troubles: Inaccurate financial data can lead to legal issues, including fines and penalties for regulatory non-compliance. Resource Misallocation: Inaccurate data can result in misallocation of resources . Some examples of false accounting fraud include: an employee making inflated expenses claims. a customer or an employee falsifying accounts in order to steal money. an employee using false accounting to cover up losses built up through trading or fraudulent activity.

7. Speculation and insider trading Speculation (also known as speculative trading) is a financial term that refers to the act of purchasing an asset (a commodity, good or real estate) that has a substantial risk of losing value but also holds the hope of gaining value in the near future . Insider trading is buying or selling a publicly traded company's stock by someone with non-public, material information about that company. Non-public, material information is any information that could substantially impact an investor's decision to buy or sell a security that has not been made available to the public.

8. Application in hr mare alike compenssation Compensation planning is the responsibility of Human Resources and/or a dedicated Compensation & Benefits manager/department. It includes a strategic approach to balancing your company's financial interests and operating goals while attracting, retaining, growing, and rewarding its employees . Compensation management is an integral factor of the human resources department. HR stitches together the employee data to make up their rewards structure. They do the compensation assessment to reward them for their performance. The benefits can be monetary or non-monetary, but the aim stays the same.

9. Application in hr mare alike work place harassment Be clear and get to the point. Provide enough information that HR can see there is a harassment problem that needs investigation. Explain where and when the harassment occurred, as well as who witnessed it. Describe the incidents in chronological order, which is the easiest for people to understand .  toxic workplace is a hostile or negative environment where employees are subjected to abuse, aggression, or humiliation. In a toxic workplace, employees may feel unsafe or uncomfortable, and can be subjected to stress, anxiety, and depression.