BUSINESS ETHICS

Business Ethics and Corporate Social Responsibility



Business Ethics and Corporate Social Responsibility

Ethical Business Behavior

The literal meaning of ethics is the moral values and principles which deduce the conduct of an individual and in terms of business it exhibits the culture, norms and code of conduct of an organization. The practices of ethics in business involve ensuring the legal standards to be up to the mark, and the relationship organization posses with its employees in the community, this would includes all the stakeholders of an organization.

Business ethical behavior refers to the activities the business do in commercial terms, with other business or with customers. The ultimate objective of a business is to maximize the stakeholders profit, in order to reach there every business has to get the resources from the community, so the business must participate in the shared interest of the society and assure to practice fairly (Milton, 1995).

The ethical behavior is performed on the basis of certain codes that the organization has documented for its employees and managers to follow and to secure the rights of the society and the people living in the society.

Some examples have been shared, which are as follows about the ethical business behavior and practices that should be adopted by the organizations to develop a fair image of an organization.

An organization should assure to protect the investors property in terms of the assets provided to the company, and payments should be done on timely basis.

Company should provide equal opportunity to all the employees.

Customer should be aware about the product, proper and complete information should be provided to the customer.

Government policies, legal laws and rules should be followed; companies should pay taxes, duties fairly.

Competition should be taken, and played fairly; the main objective should be avoided polluting air, water.

Ethical Practices in Primark

Primark run a business providing its customers with the latest updated fashion philosophies at affordable prices. Other businesses linked with Primark also deals in buying and selling. The main notion that they consider to be very important is their culture, values and ethos, which they termed as the key to their success.

Primark is a fast and very self-motivated organization, which has their entire attention on their customers, thus their business is more towards customer orientation. The business is a retail based business which is human resource driven, those people are invited who has more passion and show their enthusiasm, and dedication towards work in retailing.

As far as ethical practices are concerned Primark is not a backward company, they support the elements of ethics and their business units also support the ethical practices. The business's code of conduct is based on the International Labor Organization commonly known as ILO Codes. The codes basic idea is to provide equal opportunity to both men and women, so that they could work freely, in the environment where they are given proper equal rights, security and dignity of work.

These are some of the core values written in Primark's Code of Conduct

Provide value for ...