Posted by Admin on September 15, 2011
The main factors determining business ethics are as follows:
1.? Personal Values: The personal values and beliefs of top managers largely determine the level of ethics in a company. Lower level managers and workers follow the ethical standards adopted by their superiors.
2.? Social Factors: The values, customs and traditions of a particular society governs the ethical behaviour of citizens and businessmen in that society. Society can compel bu ? ness community to follow ethical norms.
3.? Professional Codes: Ethical codes prescribed by professional associations influence ethic, in business. For example, the All India Management Association (AIMA) has laid dou r a code of conduct for professional managers.
4.? Political Factors: The Government in power, political parties and leading politicly exercise significant influence on business ethics. Legislative measures, judicial measur and executive measures determine ethical standards in business.
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Source: http://kanans.com/what-are-the-factors-determining-business-ethics-explain/
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