Industry

Industry is the production of goods or services in an economy; It is generally classified into the sectors: primary or extractive, secondary or manufacturing, tertiary or services; there is no lack of someone who adds quaternary or knowledge.

Business ethics and corporate governance

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Introduction: Business ethics and corporate governance. Business ethics examines how to deal with corporate governance, whistleblowing, corporate culture, and corporate social responsibility. It emphasizes the normative principles prescribed by the governing bodies. Non-compliance with business principles leads to unnecessary legal actions.

Discipline also emphasizes the code of conduct. A set of unwritten rules that need to be legally enforceable. There’s a lot of pleasing print when it comes to ever-changing corporate regulations. Business ethics, therefore, educates entrepreneurs and employees about ethical procedures and penalties for non-compliance.

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Ethics in Human resource management or HRM

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Introduction: Ethics in Human resource management or HRM. Ethics in HRM refers to the ethical principles, values, and standards that guide the behavior and decision-making of HR professionals within an organization.

It is a fundamental aspect of HRM that upholds fairness, integrity, and accountability in all HR practices and interactions. Morals are the principles or morals internalized or reinforced by individuals that help them distinguish between right and wrong and act accordingly. 

Human resource management ethics treat employees with common courtesy and distributive justice. It is a subset of business ethics. Human resource managers should avoid discrimination based on color, caste, culture, appearance, religion, employment status, etc. With efficiency and effectiveness.

This article will delve into the basic elements of ethics in HRM, its significance, ethical challenges, and real-world implications.

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Ethical Dilemmas in Business

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Introduction: Ethical Dilemmas in Business. An ethical dilemma in business is a complex situation where individuals or organizations choose between conflicting moral principles, values, or interests. These dilemmas often arise when pursuing profit and business objectives clash with ethical considerations, societal norms, or legal obligations.

Trust plays an important role in how the public views a company—and that perception can make or break an organization. This is where business ethics come into space. 

A 2021 survey by PwC found that 49 percent of consumers started buying more from businesses they trusted. Issues such as data protection and cybersecurity, treating employees well, ethical business practices, and admitting mistakes were key drivers of consumer trust.

Ethical dilemmas can occur at various organizational levels, from top executives making strategic decisions to employees facing day-to-day operational choices. This article will thoroughly explore the conception of ethical dilemmas in business, examining their causes, consequences, and possible solutions.

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