The principle of Business Conduct
Business Conduct sometimes called a code of ethics, is a management tool for setting out an organization’s values, responsibilities, and ethical obligations. There are some principles of business conduct to regulate the ethics of the people involved in business activities. Those principles are given below:-
(a) To maintain: The human dignity and self-respect of the individual by supporting a sound and equitable program of human relations and providing the opportunity for self-expression and personal growth.
(b) To earn: A fair profit to make possible the economic stability and growth of the company and to provide a just return on the investment of the stockholder.
(c) To merit: The respect and confidence of our customer, suppliers, and competitor’s by maintaining the highest standards of product quality and service at fair price.
(d) To Support: Worthwhile community programs and to encourage, the employee’s in important community affairs.
(e) To Require: That our employee’s refrain from action. Which constitute a conflict of interest?
(f) To perpetuate: Our priceless heritage of complete integrity in the conduct of all our operations.
Thus, one way to view a business conduct is as a type of preventative medicine. Without it, a business is vulnerable because it has neglected to take business ethics seriously.