Concept of Business Ethics.

There are many customs, traditions, rituals, festivals present in every society All these things have two aspects positive and negative. The process in which we follow all these things and use them in our business to perform our function in an effective, efficient, and economical way and achieve our goal.

In other words, we can say the part of ethics that belongs to the business and use it in business to make business more progressive, developing and achieving the goal of business this process is called business Ethics.

Nature:

1. It is an internal part of the business.

2. It is a micro approach.

3. It is a progressive approach. 

4. It puts an impact on the people and the environment of the organization.

5. It makes the organization progressive.   

Importance -

There is much importance to the business environment. This importance is as below 

1. Production: It is the first function of the business. There are many elements of production. These elements are people, finance, plant, and raw material. People are the first element of production. If the environment of business is progressive human resource forces use and provide their best talent, knowledge, skill, and wisdom for the development of the organization so the production of the organization became maximum. Business ethics makes the environment of business progressive.

2. Performance -Business ethics also improves the performance of individual groups, teams, and organizations. It also improves the capacity, capability, and strength of employees so they provide their best to achieve their objectives at every level.

3. Environment-There are many elements of the organization. These elements are people, structure environment, and technology. Every element is important and puts its an impact on other elements but the environment is very important because it uses another element in an efficient efficient way. Business ethics makes the environment of the organization more progressive so it inspires, influences motivated employees to contribute their best for the development of the organization.

4. Goal achievement process - It is also an important role of business ethics There are many goals of the organization. These goals are survival, Sale revenue maximization, profit maximization, and so on. Organizations choose one of the best goals according to the strength of the firm. Business ethics plays an important role to inspire all levels of managers to contribute their best for the goal achievement process of the organization. 

*Functions :

Besides the above explain function there are many other functions business ethics plays an important role in the growth of the organization. These roles are as below:-

1. It makes the function of the organization effective, efficient, and so on.

2. It helps to increase the sale of the organization.

3. It also helps to perform the function of business like demand forecasting, supplying, pricing, advertising more progressive.

4. It also helps to provide managerial functions like Planning, Organising, Staffing, Directing, Controlling in innovative ways.