Assignment on Ethics in Bangladesh

Introduction Ethics concern an case-by-cases honorable judgements ab show up secure and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company. The ratiocination to be break ethic on the wholey is a moral one employees must locate what they think is the right course of action. This may accept rejecting the route that would strain to the biggest short-term profit. Ethical behaviour and integrated social responsibility stinkpot bring significant benefits to a occupancy.Business morality ( overly corporate ethics) is a carcass of applied ethics or professional ethics that examines ethical principles and moral or ethical lines that arise in a argumentation environment. It applies to all aspects of air conduct and is relevant to the conduct of individuals and entire organizations. The range and amount of money of railway line ethical issues reflects the interaction of p rofit-maximizing behavior with non-economic concerns. Governments use rectitudes and regulations to site vocation behavior in what they perceive to be beneficial directions.Ethics implicitly regulates argonas and details of behavior that lie beyond governmental control. The emergence of handsome corporations with limited relationships and sensitivity to the communities in which they operate accelerated the development of ceremonious ethics regimes. When business people speak about business ethics they usually mean following things (1) avoid breaking the criminal law in ones work-related activity (2) avoid action that may consequence in civil law suits against the company and (3) avoid actions that ar bad for the company image.Businesses ar especially concerned with these three things since they involve loss of money and company reputation. In theory, a business could look at these three concerns by assigning corporate attorneys and everyday relations experts to witness em ployees on their daily activities. Anytime an employee might stray from the straight and narrow mellowedroad of acceptable conduct, the experts would guide him back. Obviously this solution would be a fiscal disaster if carried out in practice since it would hail a business more in attorney and public relations fees than they would save from fitting employee conduct.Perhaps reluctantly, businesses turn to philosophers to instruct employees on becoming moral. For over 2,000 years philosophers have systematically addressed the issue of right and wrong conduct. Presumably, then, philosophers can apprize employees a basic commiserateing of morality will keep them out of trouble. However, it is not likely that philosophers can teach anyone to be ethical. The job of statement morality rests squarely on the shoulders of parents and ones early social environment.By the time philosophers enter the picture, it is too late to change the moral predispositions of an adult. Also, as yet if philosophers could teach morality, their recommendations are not al ways the most financially efficient. Although world moral may save a company from some profound and public relations nightmares, morality in business is also costly. A morally responsible company must pay special anxiety to product safety, environmental impact, truthful advertising, scrupulous marketing, and humane working conditions.This may be more than a tight-budgeted business bargained for. We cannot easily resolve this tensity between the ethical involvements of the money-minded businessperson and the high-flown-minded philosopher. In most issues of business ethics, ideal moral principles will be checked by economic viability. To understand what is at stake, we will look at three different ways of deriving standards of business ethics. Common Unethical Practices in Business & financial Sectors In Bangladesh 1. Bribe Taking boon is a common phenomenon in Bangladesh, especially in the government secto r.It is the most common form of putrescence k instantern to most people. If someone goes to a government office for a routine work, which the office is supposed to perform, in most cases, he/she has to bribe the sub-staffs of that office. And if on that point is any severe procedural difficulty in the work, he/she has to pay a high amount to get the job done. sometimes wrongful procedures are also executed at a high negotiated bribe. Obviously, not only the sub-staffs but also the officers of different levels are also involved in the whole mould.Taking bribe has become a course of study in the government offices and general people have accepted it as inevitable. 2. Embezzlement of Funds Embezzlement of stemmas allocated for a particular realize or from deposits of banks also happens often in Bangladesh. In the banking sector, embezzling bullion is a very common type of corruption. Each year many bankers mislay their job if their corruption is proved. Massive embezzlement of capital market fund has also happened in the history of Bangladesh.Fraud & forgery in using the funds allocated for development projects is also common in Bangladesh. By using indifferent materials then what was quoted in the tender process, contractors maximize their profits & serve the interest of the corrupted officers. As a result of using inferior materials the project loses its validity soon, which makes inevitable to launch an different(prenominal) tender process i. e. , an separate scope for corruption in this way corruption has become a cyclic phenomenon in Bangladesh. 3. Syndication in BusinessSyndication in the business sector is harming the public interest in Bangladesh to a great extent. Originally, syndications like trade unions, officers club, business unions etc. were formed to save the interest of their members from greater adversities. But this syndication is now also being used to overemphasize business interest, while not considering its harmful consequences on public life. A businessman, even if his production cost & other costs are much less than other businessmen, cannot lot his products at a scathe significantly lower than his competitors.While in other countries, festivals are meant to give sales discount, in Bangladesh, commodities reach their peak price in times of festivals like eid & others. 4. Environmental Issues Saving the environment from befoulment is a great challenge worldwide. The requirement of effluent treatment plants(ETP) and other measures to control industrial environmental pollution causes the production cost to rise. So business persons in Bangladesh, highly motivated by profit maximisation theory, do not care the environmental issues. At many industries there are ETPs fitting for eyewash.And bribing the government officials concerned for environmental issues makes it easier for business persons to get more reluctant about the environmental issues. 5. Unethical procurance Practices Unethical practice in selec ting vendor from procurement process is other common corruption form in Bangladesh. Sometimes political forces are applied to get the work order in favor of a particular vendor. Taking bribe to manipulate the result of procurement process also prevails. Corruption in the procurement process is also stem of many other consequent corruptions. 6. NepotismNepotism & taking bribe in the enlisting process of many government & private organizations is a great problem in a country like Bangladesh where unemployment rate is very high. These problems are leaving the young generation in despair. As a result different forms of crimes are increasing in the society. 7. Evading Tax, Utility Bills etc. Evading impose is a tendency in general, from corporate organizational level to individual level. Many corporate organizations prepare false spreadsheets to evade/minimize corporate taxes, whereas individuals seek ways to evade/minimize their income tax.Not paying the utility accuse and then mana ging it by bribing staffs of concerned offices, is also common in Bangladesh. closing curtain Ethical practice in economic arena is very classical in a country like Bangladesh, where economy is emerging at one side and on the other side population denseness is increasing. Massive unethical practices tend to increase inequality in the society, which is poisonous to the overall progress of the society. Ethics is no doubt an meaning(a) business subject for any entrepreneur to study, but it also has a wider action throughout organizations.One mans concept of what is ethical and for the best may be wholly different from another mans concept, and so its important to establish a collective set of ethics that represent the entire organization rather than just adopting a piecemeal approach. This can be installed through training, through creating business policies and even through careful selection at the HR stage, although its important that there are also enforcement mechanisms wit hin the business concerned, and that ethics lodge a forefront consideration in day-to-day trade to check out a unified, morally sound approach to doing business.