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Chapter: 11th Commerce : Business Ethics and Corporate Governance

Code of Business Ethics

Code of ethics documents the generally accepted principles of ethical conduct.

Code of Business Ethics

 

Code of ethics documents the generally accepted principles of ethical conduct. They are statements of values and principles which define the purpose of an organisation. It gives a clear picture of the standards that employees should follow .It guides them in decision making.


The code of business ethics can include the following:

1.        To offer goods at fair prices.

2.        To supply quality goods and not to deal in spurious and sub standard products.

3.        To listen to consumer’s complaints and to reduce them.

4.        Not to raise the price of its products unjustifiably.

5.        Not to resort to hoarding and black marketing.

6.        Not to resort to price cutting with the sole aim of killing competition.

7.        Not to issue advertisement containing false information or exaggerated claims.

8.        To pay fair wages to its employees and not to exploit them.

9.        To provide congenial work atmosphere.

10.   To design production  process  in  such a way as to reduce environmental pollution.

11.   To keep proper books of accounts and records.

12.   To pay taxes regularly.

13.   Not to overlook Government rules and regulations even at the time of incurring losses.

 


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11th Commerce : Business Ethics and Corporate Governance : Code of Business Ethics |


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