Being Ethical in every Core feild of Management

Ever wondered except of Morlas there is one word called Ethics which can play a very important role not only in your profession, but in your life too.

Being Ethical means an individuals loyalty,behaviour & understanding of right and wrong in each activity whatever he/she is performing.

In terms of an HUMAN RESOURCE manager being ethical does not only mean providing fair remuneration,working hours or any other perks

   It's actually a decision between Right vs Right (Selecting the best option)

• It's right to tell the truth,but it is also right to be kind and considerate of people's feeling and emotions.

• It's right to apply rules and procedures equally without partiality,but it is also right to give some special treatment to hard woking,dependable and productive employees.

                                   

Ethical issues which an HR face's in any organisation-

• Performance  appraisal:-

1.)Central tendency,minor personality etc.                                                                                

2.)Method of appraisal is not proper                                                                                                                                                                                       

• Bribery:-          

1.) Taking bribes from employess during promotions etc..               

• Salary & wage administration:-     

1.)Paying different rates of man and woman doing same kind of work                             

2.)Loss suferring compant being expected to declare bonus   

• Privacy:- 

1.)Background information                                                                                                

2.)Monitoring on/off the job 

• Effective dismissal:-    

1.) Legal & valid reason's for dismissal                                                                              
2.) Be firm with your decision   

• Training:-     

1.) Absence of feedback on training                                                                                    
2.)When training infrastructure is not fully utilised

                                                                                                                                                                              
Measures to control Unethical practices-

1. Administrative reform
2. Compulsory disclosure of assets
3. Introduction of core values
4. Establishment of ethical codes
5. Policy and programme rationalisation

                                         FINANCE

Unethical practices:-

• Many accounting scandals over the past two decades have centered on fraudulent financial reporting. Fraudulent financial reporting is the misstatement of the financial statements by company management. Usually, this is carried out with the intent of misleading investors and maintaining the company's share price.

While the effects of misleading financial reporting may boost the company's stock price in the short-term, but there are almost always ill effects in the long run.

• On an individual employee level, the most common ethical issue that arises in accounting is the misappropriation of assets. Misappropriation of assets is the use of company's assets for any other purpose than the interest of company.

For example, a senior level executive may charge a family dinner to the company as a business expense. At the same time, a line-level production employee may take home office supplies for personal use. In both cases, misappropriation of assets has occurred.

Being Ethical hepls:-

1. Planning

   
   
   Accountants have a responsibility to provide the business owners and stakeholders the accurate information that facilitates sound planning. This obligation involves providing accurate information, and providing it in a time frame so that required decisions and planning can be done.
2. Taxes

   Your company has a legal obligation to provide financial information fairly and accurately on tax forms. Providing inaccurate information to tax agencies may lower your tax burden, but you will be subject to fines and other charges if you are caught. Ethical accounting practices ensure that your firm is not misguiding the tax agencies.
3. Perception

   Honest and ethical accounting helps to create a positive image for your business. When a company makes news for dishonest accounting, it loses the trust of current and potential customers as well as investors. This is especially important with industries that depend on strong working relationships with their customers and investors.

Doing unethical practices in your financial statements is not less than stupidity,just for a very short term benefit of it company is loosing trust of it's stakeholders which can result in a huge and huge loss for a company later. So it's better to provide fair and transparent information which will result in long term returns for any organisation.

MARKETING

An ethical marketer belives in building trust and one solid truth is, the more trust you can build, the more money you can make. 

Why You Should NOT be an Unethical Marketer!

The simple answer is, it does not pay. 

Unethical marketers focus more on the present but ethical marketers focus greatly on the future because the future is what which will give them long term benefits.

Being an unethical marketer is the worst thing you can do. Not only do you completely destroy any sort of name you’ve built for yourself, but you actually start to build a following of people who will spread negative publicity about you.

Unethical marketing doesn’t pay because you will end up "making lots of people unhappy" but being an ethical marketer really pays off because you will change lifes and make people happy.

How does Ethical marketing works?

• Ethical Marketers know there is a process and they are ready to follow the process.
• They know the importance of trust and ready to build it.
• They do care about the consumers and they love to give value than making money.

Benefits of Ethical Marketing

1. It pays.

2. You build trust.

3. You make more money.

4. You build more relationship with people whose lives you are making better.

5. It causes about an effect of viral marketing.

6. You are happy – because you made others happy.

Ethical marketers live by principles, they are not just there for money. They are human and have the human feelings and their utmost concern is giving value.Being an ethical marketer takes longer, but you’ll be much more successful in the long run!