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November 01, 2019

        Look in the newspaper or listen to network news at nine or any other hour or virtually any day of the week you will find at least one business scandal in which a country appears to have violated the rules or standard of behavior generally accepted by the society.

    Toxic waste have been allowed to floe freely into a river, bribes have also been paid in order to secure a contract, child labor have been used to assemble some products,  and discriminatory practices have presented the employment or promotion of members of a particular group and so on. 

   Thus given the increasing social impact of business.  Newell (2002) argued that business ethics emerge as discrete subject over the last 20 years to influence the professional manager's behavior especially to be Honest in his activities with the members of the public whom he serves with his company's product and services. On his own part, Degeorge(2005) observed that business ethics is concerned with exploring the moral principles by which we can evaluate business organizations in relation to the impact of the people and the environment. Berle and means (2003) in a very clear terms Treve noted and Nelson in 1999 categorized four types of ethical problems common in business organizations ;first are human resourcing ethical problems, which relate to the equitable and just treatment of current and potential employees.

Unethical behavior here entails treating people unfairly because of their gender, sexuality, skin, color, religion, ethic background and so on.
Second are ethical problems arising from conflict of interest. Here particular individuals or organizationsare given special treatment because of some personal relationship with the group making a decision. A company might get a lucrative contract, for example because a bribe was paid to the management team of the contracting organizations,  not because if the quality of the proposals.
Third are ethical problems involving customer cinfidence,  with companies behaving in ways that shows lack of respect for customers or a lack of concern of public security. Examples here include advertisement that lie(or at least conceal the truth)  about particular goods and services and the sale of products a company knows to be unsafe.

ETHICS OF THE BUSINESS ETHICS OF THE BUSINESS Reviewed by eemyblinks on November 01, 2019 Rating: 5


November 01, 2019
     Business enterprise, small, medium or large requires some basic needs for its proper functioning. For instance, a hawker of ware of needs premises, some sell, and at times a shade where to sell.

         The  mechanic needs premises, some tools and other people who need skills to service vehicles for his customer. An electrician would need tools and assistance in other to carryout repairs in other people's  houses. It also follow that business where raw materials such as groundnut, cotton, sea-nut, cocoa, rubber among others,  have to proceed certain basic needs to be acquired to be able to operate effectively. These needs are called resources; They enable a firm to complete favorably with other firms in the market place.

 The following are some of the basic needs or resources required by an entrepreneur before the commencement of the business operations :

(1) Money
     Money is needed in all aspects of business,  in order words, money is indeed at all levels of business formation. The entrepreneur needs money to register his business under the registration of business name act of 1961 or companies allied matters act of 1960 and other related laws. Also the entrepreneur would need money to buy land and build the business office or hire officers, pay taxes,  buy or hire machines or equipment, hire the managing of the business, selling products and keeping record of transactions.  The entrepreneur can source the money from his savings at bank or with cooperatives. He may also borrow money from bank(bank of industry,  micro finance bank among others)

(2) . Material
        Without raw materials or goods to use in our business enterprises,  the business house will remain an empty structure, waiting to crack and fall apart, skilled and unskilled workers will have no work to do and the machines we bought will be bought will be lying idle till the final depreciation. Raw materials include all the substance used to make things. For instance,  rice milling industry will need rice; the producer of garri will need casava, pom oil producer will need palm fruits sugar producer will need sugarcane and so, fruit juice producer will need varieties of fruits. We can Aldo buy raw materials or goods we need in our business. If we have our own money, otherwise, we can borrow money to buy them.

(3)  . Machines and other working tools
     Machines are used in transforming raw materials into finished goods. We need machines and equipment to carryout production work. In our business enterprise. It could be simple or complex machine or a combination of both, depending on the nature of business. Machines can make a tough job seem easier by enabling a worker apply less force In a direction that is easier to manipulate. For instance photocopy machines computer sets and internet connectivity services in a business center can make the work of operators easier. We can buy or hire machines.  Also, if we have our our own money or else we xn borrow money to buy them

(4). Men
      In business, we need the mental as well ad physical capabilities of men and women to start productions and other activities. In other words, we need the support of other people to operate our machines, pack our goods, sell our goods, keep records if what we buy and sell,  keep the business premises clean, watch the goods and marerialin the factory. For these services, we can employ the services of worker.  There are two categories of workers. The management of staff who stay in the offices to manage the business. The other category is skilled and unskilled workers who work in the factory.

(5) .  Land
   This could be open land/yard, a complete building or part of a building. Nevertheless, it is the business house or workshop from where business activities( production, sales, distribution etc ) take place. We can hire land or building for our business activities or buy them out rightly. If we have our own money otherwise, we have to borrow money from friends, relations, banks and other money lenders to buy or hire land or building fit our business activities

(6)Knowledge and skill
     The need for knowledge ad part of our business resources have been dictated by the demand of the plural society. This demand has created knowledge opportunities as well; as knowledge entrepreneurs. A knowledgeable entrepreneur could be seen as someone who applies to productive work, concepts and information rather than manual skill.  This is partly because knowledge is foundation of skill and partly due to the fact that knowledge without skill is unproductive. The application of knowledge to productive work requires determination and skill. Skill is the ability to do work expertly and well. Therefore,  possession of relevant knowledge facilities combination of skills and other resources required by the entrepreneur. Nevertheless we can acquire knowledge from formal and informal learning systems.


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