Assignment on Ethics in Bangladesh

Introduction Ethics concern an singles clean judgements ab erupt 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 finding to be befuddle ethic every(prenominal)y is a moral one employees must mold what they think is the right course of action. This may take rejecting the route that would carry to the biggest short-term profit. Ethical behaviour and unified fond responsibility mass bring significant benefits to a bloodline.Business morality ( in like manner corporate ethics) is a phase of applied ethics or professional ethics that examines ethical principles and moral or ethical hassles that arise in a affair sector environment. It applies to all aspects of cable conduct and is relevant to the conduct of individuals and entire organizations. The range and measure of craft ethical issues reflects the interaction of profit-maximizing behavior w ith non-economic concerns. Governments use honors and regulations to tailor business behavior in what they perceive to be beneficial directions.Ethics implicitly regulates aras and details of behavior that lie beyond governmental control. The emergence of vauntingly corporations with limited relationships and sensitivity to the communities in which they operate accelerated the development of semi-formal 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 solvent in civil law suits against the company and (3) avoid actions that be bad for the company image.Businesses be especially concerned with these three things since they involve loss of money and company reputation. In theory, a business could engineer these three concerns by assigning corporate attorneys and earth relations experts to bodyguard employees on their daily activities. Anytime an employee might stray from the straight and narrow caterpillar tread of acceptable conduct, the experts would guide him back. Obviously this solution would be a financial disaster if carried out in practice since it would address a business more in attorney and public relations fees than they would save from proper 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 inform employees a basic take careing of morality will keep them out of trouble. However, it is non likely that philosophers can teach anyone to be ethical. The job of breeding 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, yet if philosophers could teach mo rality, their recommendations are not al ways the most financially efficient. Although macrocosm moral may save a company from some efficacious and public relations nightmares, morality in business is also costly. A morally responsible company must pay special attending 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 latent hostility between the ethical cheers of the money-minded businessperson and the nonpareil-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 &038 pecuniary Sectors In Bangladesh 1. Bribe Taking sully is a common phenomenon in Bangladesh, especially in the government sector.It is the most common form of putrefaction k right offn 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 at that place is any severe procedural difficulty in the work, he/she has to pay a uplifted 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 edge.Taking bribe has become a effort in the government offices and general people have accepted it as inevitable. 2. Embezzlement of Funds Embezzlement of memory boards allocated for a particular pop or from deposits of banks also happens often in Bangladesh. In the banking sector, embezzling money is a very common type of corruption. Each year many bankers escape their job if their corruption is proved. Massive embezzlement of capital market fund has also happened in the history of Bangladesh.Fraud &038 forgery in using the funds allocated for development stands is also common in Bangladesh. By using modest materials then what was quoted in the tender process, contractors maximize their profits &038 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 new(prenominal)(prenominal) tender process i. e. , anformer(a) 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 &038 other costs are much less than other businessmen, cannot betray his products at a bell 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 &038 others. 4. Environmental Issues Saving the environment from pollution 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 scantily 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 procurement Practices Unethical practice in selecting ve ndor 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 foot of many other consequent corruptions. 6. NepotismNepotism &038 taking bribe in the recruitment process of many government &038 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 revenue 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 bill and then mana ging it by bribing staffs of concerned offices, is also common in Bangladesh. polish Ethical practice in economic arena is very beta in a country like Bangladesh, where economy is emerging at one side and on the other side population concentration is increasing. Massive unethical practices tend to increase inequality in the society, which is hurtful to the overall progress of the society. Ethics is no doubt an classical business subject for any entrepreneur to study, but it also has a wider use throughout organizations.One mans concept of what is ethical and for the best may be exclusively different from another mans concept, and so its important to establish a bodied 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 within the busines s concerned, and that ethics stick a forefront consideration in day-to-day trade to suss out a unified, morally sound approach to doing business.