Posted on: 02/07/2021 Posted by: Kageoni Comments: 0

Most businesses have a mission statement, centered round qualities and values they swear to uphold. An entrepreneur should not only know the ethical behavior standards, but also to follow them. Social Sciences or humanities is a collection of academic disciplines that pertain to the study of social life of human groups, individual and animals. Ethics goes beyond the legal requirements for a company and is, therefore, ethic

The ethical issues in business have become more complicated because of the global and diversified nature of many large corporation and because of the complexity of economic, social, global, natural, political, legal and government regulations and environment, hence the company must decide whether to adhere to constant ethical principles or to adjust to domestic standards and culture.

Therefore, one could conclude that it would be unethical for the company not to act in the interests of its stockholders, as it relates to giving them a higher return on investment. Insurance is a fundamental need of any individual who wants to have adequate financial security, for himself and his family.

For example in the accounting department, if unfair pressure is put on employees to deliver an audit report which has been altered or not showing current accounts of the organization would be un ethical, as it does not follow the standards and policies set by the organization.

The philosophy of business also deals with questions such as what, if any, are the social responsibilities of a business; business management theory; theories of individualism vs. collectivism; free will among participants in the marketplace; the role of self interest; invisible hand theories; the requirements of social justice; and natural rights, especially property rights, in relation to the business enterprise.