THE ETHICAL ISSUES
These days we have seen that many organizations are having issues like disciplines of management in departments like HR,Finance and Marketing. These issues needs to be confronted by a company in order to be successful in the future
HRM:-
It is strategic approach to effective management of people in the organization and helps it gain a competitive advantage over the other. here are some of ethical issues faced by HRM:-
EMPLOYMENT ISSUES
- HR Professionals are likely to face maximum ethical dilemmas in the areas of hiring people. like people showing fake credential for a job
- pressure to hire a friend or relative of a highly placed executive
Cash and Incentive plans
- Cash and incentive plans include issues like basic salaries,annual increments , executive perquisites and long term incentive plans
Ethics in HRM
Privacy Issues
All human beings working with any organization have their personal life. An employee needs the organization to directly or indirectly protect his/her personal life. This personal life includes things like the religious, political and social beliefs etc.Race, Gender, and Disability
There are several examples of organizations where, until recently, the employees were treated differently based on the race, gender, origin, and their disability. This is not the case anymore since the evolution of laws and a regulatory framework standardized for the employee behavior. In ethical organisations, the only factor of appraisal is performance
FINANCE:-
ETHICS IN FINANCE
Ethics in general is concerned with human behavior that is acceptable or "right" and that is not acceptable or "wrong" based on conventional morality. General ethical norms encompass truthfulness, honesty, integrity, respect for others, fairness, and justice. They relate to all aspects of life, including business and finance. Financial ethics is, therefore, a subset of general ethics.
ETHICAL VIOLATIONS
The most frequently occurring ethical violations in finance relate to stakeholder interest versus stockholder interest, investment management, and campaign financing. Businesses in general and financial markets in particular are replete with examples of violations of trust and loyalty in both public and private dealings. Fraudulent financial dealings, influence peddling and corruption in governments,misuse of customer funds for personal gain, mis-pricing customer trades, and corruption and larceny in banking have become common occurrences.Marketing
ETHICS IN MARKETING
Ethics are a collection of principles of right conduct that shape the decisions people or organizations make. Practicing ethics in marketing means deliberately applying standards of fairness, or moral rights and wrongs, to marketing decision making, behavior, and practice in the organization.The purpose of marketing is to create a competitive advantage. An organization achieves an advantage when it does a better job than its competitors at satisfying the product and service requirements of its target markets.
Ethics violations
Marketing practices are deceptive if customers believe they will get more value from a product or service than they actually receive. Deception, which can take the form of a misrepresentation, omission, or misleading practice, can occur when working with any element of the marketing mix. Because consumers are exposed to great quantities of information about products and firms, they often become skeptical of marketing claims and selling messages and act to protect themselves from being deceived. Thus, when a product or service does not provide expected value, customers will often seek a different source.
Conclusion:
So from the above we saw how different departments have different ethic related problems but one thing which is common is that the violation of ethics always lead to having a disadvantage and uncertainty internally among the organization.So everyone organization should follow their respective ethics
