Business Law and Ethics Essay

2354 Words Nov 2nd, 2010 10 Pages
Business Law and ethics

Subject:

The objective of this report is to highlight the importance and need of ethics, ethical leadership and organisation behaviour. The report is based on the speech of Michael Hackworth.

Leadership in fairness and honesty makes good business sense.

Organisation behaviours, culture, values, management style and ethics, all of them make a combination on which company success and failure depends. Every company in the world start by stating the mission, objectives, values, belief and structure. Every part of it influences each other. It is very difficult to maintain balance between them.
Michael Hackworth express that top management some time ignore the ethics and ethical boundaries which
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Normally companies and businessman’s need a good quality business plan with good business strategies in order to cope this starving market, also with ethics in order to be flourishing in this fast growing world.

Are profits too high and exploiting the customer?

Now a day, every company is trying its level best to maximize its profit either by hook or crook. And in reality it is the main agenda and goal of every company to maximize its profit. Otherwise, there is no mean of doing any business. But the thing is either company are making and maximizing their profits by adding value to its customers. Whatever they invest into the particular product, are customer is getting the same value of their investments. But if we look around our surroundings then those companies either it is industrialist, businessman and entrepreneur all are trying their level best to maximize their profit and increase their wealth by exploiting their customers. However, consumer of the product normally looking for extra and most excellent services in order to get better their own working effectiveness by minimizing costs, decreasing capital investment and predetermined spending. Exploitation of consumer from vendors is look like a never ending difficulty. There are lots of ways to exploit a customer. Sometimes wholesalers and retailers charge a higher price then mentioned price on the product. They give to their lesser quantity then