Ethical and unethical issues related with finance,human resource and marketing

Ethical and Unethical issues related to different fields

During studying ethics and unethics we should know about ethics and ethics related to buisness-

Ethics - Ethics is about what is right or wrong.Thus ethics is the moral values or belief that is performed, when he/she performs an activity.

Buisness Ethics - Being ethical to buisness e.g-to maintain honesty,discipline,and fairness with the customers or the employees working in the company

Ethical issue-Ethical issue in marketing arises from disagreement and conflicts.The parties that are involved in marketing transaction they always used to expect that how the buisness relations will take shape and buisness will run smoothly e.g-various market brand knows that their reputation will be severely damaged by any kind of misinformation.Thus various issues in marketing are as follows-

Product quality and quantity
Product development
Distribution
Promotions through various marketing ploys

Unethical issue-unethical marketing can convey wrong signal about any product and it can also destroy the brand reputation and at last we have to face legal problems.the various unethical issues regarding marketing are as follows-

Advertising false, exaggerated and unverified claims using fear tactics
plagiarism of marketing message
Exploitation
Spamming
Confuse potential buyers

Human resource

Ethical issues - In case of human resource ethical issue can been seen during job analysis,recruitment,and selection .Thus human resource deals with setting standard that promote ethical behaviour in work place.The following ethical issues related with human resource are

Cast, Creed and Gender disability
Employment issue
Privacy issue
Cash and Compensation issue

Unethical issues - Unethical organisation source during human resource management face several unwanted problem .according to recent data 120 million people face unethical issues in the country according to survey conducted by ethical resource center (ERI).Followings are the unethical issue during human resource

Misbehave
Lying to employee
Theft in an organisation
Disrespecting company policies
Damaging company related things

Finance

Ethical Issues - In case of finance Ethical issue is concerned with how to make a suitable honest preparation in case of transaction i.e., during data keeping, accounting period ethical issues arises and need to be handled properly. Following ethical issues related to finance are:

Fraud financial report
Penalties due to violence
Cheating with employees in various aspect
Miss appropriation of assets

Unethical Issues - Unethical issue in finance can be seen in partnership and private limited companies. Sum of the unethical issues in finance are :

Abnormal delays to employee
Manipulation in financial statements
Holding a bill of venture for silly reasons
Pressure for management to inflate earning

Ethical Issues in Marketing

Ethical issues in marketing arise from the conflicts and lack of agreement on particular issues. Parties involved in marketing transactions have a set of expectations about how the business relationships will take shape and how various transactions need to be conducted. Each marketing concept has its own ethical issues, which we will discuss in this chapter.

These are as a follow :

Emerging Ethical problems in marketing Research
Grouping the market Audience
Ethical in Advertising and Promotion
Delivery Channels
Deceptive Marketing policies and Ethics

1. EMERGING ETHICAL PROBLEM IN MARKETING RESEARCH

Market research has experienced a resurgence with the widespread use of the Internet and the popularity of social networking. It is easier than ever before for companies to connect directly with customers and collect individual information that goes into a computer database to be matched with other pieces of data collected during unrelated transactions.

The way a company conducts its market research these days can have serious ethical repercussions, affecting the lives of consumers in ways that have yet to be fully understood. Further, companies can be faced with a public backlash if their market research practices are perceived as unethical.

2. GROUPING THE MARKET AUDIENCE

Unethical practices in marketing can result in grouping the audience into various segments. Selective marketing may be used to discourage the demand arising from these so-called undesirable market segments or to disenfranchise them totally.
Examples of unethical market exclusion may include the industry attitudes towards the gay, ethnic minority, and plus-size groups.

3. ETHICAL IN ADVERTISING AND PROMOTION

In the early days of existence of corporations, especially during 1940s and 1950s, tobacco was advertised as a substance that promotes health. Of late, an advertiser who does not meet the ethical standards is considered an offender against morality by the law.

Sexuality is a major point of discussion when ethical issues in advertising content are considered. Violence is also an important ethical issue in advertising, especially where children should not be affected by the content.

Some select types of advertising may strongly offend some groups of people even when they are of strong interest to others. Female hygiene products as well as hemorrhoid and constipation medication are good examples. The advertisements of condoms are important in the interest of AIDS-prevention, but are sometimes seen by some as a method of promoting promiscuity that is undesirable and strongly condemned in various societies.

A negative advertising policy lets the advertiser highlight various disadvantages of the competitors’ products rather than showing the inherent advantages of their own products or services. Such policies are rampant in political advertising.

4. DECEPTIVE MARKETING POLICIES AND ETHICS

Deceptive marketing policies are not contained in a specific limit or to one target market, and it can sometimes go unseen by the public. There are numerous methods of deceptive marketing. It can be presented to consumers in various forms; one of the methods is one that is accomplished via the use of humor. Humor offers an escape or relief from various types of human constraints, and some advertisers may take the advantage of this by applying deceptive advertising methods for a product that can potentially harm or alleviate the constraints using humor.

5. Delivery Channels

Direct marketing is one of the most controversial methods of advertising channels, especially when the approaches included are unsolicited.

Some common examples include TV and Telephonic commercials and the direct mail. Electronic spam and telemarketing also push the limits of ethical standards and legality in a strong manner.

Example − Shills and Astroturfers are the best examples of ways for delivering a marketing message under the guise of independent product reviews and endorsements, or creating supposedly independent watchdog or review organizations. Fake reviews can be published on Amazon. Shills are primarily for message-delivery, but they can also be used to drive up prices in auctions, such asEBay auctions.

ETHICS:

Ethics is a set of rules that define right and wrong conduct.
Ethics is a code of morale or morale philosophy which is practiced by the humans or group of people in their life.
It affects that how the people lead their life and decision making .
It concerned about what is good or bad for individuals , society and also defined as moral philosophy.

BUSINESS ETHICS:

It can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company.
In the business world ,the organisation's culture sets standards for determining the difference between good and bad decision making and behavior.
In the business world the organisation culture set standards for the determining the difference between good or bad behavior.

Here we will be looking after various ethical and unethical issues in
departments of management like-

Human resourse
Marketing
Finance

ETHICAL ISSUES IN MARKETING

Ethics in marketing refers to moral guidelines and principles that every
organisation should follow. Every company has a particular marketing policies to guide their pricing advertising ,research,and various other provisional and competitive strategies

e.g-various market brand knows that their reputation will be severel
damaged by any kind of misinformation.

various ethical issues in marketing are-:

Deceptive marketing policies.
Adequate market research.
Current market research.
Ethics marketing and promotion.
various delivery channels.
Current market condition.

UNETHICAL ISSUES IN MARKETING:

In present scenario corporate trust has been on a lower side.
Customers faith from organisations has no longer that strong.

Some of the major unethical practices are :

Misleading advertisement with false claims that supports their product.
Emotional exploitation.
contacting people without having their knowledge.
false promises for the products in sake of profits at large scale.
misinterpretation of services.
Exploitation.
Spamming.
Confuse potential buyers.
exaggerated and unverified claims using fear tactics.
plagiarism of marketing message

Ethical issues in HR

Human resource is used to describe both the people who worked
for the company and the organisation and the department responsible for managing resources related to employees

HRM involves both strategic and comprehensive approaches to managing people as well as workplace culture and environment.

Various ethical issues related to human resource are-

Employee Responsibility: Organisation also have responsibility of their employer,as an employee you have a duty of care,responsibility of safety at work place,ensuring workers receive sufficient,information, ,instruction and training in the work place that the work may be required to perform.
Restructuring and lay offs: It is temporary suspension or permanent termination of employment of an employee or more commonly group of employee for corporate reason such as personnal management or downsizing an organization.
Performance Appraisal: Ethics should be considered on the basis of performance appraisal. Highly ethical evaluations demands the honest assessment of the performance and steps should be taken to improve the effectiveness of employee.
Cash and incentives plans: cash and incentives plans should be includes the basic issues like salaries, bonus, annual increment, or incentives, executive perquisites,and long term incentives plans.
Employees discrimination: A frame work of laws and regulation has been evolved to avoid the practice of treatment of employee on the basis of their caste,gender,religion,age,disability,etc . there should be no discrimination with the worker.

Unethical issues in HR:

There are following unethical issues in human resource managemen which is listed below-:

Misusing company time : Whether it is covering for someone who shows an update or altering a time sheet , misusing company time top list . This category includes knowing that one of your worker is receiving personal business during company time.
Abusive behavior : There are many workplace where are so many managers or supervisors who use their power and position to mistreat the workers or disrespect them. Unfortunately, the situations are involved in discrimination,race,gender,etc. Often there is no legal protection against such an abusive behavior in the workplace.
Employee theft : According to recent study by Jack L.Hayes International, one out of every 40 workers in 2012 was caught stealing from their employer. Employee fraud is also on the uptick ,whether its checking ,tempering, not recording sales in order to skim etc.
The FBI recently reported that employee theft is the fasting growing crime in the U.S today.
Lying to employee : The bad way to lose the believe of their your employee is to lie them. Yet , workers do it all the time.One of out of every 10 employee report that their manager and supervisor had lied to them within the past year.

FINANCE :

Finance refers to the management of large amounts of money.
It is also known as ‘art of money management.’

Ethical Issues in Fin

Finance mangers are often confronted with ethical issues like:

Full disclosure and transparency.
Professional duty vs company demands.
Individual judge

Accuracy.
Timeliness.

Unethical Issues in Finance :

Following are some unethical issues of finance:

Delays in payments to vendors and dealers.
Delays in paying wages, interest to financiers, incentives and bonus to employees.
Opening of current accounts in different banks to avoid adjustments against loans by earlier banker.
Taking private finance from only those who are ready to do personal favours to finance department head.

REFERENCES:

VEDIO ABOUT BUSINESS ETHICS