Business Ethics PDF

# Business Ethics 1. Sole proprietorship - owned by a single individual it is relatively easy and convenient form of business. 2. Partnership - have less taxation burden and collective decisions and agreement must be reached 3. Corporation - its ownership is transferred through a sale or gifts of s...

# Business Ethics 1. Sole proprietorship - owned by a single individual it is relatively easy and convenient form of business. 2. Partnership - have less taxation burden and collective decisions and agreement must be reached 3. Corporation - its ownership is transferred through a sale or gifts of shares. 4. Nonprofit organizations - formed to serve public purpose rather than for financial gain it refers charitable institution. 5. Cooperatives - is a business owned controlled by all the members of the business. 6. Transparency - openness and willingness by the company to provide clear and timely information. 7. Fairness - decision made requires balancing the interest of the different stake holders. 8. Accountability - each decision maker in the corporation should assume complete responsibility to take initiative and answerable decisions. 9. Employee Conduct - conduct policy sets the duties and responsibilities of each employee must follow conditional employment. 10. Attendance and Time off - policies not only outline the employee responsibility to adhere to work schedule but also employees schedule. 11. Equal opportunity - opportunity laws and policies that promote fair treatment in the work place. 12. Finance and accounting - accounting policies deals with how money is handled in the company and how acquisitions and liabilities are recorded. 13. Non Competition - companies require employee to sign a non-complete agreement that limits employed activity. 14. Computer use - implement policies governing the use of computers and internet. 15. Good Corporate Governance - is the main factor that determines the integrity of the company ## Advantages of corporation - Extend for 50 years - Protects shareholders from personal liabilities and creditors - Can be private - Can be public - Less taxation - Capacity to hold properties ## Disadvantages of corporation - People with minor shares don't have enough say in the decision making - The ownership can be transferred through gifts or shares - Costly to incorporate ## Four common practices in the business organization - Employee conduct - Computer use - Equal opportunity - Non-competition ## Corporate Culture - Horizontal culture - Team oriented culture - Elite culture - Conventional culture ## Company's Code Basics - Mission - Values - Ethos - Objectives - Responsibilities ## Key elements - Introduction - Revision