ROLE OF ETHICS IN VARIOUS MANAGEMENT DEPARTMENT

Ethical challenges in HR management:

1.Building a culture for organisation success:

An organisations ethical climate is very vital for the success of any organisation.

There are various reasons like a good ethical climate in a organisation helps in: 

• improving morale of employees,
• strengthening unity among employees,
• helps in creating smooth boundaries and calculated risk taking abilities of the employees.
• helps in promoting healthy competition among employees.

2.Employees discrimination:

A particular set of guidelines and principles has been evolved in every organisation to avoid any kind of discrimination related to caste,sex,religion,age,disability etc.
HR manager could go through this challenge for example he could face a situation like for the sake of institution should he discriminate a particular employee for the betterment of the organisation.

3.Safety and Health:

Organisation work can be very hectic and demanding.Health issues can arise in employees due to the workload. It is a responsibility of HR manager to check the workload on the employees and ensuring that the employees are getting proper rest with work.

UNETHICAL CHALLENGES IN HR MANAGEMENT

1.Abusive behavior:

Sometimes due to heavy workload employees could get irritated and could behave differently or rudely. As a HR manager it is their duty to control such kind of behavioral patterns so that it does not affect other employees.

2.Violating company internet policy:

Researchers have founded that a huge amount of money is wasted on unnecessary internet surfing .

Due to this there is wastage of company time as well as money.HR managers should have an eye on their employees and seeing that how are employees spending resources of the company.

3.Employee theft:

By a research done by Dr.William Adams it was founded that one out of every 80 employees was caught stealing from their employer.This can be a very serious issue for the HR managers to look after these kinds of deeds in the company.

THE ROLE OF ETHICS IN FINANCE

 

The finance industry is the backbone of the society,it plays a major impact on the society.It can cause a drastic change in the economy.Ethical dimensions and ethical violation  finance can be attributed to an inconsistency in the conceptual framework of modern financial-economic theory and the widespread use of financial transactions.

ETHICAL CHALLENGES IN FINANCE

 1.ACCURACY :
It is the duty of the financial manager of the company that all financial publications accurately and fairly reflect the financial conditions of the company. The financial manager of the company of the company is responsible for all the accounting errors and frauds. There are certain financial ethical guidelines that ever finance manager has to follow.To check that all the transactions are ethically taken care of.

2.TRANSPARENCY:
Transparency  means explaining financial information's clearly. Financial managers should not hide anything or give out any information to other shareholders of the company.
The company financial position is dependent upon the documents which the company has,it includes all the assets and liabilities. Every company has to submit periodic statements to the authorities,to make sure that all the financial transactions are done ethically without any misconduct.

3.INTEGRITY:
Employees,shareholders,customers,stakeholders should have trust upon the managers,they should have faith in managers.Managers should not allow prejudice,bias and conflicts of interest they should be ethical,without disclosing any personal data of the customers.The structure of certain stock-based issues such as manipulating with the stock could result in ethical issues.

UNETHICAL ISSUES IN FINANCE

• Falsely extending the payment dates of the creditors and vendors,dealers commission.
•  New opening of bank accounts in various banks to avoid loan interest rate by earlier banks.
• Taking loans from private investors at a higher interest rate to avoid tax.
• Cheating employees,with the promises of incentives,promotion or leaves.
• Quick release of payments to known or adjustment parties and delaying payments to orders.
• False promises to the customers and stakeholders.
• Taking private finance only from those who are ready to do personal favors to the finance department.
  
  with reference to John R.Boatright  

  ETHICAL CHALLENGES IN MARKETING

Ethics in marketing refers to the moral guidelines and principles that every organisation shoild consider it.Ever company has a particular marketing policies to guide their pricing advertising,research,and various other provisional and competitive strategies.

 

Here are some of the ethical issues in marketing:

• Deceptive marketing policies 
• Anti-competitive practices
• problems in advertising and marketing
• various delivery channels
• Adequate market research 
• Current market condition
• ethics in marketing and promotion

UNETHICAL ISSUES IN MARKETING

                               

In present scenario corporate trust has been on a lower side.Customers no longer have faith in big organisations.The corporate has loosen their trust due to various practices that affect the customers directly.Due to which the trust of customers goes down and down.

Some of the major unethical practices are:

• misleading advertisement with false claims
• emotional exploitation 
• contacting people without their knowledge
• misleading information's
• misinterpretation o services
• false promises