What are the 5 different ethical perspectives relevant to business?

Economic Ethics

This is a set of legal norms contained in the sources of law (normative legal acts) and determining the procedure for carrying out entrepreneurial activity. Business entities should know the list of their rights and obligations, andnormative documents regulating their activities. This information base will be needed to ensure the accurate reflection of transactions in accounting and compliance with the legality of all transactions.

Government Ethics

The economic goal of entrepreneurship is to mediate the personal interests of each enterprise employee, which ensures the integration of the team to achieve a common goal and creates the basis for moral management. The fact that the results of entrepreneurial activity in market conditionsare predetermined by the quality of a businessman’s work with the human material available to them demonstrates the importance of psychological factors. The psychology of business becomes the basis on which business success is built.

Business Ethics

Thereis a particular concept of business ethics and obligations employed all over the world. Business ethics directly contribute to increasing profits. In particular, it helps to maintain customer loyalty and trust. According to experts, the maintenance of oldpartners is five times cheaper than winning the favor of new ones. Therefore, all companies should be focused on the consumer in order to achieve it.

Ethics of Behavior

It is a sense of proportion that must be observed in personal and working relationships, and in particular the ability to feel the border that cannot be crossed in relationships with people. It is essential to take into account the spiritual world of others, to understand what can cause an adverse reaction in people. The most critical requirements for business etiquette are accuracy and purposefulness.

Business Communication

This is interaction in the field of official relations, the purpose of which is to solve specific tasks, achieve certain results, and optimize any activity. At the same time, each participant has its status – boss, subordinate, colleagues, partner. In addition, this is a unique form of communication that differs from everyday communication, behavior that requires restraining emotions. In addition to the positive content, it also has a negative aspect. In business contacts, it is imperative not only to say something but also to listen carefully. No less important are the rules related to the perception of the content heard. It depends on how familiar the interlocutor is with the rules, forms, and methods of such communications, and whether they will be able to achieve a goal. Partners should speak the same language (both literally and figuratively), understand each other, and have a shared social experience.

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Academic.Tips. (2022, October 28). What are the 5 different ethical perspectives relevant to business? https://academic.tips/question/what-are-the-5-different-ethical-perspectives-relevant-to-business/

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Academic.Tips. 2022. "What are the 5 different ethical perspectives relevant to business?" October 28, 2022. https://academic.tips/question/what-are-the-5-different-ethical-perspectives-relevant-to-business/.

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Academic.Tips. "What are the 5 different ethical perspectives relevant to business?" October 28, 2022. https://academic.tips/question/what-are-the-5-different-ethical-perspectives-relevant-to-business/.

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