GGSR

refers to knowing and
doing what is right, or knowing and refraining from what is wrong in the conduct of business, in the production of goods and services, in the performance inside the workplace, and its relationship with stakeholders.

is a subset of applied ethics that looks at moral principles and values applied in business.

is an enterprise that aims for a profit by
offering its customers' desired products and services.

COMPONENT OF BUSINESS ENVIRONMENT

COMPONENT OF INTERNAL ENVIRONMENT

COMPONENT OF EXTERNAL ENVIRONMENT

OTHER components of business environment

It refers to all the factors that influence its functioning within an organization. These variables are usually known to be controllable, i.e. certain variables may be changed or modified by the organization.

in relation to the availability, use and management of funds and all relevant factors that have an impact on the ability of an organization to execute its strategies

It refers to the factors of marketing capability in relation to the pricing,
promotion and delivery of goods or services and all related factors that affect the capacity and ability of a company to execute its strategies.

It refers to the factors of operational capability in relation to the development of goods and services, the use of material resources and all relevant factors that play a role in the ability and capacity of the to execute its strategies.

It refers to the factors of
personal capacity that contribute to the presence and usage of human capital and abilities and all relevant factors that have an impact on the willingness and ability of an organization to execute its strategies.

It refers to the capacity of general management in relation to the integration, alignment, and orientation of functional skills towards shared objectives and all relevant aspects that affect the ability of an organization to execute its strategies.

The external environment consists of all the variables that provide an organization with opportunities or threats as well. The external environment is made up of societal trends, demographic variables, the political system, technology, business attitudes, energy sources, raw materials and other resources.

Micro external factors have a huge influence organization's business operations. Micro factors, however, do not have the effect on all companies in the industry.

For any business, the primordial
concern is to retain, and to attract more and more
customers. This is so important in order to ensure its own long-term viability and business survival.

An integral part of the market environment is also the product factors such as demand, image, characteristics, utility, feature,
design, life cycle, price, promotion, distribution, differentiation and availability of goods or services substitutes.

This involves all those who promote the delivery of products from
manufacturing centers to different centers of
consumption.

The world has become a global
market. There is enormous competition in each country. There are other business organizations that produce similar goods and compete for market share and turnover.

is an important element in the micro-environment, i.e., those that supply the business with raw materials and parts and machines.

consists of societal forces that influence all other environments and is the broader, uncontrollable
Environment.

This consists of the culture, customs, and traditions of a given society where the company is doing its business. It is a significant factor that affects nearly all companies.

The political climate comprises factors that are relevant to public relations management and their impact on an organization's business.

The three components of the political environment are as follows:

is composed of macro-level trends
relevant to the areas of wealth creation and distribution that have an effect on the business.

is made up factors relating to the
government's planning, promotion and regulation of economic activities that have an impact on an organization's sector.

There are a variety of administrative controls that are implemented through the regulatory mechanism.

consists of factors that influence the business, such as those related to the technology applied and the materials and machines used in the products and commodities.

This environment corresponds with the composition and features of a place.

The Importance of Ethics in Business

One of the most
fundamental human needs is to be fair, truthful, and ethical.

A society respects an organization that is perceived to be motivated by
moral values even by those who may have no knowledge of how corporations or organizations
operate.

Employees respect and admire a company that is motivated by values.

The sum of a man's decisions over the course of his life determines his fate.

Organizations led by ethics and moral principles would be profitable in the long run, even though they appear to lose money in the short term.

When it comes to safeguarding society, ethics often significantly outperforms the law.

is the process of overseeing the
operations of a company, profit or non-governmental entity.

is a term used in business to describe the dynamics and variables that have an impact on a company's capacity to create and sustain profit.

the process of determining whether human actions, institutions, or laws are morally acceptable or unacceptable.

TWO KEY ELEMENTS OF MORAL REASONING

the foundations and processes of moral judgements.

investigates the guidelines for how people should live.

MORALITY CAME FROM THE LATIN WORD ___?

moralitas which means?

provides distinction between right (good) and improper (wrong), intentions, decisions, and acts known as morality.

Ethicists use three basic standards to determine if moral reasoning is sufficient

examines moral standards that ought to guide our behavior.

TWO LEVELS OF NORMATIVE ETHICS

examines moral concerns like hoarding of basic goods or exploitation of workers, as well as moral issues like business or medicine.

searches for more broad moral principle like “We ought to do whatever optimizes the overall enjoyment for the greatest number of people.”

Studying the nature and process of moral judgement.

refers to decisions or pursuits that are profitable to entrepreneurs or stockholders.

A certain amount of self-interest is required for a person or corporation to thrive.

The intention to make money out of business, transaction, or exchange.

the ultimate goal of business is to provide profit to stockholders.

is a branch of philosophy that deals with the study of what is right and wrong, good, and evil, just and unjust, and other ultimate questions of morality.

is a branch of philosophy that deals with the study of methods and principles of correcting reasoning.

a German philosopher maintain that logic is “forcefully proven” to be formal and systematic. He contends that formal logic, which should abstract from any knowledge content, should only address our capacity for comprehending our forms of cognition.

is a branch of philosophy that deals with the study of how people ought to behave, in other words, it deals with the comprehensive aspect of morality. Relative thereto is its relationship with

that deals with the study of methods and principles of correct reasoning, thus, it hinges on rational thought. This is because a person will act morally when they think morally. In concise analogy, to act morally, one must first establish moral rational justification, which clearly develops through logic.

is the scientific study of the mind and behavior. To put into perspective, while Psychology deals with the study of human behavior, Ethics on the other hand, is a study that exclusively focuses on how people ought to behave; clearly, psychology is not concerned with the morality of man's actions.

is a social science that deals with the study of society, human social behavior, social interaction patterns, and aspects of daily life related to culture.

an act is good on the ground that it is approved by the society,

it holds that there are unchanging moral principles that may used to determine moral dilemmas and that some behaviors are good or wrong regardless of their circumstances.

is the study of how to use scarce resources effectively and fairly in order to satisfy as many people's needs and wants as possible.

is based on well-founded norms of right and wrong that specify what humans ought to do, generally in terms of rights, duties, benefits to society, justice, or freedom.

is generally understood to be a system of regulations that are made by competent authority and enforced by social or political organizations to control conduct.

refers to a social-cultural system of prescribed values, beliefs, worldviews, holy books, holy sites, prophecies. religious ethics, or organizations.

is a statement, usually a corporate rule, that informs staff members of how they should conduct themselves while representing their employer, usually, it embodies company's values, sanctions, and obligations.

is a collection of values and guidelines that people, and organizations use to guide their decision-making and to discern between right and wrong.

is an ethical code that outlines the anticipated and accepted social behaviors in accordance with the customs and norms practiced by a society, a social class, or a social group.

is the collection of customary standards is the moral code of a person personal behavior in civilized society. It is a set of standards for educated behavior, whereas ethics or of a society.

is the act or process of gaining or conveying broad information, strengthening one's analytical and decision-making skills, and generally getting oneself or others intellectually ready for adulthood.

The application of general ethical principles to corporate activities.

According to Ross's ____ maintain that moral obligations are the subject of fundamental moral principles.

Don't break your word.

Repay the wrong you've caused someone else.

Give kindness back to those who have shown it to you.

Upset happiness or pleasure allocations that don't line up with merit.

Treat others well.

Develop your character and knowledge.

Hurt no one else.

is a scenario when an agent is subject to two or more competing moral obligations, none of which take precedence over the other.

is the capacity to perceive, understand, and uphold a variety of ethical concepts and values in accordance with the norms in a certain industry or context, in this case, business industry.

is a global, independent standards-setting body that aids in understanding and communicating the effects of businesses, governments, and other organizations on issues including climate change, human rights, and corruption.

seeks to create a just and sustainable future with the help of its almost 300 member enterprises worldwide.

were enacted by the United Nations in 2015 as a global call of action to eradicate poverty, safeguard the environment, and guarantee that by the year 2030, peace and prosperity will be experienced by everyone.

has the power to combat discrimination by educating staff about these concerns and fostering a supportive workplace environment. Understanding the disciplinary repercussions of discriminatory behavior is essential for all employees and staff of organization.

is a sort of favoritism that is extended to friends and family in a variety of spheres, including business, politics, academics, entertainment, sports, fitness, and other pursuits.

refers to an area or circumstance in which it is challenging to distinguish between right and wrong.

happens when management treats some employees better than others without good cause or clear-cut basis thereof.

refers to a person who, without authorization, divulges sensitive or secret information about a company, usually in connection with malfeasance misconduct.

CSR initiatives can benefit businesses in two ways, what are these?

refers to an organization, or a person, or a thing that takes part in a transaction but is not a principal amd has a smaller stake.

is a term used to describe financial misappropriation that enriches a person with authority or influence