bus ethics

• Responsibility


  Duty or obligation to satisfactorily perform or complete a task that one must fulfill, and which has a consequent penalty for failure
• Accountability


  Obligation to demonstrate that work has been conducted in compliance with agreed rules and standards or to report fairly and accurately on performance results
• Responsibilities and accountabilities of entrepreneurs to

  • Employees
  • Government
  • Creditors
  • Suppliers
• Entrepreneurs


  • Organise, manage and assume the risk of an enterprise
  • Should be aware of ethics and social standards and follow them
• Responsibilities and accountabilities of entrepreneurs to employees

  • Pay wages/salaries and taxes
  • Assignment of right jobs
  • Create and maintain an ergonomic workplace
  • Facilitate employees' compensation insurance
  • Support career development
  • Train and educate employees
  • Enforce anti-discrimination law
  • Respect human rights
  • Give rewards and benefits
  • Give security of employment
• Responsibilities and accountabilities of entrepreneurs to government

  • Compliance of government rules
  • Payment of taxes
  • Not to correct the government machinery
  • Not to seek political patronage by unfair means
  • Cooperate with government for economic development
• Creditor


  Entity (person or institution) that extends credit by giving another entity permission to borrow money intended to be repaid in the future
• Responsibilities and accountabilities of entrepreneurs to creditors

  • Obtain loans on reasonable conditions
  • Follow mortgage rules
  • Follow business ethics
  • Proper utilization of debt capital
  • Regular payment of installment and interest
• Mismatching of jobs with employee's qualification is discouraged
• Businesses must treat their injured employee with respect and file the claim without attempting to cause a delay in processing or attempt to deter the worker from filing a claim at all
• The entrepreneur should provide employment security to the employees of his organization, which will cause the sense of satisfaction among them and they will work with full interest, dedication, and commitment and will feel free from the apprehensions of losing a job and will have the higher degree of faith in the employer
• Loans are obtained for particular objectives. Hence, entrepreneurs should utilize the loan amount only for the desired objectives
• A supplier is an entity (person or institution) that extends credit by giving another entity permission to borrow money intended to be repaid in the future
• Mismatching of jobs with employee's qualification is encouraged
• Accountability


  The obligation to demonstrate that work has been conducted in compliance with agreed rules and standards or to report fairly and accurately on performance results vis-à-vis mandated roles and/or plans
• Responsibility


  The obligation of an individual or an organization to account for its activities, accepts responsibility for them, and to disclose the results in a transparent manner
• Entrepreneurs have a responsibility to pay their employees at least the minimum hourly wage in their locality
• Anti-discrimination law


  Employees cannot be disadvantaged, dismissed, or not given employment for any mentioned
• Entrepreneurs have a responsibility to reward employees fairly and attractively
• Entrepreneurs have a responsibility to comply with government rules, pay taxes, and not seek political patronage by unfair means
• Obtain loans on reasonable conditions


  Entrepreneurs should obtain loans on reasonable conditions
• Follow mortgage rules


  If the creditor has provided the secured loan on the mortgaged property, the entrepreneur should follow the rules of mortgaged property
• Follow business ethics


  Both the entrepreneurs and creditors should follow the business ethics in providing loans and in repayment of loans
• Proper utilization of debt capital


  Loans are obtained for particular objectives, so entrepreneurs should utilize the loan amount only for the desired objectives and not for unproductive activities
• Regular Payment of Installment and Interest


  The entrepreneurs should pay loan installments and interest regularly, according to repayment conditions
• Pay fair prices of goods at a reasonable time


  The entrepreneurs should pay reasonable prices for the materials purchased from the suppliers
• Inform about changes in market

  The entrepreneurs have the responsibility to provide regular information to the suppliers regarding changes happening in the demand of the commodities in domestic or in foreign markets
• Give guarantee of minimum price


  The entrepreneurs should give the guarantee of minimum prices to the suppliers so that they may feel assured about the certainty of the price
• Provide technical advice


  The entrepreneur has the responsibility to provide technical assistance to the suppliers for the production of a new and substitute or replaces supplies/commodities
• Inform suppliers of future developments

  The Entrepreneur should provide information about possible future development to the suppliers so that they will be aware of these circumstances
• Promote healthy competition


  The entrepreneur should not encourage unhealthily and hostile competitions among the suppliers, for the sake of obtaining goods from them at the minimum price, only healthy competition should be encouraged
• Along with earning profits


  It continues to fulfill its obligations to the society
• Ultimate objective of every enterprise

  The good of the people
• Business


  Must be run by the people through the people and for the people
• Entrepreneur


  • Takes risks with his or her own capital in order to sell and deliver products and services
  • Expends greater energy than the average business person in order to innovate
• Entrepreneur's obligation


  To pursue those policies, to make those decisions or to follow those lines of action which are desirable, in terms of the objectives and values of the society
• Entrepreneur


  Has to include his social obligations and social values as inputs into the decision and action process, along with organizational, economic, technological and other relevant values and variables
• Social responsibility


  The personal obligation of everyone as he acts for his own interests, to assume that the rights and legitimate interests of all others are not impugned
• Manager


  • Sees himself as an arbiter among the many interests of 'public' affected by the business, the stockholders, the employees, the suppliers, the general public and the consumers
  • It is his duty to divide the returns from the business equitably by providing a 'fair' return to the shareholders, 'fair' working conditions and pay for the employees or 'fair' prices to the suppliers and customers and to make the business, in general, an asset to the local community and the nation
• Most important social obligation of an entrepreneur

  To reconcile and balance the various conflicting interests in the best possible manner