Bus. Ethics Notes
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Business Ethics Acc. to Andrew Crane:- “Business ethics is the study of business situation, activities and decision wher issue of right or wrong are addressed.” Acc. to Raymond C. Baumhart:- “The Ethics of business is the ethics of responsibility. The business man must promise that he will not harm Knowingly.” Needs / Importance of business ethics 1. Stop Business malpractice. 2. Improve consumer confidence. 3. Survivel of Business. 4. Protecting Consumer rights. 5. Protecting employee, Share holder etc. 6. Develop good relationship between business and society. 7. Create good image or Business. 8. Smooth functioning of business. 9. Consumer Movements. 10. Impotance of labour. 11. Healthy Competition. Business Model Identification The "Harvard Business Review on Business Model Innovation" charts four basic tenets of a business model: how the company creates and delivers value to its customers, the ways in which the company will earn a profit, which key components will be utilized and which key processes the company will incorporate. Key components include staff and human resources, machinery and technology as well as branding efforts. Business operations such as manufacturing and training make up the business's key processes. Each business model differs depending on the organization's size, industry and expectations. a plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing. Revenue Model Identification A revenue model is a subset component of a business model. The revenue model focuses on answering the question of how the business will generate revenue and, ultimately, how the company will be profitable. The revenue model depends on the industry. For example, a website might employ a contextual advertising model, which means the business generates money by users clicking on third-party ads within the page content. A baseball stadium, on the other hand, may have a revenue model that includes raising money from ancillary goods such as team apparel and dining outlets. Social Entrepreneurship Social entrepreneurship is a broad and diverse practical social change movement that deploys innovative business skills and technologies to address the needs of those living in poverty. Social entrepreneurs are people or organizations that use economic and technological innovation to achieve social goals. They use entrepreneurial skills to create organizations that, instead of seeking profit, pursue a more just and humane society. Social entrepreneurship addresses essential human needs of the poor, such as those described by the UN Millennium Development Goals. Social Entrepreneur are Ambitious: Social entrepreneurs tackle major social issues, from increasing the college enrollment rate of low-income students to fighting poverty. They operate in all kinds of organizations: innovative nonprofits, social-purpose ventures, and hybrid organizations that mix elements of nonprofit and for-profit organizations. Mission driven: Generating social value —not wealth—is the central criterion of a successful social entrepreneur. While wealth creation may be part of the process, it is not an end in itself. Promoting systemic social change is the real objective. Strategic: Like business entrepreneurs, social entrepreneurs see and act upon what others miss: opportunities to improve systems, create solutions and invent new approaches that create social value. And like the best business entrepreneurs, social entrepreneurs are intensely focused and hard-driving in their pursuit of a social vision. Resourceful: Because social entrepreneurs operate within a social context rather than the business world, they have limited access to capital and traditional market support systems. As a result, social entrepreneurs must be skilled at mobilizing human, financial and political resources. Results oriented: Social entrepreneurs are driven to produce measurable returns. These results transform existing realities, open up new pathways for the marginalized and disadvantaged, and unlock society’s potential to effect social change. Corporate Social Responsibility (CSR) The company must act responsibly, and criteria for social responsibility must be adopted to contribute toward consolidating better companies not only in social terms – that is, companies which are more useful to society – but better companies in purely economic terms – that is, better quality, more efficient, more competitive companies. An inevitably broad concept of which we can say that it includes voluntary actions by companies aimed at dealing with workers’, consumers’, or investors or shareholders’ concerns: in short, the concerns of all citizens. An inevitably broad concept of which we can say that it includes voluntary actions by companies aimed at dealing with workers’, consumers’, or investors or shareholders’ concerns: in short, the concerns of all citizens.
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notes for bus. ethics
Transcript of Bus. Ethics Notes
Business EthicsAcc. to Andrew Crane:- Business ethics is the study of business situation, activities and decision wher issue of right or wrong are addressed.Acc. to Raymond C. Baumhart:- The Ethics of business is the ethics of responsibility. The business man must promise that he will not harm Knowingly.Needs / Importance of business ethics1. Stop Business malpractice.2. Improve consumer confidence.3. Survivel of Business.4. Protecting Consumer rights.5. Protecting employee, Share holder etc.6. Develop good relationship between business and society.7. Create good image or Business.8. Smooth functioning of business.9. Consumer Movements.10. Impotance of labour.11. Healthy Competition.Business Model Identification The "Harvard Business Review on Business Model Innovation" charts four basic tenets of a business model: how the company creates and delivers value to its customers, the ways in which the company will earn a profit, which key components will be utilized and which key processes the company will incorporate. Key components include staff and human resources, machinery and technology as well as branding efforts. Business operations such as manufacturing and training make up the business's key processes. Each business model differs depending on the organization's size, industry and expectations. a plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing.
Revenue Model Identification A revenue model is a subset component of a business model. The revenue model focuses on answering the question of how the business will generate revenue and, ultimately, how the company will be profitable. The revenue model depends on the industry. For example, a website might employ a contextual advertising model, which means the business generates money by users clicking on third-party ads within the page content. A baseball stadium, on the other hand, may have a revenue model that includes raising money from ancillary goods such as team apparel and dining outlets.
Social EntrepreneurshipSocial entrepreneurship is a broad and diverse practical social change movement that deploys innovative business skills and technologies to address the needs of those living in poverty. Social entrepreneurs are people or organizations that use economic and technological innovation to achieve social goals. They use entrepreneurial skills to create organizations that, instead of seeking profit, pursue a more just and humane society. Social entrepreneurship addresses essential human needs of the poor, such as those described by the UN Millennium Development Goals.Social Entrepreneur are Ambitious:Social entrepreneurs tackle major social issues, from increasing the college enrollment rate of low-income students to fighting poverty. They operate in all kinds of organizations: innovative nonprofits, social-purpose ventures, and hybrid organizations that mix elements of nonprofit and for-profit organizations. Mission driven:Generating social value not wealthis the central criterion of a successful social entrepreneur. While wealth creation may be part of the process, it is not an end in itself. Promoting systemic social change is the real objective. Strategic:Like business entrepreneurs, social entrepreneurs see and act upon what others miss: opportunities to improve systems, create solutions and invent new approaches that create social value. And like the best business entrepreneurs, social entrepreneurs are intensely focused and hard-driving in their pursuit of a social vision. Resourceful:Because social entrepreneurs operate within a social context rather than the business world, they have limited access to capital and traditional market support systems. As a result, social entrepreneurs must be skilled at mobilizing human, financial and political resources. Results oriented:Social entrepreneurs are driven to produce measurable returns. These results transform existing realities, open up new pathways for the marginalized and disadvantaged, and unlock societys potential to effect social change.Corporate Social Responsibility (CSR) The company must act responsibly, and criteria for social responsibility must be adopted to contribute toward consolidating better companies not only in social terms that is, companies which are more useful to society but better companies in purely economic terms that is, better quality, more efficient, more competitive companies.
An inevitably broad concept of which we can say that it includes voluntary actions by companies aimed at dealing with workers, consumers, or investors or shareholders concerns: in short, the concerns of all citizens.
An inevitably broad concept of which we can say that it includes voluntary actions by companies aimed at dealing with workers, consumers, or investors or shareholders concerns: in short, the concerns of all citizens.
