Business Law and Ethics Assignment Essay Example | Topics and Well Written Essays - 2250 words

Business Law and Ethics Assignment - Essay Example249-253, 2005). However, the modern market environment has altered the true essence and fundamental character of competition and has given a shape of cruel war and fight amongst rivalries where everybody existing in the global market wants to gain the competitive edge all over others. In addition, their prime motive had turned out to generate profit with acceleration at any cost and has become the leading cause of organisational effectiveness. This transmutation in the global economies and recession on a worldwide basis has become one of the dominant reasons of the changing perceptions and mindsets of the business (Maheshwari, pp. 30-31, 2005). As profit maximization has become their primary source of organisational effectiveness due to utter competition in the recent times, therefore, enterprises are moreover focusing and emphasising on business act reengineering and through innovative ideas and strategies developing their produc ts and services into an exclusive and inimitable one (Kotler & Armstrong, pp. 293- 300, 2008). Furthermore, business owners also view the profit as a valuable and ruling source of judgment, assessment, and analysis of the organisations effectiveness. While living in a society or a community, people comes under coercion to practise some norms and rules, which becomes their part of their inheritance, in the same manner, ethical principles or business ethics are also congenital in the world of commerce. In addition, these norms and set come under the definition with right and wrong and the people in the business community have to peruse a couple of elementary and full of life ethics of impartiality,...4-11, 2007). The performance, actions and the conduct of the people in the business community comes under dominance and supremacy by the morality and the values of the business ethics. One of the facets of the professional ethics, business ethics, or corporate ethics highlights the s ignificance of moral values, conducts, conventionalities, issues, and difficulties that may emerge and derive in a trading situation or humour (Jones & Parker & Bos, pp. 12-18, 2005)...