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Business ethics and law - Essay Example

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The current business market in the United Kingdom has become a very competitive one. Companies are going to great extents in order to attract the customers to their services and products. This competition is very healthy for the generation of a profit making market that has got fair services for the consumers …
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Download file to see previous pages The current business market in the United Kingdom has become a very competitive one. Companies are going to great extents in order to attract the customers to their services and products. This competition is very healthy for the generation of a profit making market that has got fair services for the consumers The competitive nature of these markets also helps with the improvement of the quality of the services and the products that the different companies and organizations make available for their customers. It is the social responsibilities of these businesses to use the resources that are in their disposal and engage themselves in activities that will increase the generation of profits. However, these activities have got to stay within the laws that have been set by the government regarding the ethical conduct of the businesses. This paper will focus on this law and how they do help in the creation of a free and fair competitive market for all the businesses in the United Kingdom. Business ethics and the legal implications that accompany it have become one of the most important factors in the UK market today. These business ethics and laws have got a very important role to play in terms of controlling the conduct of the competition between these businesses. The laws that have been set solely focus on the growth of ethical elements in the markets in order to allow for a fair conduct of trade and business (Bantekas, 2004). These laws do cover the social responsibility and principles which govern the competitive markets for the businesses in order to create a smooth platform for the conduct of trade. This also serves as a means of protecting the consumers from extortion and cheating by these businesses which might seek to take advantage of them in the name of being competitive and trying to win them over. The social responsibility of these laws is to create an environment where there is there is balance in between the employees of the companies, the stakeholders and the customers. Each one of these three members is entitle to fair services in the business market regardless of the competition (Maloni & Brown, 2006). Observation of the business laws and ethical conducts when it comes to the operational activities is very important. Management of any business has got the responsibility of acting in ways which ethical in making the decisions on how to go about the operational activities of a company. The operational activities need to be considerate of the greater good of not only the organization but that of its employees as well (Trevio & Nelson, 2007). The managers have thus got the responsibility of watching out on how they behave towards the employees since that might impact their reaction either negatively or positively. One of the primary roles of the business laws in the UK is to enable the managers demonstrate the right type of behavior towards their employees especially when addressing them on how to go about the operational activities of the company. The managers have got to be keen not to overwork these employees in the name of making profits for the company (Moser, 2009). Business laws and ethics are always looking for ways through which competitive advantage can be created in the UK market (Hartman, 2008). Thus, the business ethics do come up with imaginations that have been collectively multifaceted. These imaginations in the market are complicated so as to enable them grow significantly with time in the businesses. The competition levels in the markets force most of the managers to make some very radical decisions regarding the company (Henry, 2012). All this is usually aimed at making the business more competitive in the market. However, some of these decisions made might create a conflict between the managers and the shareholders. This is because of issues arising from trust and honesty. The shareholders might think that the managers are making these decisions in order for ...Download file to see next pagesRead More
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