Ethics around Business Law - Essay Example

ETHICS AROUND BUSINESS LAW Ethics around business law can be explained or ified into a broader horizon. Ethics around business law can be termed as business ethics and it can be defined as an ethics that examines ethical rules and principles within a commercial context. Business ethics should more over confer to economic, legal, social, human, and political context. Business law comes under a parent law which is widely referred as commercial law which governs both commerce and business. Commercial law primarily manages corporate contracts, hiring practices, sales, service and consumer goods.

There are sixteen different commercial laws out of which corporate law, employment law, labor law and tax law are the most important laws. Business ethics generally means the philosophy of business. This will determine the fundamental proposes of the company. If any company is intending to maximize the returns to its share holders then that would be called as unethical since it is depriving the interests and rights of some one else. Corporate social responsibility or CSR is widely debated regarding the rights and duties existing between and society.

Industrial espionage and hostile takeovers are the issues concerning different companies. Leadership issues, corporate contributions that too political contributions are being the worst debated ethical issues within business law. Introducing a new reform under the law reform is the crime like corporate manslaughter which is being opposed by the biggest business houses to make them self's more secure. Business law must be generally governed under the law and the justice should be equally distributed.

Corporate ethics policies are being misused as marketing instruments. Since business law does not come under the criminal law and any deviation is considered under the civil law and hence these deviations are not taken seriously. Business directly means providing goods and services and in its process it touches and enriches lives of the people it comes across and hence it has to be as sincere as it can and should try to do justice to the profession and the people it comes across. Business law's should be made as stringent as possible since many retailers and business houses do ford and try to exaggerate the prices and cheat the consumers there by making profits ten times over the product they sell.

Law governing the business law must be in safe hands and try to make promulgations which are the interest of the consumers. The primary intentions of any business should be to make quality products and give quality service and try to bring down the prices there by making profits on the huge sales which can be made by wining the confidence of the consumers. Hence ethics should be the primary authority governing the business law. Reference Bethany K. Laurence. Will My Business Make Money Retrieved 4 september 2006 < http://www.nolopress.com/article.

cfm/objectID/73FBAC1E-B3B2-432A-B186FE6E090326F5/111/228/296/ART/>. 2006. SBA. Writing the Plan. Retrieved 26 october 2006