Business Ethics: Principles and Stakeholder Analysis

Business Ethics

Introduction
Business ethics are related to moral principles and values which
should be followed by the organization. On the basis of these, the
firm will be able to know about that how they have to behave in the
environment so that they can achieve success. Corporate practices
should be based on code of conduct and along with this; companies
are bound to form some laws and regulations which are made by the
government (Crane and Matten, 2016). There are some of the
business areas where they have to perform their operations and
some of these are finance, human resource, and research as well as
so on. When any department perform their operations, then they
have to follow laws and policies so that smooth functioning can be
ensured in the market.

STAKEHOLDER ANALYSIS
Stakeholder can be any person, group and organization that have
some interest in the business. These people can affect activities of
organization and along with this they also get affected due to
operations and objectives of the company. There are some internal
and external stakeholders which may influence objectives of the
industries. Some of these internal stakeholders are employees,
managers, directors, investors and on the other hand suppliers,
customers, competitors, government are external bodies that may
affect performance of the business organization. When companies
make any policies and laws then all people who are associated with
the firm have to follow these regulations so that their overall
performance and growth can be improved in the country as compare
to other industries (Weiss, 2014).