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

Business Law and Ethics Assignment - Essay Example 249-253, 2005). However, the modern market environment has altered the true essence and fundamental nature 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 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 shifting 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 maximisation 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 process reengineering and through innovative ideas and strategies developing their products 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 powerful source of judgment, assessment, and analysis of the organisation’s effectiveness. While living in a society or a community, people comes under coercion to follow 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 values come under the definition with right and wrong and the people in the business community have to peruse a couple of elementary and vital 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 significance of moral values, conducts, conventionalities, issue s, and difficulties that may emerge and derive in a trading situation or climate (Jones & Parker & Bos, pp. 12-18, 2005)...