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IMPACT OF GOVRNMENT POLICIES AND LAWS ON ETHICS Sunil Kumar(26) Ashish mishra(001) Navdeep goyal(037)

Ethics Ethics are the set of moral principles that guide a person's behavior.It is the study about what is wrong and what is right what is good, and what is bad in terms of human behavior.

Characteristic of ethics1.Right 2.Equitable3.Good4.Proper5.Fair 6.just

Why it is so important

It is our means of deciding a course of action. Without it, our actions would be random and aimless. There would be no way to work towards a goal because there would be no way to pick between a limitless number of goals. Even with an ethical standard, we may be unable to pursue our goals with the possibility of success.

Nature of ethics in business Mainly two types of nature

Overt

2. Covert

What is law

Ethics vs. laws

Government Laws go through a process to get approved, written into law, and then are enforcedEthics are like rules of conduct.

Some of the acts which seek toensure fair business practices in our country are the followings:

The Foreign Exchange Regulation Act, 1973, now replaced by FEMA.

The Companies Act, 1956.The Monopolies and Restrictive Trade Practices Act, 1969.

The consumer Protection Act, 1986.

The Environment Protection Act, 1986.

What is government policyA government policy statement is a declaration of a government's political activities, plans and intentions for future.A policy is typically described as a principle or rule to guide decisions and achieve rational outcome.They are announced by the head of government or a minister of the parliament

Types of govt. policy

Role of government in business ethics LegislativeSupervisoryIncentivizingBusiness hold responsibility

Unethical by public officials

Theft & Fraud by Public OfficialsImproper Use of Government Propertybribery & Influence PeddlingConflict of Interest & Self-dealingDivulging Confidential InformationImproper Conduct Post-Employment

Impact of govt. policies on business ethics AdvertisingEmployment and laborEnvironmentalPrivacySafety and health

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