SOCIAL ETHICS WITH BUSINESS

SOCIAL ETHICS WITH BUSINESS
In the current business scenario it is felt that to gain boost growth and maintain sustainability in the consumer market. An company need to make a or establish a pool of social ethics with the society.
Society in business is a factor which paddling the profit cycle of business. In 1980 or before 1990 it seen that business choose his own price for his product but now a days it is totally opposite now customer determine his own price.
Now a day’s many company use social ethics as a bullet to hit his particular customer segment such as Nokia, Tata Tea, and Times of India are its example.
Social ethics may be beneficial in both terms for business say internally and externally. According to classification both feature and advantage are different but within common objective (provide growth to the company)

External Ethics

External ethics are those ethics which are fulfilled by company outside the organization means the responsibility or duty which done by the company if favour of the society in which he is running his business activity with the motive of gaining profit with establishing prestige and brand reminder in the mind of customer that stuck at time when consumer making choice between the alternative product available in the market.

Advantage of External Social ethics

• Maintain link between the company and society

• Increase the prestige and value of the company in the market

• To certain level try to change the negative perception of people for company

• Can wide the customer segment

• Increase business profitability and growth

Internal Ethics

Internal ethics are those in which company fulfills his ethics within the firm or organization or in other word in this company firm work for the development of his employee or worker. Today many companies provide some time in office hours as entertainment hours to reduce stress level among its employee.
In this company work in the favour of the worker.

Advantage of Internal social ethics

Increase the belongingness between the firm and its employee

Increase the morale of employee

Work quality achieved
Reduce employee turnover ratio

Provide growth to the company

So at last in my opinion for an company it is very necessary to take help of social ethics to communicate with society with earning profit perspectives.



SatishDhuwan