An increasing interest in Business Values
There are many reasons for Society’s general reassessment of its value’s and business part. A business ethics advisory council helps to encourage voluntary improvement of business conduct. In management, business value is an informal term that includes all forms of value that determine the health and well-being of the firm in the long run. Business Conduct sometimes called a code of ethics, is a management tool for setting out an organization’s values, responsibilities, and ethical obligations. Its stated purpose was to explore “some approaches to the development of ethical guidelines that might be useful to the business community” and to encourage businessmen. This council was not a group of businessmen for self-relation. This council issued a call for better self-regulation and pointed out six areas for Self-education, general understanding of ethical issues, compliance with the law, conflicts of interest, entertainment and gift expenses, Customer and Suppliers and social responsibilities.
Other results of Survey showed that although businessmen were alert to social responsibilities, they disagreed on what was the proper conduct in a specific situation. They recognized that there were no simple clear-cut answers.