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15 September 2011 · Article

Business Ethics in a Contracting Company

\r\n DEFINITION

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\r\n ‘Ethics’ means behaviour. It refers to a set of attitudes.

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\r\n WHY SHOULD BUSINESS MANAGERS STUDY ETHICS

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\r\n As Mr. John Hooker of Carnegie Mellon University points out, Management is concerned with how decisions affect the Company, while Ethics is concerned with decisions that affect everything. To make it more understandable, Management operates in the specialised context of a firm, while Ethics operates in the general context of the world.

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\r\n Management is therefore part of ethics. A Business Manager cannot make the right decisions without understanding management in particular as well as ethics in general. This is why Business Managers should realise the importance of, and study, ethics.

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\r\n Prepared by N.Balachandar, Head-Contract Administration & Management, Technip India Limited


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