Business Ethics of Nepalese Firms: Practices and Challenges
This presentation delves into the concept of business ethics in Nepalese firms, highlighting traditional practices, current scenarios, and the development of ethical standards. It discusses the importance of ethical business conduct, the impact of unethical environments, and examples of ethical companies in Nepal.
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Presentation Transcript
Presentation On Business Ethics Of Nepalese Firms Presented By: Sujita Thapa
Concept of business ethics O Business ethics refer to the moral, rules and belief that businessman follow while conducting business through the help of stakeholders. O Business ethics provide competitive advantage to the business firms. O It is a good business investment that generates trust and confidence between the parties.
Cont.. O Unethical business environment has negative impact on rights and safety of consumers and image of firm.
Traditional Nepalese business practices O Traditional business of Nepal promote favoritism and nepotism. O Friendship was regarded with high value, whether based on personal friendship, family friendship or school friendship. O A large portion of employees in company are family members relatives and friends. O Profit was one and only objectives of the firms.
Present scenario of business ethics in Nepal O Nepalese business firms have not completely adopt ethical business practices. O Most of the business organization are of small scale in Nepal and they lack awareness and understanding of business ethics. O Organization are slowly marching towards adoption of business ethics.
Development of business ethics O Business ethics should be based on culture of particular country. O Ethical perception are normally situational and vary with culture. O For example: If we are operating our business in Muslim country then our ethics should comply with the culture of that country.
Examples of ethical company of Nepal O Nepal telecom Working to build ICT center in schools of earthquake affected districts. It is supporting green movement. It had provided 8.5million to national cricket team.
Cont. O Ncell Education is the topmost priority of Ncell. Ncell has helped to establish digital library. It had made commitment to provide 1 billion over three years to earthquake victims as part of its CSR.
o Chaudhary Group It distributed free noodles during earthquake. It also maintaining greenery in different places of nepal.
Chaudhary Group had pledged support to 6 schools, which were badly damaged due to floods in Bardia earlier in 2014, in their rebuilding.
Examples Of Unethical Company Of Nepal O Garment companies: promote child labor O Sugar factories O Famous sweets (Gutpak) store of new road: It adopt unhygienic method of preparing sweets. It compromise about health of people.
Reasons for lack of ethical business practices in Nepal O Lack of proper policies, rules and regulations O Political instability O Lack of knowledge about CSR O Consumer negligence O Low net profit
Measures to prevent unethical activities O Formulating code of conduct in running the business and strictly following it. O Ethical reporting and auditing mechanism. O Controlling corruption in business firm. O Strictly implementing consumer protection laws. O Generating awareness in customers.
Conclusion O Nepalese business are slowly understanding the importance of business ethics and contributing towards the development of society. If proper rules and regulation are enacted and strictly implemented development of Nepal will pace up.
