Business ethic can be defined as moral code of conduct to the strategic and operational management of a business. It also as the critical, structures, examination of how people and institute should behave in the world of commerce. Moreover it is the study of proper business policies and practices regarding controversial issues such as corporate governance, discrimination, corporate social responsibility and fiduciary responsibility.
Oxymoron is a figure speech combining term that are usually contradictory of one another. For example 'same different'. Ethics and integrity still matter,even in today's business environment. In ethical behavior has always been practiced by the majority of business people.The true entrepreneur is able to empathize with the customer and know what the customer. Integrity is a vital part of the process. It is simply impossible to achieve long-term financial freedom without a strong sense of right or wrong. When working to generate the passive income you will need to succeed, you will find that it is vital to deliver on the promises you make to your customers. A happy customer will come back and bring their friends with them. A ripped off customer will at least not return and warn all of their friends about the business.
Q2 : Definition of corporate governance
The framework of rules and practices by which a board of directors ensures accountability, fairness and transparency in a company's relationship with it's all stakeholder such as customers, management, employees. The corporate governance comprises explicit and implicit contracts between company and the stakeholders for distribution of responsibilities, rights and rewards, procedures for reconciling the sometimes conflicting interests of stakeholders in accordance with their duties, privileges and roles, and procedures for proper supervision, control the information. It ensures organization in managed in a manner that fits the best interests of all.
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