Ethical Issues in Business Statistics



Ethical Issues in Business Statistics

Introduction

In complex global business environment of the 21st century, companies of all sizes face a range of ethical issues. Companies have a responsibility to develop codes of conduct and ethics that each member shall respect and put into action. Fundamental ethical issues include concepts such as trust and integrity, but the more complex issues include accommodate diversity, decision-making, governance and compliance. The most fundamental questions or essential ethical companies must face are integrity and trust. A basic understanding of integrity includes the idea of conducting its business with honesty and commitment to treat each customer fairly. When customers perceive that the company is displaying an unwavering commitment to ethical business practices, a high level of trust can develop between the business and the people who seek to serve.

The relationship of trust between you and your customers can be a key to the success of your particular company. An ethical response to diversity begins with the recruitment of a diverse workforce, requires equal opportunities in all training programs and is accomplished when each employee is able to enjoy a respectful work environment that values their contributions. Maximize the value of each contribution employees is a key element to the success of your business. Ethical decision-making processes should centre on protecting the rights of workers and customers, making sure all business transactions are fair, protect the common good and make sure individual values and beliefs of workers are protected.

Similarly, business decision making also requires purely statistical analysis to provide optimal decisions to their businesses. There are few guidelines regarding business decision making provided in Andrew and Claude (2001) where they particularly defined the limitations of using the non - owners data and search for significance and outliers. The report will be providing a brief overview of optimal guidelines for an ethical research and the ways through these ethical issues be addressed from Christian Worldview.

Background

According to Cortina (1994) when we talk about the relationship between ethics and economy, we have three expressions strongly linked: economic ethics, ethics business and business ethics. This ethic, whatever its name, refers to the entire field of relations on economics and ethics, especially ethical reflection on the systems economic, which currently have a special interest from scholars and managers. Hall (1984) says that the goal of a business activity is the satisfaction of human needs through the ...