Business Ethics in BangladeshAbstract:(http://www.ajouronline.com/index.php?journal=AJBM&page=article&op=view&path%5B%5D=73)Business ethics is the evaluation of business activities and behavior as right or wrong or other word critical, structured examination of how people & institutions should behave in the world of commerce. In todays business world it is a burning issue how the business can be ethical by maintaining the corporate social responsibilities. Corporate Social Responsibility or CSR is the most talking terminology in recent times among corporate world, commercial community and capitalistic industry, and its practices are being integrated into international business practices and hence are becoming one of the determining factors for market access. According to United Nations Industrial Development Organization, CSR is generally understood as being economic, environmental and social imperatives (Triple-Bottom-Line-Approach), while at the same time address the expectation of shareholders and stakeholders. The concept and practice of CSR is comparatively new strategy in formal sense for the corporate sector of Bangladesh. Currently, CSR initiative in Bangladesh is a greeting start, particularly where issues of rights and ethical behavior enticing the central to the lifeblood of an organization.

Business Ethics:(http://smallbusiness.chron.com/examples-ethical-issues-business-24464.html)

Ethics means different things to different people, but it generally boils down to a basic sense of societal right and wrong. Within the business context, it involves making decisions that align with that sense of right and wrong, as well as with the law.

Business ethics is a wider term that includes many other sub ethics that are relevant to the respective field. For example there is marketing ethics for marketing, ethics in HR for Human Resource Department and the like. Business ethics itself is a part of applied ethics; the latter takes care of ethical questions in the technical, social, legal and business ethics.Nowadays almost all organizations lay due emphasis on their responsibilities towards the society and the nature and they call it by different names like corporate social responsibility, corporate governance or social responsibility charter. Ethical standards in business are based on commonly accepted principles of behavior established by the expectations of society, the firm, the industry, and an individuals personal values.Primary and Important Sources of Business ethics:Ethics in general refers to a system of good and bad, moral and immoral, fair and unfair. It is a code of conduct that is supposed to align behaviors within an organization and the social framework. But the question that remains is, where and when did business ethics come into being? Primarily ethics in business is affected by the following sources: family, religion, culture, legal system, codes of conduct, and personal experience. It is for this reason we do not have uniform or completely similar standards across the globe. These factors exert influences to varying degrees on humans which ultimately get reflected in the ethics of the organization. For example, ethics followed by Grameen Phone Ltd. are different from those followed by Square Group or Unilever for that matter. Again ethical procedures vary across geographic boundaries.

Family:

A persons values is the source of their ethics, and it is their philosophy, spiritual or religious beliefs that usually help mold and shape those values, but most of all it is how a person is raised by his family that sets the foundation for his ethics in later life. Its the basic source of business ethics.

Religion: It is one of the oldest foundations of ethical standards. Religion wields varying influences across various sects of people. It is believed that ethics is a manifestation of the divine and so it draws a line between the good and the bad in the society. Depending upon the degree of religious influence we have different sects of people; we have sects, those who are referred to as orthodox or fundamentalists and those who are called as moderates. Needless to mention, religion exerts itself to a greater degree among the orthodox and to lesser extent in case of moderates. Fundamentally however all the religions operate on the principle of reciprocity towards ones fellow beings!

Culture:Culture is a pattern of behaviors and values that are transferred from one generation to another, those that are considered as ideal or within the acceptable limits. No wonder therefore that it is the culture that predominantly determines what is wrong and what is right. It is the culture that defines certain behavior as acceptable and others as unacceptable. Human civilization is fact has passed through various cultures, wherein the moral code was redrafted depending upon the epoch that was. What was immortal or unacceptable in certain culture became acceptable later on and vice versa. During the early years of human development where ones who were the strongest were the ones who survived! Violence, hostility and ferocity were thus the acceptable. Approximately10, 000 year ago when human civilization entered the settlement phase, hard work, patience and peace were seen as virtues and the earlier ones were considered otherwise. These values are still in practice by the managers of today. Still further, when human civilization witnessed the industrial revolution, the ethics of agrarian economy was replaced by the law pertaining to technology, property rights etc. Ever since a tussle has ensued between the values of the agrarian and the industrial economy!

Laws or Legal System of a Country: Laws are procedures and code of conduct that are laid down by the legal system of the state. They are meant to guide human behavior within the social fabric. The major problem with the law is that all the ethical expectations cannot be covered by the law and specially with ever changing outer environment the law and specially with ever changing outer environment the law keeps on changing but often fails to keep pace. In business, complying with the rule of law is taken as ethical behavior, but organizations often break laws by evading taxes, compromising on quality, service norms etc.

Business Codes of Conduct:

A business code of ethics is a series of established principles an organization uses when operating in business or society. Organizations often develop these codes to ensure that all individuals working in the company operate according to the same standards. Most individuals have an internal code of ethics or moral principles they follow in life. A situation one individual finds ethically reprehensible may not seem so to another individual. Using a code of ethics in business attempts to create a basic understanding of acceptable ethical

Factors Influencing Ethical Behavior:To encourage ethical behavior, executives, managers, and owners of firms must understand what influences behavior in the first place. The several factors that affect individuals behavior in business: the business environment, organizational factors, and an individuals personal moral philosophy.

The Business Environment: Almost daily, business managers face ethical dilemmas resulting from the pressure of the business environment. They are challenged to meet sales quotas, cut costs, increase efficiency, or overtake competitors. Managers and employees may sometimes think the only way to survive in the competitive world of business is by deception or cheating. In some instances, an organization may use someone elses successful work without the permission of the owner or originator. Conflict of interest is another common ethical problem stemming from the business environment. Often an individual has a chance to further selfish interests rather than the interests of the organization or society. To gain favor with people who make purchasing decisions for their companies, a seller may offer special favors or gifts, ranging from a metal to clothing to rips. Some offer cash-a kickback-for putting through a contract or placing orders with a company. Others offer bribes. Such illegal conduct will damage the organization in the long run. In order to limit unethical behavior, business firms must begin by expecting their employees to obey all laws and regulations. The international business environment presents further ethical dilemmas. Business people and government officials in different countries and cultures often operate according to different ethical standards.

The Organization:The organization itself also influences ethical behavior. Individuals often learn ethical or unethical behaviors by interacting with others in the organization. An employee who sees a superior or co-worker behaving unethically may follow suit. An organization can also use rewards to influence the behavior of its members. If an individual is rewarded or is not punished for behaving unethically, the behavior will probably be repeated. Likewise the threat of punishment and the lack of reward for unethical activities encourage ethical behavior. The severity of punishment also sends a message to other individuals who might be considering similar activities.

Individual Values: A persons own moral philosophy also influences his or her ethical behavior. A moral philosophy is the set of principles that dictate acceptable behavior. These principles are learned from family, friends, co-workers, and other social groups and through formal education. In developing a moral philosophy, individuals can follow two approaches:

The Humanistic Philosophy: Focuses on individual rights and values. Individuals and organizations adopting this philosophy would honor their moral duties to customers and workers. Individuals and organizations following the

Utilitarian Philosophy: seek the greatest good for the largest number of people.

Most Significant element of ethics in business:

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Honesty and Fairness:

Honesty refers to truthfulness, integrity, and trustworthiness; fairness is the quality of being just, equitable, and impartial.

Fraud:

When an individual engages in deceptive practices to advance his or her own interests over those of his or her organization or some other group, changes of fraud may result. Discrimination: Although a persons racial and sexual prejudices belong to the domain of individual ethics, racial and sexual discrimination in the workplace creates ethical issues within the business world.

Information Technology:

The final category of ethical issues relates to technology and the numerous advances made in Internet and other forms of electronic communications in the last few years.Ethical Relationships in Business:The ethical foundation of a company is important to the way a company is perceived by customers and peers alike. It is also a source of pride and self-respect for the company itself. While appropriate business ethics may be subjective, depending upon the context of your business, some basic principles of ethics will apply regardless of the type of business you operate. Ethical business relationships are less often a matter of legal compliance as they are of conscious self-governance by individuals and businesses.

Conflicts of Interest:Engaging in activities that are in direct conflict with the needs of your customers or clients, or engaging in personal activity that is in conflict with your business, are conflicts of interest. A conflict of interest is unethical and can result in legal repercussions and damage to the ethical foundation of the company. If, for example, you are in charge of hiring contractors for your business based on the lowest bidder and your best friend owns a contracting company, hiring him could be viewed as unethical, especially if he doesn't legitimately offer the lowest bid or best quality for the money. Giving your friends and family information that result in the recipient giving a lower bid could result in legal action.

Ethical Customer Relationships:Ethical relationships concerning your company's interaction with customers can have a direct impact on the success of your company. Ethical customer relationships should include honesty with customers, delivering a good product or service and backing the product or service. A company policy that encourages positive relationships with customers can help position your company as a trusted one. While unethical behavior, such as making false claims, may gain you immediate customers, this same behavior will lose those customers for you in the long run.

Characteristics of an Ethical Business:

Favoritism:Gift giving is sometimes a common practice in the business world. Branded gifts, designed to promote your company, can be expected. A coffee mug or ink pen, for instance, won't be frowned upon, especially when used for the purpose of advertising. The ethical question comes into play when a company provides a potential client or powerful government figure with an all-expense paid trip to Las Vegas or wines and dines a client with the intention of stealing the client away from a competitor. While the latter isn't illegal, and might well accomplish the objective, your company risks placing itself in a vulnerable position when dealing with others in the business world who have witnessed the unethical way in which your company gets its clients.

Ethical Employee Relationships:Ethical employee relationships are essential to the smooth operation of a business. This means keeping unhealthy levels of competition and personal relationships between employees out of the work place, while providing an environment where employees feel they are treated equally and fairly. Promoting ethical work relationships in the business can be encouraged through staff meetings that discuss issues such as gossip among employees and the consequences involved. A section in the handbook that details company policy regarding personal and romantic relationships among employees and interaction of supervisors with employees can help to keep relationships on a professional level, particularly between management and employees.

Nepotism:Nepotism occurs when a family member is shown special favors. While hiring a family member who is unqualified for a job is not illegal, it can open the door for perceived unethical behavior. Hiring a family member who is qualified for the job is also not a good idea and can open the door to resentment from other employees and a perception of favoritism, whether it exists, or not. Supervisors should request someone else do the interview when a family member is involved and should place family members in different departments.

Business Ethics- Practice in Bangladesh:In Bangladesh, though practice of Business ethics is still not so commendable in public sector and small companies, but business ethics has been an increasing concern among larger companies, at least since the 1990s. Major corporations increasingly fear the damage to their imageassociated with press revelations of unethical practices. The following information about the functions relating ethics and social responsibility of 2reputed companies of our country will give a brief idea about the practice of Business Ethics in Bangladesh.

ACI Limited:Advanced Chemical Industries (ACI) Limited is one of the leading conglomerates in Bangladesh, with a multinational heritage. They have a mission to achieve business excellence through quality by understanding, accepting, meeting and exceeding customerexpectations.TheyfollowInternationalStandardsonQualityManagementSystemtoensureconsistentqualityofproductsandservicestoachievecustomersatisfaction.They are focusing on improving the food habit of consumers through providing more ready to cook products and ready to eat as well. Their visions are to establish harmonious relationship with the community and promote greater environmental responsibility with in its sphere of influence. Their Values are Quality, Customer Focus, Fairness, Transparency, Continuous Improvement, and Innovation.

Ethical Approaches:Societal Development through Educational Programs:ACIs guiding principle in all its operations is to be a responsible corporate citizen. Thus Social Responsibility is a top priority for every individual atACI. Their Initiatives and significant contribution to societal development is Continued Medical Education (CME) for medical professionals and Childrens Education Programs. ACI hasalso undertaken an English Education program in Faridpur, one of the remotest districts of Bangladesh. This provides support to teach English Language to school going children. Doctors in Bangladesh who are not living in the metropolitan cities have very limited access to the Internet or any other sources of information. In order to keep them updated on the developments in the medical practices regularly, the CME program has been proven highly effective. ACI believes that by promoting education of children, they are contributing to societal development by shaping the minds of their future leaders.

Environment Friendly Practices:ACI has undertaken extensive programs to educate crop farmers all over rural Bangladesh in Good Agricultural Practices. They have a team of agricultural experts working at the field level all across the country, holding a range of technical trainings and field demonstrations. ACI also has similar education programs for animal and poultry farmers. These include, Technical trainings on diverse aspects of farming, and on application of new technologies,

Farmers group meeting for sharing of learning and experience, free visits to farms by veterinarians, toidentify problems and give advices toindividualfarmers. Most importantly, making the farmers aware of ways to protect the environment from hazardous uses of chemicals on their farms, allowing them the opportunity for informeddecision-making. ACI hopesto continueto playa leadingrole in promoting greater environmental responsibility among farmers in Bangladesh.

Unethical Approaches:ACI Company produces some products which do not work properly, like ACI Aerosol. It is mainly produced for killing mosquitoes, but thats not true. Most of the mosquitoes go away for sometimes but not killed. Sometimes some products like ACI Atta, ACI Maida, etc contains 1975 grams instead of 2000 grams but they fix their prices for 2kg of the products. These are unethical for their marketing practices.

Unilever Bangladesh Limited:Over the last four decades, Unilever Bangladesh has been constantly bringing new and worldclass products forthe Bangladeshipeople toremove thedailydrudgery oflife.

Over 90% of the countrys households use one or more of Unilever products. They aim to give everybody a little something to celebrate about themselves every day. They believe that to succeed in business, it is essential to maintain the highest standards of corporate behavior towards everyone they work with, the communities they touch, and the environment on which they have animpact.

Ethical Approaches:Effective Code of business principles:Their code of business principles describes the operational standards that everyone at Unilever follows, wherever they are in the world. It also supports their approach to governance and corporate responsibility. Code of business principles are-Standard of conduct, Obey the law, employees, consumers, shareholders, business partners, community involvement, public activities, the environment, innovation, competition, business integrity, conflict of interest, compliance, reporting, monitor.

Women Development and WomenEmpowerment:Unilever strongly believes in the importance of empowering women in Bangladesh, because the progress of any society will be constrained if a significant part of its population is neglected and excluded from the benefits of development. They believe, with economic and educational empowerment, women can become more vocal about their rights and become stronger in withstanding repression in any form. So they have established Fair & Lovely Foundation. The mission of this foundation is to encourage economic empowerment of Bangladeshi women through information and resources in the areas of Education, Career and Enterprise. It is this realization that has brought about the Fair & Lovely Foundation Scholarship Program. Under this scholarship scheme, women who have passed their HSC each receives a Taka 25,000scholarship to support her tertiary level education.

Unethical Approaches:Unilever produces Fair & lovely fairness cream, lotion, etc and they claim that skin color will be white after using this product. But that it is not true. There are no scientific values about whiteness. This is totally unethical performance in marketing activities of this company.Unethical practice in business in the perspective of Bangladesh:Unethical business practices actively or passively cause harm to people, animals or the environment. These may include child labor, forced labor, unfair wages, animal testing and dumping toxic waste into the environment. Some unethical business practices have even greater consequences including death due to negligence and even genocide. In the third world country like Bangladesh here these kinds of unethical practices are seen every now and then.

Other actions also constitute unethical business practices. For instance, attempting to create a monopoly on a market has unethical implications because without competition companies have no incentive to set fair prices or rates. Of course, companies commit other unethical acts despite regulations and legislation. Many companies refuse to raise their minimum wage rates even though minimum wage does not automatically equal a living wage. While many people think some of these unethical business practices do not happen in the modern world, many companies continue to use unethical business practices. In many cases, they only pay a fine but do not face further consequences once their actions become public. However, some face public protest if not criminal charges when ethics violations result in loss of life. In many cases, these companies pay settlements to families of victims to major violations such as these, but they may not suffer any loss in the bottom line.

In the country like Bangladesh where customers are the worst sufferer from unethical practices done by the individuals, partnership business or by the company everywhere. On the other hand, in Bangladesh retailers who usually mostly involve with such kinds of unethical behaviors. Customers are the most important people for any organization. They are the resource upon which the success of the business depends. Retailers have a large role in promoting sustainable consumption and production, occupying a unique position in the lifecycle chain of products between producers and consumers. They can potentially play a big role in furthering the sustainability of consumption and production.

Different Objectives of Retailers:

There are some retailers who can understand that success is rooted in building long-standing customer relationships. They nurture their best customers over time by learning and remembering individual preferences and interests, acquiring this information directly from customers through personal interactions. On the other hand, some retailer thinks short-term profit & initial huge sales increasing.Ethics in the Retail Buying Environment:

Today most of the Retailers have realized the advantages of reflecting an ethical sense in business operations. Retailers are trying to ensure that their employees behave ethically. Though there are many laws influencing the business environment of the retailer, there are many more aspects that come under the purview of ethics. These aspects concern the merchandise buying and selling practices in the firm. Retailers also need to be socially responsible and environmentally concerned. They often undertake activities that are beneficial to the society. Retailers are also taking measures for waste reduction, trying to recycle the materials used and are switching over to environment friendly packaging materials. Legislation governs the retail firm's operations and relations with its channel partners. Its relations with suppliers, customers, competitors and employees are governed by appropriate laws. Legal restrictions are imposed on practices concerning pricing, product, promotion, distribution, trademarks and HR policies.

Monopolistic Competition:

Monopolistic competition is a market structure characterized by a large number of relatively small firms. While the goods produced by the firms in the industry are similar, slight differences often exist. As such, firms operating in monopolistic competition are extremely competitive but each has a small degree of market control.

The real world is widely populated by monopolistic competition. Perhaps half of the economy's total production comes from monopolistically competitive firms. The best examples of monopolistic competition come from retail trade including restaurants, clothing stores, and convenience stores.Short-Run Production:

The analysis of short-run production by a monopolistically competitive firm provides insight into market supply. The key assumption is that a monopolistically competitive firm, like any other firm, is motivated by profit maximization. The firm chooses to produce the quantity of output that generates the highest possible level of profit, given price, market demand, cost conditions, production technology, etc.

To protect from all these unethical behaviors customers should do the following:

To determine unethical retailer practices.

To find those retailers who do it most.

To find out which types of product purchase faces these practices the most relevant.

To determine the perception of customer towards this practices and whether it differs from product to product or service to service.

To have a comprehensive idea about what sort of unethical behaviors that Bangladeshi consumers face each and every time that are shown below with the help of a diagram:

Approach:

Figure: Graphical Model of Unethical Retailer Behavior

What is Ethical Audit

An ethical audit is a thorough formal examination of the labor practices of a particular workplace or company. It is a verifiable process to understand, measure, report on, and help improve an organizations social and environmental performance. Ethical audits help improve an organizations social and environmental performance. Storing and reporting on ethical audit data is probably one of the biggest challenges faced by many businesses. Audits are designed to dig deep into company records to ensure reliability and accuracy in areas like accounting systems, financial reporting and legal compliance. Audits generally deal with quantitative, easily measurable data. Ethical issues, on the other hand, are more often qualitative or subjective in nature. A number of qualitative research techniques make an ethical audit possible, but an ethical audit still necessarily functions differently from any kind of financial audit. Considering multiple perspectives to gain a big-picture understanding of a company's commitment to ethics is the key to an ethical audit.

Code of ethicsA code of ethics is a formal ethical stance that is highly recommended to guide corporate governance. In Multi National Corporations (MNC) as well as local company regard a code of ethics to be a very important element of business conduct given that the code of ethics is one of the pillars of success in the corporations. However believing in the code is vital in order to achieve the success of good governance practices. It is said that It [the code of ethics] is a pillar of success for MNC and any local company and is a long term investment. You have to believe it, treat it as a culture and that the practice has to start from the chairman of the company and go down to the country head. The code of ethics is important to guide ethical behavior among the employees. In order to remind the employees and to inculcate the importance of the organizations ethical values in the mindset of every employee in the organization, a declaration such as this needs to be adhered to.

Ethical audit in Malaysia:

Auditors need to report on any violation against the code of ethics. Any wrongdoing, which violates the code of ethics, must be notified to the authority and also the employees. Auditors, especially the Internal Auditor, must work together with the management to improve the code of ethics. Violations regarding wrongdoing must be notified to the company community. This would keep the organization vigilant of their conduct from top management to the bottom line of staff. Such effort as perceived by majority of the respondents would direct corporations to be more accountable and transparent. Here we provide an example of Sedex (Malaysia), how it maintains its ethical audit. By offering a sophisticatedIT solution Sedex can support companies whowish to maintain and report on ethical data. By enabling suppliers to control their audit data Sedex can reduce duplication and ease the burden on suppliers facing multiple audits. The Sedex system allows members to upload all social audit types and is flexible to suit all members programmers.

Audit and Supplier:

Sedex allows suppliers to take responsibility for their own workplace standards. Suppliers can commission and upload all types of ethical audits to Sedex and can also demonstrate improvements by actioning and recording corrective actions. These corrective actions are then independently verified on the system by the original auditor. Each supplier has control over his own data and can choose which customers can view this information. Used correctly, Sedex allows a supplier share one audit with multiple customers.Audit and Buyer:

Sedex enables members at the middle and top of the supply chain to directly involve suppliers in their own audit and improvement activity. The purchasing members can review and summarize this data easily, giving them more time to work with their suppliers on improvement actions. By allowing suppliersto share the same data with many customers, and enabling customers to easily manage this information, Sedex helps reduce the need for multiple audits, allowing all parties to concentrate on making improvements.

Ethical Audit in Bangladesh:

Bangladesh is continuing its fight against corruption applying different mechanism of which audit is the best common practice showing visible progress. Specifically Bangladesh does not have experience in the name of Corruption audit /fraud audit or audit of money laundering but in a passive way all these three areas are being covered under audit activities over the years. Supreme Audit Institution of Bangladesh is officially known as Office of the Comptroller and Auditor General (OCAG). Articles 127-132 of the Constitution provide for the appointment, power, and functions of the CAG. Because of its independent status guaranteed by the constitution and its reporting relationship to Parliament, SAI can play an effective role in enhancing financial discipline and promoting accountability and transparency in the government.

In reality the standards, code in some specific documents published by either OCAG or other bodies are usually followed as ethical standards indirectly which are followed while performing audit of different types of entities.

This are-

Generally Accepted Auditing Standards (GAAS);

Bangladesh Standards on Auditing (BSA);

Government Auditing Standards (GAS);

Code of Ethics for the Government Auditors

SAI Bangladesh, having its legal basis of work on the Constitution, does exercise its function applying different guidelines and mechanisms of them most quotable are Audit Code, Code of Ethics, Government Auditing Standards, Government Accounting Standards, Bangladesh Standards on Auditing, ASOAI and INTOSAI guidelines, and last but not the least-application of ISSAIs.

The main three types of audit being done are-

1. Compliance audit;

2. Financial audit;

3. Regulatory audit.

SAI Bangladesh; activities against Corruption, Fraud and Money Laundering:

Regarding the question of corruption, accountability has to do with the fact that for proper observance of rules and regulations, those administering the rules must be held responsible and accountable for their actions. If this is can be treated as a basis, on behalf of the principal SAI Bangladesh is active in keeping the budget recipients accountable for spending public money. This function is done by SAI in two ways-

Pre auditing;

Post auditing.

In general the overall functions are somehow linked with activities against corruption and to some extent fraud are identified as a type of corruption. Analysis:

Malaysia business organization are focusing on ethical audit to reduce wrongdoing and maintain workplace standard. It also helps to reduce the requirement of multiple audits. Bangladesh business companies are giving more emphasis on different organizations accounting audit. There is no specific audit in the name of Ethical audit, Fraud audit or Audit of Money Laundering. In these circumstances such particular audit emphasis can be introduced in Supreme Audit Institutions in Bangladesh. What is Ethical Training

Ethics training is helpful for encouraging appropriate behavior, setting expectations, demonstrating the organization's commitment, and informing employees of laws or regulatory principles that may not be common knowledge. The purpose of Ethics Training is "to enable employees to identify and deal with ethical problems developing their moral intuitions, which are implicit in everyday choices and actions". At the same time, ethics training activities aim "to enable all organizational members to understand, share and apply the values stated in the code of ethics". Training in Ethics helps the members of an organization judge the moral legitimacy of their decisions, enabling them to apply moral principles and values in business decision-making. At the same time, ethics training fosters the employees' agreement and compliance with the organizations ethical vision representing a mutually-acceptable balance between different stakeholders. Therefore, implementing ethics training does not only mean informing employees about choices made by the management of the company, but also putting each individual corporate member in a position to understand, interiorize and contribute to the corporate mission achievement through a conscious orientation of their own choices and everyday behavior.

Workplace ethics training is highly recommended for fostering a trustworthy working environment. Many employees have a general sense of right and wrong, but may not understand the legal intricacies of their business enough to identify and not engage in unethical activities. Additionally, there is sometimes confusion about the often-subtle differences between illegal and unethical behavior. Proper training helps keep each employee informed, while hopefully preventing errors in judgement that cast a negative light on the company.

Ethics Training Objectives:

Describe the purpose of our Code of Business Conduct.

Identify a suggested framework for ethical decision-making.

Describe our standards for interacting with one another in the workplace.

Describe our standards for protecting organization assets.

Identify examples of conflicts of interest we seek to avoid.

Describe our standards for dealing with customers and competitors.

Ethical Training in Malaysia:

The National Business Ethics Survey produced by Ethics Resource Center (2011) has identified that ethical misconduct reports have been on the rise. High number of misconduct report is suggesting that company level ethics programs and training are not being conducted successfully, if any in the first place. The lack of measurability lack of business ethics levels and its improvements may be a signal for Malaysian Oil and Gas organizations to reassess their approach to this challenge, which if not handled successfully, can be detrimental to profits, growth and most importantly, reputation. Potential business partners would shy away from investing in Malaysian Oil and Gas projects if the related organizations have histories of public scandals and ethical misconduct issues. Ethically bounded culture and practices must be imprinted within conduct of every the employee in the industry before permeating through to policies, standard procedures and decision-making. In order for this to happen, ethical training must take place. Furthermore, there exist arguments which question the impact of the training on ethics on employees and organizations. Will training alone solve ethical issues in organizations? Kavathatzopoulos (2003) argues that employees will need to possess the ability to apply the learned values from the ethical training in order to deal with real life dilemmas and problems in their jobs or professions. Dolezalek (2003) continue to argue that attention has been given to ethics training but there has been lack of study in ascertaining the actual results of such training. Auditors and ethics consultant tend to solely focus on whether organizations have ethics training program in place, but have less focus on measuring the impact, if any, that these training programs have on the employees behavior and morale. Having in-house an ethics policy and an enforced business code of conducts alone are also insufficient to effectively address the issue of ethical misconduct. In fact, most of the organizations with such ethical misconduct are large organizations which already have such code of conducts and ethics policy in place. What makes a difference is how much ethics awareness and its enforcement manages to permeate corporate culture as a result of these policies and its training.

The study revealed physical ethical training programmed in their corporations. Generally, the program is conducted on entry point, where every new staff member is given training relating to ethical conflict to guide them to deal with ethical problems or issues in the future. Some of the staff such as the management manager and the engineer is given training, known as the management attachment program, where they are trained from six to twelve months. This attachment program nurtures them to be ethical managers and be better in internal control. For example, a respondent claimed that an induction course is the initial stage where the corporate employees were introduced to the ethical stance practiced in the corporation. An awareness of corporate values is suggested by the respondents as to be made a priority during the induction training program. In addition, one of the respondents voiced that his company provides every new recruit with a set of the code of ethics during the induction program. The aim of the session is to instill ethical behavior in newcomers to the company and give advance knowledge to the new recruits of the corporations expectation concerning good governance practice in the company. In addition, the study also found virtual ethical training as mode to enhance corporate governance practices among the corporations selected. Virtual ethical training is a web based training program that is established by corporations for the employee in dealing with ethical matters. Virtual ethical training is a form of technology tool established by the respondent to translate problem into solution.

The DCUInstitute of Ethics experts offer assistance in designing and delivering a wide range of ethics training activities that will provide participants with a set of "ethical capabilities" and generate the following organizational benefits:

With regard to employees in general: Enhancement of their capability to identify and analyze ethical dilemmas (Awareness-Raising Training);

With regard to decision-makers: Enhancement of their skills to interpret and apply corporate values in their specific, everyday decisions and in their relationships with the organizational stakeholders (Function-specific Ethical Training);

With regard to the organization as a whole:

Strengthening the communication of the corporate values and promoting a shared ethics culture within the organization, and

Facilitating the implementation of sustainability and Corporate Social Responsibility tools (e.g. code of ethics; social and ethical accounting; sustainability reporting; internal ethical auditing; ethics committee, etc.);

Ethical Training in Bangladesh:

The training programs offered by the ICAB during students prequalification period appear to be inadequate. The ICAB lacks capacity for providing training in line with the IFAC-proposed International Education Standards for Professional Accountants. Students are not receiving adequate development in technical and functional skills, organizational and business management skills, interpersonal and communication skills, and skills in forming professional judgments. In addition to lacking detailed knowledge in the practical aspects ofIAS and ISA, many instructors in ICAB-administered prequalification classes lack adequate knowledge of the IFAC Code of Ethics for Professional Accountants. In fact, professional ethics for accountants is not taught in prequalification educational programs, as required by the proposed International Education Standards. The ICAB-developed training manuals for the qualifying examinations do not include recent developments in the many areas of accounting and auditing. Out-of-date materials are not useful to students. Improve the professional education and training arrangement of ICAB. The ICAB should revamp instruction manuals to make them compatible with internationally comparable learning materials for trainee accountants and auditors. Current global developments in accounting and auditing education and training must be reflected in the training curriculum of ICAB. Business ethics should be taught extensively as a separate subject. The ICAB should employ trained instructors with adequate knowledge of the practical dimensions of IAS and ISA. Arrangements should be made to facilitate the development of in-house training facilities in audit firms.

Analysis:

Far too many consumers think of business ethics training as the ultimate oxymoron. Business has a reputation for being amoral and without ethics entirely, and nothing could be farther from the truth. The standard for ethics in the business and corporate world had changed and the training is much more complex. Business ethics training is, or should be, mandatory for any up and coming business executive, which is the reason why there are sites on the Internet that now offer courses on the subject of ethics.

In Bangladesh ethical training does not follow like Malaysia. In Malaysia the employer provide different types of ethical training like workplace ethical training, communication ethical training, accounting and auditing ethical training etc. But in Bangladesh only accounting and auditing ethical training is follow. Thats why we find different problems in workplaces like gender biasness, sexual harassment, discrimination between employees etc. Virtual ethical training program is also unknown to the organizations of Bangladesh which is one of the most important issues. I think ethical training is very important for any kind of multinational company as well as local company. Business ethics practices:

Environment Friendly Practices:Alsocalled"ecofriendly,"itreferstoanyproductorservicethatisnotharmfultotheatmosphere Italsoimpliesthatthesameprecautionsweretakeninthemanufacturingofthe products It is saidofaprocessorproductthatisnotdestructivetotheenvironment.

Environment Friendly Practices in BD:Our business organizations have undertaken extensive programs to educate crop farmers all over rural Bangladesh in Good Agricultural Practices. Some of them have a team of agricultural experts working at the field level all across the country, holding a range of technical trainings and field demonstrations. Some of the companies also have similar education programs for animal and poultry farmers. These include, Technical trainings on diverse aspects of farming, and on application of new technologies, Farmers group meeting for sharing of learning and experience, Free visits to farms by veterinarians, toidentify problems and give advices toindividualfarmers. Most importantly, making the farmers aware of ways to protect the environment from hazardous uses of chemicals on their farms, allowing them the opportunity for informeddecision-making. Environment Friendly Practices in Malaysia: Malaysian business organizations recognize the impact and implications that businesses have on the environment. Therefore as an integral part of their business strategy and operating methods, they are committed to reducing the environmental impact of our operations. One of the energy saving initiatives in operations taken by many companies is includes the delivery of letters by bicycle. As of 2011, this minimizes the impact of carbon monoxide pollution in the city. They are also dedicated to producing environmental friendly products and reduce the unnecessary usage of non-recyclable materials. For a start, their parcel boxes are no longer made of plastic but instead are made of recyclable materials. Those who are production companies, they encourage their staff to be fully responsible in saving the energy by switching off the lights, as well as electrical and electronic devices when not in use and during the lunch break. A shared portal system used by various companies has also been established as a platform for staff to communicate internally which helps the company to reduce the consumption of paper.

Comparison: while BD business organization are focusing on rural environment development factors like educating the farmers, giving them training, group discussion & learning, Malaysian business companies are giving more emphasis on urban environment factors that includes use of eco friendly vehicles, producing eco friendly products, less use of non-recyclable materials, internal communication to save the consumption of paper. Women Development and WomenEmpowerment:Empowerment refers to increasing the spiritual, political, social or economic strength of individuals and communities. It often involves the empowered developing confidence in their own capacities.

Woman Empowermentis probably the totality of the following or similar capabilities:

*Having decision-making power of their own* Having access to information and resources for taking proper decision* Having a range of options from which you can make choices (not just yes/no, either/or.)* Ability to exerciseassertiveness in collective decision making* Havingpositive thinking on the ability to make change* Ability to learn skills for improving one's personal or group power.* Ability to change others perceptions by democratic means.* Involving in the growth process and changes that is never ending and self-initiated* Increasing one's positive self-image and overcoming stigma

Woman empowerment in Bangladesh:

Our business companies strongly believes in the importance of empowering women in Bangladesh, because the progress of any society will be constrained if a significant part of its population is neglected and excluded from the benefits of development. They believe, with economic and educational empowerment, women can become more vocal about their rights and become stronger in withstanding repression in any form. So they have established a foundation with the help of government. The mission of this foundation is to encourage economic empowerment of Bangladeshi women through information and resources in the areas of Education, Career and Enterprise. Under these program women who have passed their HSC each receives a Taka 20,000 scholarship to support her tertiary level education.Women empowerment in Malaysia:

Empowering women makes sense for Malaysian companies business because womens inclusion in the economic cycle has a magnifying impact on growth and the health and progress of their families and communities. The discrimination and disadvantage encountered by women hinder economic growth and represent a waste of talent and ability.Their targets to increase agricultural yields and secure their supplies, for example, can be better achieved if women receive help, skills and opportunities more equally. They recognize that there is a potential ripple effect from womens empowerment initiatives that benefits the wider community. The impact of economically empowering women has a transforming effect on lifting families out of poverty. To accomplish their commitments, they will provide financial literacy and job skills training to women smallholder farmers and small-scale distributors. An example of the work they are doing is their public private partnership with local companies, which we signed in January 2013.The program is set to benefit 40000 farmers many of whom are women - in 32 farming villages and 44 schools and colleges. Women will be involved in the entire program and prioritized where appropriate. With the work on improving access to primary education, this program has the potential to benefit 24,000 women. Comparison: while Bangladeshi companies tries to give more financial aid and scholarship to empowerment of women, Malaysian business organizations focus on improving the skills of the female workers via training as well as giving them more responsibility to lead, to empower themselves.Durability

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