Business Ethics
Real estate
Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops,minerals or water.Immovable property of this nature and interest vested in this is (also) an item of real property (more generally) buildings or housing in general. Also,the business of real estate is the profession of buying, selling, or renting land, buildings or housing."
Ethics is the branch of philosophy dealing with values relating to human conduct, with respect to the rightness & wrongness of certain actions and to the goodness and badness of the motives and end of such actions.
Ethics in real estate business-
"People are being exploited in ways they wouldn't dream of."
Ethics in real estate is a multi faceted topic. One important factor in ethics is how a real estate firm deals with clients. This is an important one as it makes or breaks vital business relationships.
We keep talking of ethical real estate business. Is it a ‘code of ethics’ just a fancy
…show more content…
The Indian real estate market's total development activity was Rs.47,000 crores by June 2010 or 8.2% of nominal GDP of 2009-2010.The industry grew at a rate of 20% per annum in the five-year period prior to 2010 to become the second highest employment provider after agriculture. Increased income fuelled demand for residential, commercial, and retail real estate in India. Also, traditionally gold and property were preferred investment options for Indians, which multiplied the demand for real
Ethics is defined by as the “branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions
Verschoor, CMA, Curtis C. "Ethics: Do The Right Thing." Strategic Finance (2006). Retrieved on 18 September 2006 .
Trevino, L. K., & Nelson, K. A. (2011). Managing business ethics: Straight talk about how to do it right. New York: John Wiley.
Trevino, L., & Nelson, K. (2011). Managing business ethics - straight talk about how to
Ethics is a doing and learning experience which causes us as humans to keep an open mind to change. Generally, ethics ask us to live mindfully, to think how we act and even how we feel or do things, which can change the outcome. Sometimes we go down certain roads, which may be harder or make things more complicated or complex instead of making an easier option we just take the easier way out, usually the way that calls for
Investing in real estate gives the everyday person like you or me the opportunity to get into the game. It gives us a chance to build that wealth and status. To create passive income that compounds into freedom.
As in any other discipline that entails interaction with individuals, the aspect of ethics must include a conscious principle. To define ethics in its simplest form, it is known as the ability to distinguish right from wrong. In the movie, the sudden pressure from management drives the company’s salesmen to increase sales with no regards to ethics in order to maintain job security. All of the main characters had made their fair share of unethical decisions, out of desperation, to increase their sales and ultimately to keep their jobs. The degree of each decision can be left for viewers to determine the level of appropriateness based on their own values. Personally, although all characters have made unethical decisions, the most ethical salesman was Ricky Roma. Ri...
[1] Ethics is defined as “the code of moral principles and values that governs the behaviour of a person or a group with respect to what is right or wrong” (Samson and Daft, 2005, p.158)
When prices increase, the quantity decrease (Graph 1) and new firms enter the market in order to make economic profits. However this does not mean the real estate agents or brokers earn more money. On the contrary, the prices they charge may increase, but the number of houses each sell do not change (Goolsbee, 2005, Online). From this it is evident that the price of products in the real estate market is not affected by the entry of new firms.
Throughout history seasoned property investors have understood this and have capitalized on this basic philosophy. Over the years these developers have amassed many residential and commercial properties. Unlike the stock market, which can provide for a very good living, at certain times, real estate will always be valuable because there is a finite supply of real estate and history has proven that no matter how much the values go down it will eventually come back. In the stock market you can make a lot of money in a short period of time, however, many stocks simply die and all you have left is paper. When you invest in real estate you own a tangible asset, forever, which is your only down side. (Not so
Treviño, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right Fourth ed., Retrieved on July 30, 2010 from www.ecampus.phoenix.edu
Ethics is all about the right or wrong behavior in appropriate circumstances. It depends on certain assumption, such the right behavior of self-rule and the right behavior to life. Ethics are divided into two:
"According to Norman E. Bowie, "Ethics is two things. First, ethics refers to well based standards of right and wrong that prescribe what humans ought to do, usually In terms of rights, obligations, benefits to society, fairness, or specific virtues. Ethics, for example, refers to those standards that impose the reasonable obligations to refrain from rape, stealing, murder, assault, slander, and fr...
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
Ethics is a system of moral principles and a branch of philosophy which defines what is acceptable for both individuals and society. It is a philosophy that covers a whole range of things that have an importance in everyday situations. Ethics are vital in everyones lives, it includes human values, and how to have a good life, our rights and responsibilities, moral decisions what is right and wrong, good and bad. Moral principles affect how people make decisions and lead their lives (BBC, 2013). There are many different beliefs about were ethics come from. These consist of; God and Religion, human conscience, the example of good human beings and a huge desire for the best for people in each unique situation, and political power (BBC, 2013).