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Students Perception towards Ethics in Business:
A Study on Business Students of Bangladesh

Submitted To:
Fatema Tuz Zohra
Lecturer
Department of Accounting & Information Systems
University of Dhaka
Submitted By:
Mohammed Moin Uddin Reza
ID No: 16-104
Section: B
Batch: 16th
Date of Submission: 20 February, 2014
Letter of Transmittal
Date: 20th February, 2014
Fatema Tuz Zohra
Lecturer
Department of Accounting and Information Systems
Faculty of Business Studies
University of Dhaka
Subject: Submission of Study Paper on Students Perception Towards Ethics in Business:
A Study on Business Students of Bangladesh
Dear Madam,
It is my great indulgence and pleasure to submit my Report on Students Perception Towards
Ethics in Business: A Study on Business Students of Bangladesh. The submission of this
thesis report is a compulsory part for the fulfillment of my BBA Program at University of Dhaka.
This report will focus on the overall perception on Business Ethics that our present business
students belong. In this paper, there will also be a comparative analysis of the present Ethical
situation prevailing in the business and how the present business students who will be the future
business leaders perceive the present business peoples acts in respect of ethical viewpoint. Later
some recommendations will also be shown for the improvement of ethical practices in our
country.
I do hope that such Report depicting the observations on related areas and views of mine will
receive due consideration and proper evaluation from your end.
Sincerely yours,
(Mohammed Moin Uddin Reza)

ID: 16-104 ; Batch : 16 ; Section:B
Declaration
I, Mohammed Moin Uddin Reza, hereby declare that this Paper, submitted in fulfillment of the
requirements of the degree of Bachelor of Business Administration (BBA) from Department of
Accounting & Information Systems, University of Dhaka, is wholly my work unless otherwise
referenced or acknowledged. This paper has not been submitted to any other academic purpose
or further research.
Mohammed Moin Uddin Reza

ID: 16-104 ; Batch : 16 ; Section:B
Date: 20th February, 2014.
Acknowledgement
First of all thank goes to almighty Allah who has created me and provided me with the wisdom
required for the research.
I am really thankful to Fatema Tuz Zohra, Lecturer, Accounting & Information Systems, and
University of Dhaka for the freedom she gave me in choosing my thesis paper topic and her
continuous guidance henceforth. Her guidance has been of extreme help to me. I am also
thankful for all the times, I consulted her and she answered with the utmost patience and
perseverance. Her guidelines for the thesis paper made it mandatory for me to seek learning in
the work environment, which proved to be very gratifying.
I also like to thank those whose work inspired and helped me to conduct this research on this
particular topic and those who have helped me throughout the period.
Finally thanks to my family and friends for their continuous support and love inspired me all the
time.
Abstract
The main objective of this study is to assess the students perception towards Ethics in Business
in Bangladesh. It is a way important to be reveled because the current business students are the
future leaders of business. So this study can be instrumental to identify and predict how the
businessmen of future time will act in respect of ethical behavior. The main findings of this study
reveal the fact that the present ethical practices are not well perceived by the business students of
Bangladesh. The survey results indicate that Ethical practices are not well maintained in
recruitment process and decision making. Moreover Respondents believe that maintaining the
religious values can play a significant role in the perfection of ethical practice in addition to well
defined code of conducts and enactment of laws and regulation. Respondents also expect
management taking stern actions as soon as unethical practices by individual is reported and
proved and expect companies working with the societal causes. Respondents perceive that Most
of the companies do not provide safe and harassment free environment especially for females.
On the top of everything, the knowledge of business ethics for the both management and owners
has got immense importance in the view of the business students which showcase the importance
of introducing different business ethics courses in the University curriculum.
Table of Contents
Chapters
Chapter One
Chapter Two
Chapter
Content
Page No
Letter of Transmittal
Declaration of the Report
ii
Acknowledgement
iii
Abstract
iv
Table of Contents
List of Tables
vi-vii
List of Figures
viii
Introduction
1-5
1.1
Background of the Study
1.2
Objective of the Study
1.3
Research Limitations
1.4
Structure of this Thesis
Research Design
2.1
Data Collection
2.2
Research Methodology
Literature Review
6-9
7
7-9
10-16
Three
Chapter Four Data Analysis & Findings
Chapter Five
17-46
4.1
Research Analysis
18-44
4.2
Research Findings
45-46
Recommendations and Conclusion
47-49
5.1
Recommendations
48
5.2
Conclusion
49
References
Appendix A : t-Test Results
Appendix B : Questionnaire used for the Survey
ix-xii
xiii-xviii
xix-xxi
List of Tables
Table no.
Content
Page no.
Table 2.1
Department wise Respondents
Table 2.2
Gender wise Respondents
Table 2.3
Score of Alternative Options used
Table 4.1
Greater business involvement with societal causes bears testimony of
18-19
ethical behavior
Table 4.2
Companies with well-defined code of business conduct will
20
showcase more ethical behavior than companies without it

Table 4.3
Business people entrusted with decision making are honest, fair, just
22
and trustworthy
Table 4.4
Management takes stern action against unethical practices as soon as
23
these are reported and proved

Table 4.5
Adherence to ethical practices does not add profit to a firm
Table 4.6
Ethical behavior can be ensured by strict adherence to laws and
25
26-27
regulation
Table 4.7
Compliance with legal requirements is more important than showing
28
ethical behavior
Table 4.8
The religious values can play an important role in the conception and
29-30
perfection of business ethics

Table 4.9
Businesses engage in corruption, malpractice and immoral activities
31-32
by force (Intense competition, unreasonable target, taking control of

scarce resources) not by will
Table 4.10
Knowledge of business ethics is very important for the owners and
33
managers of the businesses and for the future business leaders also
Table 4.11
Business students are unlikely to change their moral outlook because
35
they took an ethics course

Table 4.12
The recruitment policy of the companies employs nepotism and
37
favoritism in selecting candidates

Table 4.13
Offering a gift or bribe to secure a business contract is not unethical
38-39
Table 4.14
Businesses view natural resources as free and unlimited goods
40
available for their use

Table 4.15
Companies do not make gender discrimination and provide safe and
41-42
harassment free environment for female workers

Table 4.16
Businesses publicize untrue, fabricated and exaggerated information

about their product through advertisement in media
43
List of Figures
Figure No.
Figure 4.1
Content
Greater business involvement with societal causes bears testimony of
Page No.
19
ethical behavior
Figure 4.2
Companies with well-defined code of business conduct will showcase more
21
ethical behavior than companies without it

Figure 4.3
Business people entrusted with decision making are honest, fair, just and
23
trustworthy
Figure 4.4
Management takes stern action against unethical practices as soon as these
24
are reported and proved

Figure 4.5
Adherence to ethical practices does not add profit to a firm
26
Figure 4.6
Ethical behavior can be ensured by strict adherence to laws and regulation
27
Figure 4.7
Compliance with legal requirements is more important than showing ethical
29
behavior
Figure 4.8
The religious values can play an important role in the conception and
31
perfection of business ethics

Figure 4.9
Businesses engage in corruption, malpractice and immoral activities by
32
force (Intense competition, unreasonable target, taking control of scarce

resources) not by will
Figure 4.10
Knowledge of business ethics is very important for the owners and
34
managers of the businesses and for the future business leaders also
Figure 4.11
Business students are unlikely to change their moral outlook because they
36
took an ethics course

Figure 4.12
The recruitment policy of the companies employs nepotism and favoritism
38
in selecting candidates
Figure 4.13
Offering a gift or bribe to secure a business contract is not unethical
39
Figure 4.14
Businesses view natural resources as free and unlimited goods available for
41
their use
Figure 4.15
Companies do not make gender discrimination and provide safe and
42
harassment free environment for female workers

Figure 4.16
Businesses publicize untrue, fabricated and exaggerated information about

their product through advertisement in media
44
Chapter - 1
Introduction
In addition to providing a return to owners, business is charged with other straightforward tasks
acting lawfully, producing safe products and services at costs commensurate with quality, paying
taxes, creating opportunities for wealth creation through jobs and investments, commercializing
new technologies and minimizing negative social and environmental impacts which ultimately
can be termed as maintenance of ethical behavior properly in business. Unless Management
complies with all its responsibilities, achieving fair returns to stakeholders cannot be possible.
Business and society are mutually interdependent. There exists the symbiotic relationship
between business and society. Society depends on business for wealth creation whereas business
depends on society for an environment wherein it can meet its obligation to create that wealth.
The actions of business leaders affect not only themselves, but customers, employees, investors,
suppliers, governments, citizens, and communities. So Business is entrusted to faithfully and
ethically exercise its responsibilities in the use of power.
There is no confusion that People regardless their countries, living places, working places are
well concerned about the Ethical Factors. More specifically, Ethical attitudes in operating the
businesses are wide spread and much talked-about issues nowadays. From the family to society
at large, from the government to private workplace, ethical violations breaches of private and
public trust have become a conspicuous feature of the contemporary landscapes in the
Bangladesh and throughout the world.
An acute contradictory position prevails between the general people and the Business people.
General People expect the business people to operate the business maintaining the ethical
behavior properly whereas Business people, intentionally or obligatory to some extent, cannot
help compromising the ethical aspects in running the business which ultimately affects the
Macro environment. In my current research work, I have showed how the Bangladeshi Business
students think about ethical business practices in Bangladesh. It is a way important to be reveled
because the current business students are the future leaders of business. So this study can be
instrumental to identify and predict how the businessmen of future time will act in respect of
ethical behavior. Since the execution of ethical behaviors ultimately affects the macro
environment, so the future general peoples perceptions towards businesses and business leaders
can be predicted from this study also.
The main objective of this study is to assess the students perception towards Ethics in Business
in Bangladesh. The study has been conducted considering the fact that the respondents might not
be fully aware of the issues they are responding since all the respondents are students and have
not experienced the real world ethical challenges. But still they are believed to be well informed
as they all are the business students and along with text books, they have accumulated sufficient
knowledge on the ethical practices prevailing in Bangladesh from different media. So, their
responds in this regards can be the mirror of the actual ethical business practices in Bangladesh.
1.1 Background of the Study

Ethics research in the small business arena started over three decades ago, but began to gain
momentum in the late 1980s. Much of this work attempted to examine the balance between
moral values and economic opportunities. Business owners and managements have been facing
different ethical complications since the beginning. How the owners and the managements
overcome and deal these ethical complications has shaped different perception towards them in
different people. Different people view their actions in a different way and interpret at their own
way. As a part of General people, Business students also have some beliefs on what the ethical
practices going on and what the best ethical practices should have been. The perception of
business students in this regard has a great importance since these students will join the business
world one day and will act according what they think to be ethical. The present ethical practices
will shape their thoughts and will act at this way in future. So it is very important to know what
they perceive about our business ethics which can be the mirror to see how the future business
ethics practices will be. This thesis paper has tried to find out the business students perception
towards business ethics of Bangladesh using a survey questionnaire.
1.2 Objective of the Study

The main objective of this thesis paper is to provide an overall idea regarding what the present
business students, the ultimate future business leaders, perceive about the business ethics. It has
got the important dimension in a sense that the present students perception towards business
ongoing ethical practices will shape their ethical behavior too when they will be working as a
business people. The other related objectives that can be derived from this study are
Giving an idea about the present ethical practices of Bangladesh in the business field.
Showing what can be and what cannot be termed as ethical practice in business.
Illustrating what variables can ensure a sound ethical practice in business.
1.3 Research Limitations

Despite a devoted effort to make the paper error free, the following limitations have been
considered to be unavoidable
The sample size. Only 155 business students of the Faculty of Business Students (Final
Year) of the University of Dhaka have been asked as respondents for the survey. The
higher number of respondents might be giving a bit different result from what this paper
has obtained.
Only the Public University (DU) students were the respondents. Taking sample from
private universities can make the output a way different since their environment is not the
same as of public university.
Since students are learning every day, their present perception towards business ethics
may be a bit different when they will be learnt more in the future.
1.4 Structure of the Study

The rest of this paper has been organized as follow
Chapter two deals with how this particular research is designed. How the data for the
research is obtained and which methodology is being used.
Chapter three describes the prior studies on Business Ethics. This chapter aims to provide
a comprehensive landscape of the research literature and to provide a cohesive overview
of the studies and their results.
Chapter four deals with the analysis of the research and the core part of the research.
Here actually the survey output has been analyzed question by question. Different
statistical tools have been used to support the findings. At the end of the chapter the
major findings of the research has been highlighted.
Chapter Five deals with some recommendation that are made in light of the particular
research to improve the practice of business ethics in Bangladesh. Later the concluding
remarks on the research have been made.
Chapter - 2
Research Design
This chapter deals with the research design. In this chapter the data collection sources and
procedures are discussed along with the research methodology.
2.1 Data Collection

This thesis paper has been developed depending on the Primary data. A questionnaire was
prepared to conduct an opinion survey from the Business Students of the Faculty of Business
Students of The University of Dhaka. A total number of 155 respondents have answered 16
questions about their perception on the particular issues incorporated in the questionnaire.
2.2 Research Methodology

This study has been conducted on the 4th-year-Students of the Faculty of Business Studies of The
University of Dhaka. The Faculty of Business Studies has Eight Departments providing business
related knowledge concentrating majorly in different fields. A Questionnaire was designed
consisting of 16 questions to elicit the opinions of the students regarding Their Perceptions
toward Business Ethics in Bangladesh. All of them responded all the questions. As the
questionnaire was distributed unevenly, so the number of respondents from each department is
not the same. The participation of male and female is also not maintained at the same ratio. The
study has summarized the following information regarding the respondents
No.
Department
1
2
3
4
5
6
7
8
Accounting & Information Systems

Finance
Marketing
Management
Banking
Management Information Systems
International Business
Tourism and Hospitality
Management
Total
Respondents Percentage (%)

54
27
31
10
4
4
12
13
34.84
17.42
20.00
6.45
2.58
2.58
7.74
8.39
155
100.00
Table 2.1: Department wise Respondents
No.
Gender
Respondents
Percentage (%)
Male
100
64.52
Female
55
35.48
155
100.00
Total
Table 2.2: Gender wise Respondents

The survey asked the respondents to answer through their level of agreement or disagreement.
Five options were put there in the questionnaire to know whether they are agreed or strongly
agreed or neutral or disagreed or strongly disagreed regarding the issues stated there. Finally,
they were asked to make a short comment on their overall perception towards business ethics and
its practices in Bangladesh.
The choice of Business students particularly from the Business faculty of The University of
Dhaka in my research work has an important consistency with my research objective. Since
Business Faculty of The University of Dhaka has been providing quality business teaching for
long time and the students of this faculty have been joining a wide range of businesses for a
longer period of time successfully, eventually it is easily predictable that the present students of
this faculty will join the business world to explore the scarce opportunities prolifically. So their
perception towards business ethics in Bangladesh has been considered to be most important in
my research.
The research has been conducted using different statistical tools for better analysis purpose. The
raw data has been incorporated in the excel sheet and then the number of respondents for
particular choices available have been shown in the table in the percentage format. The General
Mean Score, Males Mean Score, Females Mean Score and t-Test (Using STATA Software)
have been incorporated in the analysis section to get the overall clear idea the present business
students are belonging regarding business ethics in Bangladesh. For the numerical calculation of
the behavioral answers of all the questionnaires, I have set the following score for all the
questions-
Options
Score
Strongly Agree
Agree
Neither Agree or Disagree
Disagree
Strongly Disagree
Table 2.3: Score of Alternative Options used

Later on, the above scores have been merged in the following manner.
-
Strongly Agreed or Agreed
Neither Agreed or Disagreed
Disagreed or Strongly Disagreed
All the analysis and interpretation have been made in the rest segments using the above three
alternatives. The Questionnaire used, t-Test Results have been incorporated in the Appendix part
of this report.
Chapter - 3
Literature Review
While Persons (2009) calls for research that contributes to better understanding of the ethical
makeup of our future business leaders, it is also important to gauge their perspectives as they
relate to those currently in positions of organizational authority. Such call illustrates how
important it is to know how the present business students perceive the ethical practices prevailing
as these present students will be the leader of future business world.
Over the last decade, business ethics has received increased attention by both the academic and
business communities as a way of addressing corporate misbehavior that has not been prevented
by market forces and government regulation (Lewin, 1983). According to Ho et al. (2006),
universities and business schools have an important role to play in solving the ethical problems
that currently pervade the business environment. Coutu (2006) states that it is high likely that
business students are more familiar with business ethics than non-business students.
A number of studies have been carried out in the past examining business students attitudes
towards ethics (see for example, Hollon and Ulrich, 1979; Preble 1985; Preble and Reichel,
1988; Jones, Jr. 1990, Grant, Jr. and Broom, 1988; and Small, 1992) covering different countries
of the world. Hollon and Ulrich (1979); in their study found that students had lower personal
ethics than executives. Preble (1985) concluded that older and more experienced people
appeared to be more ethical than students. Preble and Reichel (1988); in their investigation found
that both American and Israeli business students placed considerable importance on ethics in
business. The responses from Smalls study (1992); indicated a high commonality of views
towards business ethics by Western Australian, US and Israeli Students (p. 750). He further
argued that such commonality led him to believe that business ethics and business practices were
very similar throughout the Western World.
According to a gallup poll, 63% of Americans are dissatisfied with the countrys ethical
standards (John, 1986). In the study on Malaysian Business students Attitudes towards Business
ethics by Kazi Firoz Alam (Apr. 1995); he concluded that Malaysians Students believe that the
main task of a manager is to secure profits for the organization before anything else. He also
mentioned that students believe that a conflict exists between corporate and individual ethics and
moral considerations are ignored in selecting accounting policies in organizations. The study also
found Students believing that ethical values of the companies in Malaysia have declined during
the last few years where at their opinion, ethical education and top management attitudes are the
most important factors influencing corporate ethical environment. As many first class countriess
ethical business practices have been found in the questionable position in these researches, the
need for finding the ethical position of Bangladesh in respective of its practices has become an
important task to do.
The Aspen Institutes Initiative for Social Innovation through Business completed a longitudinal
study of MBA students; the study finds that over 80% of 512 respondents who had completed the
first year of the program viewed maximizing shareholder value as their prime concern (Aspen
ISIB, 2001, p-5). Hosmer (1999) noted that Accounting and Finance students, as compared to
other students, were more likely to view business ethics and social responsibility as generally
unimportant. Frank and Gilovich (1993) concluded that economics students grew increasingly
self-interested as they progressed through their program. In a Harris poll of 1,256 adults, 64%
rated the ethics of small-business owners positively. In contrast, only 31% gave business
executives a positive rating (Ujifusa, 1993). All these studies have drawn my attention and
attraction to work in this thesis paper to reveal how the business students of Bangladesh perceive
the prevailing practices of business ethics.
In October 1989, Newsweek reported results of a survey in which 1,093 high school seniors were
asked by The Pinnacle Group, Inc., an international public relations corporation, if they could see
themselves violating ethical principles in order to get ahead in the business world. Two-thirds of
the respondents said they would lie to achieve a business objective, and an equal percentage said
they would inflate their business expense reports. Fifty-nine percent of these students indicated a
willingness to face six months probation on an illegal deal in which they made $10 million
(Hey Ma, Get Me a Lawyer, 1989).
Ahmed, Chung & Eichenseher (Mar. 2003); in the study on Business Students Perception of
Ethics and moral Judgment: A Cross-Cultural Study concluded that Students having idealistic
attitude towards social responsibility and ethics, perceive the magnitude of the ethical problem
more facilely than the others. Also older students perceive the ethical problem easier than the
younger students do.
In the study conducted on 301 students Abdolmohammadi et al. (1997) found no significant
differences in ethical cognition between business students and the national average measured at
entry to college. The study also reports that group reasoning helps male students improve their
score significantly. Chung, Eichenseher & Taniguchi (May, 2008); in the study Ethical
Perceptions of Business Students: Differences between East Asia and The USAand among
Confucian Cultures states that U.S. students are much more attuned to (educated as to) the need
for ethical behavior in business.
Josephson Institute for Ethics reported results of a two-year study that included 3,630 college
students from all regions of the country. One-third of these students said they would lie to get a
job and one in five said they would falsify a report or cheat to keep their job or to compete on the
job (Abrams, 1992). Whether religious value can play any role in shaping the ethical practice can
be one avenue to work with in this case. In this paper, I have tried to reveal whether students
believe that religious value can play a role in shaping ethical behavior or not.
In a 1991 study of upper-division business students from five state universities across the U.S.,
63% admitted to having stolen from their employers, and more than one-third said they would
attempt an illegal act that would earn them or their company a profit of more than $100,000 if
they believed they had only a one percent chance of being caught and sent to a minimum security
prison for one year (Roderick et al., 1991). Cole & Smith (Aug., 1996); in the study Perceptions
of Business Ethics: Students vs. Business People found both business people and college
students demonstrating a high level of ethics when responding to the statements as they believed
the ethical response would be.
There already appears to be a commonly held belief that business students are only interested in
the bottom-line and are self-serving business types (Lopez et al., 2005). Given that the business
students today are the business leaders of tomorrow, and coupled with the negative stereotypes
surrounding them, the lack of support for sustainable business practices is a cause for concern
(Springett and Kearins, 2001; Thomas, 2005). So, if the present business students perceive the
present ethical practices negatively, there is a high chance that in future they will act in the same
manner as their ethical behaviors will be shaped by the present ethical practices.
The impact of changing attitudes among business students, while lauded, has yielded mixed
results (Ng & Ronald, Sep 2010). For example, Lopez et al. (2005) found business school
education improved the ethical beliefs of Asian and Hispanic students, but not those of Anglo-
American students. Ritter (2006) reported that ethics training only had an effect on female but
not on male students. Again Sleeper et al. (2006) found that students were interested in social
responsibility education only after a scandal has erupted. It has been suggested that ethical
beliefs cannot be taught because character development has already complete when an individual
reaches college age (Cragg, 1997)
Touche Ross (1988) conducted an opinion survey about ethical behavior in America. The survey
indicated that 94% of the respondents said that the business community was troubled by ethical
problems. D Aquila et al. (May, 2004); The most glaring differences between students and
leaders are the degree to which American business is perceived as ethical (24.5% for students
and 97% for leaders). There is also a difference in the degree to which the business ethics is
perceived as having been overblown (19.3% for students and 32% for leaders).
Based on research by Astin (1977), Astin and Erlandson (1997), Conaway and Fernandez (2000),
OLeary and Cotter (2000) and Pascarella and Terenzini (1991), it appears that a college
education has the potential to raise ethical awareness, affect future behavior, and broaden
students sensitivity for the well being of others. In my paper, I have tried to show whether
students believe it or not that taking ethics course can change ethical behavior or not. Khalizani
(2012) points out that some critics of ethics education have suggested that teaching business
ethics in the undergraduate and graduate curriculum is neither wise nor necessary, because of the
belief that university students are unlikely to change their moral outlook, simply because they
took an ethics course. Shurden, Santandreu, and Shurdens (2010) concluded that students
perception of ethics changes over time and is also positively influenced by ethics education. On
the contrary, Bloodgood, Turnley, and Mudrack (2010) claimed that ethics education does not
significantly impact the students view on cheating. Curren and Harich (1996) found that a
students discipline of study (either business or humanities) did not play a significant role in their
ethical judgments. Similarly, Ludlum and Moskalionov (2003) found that business majors did
not have significant differences from non-business majors on questions of ethics. Reiss and Mitra
(1988) found that choice of major did little to influence workplace behaviors. Even specific
courses have not seemed to matter. Two studies, (Cole and Smith, 1995; Ludlum and
Moskalionov, 2003) found that completion of an ethics course did little to influence the beliefs of
business students. McCarthy (1997) found the same result dealing specifically with accounting
majors and the AICPA code of ethics.
Business majors include management, marketing, finance, business administration, economics,
and accounting (OClock & Okleshen, Sep 1993). Accountants are perceived as members of one
of the most ethical professions (Touche Ross, 1988). Peer groups provide a strong negative
reference model for individual behavior, making it difficult to change individual codes of ethics
(Newstrom and Ruch, 1975). This contention suggests that ethics is personal due to an
individualized set of ethical standards (OClock & Okleshen, Sep 1993). Codes of conduct seem
to be the most pervasive response used by the corporate community as a way to improve
business ethics (Arlow & Ulrich, Apr. 1988). Their survey concluded that Business graduates
assessments of proposals to improve business ethics remain stable over time except for a
significantly higher disapproval of government regulation. A longitudinal study conducted by
Peppas and Diskin (2001) compared the attitudes of business students at two different points in
time, 1998 and 2002. The findings indicate that attitudes toward business ethics are not
significantly different in 2002 from that in 1998.
Lumsden and Faoki, (2013) found business students having more favorable attitudes towards
business ethics than non-business students which implies that there is the need to improve
attitude toward business ethics by non-business students since they will also get involved in
entrepreneurship and small business development where good ethical practices are vital to
success. That is the reason why I have chosen business students for the opinion survey in this
paper.
A study conducted by Desplaces, Beauvais, Melchar, and Bosco (2007) investigated the impact
of business education and the academic environment on the individuals ability to make ethical
decision where the authors found that codes of ethics and how students perceived these codes
can affect how they perceive the overall ethical culture of the institution. If the students
perceived that such codes of ethics are being enforced properly, they will consider these codes to
be effective and place a high moral expectation on the ethical culture and members of the
academic institution. So the relevance of code of conducts in an organization is beyond
description. I have shown in this study how the students perceive the relevance of well defined
code of conducts in the organization.
A number of studies have been conducted to determine whether there is a difference between
males and females with respect to their ethical beliefs and behavior. Beltramini et al. (1984)
concluded that females were significantly more concerned than males with ethical issues.
However, McNichols and Zimmer (1985) found no significant difference in the ethical beliefs of
males and females. There has been mixed results found in different researches regarding how
gender affects ethical perceptions and behavior. Akaah (1989) notes that many of the
explanations for gender differences are attributable to differences in the socialization proves or
culture expectations for what society considers appropriate behavior for male and females. Robin
and Babin (1997) present evidence there are no ethical differences between male and female
professional. Smith and Rogers (2000) found gender-based ethical differences and discovered
distinctions according to whether a subject was an actor or a respondent in a specific situation.
Females also behaved more ethically and perceived of more ethical problems than males in the
workforce (Smith and Rogers, 2000; Barnett and Karson, 1989; Chonko and Hunt, 1985;
Kidwell, Stevens and Bethke, 1987). This might be explained since females tend to be more
involved with a moral referent group than males (Ryan and Ciavarella, 2002). In this study, I
have also tried to incorporate the gender based differences in their opinion made. Libby and
Agnello (2000) recommend that age and work experience must be taken into account when
considering the effects of gender on ethical decision-making. Continued research in this area is
necessary to clarify the role of gender in business ethics.
Ludlum, Moskalionov and Ramachandran (March, 2013); Concluded that ethics is not a uniform
concept, except perhaps at the extremes (everyone being against murder). Drafting a code of
ethical behavior must include the rationale that not everyone will be in agreement on what
behaviors are unethical, and certainly that not every employee will have the same diligence in
seeing these behaviors as something that needs to be addressed in the workplace. Though a lot of
studies on How Students Perceive the ethical practices of business have been conducted
throughout the world, the number of such kind of studies in Bangladesh still very insignificant.
Still the business students of Bangladesh have been doing really praise worthy job in the
business field since long which has motivated me to work in this paper just to reveal the business
students perception towards business ethics which is a very relevant research in the present
context of Bangladesh.
Chapter - 4
Data Analysis & Findings
This chapter is considered to be the core part of this thesis paper. This chapter deals with the
research analysis drawn from the survey outputs and the result of the research. The findings of
the research have also been incorporated in this chapter.
4.1 Research Analysis

In the Research analysis section, I have shown the analysis of all the sixteen questions
individually that I have asked 155 respondents to answer. Before starting the analysis, a little
background has been added for all the questions asked to make it clear why the issue has
received my intense attention. In addition to showing the responds in terms of percentage, I have
shown the mean score, Males mean score, Females mean score and t-Test score to show
whether the respondents are neutral or not.
1. Greater business involvement with societal causes bears testimony of ethical behavior.
All the businesses cannot but operate the businesses within the society. So the involvement with
social activities is well expected by the general people from the businesses within which it
operates. With the very first questionnaire of the study, I wanted to know whether the students
of business background of Bangladesh thought that those who are largely involved with the
societal activities are illustrating there ethical attitudes or not. It is very important to know from
the sense that most of the business bodies get involved in some sorts of social activities and
disclose these as their Corporate Social Responsibility. To some general people, the execution of
such
activities
bears
the
testimony
of
ethical
behavior.
The following results have been obtained
Table 4.1: Greater business involvement with societal causes bears testimony of ethical behavior
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
3.75
3.7
3.84
9.6627 *
Opinions
Number of Respondents
Percentage (%)
115
74.19%
18
11.61%
Disagreed or Strongly
22
14.20%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05
Null Hypothesis, Ho: =3= Respondents are Neutral
Alternative Hypothesis, Ha: 3 = Respondents are not Neutral
The above replies show that 74.19% are agreed or strongly agreed with the notion whereas
14.20% are Disagreed or strongly disagreed and the rest 11.61% are neither agreed nor disagreed
with the notion. From the Mean score of 3.75, we can also perceive that majority of the
respondents are almost agreed with the thought that greater business involvement with societal
causes bears testimony of ethical behavior. Here from the male and female individual mean
score, we have observed a slight difference between their perceptions. Females are a way more
positive than males in this regard. The t-test score also disclose the fact that Here the respondents
are not neutral (t = 9.6627, p < .05).
74.19%
Greater business involvement with societal causes bears

testimony of ethical behavior
11.61%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
14.20%
Disagreed
Figure 4.1: Greater business involvement with societal causes bears testimony of ethical behavior
2. Companies with well-defined code of business conduct will showcase more ethical behavior
than companies without it.
Some companies articulate the code of business conducts clearly that must be maintained by
everybody whereas some companies do not. The maintenance of ethical behaviors rest upon the
individual ethics in case of the companies which do not have any defined code of business
conducts. Some people think that it is better to define the code of conduct clearly rather leaving it
on the individual assessment. The following results have been obtained
Table 4.2: Companies with well-defined code of business conduct will showcase more ethical
behavior than companies without it
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
4.17
4.2
4.13
16.6794*
Opinions
Percentage (%)
129
83.22%
15
9.68%
11
7.10%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

The above replies indicate that the significant portion (83.22%) believe that companies with
well-defined code of conduct showcase more ethical behavior than companies without it. Only
7.10% has disagreed with the notion whereas 9.68% has neither agreed nor disagreed. The mean
score of 4.17 also indicates the same inference. From this we can infer that even though people
believe companies working for the best interest of the stakeholder, they want each company
accommodated with well-defined code of conduct. This finding is consistent with some previous
researches which have suggested companies to have well-defined code of conduct as well. This
finding also indicates that people are no longer believing in personal well-judged attitudes and
people act or try to act (Specially for financial interest ) unethically in the absence of defined
code of conduct. As long as they are bound by organizational specified codes, they do act
ethically. It can be said as the dark side as well because Ethical behavior is something which
should be adopted inherently rather being obliged by specified codes. The t-test score is showing
that the respondents are not neutral in this regard (t =16.6794, p < .05).
Companies with well-defined code of business conduct will

showcase more ethical behavior than companies without it.
83.22%
9.68%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
7.10%
Disagreed
Figure 4.2: Companies with well-defined code of business conduct will showcase more ethical
behavior than companies without it
3. Business people entrusted with decision making are honest, fair, just and trustworthy.
This is one of the most important issues as this illustrates how the present business students see
and perceive their ancestors. From the general people view point, they hope that business people
will take all the decisions maintaining the honesty which will be trustworthy in general. The
replies are
Table 4.3: Business people entrusted with decision making are honest, fair, just and trustworthy.
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
3.1
3.18
2.98
1.2130**
Opinions
Percentage (%)
57
36.78%
42
27.10%
56
36.12%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

The above replies indicate something astonishing as well as threatening to the present business
world. Only 36.78% respondents believe that business people who are making the decisions are
honest, fair and trustworthy. Even though only 27.10% respondents have neither agreed nor
disagreed, the mean score of 3.1 simply indicates people having almost neutral believe in this
regard on an average. It means that they are confused whether business people who are entrusted
with decision making are actually trustworthy or not. Particularly in Bangladesh, the political
attachment with every decision making in the corporate level along with the heinous practice of
considering influential references has supported the general people to believe at this way to a
great extent. Here, the Females Mean score is a way less than the Males mean score which
indicates that females believe less the business people as well as their decisions to be trustworthy
than that of males. This may have happened as Females perceive more ethical problems than
males in the workplace (Smith and Rogers, 2000) and they tend to be more involved with a
moral referent group than males (Ryan and Ciavarella, 2002). The t-score is showing the
respondents being Neutral here (t=1.2130, p>.05).
Business people entrusted with decision making are honest, fair,

just and trustworthy
36.78%
36.12%
27.10%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.3: Business people entrusted with decision making are honest, fair, just and trustworthy.
4. Management takes stern action against unethical practices as soon as these are reported
and proved.
Despite the defined code of conducts, Business people often get entangled with unethical
practices. Sometimes it happens intentionally motivated by own interest and sometimes it
happens from obligation arises from top level. General People expects that Management work
for the best interest of the stakeholders and as soon as the unethical practices by individual is
reported, it takes stern disciplinary actions.
Table 4.4: Management takes stern action against unethical practices as soon as these are reported
and proved
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
3.53
3.5
3.58
5.5792*
Opinions
Percentage (%)
87
56.13%
32
20.65%
36
23.22%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

From the replies obtained, we have found 56.13% respondents agreeing with the notion where
the mean score of 3.53 also gives us the same results on an average. Even though Most of the
business people have lost the trustworthiness (Ref: Question 3), still people believe or trust the
management taking stern action against unethical practices as soon as these are reported and
proved. The mean score of males and females is also almost similar in this regard. The t-test
score
is
showing
that
the
respondents
are
not
neutral
(t=5.5792,
p<,05).
Figure 4.4: Management takes stern action against unethical practices as soon as these are reported
and proved
5. Adherence to ethical practices does not add profit to a firm.

There are lots of arguments in favor and against to this questionnaire. Some argue that adherence
to ethical practices adds profit to a firm and some argue against to it. In real, what actually
happens is totally relative and varies from country to country, society to society. In some cases it
is found that from the perspective of a firm, adherence to ethical practices does add profit to it
since people and the stakeholders become loyal to the firm becoming informed of the ethical
practices maintained by the firm. On the other hand a number of people working inside the firm
think of increasing their own interest rather the firms value resulting in ill ethical practices
which ultimately negatively affect the firms reputations.
Table 4.5: Adherence to ethical practices does not add profit to a firm
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
2.06
1.99
2.18
-11.7089*
Opinions
Percentage (%)
21
13.54%
16
10.33%
118
76.13%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

Only 13.54% respondents believe that adherence to ethical practices does not add profit to the
firm whereas 76.13% believe that adherence to ethical practices does add profit to the firm. The
Mean score of 2.06 also indicates the disregard of the notion on an average. This result is
particularly very important since it illustrates how the current business students who will become
the future business leaders perceive about how the business practice should be. This result is
prolifically making us believe that regardless the actual practice, the Future business leaders at
least think that adherence to ethical practice does add profit to the firm. So, from the point of
making and accumulating profit, At least our future generation will install the ethical practices in
the corporate arena. The t-score discloses that the respondents are not neutral here (t= -11.7089,
p<.05).
Adherence to ethical practices does not add profit to a

firm
76.13%
13.54%
10.33%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.5: Adherence to ethical practices does not add profit to a firm
6. Ethical behavior can be ensured by strict adherence to laws and regulation.

Even though ethical behavior is an abstract factor which should be guided by individuals own
values, still the strict adherence to laws and regulation can play the minimum role to ensure the
ethical behavior maintenance.
Table 4.6: Ethical behavior can be ensured by strict adherence to laws and regulation
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
3.62
3.56
3.73
6.3022*
Opinions
Percentage (%)
110
70.96%
06
3.87%
39
25.17%
155
100%
Disagreed
TOTAL
*p < .05 ; ** p > .05
The above replies indicates that 70.96% respondents, the significant number indeed, are in
the opinion that the strict adherence to laws and regulation can ensure ethical behaviors in the
corporation. The mean score of 3.62 also indicates that majority of the respondents are
agreed with the notion. Even though 25.17% respondents dont believe that ethical behavior
can be ensured by strict adherence to laws and regulation, the major responds still provides
us the feelings that people no longer believe that business people will maintain ethical
behavior at all the stage of business deliberately where only the obligation of laws can ensure
such maintenance of ethical behavior. The t-score discloses that the respondents are not
neutral here (t=6.3022, p<.05).

Figure 4.6: Ethical behavior can be ensured by strict adherence to laws and regulation
Ethical behavior can be ensured by strict adherence to

laws and regulation
70.96%
25.17%
3.87%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
7. Compliance with legal requirements is more important than showing ethical behavior.
Some firms operating within the society think that the compliance with the legal requirements
itself is an ethical behavior. And it is more important than showing any additional ethical
behavior. But is also true that ethical behavior can be compromised complying the legal
requirements too. In this case, ethical behavior will be under question.
Table 4.7: Compliance with legal requirements is more important than showing ethical behavior
Males Mean Score
Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
3.05
3.15
0.5406**
Opinions
Percentage (%)
62
40%
33
21.29%
60
38.71%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

40% respondents believe that compliance with the legal requirements is more important than
showing ethical behavior whereas 38.71% believe that the notion is not true. The mean score of
3.05 indicates that respondents have neither agreed nor disagreed on an average with the issue.
So, the respondents have confusion over the issue whether such compliance really gets more
importance than showing ethical behavior. Such confusion may arise from the belief that
compliance with legal requirements is itself an execution of ethical behavior. The t-score is
showing that the respondents are neutral in this issue (t=0.5406, p>.05).
Compliance with legal requirements is more important than

showing ethical behavior
40%
38.71%
21.29%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed or Strognly
Disagreed
Figure 4.7: Compliance with legal requirements is more important than showing ethical behavior
8. The religious values can play an important role in the conception and perfection of business
ethics.
Since the ethical behavior derives and should be derived from personal values, religious values
can play an important role here. Those who are religiously well believed cannot act which is not
ethical. What the future business leaders think regarding religious value addition for the
conception and perfection of business ethics is also important to know as well. The responds are
as follows
Table 4.8: The religious values can play an important role in the conception and perfection of
business ethics
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
4.5
4.58
4.35
24.5472*
Opinions
Percentage (%)
144
92.90%
08
5.16%
03
1.94%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

Maintenance of Ethical behavior is largely dependent on the religious values and the significant
number of respondents is also in the same belief that an important role in the conception and
perfection of business ethics can be ensured by perfect religious values. 92.90% respondents
have agreed that religious values can play an important role in this regard whereas only 1.94%
has disagreed with the notion. Since ethical values are basically self-driven factors and the
unethical behaviors are the result of financial and non-financial greed of individuals, such greed
for getting or enjoying some benefits being unethical can be checked by checking own beliefs
where religious firm belief can play a major role. The mean score of 4.5 also shows the positive
response from the majority. So we can conclude that the large number of ethical collapse in the
firms nowadays may be due to the factor that people are becoming less religiously concerned
nowadays and the maintenance of religious values is no longer considered as an important issue
to them. The t-test score is showing that the respondents are not neutral in this regard (t=24.5472,
p<.05).
The religious values can play an important role in the

conception and perfection of business ethics
92.90%
5.16%
Strongly Agreed or
Agreed
1.94%
Neither Agreed or
Disagreed
Disagreed
Figure 4.8: The religious values can play an important role in the conception and perfection of
business ethics
9. Businesses engage in corruption, malpractice and immoral activities by force (Intense

competition, unreasonable target, taking control of scarce resources) not by will.
The Demand supply law has always been triggering the intense competition in the market. All
the Competitors are well concerned about the competitive market and trying to take control of
scarce resources to capture the market. To survive in the competitive market, Business
sometimes engage in corruption, malpractices and immoral activities which is actually not the
result of intension rather the result of force to survive. Such notion is a contradictory issue too
and some believe that business people show this excuse or mare excuse just to hide their
unethical practices from public.
Table 4.9: Businesses engage in corruption, malpractice and immoral activities by force (Intense
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
2.69
2.8
2.49
-3.2174*
Opinions
Percentage (%)
48
30.97%
33
21.29%
74
47.74%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

The majority of 47.74% respondents has disagreed that businesses engage with unethical
practices by force and not by will. The mean score of 2.69 also indicates that business people get
engaged in corruption, malpractice and immoral activities by will not by force. Only 30.97%
respondents have agreed with the notion. So, whatever the reasons working behind business
people malpractices, it is not considered there obligatory actions to survive by the general
people. The majority believes that affiliation with corruption is unethical by will or by force.
The t-test score discloses that the respondents are not neutral here (t=-3.2174, p<.05).
Businesses engage in corruption, malpractice and immoral

activities by force (Intense competition, unreasonable target,
taking control of scarce resources) not by will
47.74%
30.97%
21.29%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.9: Businesses engage in corruption, malpractice and immoral activities by force (Intense
10. Knowledge of business ethics is very important for the owners and managers of the
businesses and for the future business leaders also.
It is pointless to expect ethical behavior in business from the business people without knowing
that fact that whether they belong sufficient knowledge of business ethics or not. Even though
ethical behavior is a relative term and it should be learnt from own values, but there are some
areas where appropriate knowledge on ethics should be developed consciously rather subconsciously. Say for example, an officer may think that using the stationeries for private task
which had been kept for official purpose is not an unethical behavior. So, in this case knowledge
regarding ethical behaviors and its scope should be well defined and well learn by individual
which is undoubtedly important for the owners and managers of the businesses and for the future
business leaders also.
Table 4.10: Knowledge of business ethics is very important for the owners and managers of the
businesses and for the future business leaders also
Males Mean Score
Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
4.68
4.64
4.75
28.2984*
Opinions
Percentage (%)
146
94.19%
04
2.58%
05
3.23%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

Our majority of the respondents also have agreed with the notion that people who are involved
with business and will be involved with business should have proper ethical knowledge
regarding business. 94.19% respondents have agreed with the notion whereas only 3.23% has
disagreed with the issue. The mean score of 4.68 also reflects the positive thoughts of the
majority respondents. This positive responds also indicates the importance to introduce business
ethics courses in the graduation level so that our future business leaders can enter into the
business world keeping sufficient ethical knowledge of business. This finding is consistent with
some previous research. Lumsden and Faoki, (2013) found business students having more
favorable attitudes towards business ethics than non-business students which implies that there is
the need to improve attitude toward business ethics by non-business students since they will also
get involved in entrepreneurship and small business development where good ethical practices
are vital to success. The t-test score is disclosing the fact that the respondents are not neutral in
this issue (t=28.2984, p<.05).
Knowledge of business ethics is very important for the owners

and managers of the businesses and for the future business
leaders also
94.19%
2.58%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
3.23%
Disagreed
Figure 4.10: Knowledge of business ethics is very important for the owners and managers of the
businesses and for the future business leaders also
11. Business students are unlikely to change their moral outlook because they took an ethics
course.
Khalizani (2012) points out that some critics of ethics education have suggested that teaching
business ethics in the undergraduate and graduate curriculum is neither wise nor necessary,
because of the belief that university students are unlikely to change their moral outlook, simply
because they took an ethics course. The responds are as followsTable 4.11: Business students are unlikely to change their moral outlook because they took an
ethics course
Males Mean Score
Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
2.95
2.94
2.96
-0.5761**
Opinions
Percentage (%)
55
35.48%
35
22.58%
65
41.94%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

Only 35.48% respondents have agreed with the issue that business students are unlikely to
change their moral outlook because they took an ethics course. 41.94% respondents have
disagreed with the notion and they believe that taking an ethics course can be an effective tool to
change their moral outlook. The mean score of 2.95 also suggests that majority of the
respondents have disagreed with the notion. So, this finding is contradictory with the Khalizani
(2012). Further research with larger sample size should be conducted in this area. The t-score is
telling us that the respondents are neutral in this case (t=-0.5761, p>.05).
Business students are unlikely to change their moral outlook

because they took an ethics course
41.94%
35.48%
22.58%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.11: Business students are unlikely to change their moral outlook because they took an
ethics course
12. The recruitment policy of the companies employs nepotism and favoritism in selecting
candidates.
In case of Bangladesh, The overall belief the general business students along with general people
belong is that Quality is not judged at the time of recruitment in the companies. Companies
employ nepotism and favoritism in selecting candidates and the higher the influential references
candidates have, the higher the chance that he/she will be recruited. Competencies, qualification
are not well considered all the time.
Table 4.12: The recruitment policy of the companies employs nepotism and favoritism in selecting
candidates
Males Mean Score
Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
4.36
3.56
3.4
5.3556*
Opinions
Percentage (%)
87
56.13%
43
27.74%
25
16.13%
155
100%
Disagreed
TOTAL
*p < .05 ; ** p > .05
The majority of the respondents (56.13%) are in the opinion that Companies do employ nepotism
in the time of recruitment. The mean score of 4.36 also supports the majoritys beliefs. 16.13%
believes that companies do not do favoritism in the time of recruitment whereas 27.74% has not
agreed or disagreed with the notion. It is a great ethical issue to be considered by the business
people while recruiting freshers. Generally, Students want to enhance their technical knowledge,
interpersonal skills along with academic knowledge to be the best candidate to be interviewed.
But when the students perception towards companys recruitment policy comes out negatively,
it will tough for these kinds of companies to survive in the long run with less efficient
employees. The t-test score is showing that the respondents are not neutral in this regard
(t=5.3556,p<.05).
The recruitment policy of the companies employs nepotism and

favoritism in selecting candidates
56.13%
27.74%
16.13%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.12: The recruitment policy of the companies employs nepotism and favoritism in selecting
candidates
13. Offering a gift or bribe to secure a business contract is not unethical.

In case of countries like Bangladesh, it is really a challenging, or impossible to some extents, to
secure a business contract without offering a gift or bribe. In case of public sector, the scenario
of today is quite depressing. Nothing is possible without managing the authority by means of
offering gift or bribe. Business people also have got used to with it. They have accepted this as
their regular expense rather thinking its ethical aspects to survive in the business. But finally
such expenditures are charged to the final consumers and the final consumers become the
ultimate sufferers of this kind of ill-practices.
Table 4.13: Offering a gift or bribe to secure a business contract is not unethical.
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
1.68
1.77
1.51
-16.0607*
Opinions
Percentage (%)
15
9.67%
07
4.52%
133
85.81%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

The above information shows strongly disagreement with the notion and the significant majority
of 85.81% respondents believe that offering a gift or bribe to secure a business contract is not
ethical. Only 9.67% respondents believe these to be a business contract rather unethical practice.
The mean score of 1.68 also shows the significant majoritys disagreement on an average with
the notion. In todays world, particularly politically affected countries like Bangladesh, doing
such kind of activities is no longer considered to be unethical. To secure a business contract,
business people cannot help doing such heinous crime. Still the present business students
perceive these practice to be heinous and unethical which is a good sign for our future business
environment as these business students will role the business world one day. The t-test score
discloses that the respondents are not neutral in this case (t=-16.0607, p<.05)
Offering a gift or bribe to secure a business contract is not

unethical.
85.81%
9.67%
Strongly Agreed or
Agreed
4.52%
Neither Agreed or
Disagreed
Disagreed or Strognly
Disagreed
Figure 4.13: Offering a gift or bribe to secure a business contract is not unethical.
14. Businesses view natural resources (Air, Water, Land and other resources) as free and
unlimited goods available for their use.
Table 4.14: Businesses view natural resources as free and unlimited goods available for their use
Males Mean Score
Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
2.7
2.68
2.73
-2.9124*
Opinions
Percentage (%)
51
32.90%
23
14.84%
81
52.26%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

32.90% respondents believe that businesses do view natural resources as free and unlimited
goods available for their use whereas 52.26% does not believe with the notion. The mean score
of 2.7 also indicates the disagreement of the respondents on an average. In practice, businesses
get some natural resources as free goods but in most of the cases businesses have to pay a major
portion of expense to avail the natural resources available. Moreover, the acute competition
cannot let all the business access in all the natural resources. So there is no point to think that
businesses can use natural resources as unlimited usable free goods. The t-test score here
indicates that the respondents are not neutral in this issue (t=-2.9124, p<.05).
Businesses view natural resources (Air, Water, Land and other

resources) as free and unlimited goods available for their use
52.26%
32.90%
14.84%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.14: Businesses view natural resources as free and unlimited goods available for their use
15. Companies do not make gender discrimination and provide safe and harassment free
environment for female workers.
Every company does not maintain 100% compliance and cannot ensure gender equality and
cannot provide safe and harassment free environment for female workers. Some companies do it
intentionally to cut and retain a good profit margin and some cannot afford to provide such safe
environment due to limitations.
Table 4.15: Companies do not make gender discrimination and provide safe and harassment free
environment for female workers
Mean Score
Males Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
2.7
2.82
2.47
-3.2740*
Opinions
Percentage (%)
39
25.16%
35
22.58%
81
52.26%
155
100%
Disagreed
TOTAL
* p < .05 ; ** p > .05

The survey result shows a major disagreement with the notion. About 52.26% respondents
believe that companies do make gender discrimination and do not provide safe and harassment
free environment for female workers. Only 25.15% respondents have agreed that companies do
not make gender discrimination. The rest 22.58% respondents have neither agreed nor disagreed.
Basically, providing harassment free work environment is one of the ethical practices that every
company should consider. Here the Female mean score is less than that of male as female
experience more discrimination in the workplace. The good side of this survey that students at
least believe that doing such gender discrimination is a kind of ill-ethical job. So, when they will
enter the workforce, hopefully such realization will provide all the people a gender-nondiscriminatory work environment then. The t-test score is showing that the respondents are not
neutral in this regard (t=-3.2740, p<.05).
Companies do not make gender discrimination and provide

safe and harassment free environment for female workers
52.26%
25.16%
22.58%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.15: Companies do not make gender discrimination and provide safe and harassment free
environment for female workers
16. Businesses publicize untrue, fabricated and exaggerated information about their product
through advertisement in media.
Table 4.16: Businesses publicize untrue, fabricated and exaggerated information about their
product through advertisement in media.
Males Mean Score
Mean Score
Females Mean Score
t-Test Score
Ho: =3, Ha: 3
3.94
3.92
3.98
12.1073*
Opinions
Percentage (%)
117
75.48%
26
16.77%
12
7.75%
155
100%
Disagreed
TOTAL
*p < .05 ; ** p > .05
The above results show that 75.48% respondents believe that products information which are
published through advertisement in media by businesses are untrue, fabricated and exaggerated
information. The published information is not fully true and has been exaggerated for the sake of
capturing the market. Only 7.75% respondents believe that businesses publicize true information.
The mean score of 3.94 also indicates the major respondents belief towards business untrue
published information. This perception towards business people by the business students can be
described as the negative or dark sight for the future business leaders. As the Present business
students will be the future business leaders, if they believe that fabricated information
publication is important to capture the market, the future business role in the society will be
under catastrophe for sure. The t-test score signifies that the respondents are not neutral in this
issue (t=12.1073, p<.05).
Businesses publicize untrue, fabricated and exaggerated

information about their product through advertisement in media
75.48%
16.77%
7.75%
Strongly Agreed or
Agreed
Neither Agreed or
Disagreed
Disagreed
Figure 4.16: Businesses publicize untrue, fabricated and exaggerated information about their
product through advertisement in media.
4.2 Research Findings

The following findings regarding the perception of business students of Bangladesh on business
ethics have been listed out analyzing all the data obtained from the responds of the 155
respondents
Those who are largely involved with societal causes are considered to be ethical or acting
ethically in running the business. Society welcomes the businesses working for the best
interest of the society along with business peoples own interest.
Companies are believed to be ethical when they have well-defined code of conducts. In
the absence of code of conducts, People cannot rely on the companys individual actions
to be ethical.
Respondents remained neutral in answering whether the business people are entrusted
with decision making are true and fair. So, Students posses a neutral or confusing belief
regarding whether business people make trustworthy decisions or not.
People entrust management taking stern action against unethical practices as soon as
these are reported and proved.
There is an overwhelming support on the notion that businesses should adopt ethical
practices as such practices do add profit to the organization.
According to the major responds, The Practices of ethical behavior can be ensured by the
adherence of strict laws and regulations.
Respondents are almost equally highly divided in their opinion regarding whether the
compliance of legal requirement is more important or not than showing ethical behavior.
Some think that it is more important to complain legal requirements and some think that
it is more important to show ethical behavior.
The significant number of respondents believes that the perfection of ethical behavior can
be prolifically and perfectly shaped only by keeping the religious values as ordained by
God.
Majority believes that business people, by will, get engaged in malpractices not by force
i.e. for taking market control.
On the top of everything, the overwhelming support has shown the extreme importance
of business ethics knowledge for the owners and managers of the businesses and for the
future business leaders also. Such findings also show the importance to introduce
mandatory ethics course in the university curriculum.
Taking of ethics course in the graduation cannot change their ethical outlook completely
rather it should be self-driven and adopted inherently.
Majority still believes that in our country Nepotism exists in recruitment in different
organizations.
Even for the sake of getting a business contract, offering bribe or gift is not ethical in the
view of majority.
Businesses do not view natural resources (Air, Water, Land and other resources) as free
and unlimited goods available for their use.
Companies do make gender discrimination and do not provide safe and harassment free
environment for female workers at the opinion of maximum respondents.
According to the majority, Businesses publicize untrue, fabricated and exaggerated

information about their product through advertisement in media to capture the market.
Chapter - 5
Recommendations & Conclusion
This chapter comes out with some recommendations on the Overall Ethical practices on
Bangladesh and tries to draw a conclusion.
5.1 Recommendations
The overall ethical practices in Bangladesh business field obtained from the survey place an
important consideration to check whether the ethical practices ongoing in Bangladesh are really
worth modification or not. In order to improve the ethical practices in Bangladesh, the following
recommendations are made
Businesses should get engaged with as many social activities as possible within their
affordable limit. They should establish a well-defined code of conduct and government
should enact required laws and regulations. Businesses should be trustworthy in decision
making and should ensure the adoption of stern actions for unethical practices proved.
Knowledge of business ethics should be checked through written and viva while recruiting
for ensuring that on recruitment, ethical practices will be kept on. Building such an automatic
recruitment process where no nepotism can work can be one way to avoid such ethical
problem. Businesses should provide safe and harassment free work environment especially
for female workers. They should not publicize exaggerated information regarding their
products in media which is actually not true. Different attractive bonus plans can be
introduced by the organizations for the best ethical actions beyond defined code of conducts
undertaken by individuals. Businesses can arrange different workshop and seminars for the
employees from time to time on the importance of maintaining business ethics all the way.
5.2 Conclusion
The main findings of this research include the following Firstly, The overall perception
towards business ethics in Bangladesh of the Business Students vary significantly. Still in some
cases, their perception illustrates a real dark insight on the ethical business practice of
Bangladesh i.e. Business peoples trustworthiness in decision making, their recruitment process.
Secondly, every company should have a well-defined code of conducts and should be
mandatorily controlled by laws and regulation so that they cannot act unethically. Thirdly,
Religious values should be given emphasize in ensuring the ethical behavior in the business
practices. Fourthly, Companies should get involved in the social activities which can be
alternatively considered as ethical action by the general people. Fifthly, Companies should
behave in an unbiased way while recruiting employees and avoid nepotism. Finally, a profound
emphasize should be given in the ethics knowledge for both the managers and owners which
illustrates the need for introducing Ethics courses in the graduation level.
Overall Bangladeshi business students place a significant importance on business ethics
practices. Since these business students will lead the business world one day, their present
perception towards current ethical practices will shape their ethics too.
The findings of this study also suggest and provide a floor for thinking further research work.
Comparing the business students perception and the business peoples perception of Bangladesh
regarding ethical practices in business can be one avenue for further research. Again comparing
the perceptions of Public University and Private University Students can be another avenue for
further research.
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Appendix A : t-Test Results

One-sample t test
Variable
Obs
Mean
q1
155
3.748387
Std. Err.
Std. Dev.
[95% Conf. Interval]
.0774508
.9642543
3.595384
mean = mean(q1)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 1.0000
3.90139
t =
degrees of freedom =
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
9.6627
154
Ha: mean > 3

Pr(T > t) = 0.0000
One-sample t test
Variable
Obs
Mean
q2
155
4.174194
Std. Err.
.070398
Std. Dev.
.8764479
4.035123
mean = mean(q2)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 1.0000
4.313264
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
16.6794
154
Ha: mean > 3

Pr(T > t) = 0.0000
One-sample t test
Variable
Obs
Mean
q3
155
3.109677
mean = mean(q3)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.8865
Std. Err.
Std. Dev.
.0904153
1.125661
2.931063
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.2270
3.288292
1.2130
154
Ha: mean > 3

Pr(T > t) = 0.1135
One-sample t test
Variable
Obs
Mean
q4
155
3.529032
Std. Err.
Std. Dev.
.0948218
1.180522
3.341713
mean = mean(q4)
Ho: mean = 3
3.716352
t =
Ha: mean < 3

Pr(T < t) = 1.0000
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
Ha: mean > 3

Pr(T > t) = 0.0000
One-sample t test
Variable
Obs
Mean
q5
155
2.058065
Std. Err.
Std. Dev.
.0804463
1.001549
1.899144
mean = mean(q5)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.0000
2.216985
t = -11.7089
154
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
Ha: mean > 3

Pr(T > t) = 1.0000
One-sample t test
Variable
Obs
Mean
q6
155
3.619355
mean = mean(q6)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 1.0000
Std. Err.
.0982763
Std. Dev.
1.22353

3.425211
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
5.5792
154
3.813498
6.3022
154
Ha: mean > 3

Pr(T > t) = 0.0000
. ttest q7==3
One-sample t test
Variable
Obs
Mean
q7
155
3.051613
Std. Err.
Std. Dev.
.0954752
1.188656
2.863003
mean = mean(q7)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.7052
3.240223
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.5896
0.5406
154
Ha: mean > 3

Pr(T > t) = 0.2948
One-sample t test
Variable
Obs
Mean
q8
155
4.496774
Std. Err.
Std. Dev.
.0609753
.7591365
4.376318
mean = mean(q8)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 1.0000
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
4.61723
24.5472
154
Ha: mean > 3

Pr(T > t) = 0.0000
One-sample t test
Variable
Obs
Mean
q9
155
2.690323
mean = mean(q9)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.0008
Std. Err.
Std. Dev.
.0962505
1.198309
2.500181
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0016
2.880464
-3.2174
154
Ha: mean > 3

Pr(T > t) = 0.9992
One-sample t test
Variable
Obs
Mean
q10
155
4.677419
Std. Err.
Std. Dev.
.0592761
.7379815
mean = mean(q10)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 1.0000

4.56032
4.794519
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
28.2984
154
Ha: mean > 3

Pr(T > t) = 0.0000
One-sample t test
Variable
Obs
Mean
q11
155
2.948387
Std. Err.
.0895895
Std. Dev.
1.11538
mean = mean(q11)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.2827

2.771404
3.12537
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.5654
-0.5761
154
Ha: mean > 3

Pr(T > t) = 0.7173
One-sample t test
Variable
Obs
Mean
q12
155
3.503226
mean = mean(q12)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 1.0000
Std. Err.
Std. Dev.
.0939628
1.169827
3.317603
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
3.688848
5.3556
154
Ha: mean > 3

Pr(T > t) = 0.0000
One-sample t test
Variable
Obs
Mean
q13
155
1.677419
Std. Err.
.082349
Std. Dev.
1.025237
mean = mean(q13)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.0000

1.51474
1.840099
t = -16.0607
154
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
Ha: mean > 3

Pr(T > t) = 1.0000
One-sample t test
Variable
Obs
Mean
q14
155
2.696774
Std. Err.
Std. Dev.
.1041148
1.296219
2.491097
mean = mean(q14)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.0021
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0041
2.902452
-2.9124
154
Ha: mean > 3

Pr(T > t) = 0.9979
. ttest q15==3
One-sample t test
Variable
Obs
Mean
q15
155
2.696774
mean = mean(q15)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 0.0007
Std. Err.
Std. Dev.
.0926156
1.153055
2.513813
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0013
2.879735
-3.2740
154
Ha: mean > 3

Pr(T > t) = 0.9993
One-sample t test
Variable
Obs
Mean
q16
155
3.941935
mean = mean(q16)
Ho: mean = 3
Ha: mean < 3
Pr(T < t) = 1.0000
Std. Err.
Std. Dev.
.077799
.9685892
3.788245
t =
Ha: mean != 3
Pr(|T| > |t|) = 0.0000
4.095626
12.1073
154
Ha: mean > 3

Pr(T > t) = 0.0000
Appendix B : Questionnaire Used for the Survey

Questionnaire
Dear Sir/ Madam,
This questionnaire is a part of my current research on the Students Perception Towards Ethics in
Business: A Study on Business Students of Bangladesh. Your kind cooperation & fair opinion
will be highly appreciated. All the information received will be kept confidential and will be
used for academic purpose only.
PART A: Data Classification
Name:
Department:
University:
Education level:
Gender:
Male
Female
PART-B: Please indicate your opinion on the following statements about business ethics.
1. Greater business involvement with societal causes bears testimony of ethical behavior.
Strongly Agree
Agree
Neither Agree nor Disagree
Disagree
Strongly Disagree
2. Companies with well-defined code of business conduct will showcase more ethical behavior
than companies without it.
Strongly Agree
Agree
Disagree
Strongly Disagree
3. Business people entrusted with decision making are honest, fair, just and trustworthy.
Strongly Agree
Agree
Disagree
Strongly Disagree
4. Management takes stern action against unethical practices as soon as these are reported and
proved.
Strongly Agree
Agree
Disagree
Strongly Disagree
5. Adherence to ethical practices does not add profit to a firm.
Strongly Agree
Agree
Disagree
Strongly Disagree
6. Ethical behavior can be ensured by strict adherence to laws and regulation.
Strongly Agree
Agree
Disagree
Strongly Disagree
7. Compliance with legal requirements is more important than showing ethical behavior.
Strongly Agree
Agree
Disagree
Strongly Disagree
8. The religious values can play an important role in the conception and perfection of business
ethics.
Strongly Agree
Agree
Disagree
Strongly Disagree
9. Businesses engage in corruption, malpractice and immoral activities by force (Intense
Strongly Agree
Agree
Disagree
Strongly Disagree
10. Knowledge of business ethics is very important for the owners and managers of the
businesses and for the future business leaders also.
Strongly Agree
Agree
Disagree
Strongly Disagree
11. Business students are unlikely to change their moral outlook because they took an ethics
course.
Strongly Agree
Agree
Disagree
Strongly Disagree
12. The recruitment policy of the companies employs nepotism and favoritism in selecting
candidates.
Strongly Agree
Agree
Disagree
Strongly Disagree
13. Offering a gift or bribe to secure a business contract is not unethical.
Strongly Agree
Agree
Disagree
Strongly Disagree
14. Businesses view natural resources (Air, Water, Land and other resources) as free and
unlimited goods available for their use.
Strongly Agree
Agree
Disagree
Strongly Disagree
15. Companies do not make gender discrimination and provide safe and harassment free
environment for female workers.
Strongly Agree
Agree
Disagree
Strongly Disagree
16. Businesses publicize untrue, fabricated and exaggerated information about their product
through advertisement in media.
Strongly Agree
Agree
Disagree
Strongly Disagree
17. Comment on your overall perception of business ethics and ethical practices of the business
organizations of your country.
Thanks for your time and cooperation

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Students Perception towards Ethics in Business:

A Study on Business Students of Bangladesh

Date of Submission: 20 February, 2014

(Mohammed Moin Uddin Reza)

Mohammed Moin Uddin Reza

Date: 20th February, 2014.

Declaration of the Report

Background of the Study

Objective of the Study

Structure of this Thesis

Recommendations and Conclusion

Department wise Respondents

Gender wise Respondents

Score of Alternative Options used

Greater business involvement with societal causes bears testimony of

Companies with well-defined code of business conduct will

showcase more ethical behavior than companies without it

Management takes stern action against unethical practices as soon as

these are reported and proved

Adherence to ethical practices does not add profit to a firm

Ethical behavior can be ensured by strict adherence to laws and

Compliance with legal requirements is more important than showing

perfection of business ethics

Businesses engage in corruption, malpractice and immoral activities

by force (Intense competition, unreasonable target, taking control of

Knowledge of business ethics is very important for the owners and

Business students are unlikely to change their moral outlook because

they took an ethics course

The recruitment policy of the companies employs nepotism and

favoritism in selecting candidates

Offering a gift or bribe to secure a business contract is not unethical

Businesses view natural resources as free and unlimited goods

available for their use

Companies do not make gender discrimination and provide safe and

harassment free environment for female workers

Businesses publicize untrue, fabricated and exaggerated information

Companies with well-defined code of business conduct will showcase more

ethical behavior than companies without it

Management takes stern action against unethical practices as soon as these

are reported and proved

Adherence to ethical practices does not add profit to a firm

Ethical behavior can be ensured by strict adherence to laws and regulation

Compliance with legal requirements is more important than showing ethical

perfection of business ethics

Businesses engage in corruption, malpractice and immoral activities by

force (Intense competition, unreasonable target, taking control of scarce

Knowledge of business ethics is very important for the owners and

took an ethics course

The recruitment policy of the companies employs nepotism and favoritism

Offering a gift or bribe to secure a business contract is not unethical

Companies do not make gender discrimination and provide safe and

harassment free environment for female workers

Businesses publicize untrue, fabricated and exaggerated information about

1.1 Background of the Study

1.2 Objective of the Study

Illustrating what variables can ensure a sound ethical practice in business.

1.3 Research Limitations

1.4 Structure of the Study

2.1 Data Collection

2.2 Research Methodology

Accounting & Information Systems

Respondents Percentage (%)

Table 2.1: Department wise Respondents