Perceptions of Principals, Teachers, Parents and Students Regarding Follow Up of Business Ethics as Economic Adjustment of Students in Society

1. Ph. D. Scholar, Department of Education & Research, University of Lakki Marwat, KP, Pakistan 2. Ph. D. Scholar, Department of Education & Research, University of Lakki Marwat, KP, Pakistan 3. Principal, Government Higher Secondary School Ismail Khel, Bannu, KP, Pakistan PAPER INFO ABSTRACT Received: April 12, 2020 Accepted: June 15, 2020 Online: June 30, 2020 Business ethics is a code of conduct comprised of social principles and morality for doing business; its purpose is to focus on business practices and policies. A cross-sectional study was conducted. All male Principals, Teachers, Parents, and students of Public, Private Schools, and Deeni Madaris in Southern districts of KP including Kohat, Karak, Bannu, LakkiMarwat, D.I. Khan and Tank were taken as the population of the study. The total numbers of (n=1500, respondents) were taken as samples of the study from the entire population by applying the L. R. Gay sample size rule of thumb. Convenient, stratified, simple random, and disproportionate sampling techniques were used. Data was collected from the respondents via a questionnaire of six points Likert scale and was statistically analyzed through SPSS by using frequency and One Way ANOVA by providing vital information for policymakers and stakeholders. In light of the results and conclusions of the study, it was revealed that business ethics play a significant role in better earning and economic adjustment of students in society


Introduction
Business ethics is a code of conduct which is comprised of social rules (Principles) and morality for doing business (Ashman &Winstanley, 2006). Business ethics include consumer protection, consumer welfare, and fair dealings with others in society (Chan, 2008). Sincere developed and experienced businessmen provide better services to society (Freeman, 2008). It is very significant for the true and trustworthy businessmen to avoid others' exploitation in business matters and to earn more and more in the best technical way along with the promoting society from a business point of view (Hartman, 2001). Well-developed businessmen always attract their customers by using polite and loving attractive attitudes during their dealings, sales, and profit in the market and such types of businessmen increase productivity in business for the welfare of the whole society (Heath, 2006). Heath, Moriarty and Norman, (2010) found that business ethics mean study regarding practices and policies of the business. According to (Heath & Norman, 2004), personal loyalties, organizational, legal, and economic responsibilities are included in business ethics. (Marcoux, 2003) explained that business ethics are comprised of official (representative) responsibilities and technical morality. (Moriarty, 2005) mentioned that businessmen aware of business ethics always follow ethical principles such as principles of justice, accountability, and fairness, etc. due to which they earn money in a better way. (Néron& Norman, 2008) illustrated that expert and well-experienced businessmen do moral judgment of an individual regarding right and wrong; good and bad; fair and unfair due to which customers are positively attracted to them. (Norman & MacDonald, 2010) revealed that a businessman knowing business ethics makes better business-related decisions and treat customers politely and friendly. Orts and Strudler, (2010)demonstrated that a well-developed businessman is fully aware of business ethics; he respects others' beliefs and justice in business dealing. (Abend, 2011) pointed out that advanced businessmen never hurt their customers; they always promote goodness among others in the business market. (Amato & Amato, 2007) highlighted that business ethics i.e. honesty, respect, fair dealing, politeness, and patience to get success in the business market. (Choi & Wang, 2007) cited that acceptance of social responsibilities and polite behaviors are highly beneficial for a businessman everywhere in the business market. (Craft, 2013) elaborated that expert businessmen strictly follow the business code of conduct, social and moral principles to do better business. (O'Fallon & Butterfield, 2005) stated that the key principles and ethics of business include protection of the consumer, fair treatment with the customers and never to exploit others in life especially in business matters. Cheney et al., (2010) found that qualities like confidence, sincerity, and fairness in business, efficiency, struggle for better services and products, etc. are all those factors of business ethics that are directly associated with businessmen through which every businessman can enhance his economy up to the zenith of successful marketing (selling). (Velasquez, 2006) pointed out that maintaining customer's trust, avoiding, and discouraging unethical business issues like bribery, fraud, fake approach in business, and dishonesty are the key steps to further polish business ethics and strengthen one's economy within a short period. (Burcea&Croitoru, 2014) revealed that successful businessmen never favor discrimination in business dealings; they never practice inequality and carelessness in business privacy because they perceive all these activities issues, blocks, and violations of business rules, regulations, and business ethics.

Nature of the Study
The study was cross-sectional.

The population of the Study
All Public Private Schools and Deeni Madaris in Southern Khyber Pakhtunkhwa, Pakistan were the Populations of the study.

Target Population of the Study
The total numbers of (N = 405957) respondents including male Principals, teachers, parents and students of Public, Private Schools and DeeniMadaris in six districts (Kohat, Karak, Bannu, LakkiMarwat, D.I.Khan, and Tank) of Khyber Pakhtunkhwa, Pakistan were taken as the target population of the study as per constitution 25 th amendment Act/KP/Section 6/Chapter-II/Land Govt. of KP Board of Revenue & Estate Department Peshawar/dated:19.07.2018 in which 148995 respondents were taken from Public Schools; 82784 respondents from Private Schools; and 174178 respondents were from DeeniMadaris respectively as shown in the self-explanatory table above:

Samples of the Study
The total numbers of (n= 1500, respondents including Principals, Teachers, Parents, and students) in six districts (Kohat, Karak, Bannu, LakkiMarwat, D.I.Khan, and Tank) in Khyber Pakhtunkhwa were taken as samples of the study.

Sample Size of the Study
Out of (n = 1500, sampled respondents) including Principals, Teachers, Parents, and students; (n = 500, respondents) were categorically taken as samples from each category (

Sampling Techniques
Simple random, disproportionate, stratified, and convenient (judgmental) sampling techniques were used.

Data Collection Tool (Instrumentation)
Data was collected through a questionnaire of six points Likert scale with options Strongly Agree, Agree, Slightly Agree, Slightly Disagree, Disagree and Strongly Disagree carrying values 1, 2, 3, 4, 5, 6 respectively.

Pilot Testing
The validity of the questionnaire was done through experts in the field of education and rectification in the questionnaire was fully ensured. The refined questionnaire was then distributed amongst the respondents for reliability. Content and face validity of the items were also ensured under the supervision of the supervisor and other professionals.

Reliability of Instrument
The researcher used split-half reliability to analyze and assess the internal consistency of the research instrument. Cronbach's alpha was used for the determination of internal consistency among the different measures of the study. The Cronbach's alpha result was found reliable as well as acceptable as shown as in the table below:

Data Analysis
Data was statistically analyzed through SPSS by using frequency and One Way ANOVA. The frequency table provides variation in the responses of the respondents about Business Ethics as economic adjustment of students in society from different angles i.e. Public, Private Schools, and Deeni Madaris; whereas One Way ANOVA indicates comparison amongst the responses of the respondents of Public, Private Schools, and Deeni Madaris.

Table 04 Business Ethics (ANOVA)
Table 04 reveals that the Mean Value of teachers is maximum i.e. 25.541 with the significant value (.000) and after that the Mean Value of principals i.e. 24.964 with the significant value (.000), then students i.e. 22.639 with the significant value (.000) and at last parents i.e. 18.671 with significant value (.000). So it is clear from the findings that the perceptions of teachers regarding students studied in the public, private schools and Deeni Madaris having significant influence in the society. Overall results elaborate that the p-value is less than 0.05 for all four groups under study which means that there is significant Group Mean difference in responses of the respondents about the statement regarding "Business Ethics" related to the economic adjustment of the students in society. So it is interpreted that these results are generalizable.

Conclusion
The results of the study indicate that teachers of Public, Private Schools and Deeni Madaris were found more anxious and in favor of business ethics about economic adjustment of students in society. Principals were also in favor to encourage students regarding business ethics for their better earning, economic stability, and economic adjustment in society but the responses and perceptions of parents in this regard were not serious towards students' approach towards business ethics. From an institutional point of view, the DeeniMadaris trend was found more inclined towards business ethics rather than Public and Private Schools. According to the research study of Duong Thi Hoang Yen, in 2016 titled "Business Ethics" in Centria University of Applied Sciences, those students have no much knowledge about business ethics because students are young, tension free and careless at this age. They have no such business experiences at this stage. Duong Thi Hoang Yen further mentioned that students need much experience with people, businesses, economies, business market; they need awareness, trust, and knowledge regarding earning at this age. Human resources are ought to provide them all the said needs to avail the business opportunity and attain the desired objectives i.e. follow up of business ethics for earning purposes and economic adjustment in society.
Students of this modern and digital world are advised and emphasized fully understand and learn digitalization as well as globalization of business to easily overcome all business ethics and its related matters or activities (Nuseir&Ghandour, 2019). No doubt, digital media, internet, computer techniques, recent innovations in 2020, latest technological resources like skype, Facebook, Whatsapp, IMO, Instagram, android mobile with its functions as a minicomputer, email and all others technological resources are highly essential and mandatory to understand and get practical command over all these technological resources which are very vital for understanding and knowing the basic ethics of business strengthen economic in a true sense (Warren, 2011). Communication, promoting sales and marketing, business procedures, and accounting expertise are all important business ethics to practically and successfully follow and adopt in business matters, marketing, and all business activities (Gangone, 2010). Dealing with customers, company dealers, employees, businessmen, the basic concept of loss, profit, progress, awards and tackling warning in business, etc. on the behalf of different circumstances in the world of business are all the main and significant factors of business ethics to understand and act upon it for economic growth and economic stability in life (Shabbir, Ghazi &Mehmood, 2016). Therefore, it is concluded from the study that teachers were more interested in students to follow up on business ethics for their better economic stability and adjustment in society. Parents were not serious in this matter while previous studies regarding business ethics as earning sources and economic adjustment of students in society indicated that students are not fully mature at this age; they are not in the position to accept business or earning types responsibilities and strengthen their economy via business ethics but human sources would develop the experiences, trust, awareness about business ethics, business market, people in society and business dealing, etc.

Recommendations
The following recommendations were suggested in light of the objectives and results of the study:  All principals, teachers, and parents of Schools and Deeni Madaris may now and then encourage students to follow up on business ethics for their economic stability and economic adjustment in society.
 The government, as well as wealthy public, may ensure all economic facilities and resources to Schools and Deeni Madaris students to practically follow their business ethics and strengthen their economy.
 Proper seminars, workshops, and special programs may be conducted and ensured for Schools and Deeni Madaris students regarding business ethics and economic stability to reduce poverty and unemployment.
 Parents of Schools and Deeni Madaris students may hire the responsibilities of local businesses to students during their part-time hours to strengthen their economy; and such activities are already practiced in advanced countries like China, USA, UK, Norway, and France, etc. Therefore, the same activities may also be practiced in Pakistan.
 The teachers of Schools and Deeni Madarismay always instigate their students to actively participate in all those programs, workshops, and seminars that develop their business knowledge and business ethics so that they may enable them to economically adjust themselves in society in this modern era of 2020 and onward future to come.
 The researcher may do interesting research work on "Students' Follow up of Business Ethics for Their Economic Adjustment in Society" after getting insight from this article in the future.