PROFESSIONAL ETHICS MN 4900

FUNDERMENTAL CONCEPTS

Faculty of Engineering, University of Moratuwa

3rd & 7th September 2018

TOPICS
 Values
 Ethics
 Importance of Ethics
Organizational ethical decision
making – role of ethical culture
and leadership
 Introduction to Values
 A Value is a belief, a mission, or a philosophy that is
meaningful. Whether we are consciously aware of them or
not, every individual has a core set of personal values.
Values can range from the commonplace, such as the belief
in hard work and punctuality, to the more psychological,
such as self-reliance, concern for others, and harmony of
purpose.
 Values are psychological objects. Although we cannot see or
touch them, they are every bit as real as any physical
object. People may dedicate their entire lives or even give
up their lives to pursue their values, as so many loyal
patriots have done fighting for values of freedom, equality
and human rights during the past two centuries.
 Values are idealized conceptions that are endorsed by the
personality.
 VALUE – the definition
1. relative worth, merit, or importance: the value of an university
education.
2. monetary or material worth, as in commerce or trade: This piece of land
has greatly increased in value.
3. the worth of something in terms of the amount of other things for
which it can be exchanged or in terms of some medium of exchange.
4. equivalent worth or return in money, material, services, etc.: to give
value for value received.
5. estimated or assigned worth; valuation: a house with a current value of
Rs.12.5M.
6. denomination, as of a monetary issue or a postage stamp.
7. Mathematics : magnitude; quantity; number represented by a figure,
symbol, or the like: the value of an angle; the value of x; the value of
a sum.
8. import or meaning; significance: the value of a word
9. liking or affection; favourable regard; he values her friendship
10. values, Sociology . the ideals, customs, institutions, etc., of a society
toward which the people of the group have an affective regard. These
values may be positive, as cleanliness, freedom, or education, or
negative, as cruelty, crime, or blasphemy.
LISTS OF VALUES
 Accountability  Guidance  Resourcefulness
 Accuracy  Honesty  Responsibility
 Achievement  Honour  Self-respect
 Sincerity
 Acknowledgement  Integrity  Stability
 Activeness  Humility  Structure
 Calmness  Inventiveness  Success
 Capability  Knowledge  Synergy
 Teamwork
 Care  Leadership  Trustworthiness
 Community  Learning  Truth
 Compassion  Loyalty  Vision
 Wisdom
 Duty  Preparedness
 Worthiness
 Dynamism  Professionalism  Zeal
 Economy  Punctuality
 Education  Rationality
 Efficiency  Reason
 Environmentalism  Recognition
and many, many more !!!
 Excellence  Reputation
Characteristics of Value

•These are extremely practical, and valuation requires not

just techniques but also an understanding of the strategic
context.
•These can provide standards of competence and morality.
•These can go beyond specific situations or persons.
•Personal values can be influenced by culture, tradition, and a
combination of internal and external factors.
•These are relatively permanent.
•These are more central to the core of a person.
PERSONNAL VALUES !!
 Values can be defined as broad preferences concerning
appropriate courses of action or outcomes.
 As such, values reflect a person’s sense of right and
wrong or what “ought” to be.

 Values are obtained in many different ways.

 Person's family – the family is responsible for
teaching children what is right and wrong long
before there are other influences..
 School - school helps some to shape the values of
children.
 Religion - that the family introduces to a child,
plays a role in teaching the right and wrong
behaviors.
CORE VALUES
 Core values are the fundamental beliefs of a person or
organization.
 The core values are the guiding principles that dictate
behavior and action.
 Core values can help people to know what is right from
wrong; they can help companies to determine if they
are on the right path and fulfilling their business goals;
and they create an unwavering and unchanging guide.
 There are many different types of core values and
many different examples of core values depending upon
the context
 Core values don't always have to be positive. Some
people may be driven by self-interest or greed, and
these are core values too if they dictate the way the
people live their lives.
CORPORATE CORE VALUES
Practically all business organizations have Core Values around
which they develop their operating principles. They can be defined
as “the values that are most important to the direction of the
organization and the decision-making within it.”
They are usually expressed in the “MISSION STATEMENT”

Some examples of core values for a company might include:

 A commitment to sustainability and to acting in an
environmentally friendly way. Companies like Dipped Products
Ltd have environmental sustainability as a core value.
 A commitment to excellence and superior performance,
achieved with corporate responsibility and sustainability, as
practiced by Colombo Dockyards Ltd.
 A commitment to doing good for the whole. John Keells, for
example, believes in building a great company, doing things
correctly and constantly improving..
CORPORATE CORE VALUES
 Durdans Hospital plc aim to lead the Sri Lankan
healthcare sector, providing preventive and
compassionate patient care.
 MAGA maintain uncompromising standards to ensure
that their projects are carried out with the utmost
speed, care and accuracy

Many of the core values that companies have are similar to

those that individuals might choose as their guiding
principles as well.

Companies may also have negative core values as well.

Companies that are solely motivated by profit, such as
tobacco companies who lied to their customers about the
dangers of smoking, may have been driven by core values
of self-interest and an overly strong profit motive.
Core Values: John Keells
Holdings PLC
Our values

“We are passionate about -

• Changing constantly, re-inventing and evolving

• Striving to get things right the first time
• Doing the right things always
• Constantly raising the bar
• Fostering a great place to work
• Building strong relationships based on openness and
trust”
 Vision :
We pursue excellence and superior performance in all
what we do to enhance the long-term interests of all
our stakeholders in a socially responsible manner
Mission: We strive,
 To be the most competitive and viable business
entity in the South in Shipbuilding, Ship-repairs,
Heavy Engineering and allied activities:
 To efficiently and effectively manage all our
resources:
 To achieve sustainable growth:
 To enhance the interests of our Stakeholders, and
thereby contribute to the pursuit of our vision:
Core Values
 Our Values
 We passionately believe in what we do, and we
do it with the utmost care, speed and
accuracy to the best of our ability. Our
standards and values are of supreme priority
and are not to be compromised. We ensure
that our clients, members of our team and
society at large are well cared for. We believe
in being ethical in everything we do and
consider it the primary road to our personal
and organizational success.
DPL strives to be the preferred global
hand protection provider. We are
committed to the continual improvement
of our business processes and systems.

We shall comply with environmental and

social obligations, meet the aspirations
of our employees, suppliers and
shareholders and build relationships of
trust
DURDANS HOSPITALS
 VISION
 At the forefront of medical excellence, defining the future
of Sri Lankan healthcare.
 MISSION
 To enhance the lives of our community at large, by unfolding
a paradigm shift in all service tiers and excelling in
preventative and compassionate patient care

 VALUES
 EMPOWERING PRIDE
 We attract, inspire and motivate passionate individuals
 DEDICATED COMPASSION
 We create heartfelt, customer-centred experiences
 ADVANCING MEDICAL EXCELLENCE
 We drive the medical industry towards greater heights
 PRESTIGE BEYOND OUR BORDERS
 Enhancing our reputation beyond Sri Lanka
Values Ethics
 Ethics of an individual or an organization are based on
“values”, which are perceived to be most important to the
direction of the organization and the decision-making within
it.
 These are essentially the “core values”
 They can be put together in a structured form to make-up a set
of essential principles, which will ensure that organisations act
in a correct and acceptable manner

 This is called a “Code of Ethics”

WHAT IS ETHICS ???
 The discipline dealing with what is good and
bad, and with moral duty and obligation

 The principles of conduct governing an

individual or group (professionals)
 WHAT IS ETHICS ???
The value structure that guides the actions of a
person, whether individual or corporate, in
his/her/their dealings with any other person, or
with society in general.
Values Ethics

 The Code offers a set of values, principles, and

standards to guide decision making and conduct when
ethical issues arise.

 Specific applications of the Code must take into

account the context in which it is being considered and
the possibility of conflicts among the Code‘s values,
principles, and standards.

 Ethical responsibilities flow from all human

relationships, from the personal and family to the
social and professional.
The Importance of a Code of Ethics

 Ethical codes are often adopted by

management, not to promote a particular
moral theory, but rather because they are
seen as pragmatic necessities for
running an organization / institution in
a complex society in which moral
concepts play an important part.
Why have a Code of Ethics?

 to define accepted/acceptable behaviours;

 to promote high standards of practice;
 to provide a benchmark for members to use
for self evaluation;
 to establish a framework for professional
behaviour and responsibilities;
 as a vehicle for occupational identity;
 as a mark of occupational maturity.
 The Importance of Ethics in an
Organisation
 Leadership Ethics
 The ethical standards that the Head of an organization
chooses to use in managing his/her employees may impact
on the morale and loyalty of the workers.
 When the Leaders have high ethical standards,
 Integrity, Honesty, not Corrupt
 Treat employees with respect
it encourages workers in the organization to strive to meet
that same level.
 Ethical leadership also enhances the company’s reputation in
the industry and the community.
The Importance of Ethics in
an Organisation
 Employee Ethics

 Ethical behavior among workers in an

organization ensures that employees complete
work with honesty and integrity.
 Employees who use ethics to guide their behavior
adhere to employee policies and rules while
striving to meet the goals of the organization.
 Ethical employees also meet standards for quality
in their work, which can enhance the company’s
reputation for quality products and service.
The Importance of Ethics in
an Organisation
 Ethical Organizational Culture
 Leaders and employees adhering to a code of
ethics create an ethical organizational culture.
 The leaders of a business may create an ethical
culture by behaving in an ethical manner and
inspiring their employees to behave in a similar
fashion.
 The organization can encourage ethical behavior
by rewarding employees who exhibit the values
and integrity that coincides with the company
code of ethics and disciplining those who do not
act accordingly.
The Importance of Ethics in
an Organisation
 Benefits to the Organization
 A positive and healthy corporate culture improves
the morale among workers in the organization,
which may increase productivity and employee
retention
 Correspondingly this has financial benefits for the
organization.
 Higher levels of productivity improve the
efficiency in the company, while increasing
employee retention reduces the cost of replacing
employees.
 A good reputation for ethics and integrity in the
community will improve the company’s business
ACKNOWLEDGEMENT:
 www.dictionary.com/browse/values
 https://iedunote.com/values - Values: Definition,
Characteristics, Importance, Types in Organizational
Behaviour
 Website of Dipped Products plc
 Website of John Keells Holdings plc
 Website of Colombo Dockyards plc
 Website of Durdans Hospital
 Website of MAGA
 Chron.com : Luanne Kelchner - The Importance of Ethics in
Organizations
THANK YOU !!!