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BUSINESS ETHICS

Presentation by Paromita Mukherjee

WHAT IS ETHICS
Ethics may be referred to some standardized form of conduct or behavior of individuals understood and accepted in a particular field of activity The work ETHICS has its origin in Greek word Ethics means character, norms, morals and ideals prevailing in a group and society. Ethics is a mass of moral principles or set of values about what conduct ought to be. They give an idea what is right or wrong, true of false, fair or unfair, just or unjust, proper or improper, e.g. Honesty, obedience, equality, fairness, etc and respect and then doing the right thing

WHEN AND WHERE DO WE DEVELOP ETHICAL VALUES?


According to those who study the history and philosophy of ethics, infants would not survive without a nurturer who teaches them about right and wrong behavior. In human society, a series of nurturer and teachers influence the ethical views of each individual.

BUSINESS ETHICS
Carter McNamara has defined: Business ethics is generally coming to know what is right and wrong in the workplace and doing what is rightthis is in regard to efforts of products/ services and in relationships with stakeholders. Attention to ethics in the workplace sensitizes managers and staff to how they should act so that they retain a strong moral compass.

BUSINESS ETHICS
Interest in business ethics has been increasing since 1960s Interest has been spurred by headlines of business scandals A 1982 study reported that of the Fortune 500 companies,115 companies (23%) had been convicted of at least one major crime or paid penalties of serious misbehavior Is the importance of business ethics declining in business and government practices? Greater focus on ethics, morals and values.

Global Ethical Issues


Wages and hours Child labour Discrimination Legal and ethical business practices

Product safety and quality


Environment

Even if we know we can get away with doing something wrong, even if no one ever discovers what we are up to, our vice harms us more than it hurts any of our victims.
-SOCRATES

FACTORS THAT AFFECT ETHICAL BEHAVIOUR


INDIVIDUAL CHRACTERECTICS

ISSUE INTENSITY

ETHICAL DILEMA

STAGES OF MORAL DEVELOPMENT

MODERATORS

ETHICAL / UNETHICAL BEHAVIOUR

STRUCTURAL CHARECTERISTICS OF ORGANIZATION

ORGNIZATIONAL CULTURE

What causes unethical behaviour


Stress Confusion

Pressure to perform at expected levels


Competition within the industry No knowledge

Some of the Unethical Business practices are :


Cutting corners on quality

Covering up incidents
Abusing or lying

Lying customers
Stealing from the company Taking credits from co-workers ideas/work Taking or giving bribe

Unethical business practices (contd)


Government corruption Financial scandals Product safety discrimination Sexual harassment Firing an employee for whistle blowing Divulging confidential information

Whats in it for me to be ethical?


-

A more accurate perception of the world around you, follow your conscience. when it is hard or costly.

-Have the courage to do what is right and do try new things even

-Dont loose heart if you fail or dont get what you want

-A stronger personality, and greater likelihood of being happy in

life

CONSIDER CONSEQUENCES
IS IT ETHICAL ? IS IT LEGAL ? IS IT OK ? IS IT RIGHT ? Is it fair ? Does it hurt anyone ?

Have I been honest with those affected?


Can my conscience live with this decision ?

CONCLUSION
In the last few years we have seen a drastic change in society as well as in all facets of the business world. The consumer, today, is more aware of his rights and his requirements. He demands the best quality at the regular prices. Companies today need to incorporate a strong or responsible culture to face the instance reaction of the consumer. Todays market calls for stringent business ethics to be imposed in the corporate world.

BIBLIOGRAPHY
Ethics in Business- ROBERT.B. MADDUX
DOROTHY MADDUX

Business Ethics and Managerial Values


S.K. BHATIA

http://www.mapnp.org/library/ethics/ http://www.uwm.edu/People/andrewk/