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ethics
DR. AARUSHI JAIN
MEANING
Ethics is a set of rules that define right and
wrong conduct.
Business ethics can be defined as written and
unwritten codes of principles and values that
govern decisions and actions within a
company. In the business world, the
organizations culture sets standards for
determining the difference between good and
bad decision making and behavior.
Introduction
Business Ethics
Publics interest in business ethics increased
during the last four decades
Publics interest in business ethics spurred by
the media
Societys
Expectations
of Business
Ethics
Ethical
Problem
Actual
Business
Ethics
Ethical Problem
1950s
Time
Early 2000s
Introduction
Inventory of Ethical Issues in
Business
Employee-Employer Relations
Employer-Employee Relations
Company-Customer Relations
Company-Shareholder Relations
Company-Community/Public Interest
Introduction
Inventory of Ethical Issues in
Business
Employee-Employer Relations
Employer-Employee Relations
Company-Customer Relations
Company-Shareholder Relations
Company-Community/Public Interest
Definitions
Ethics involves a discipline that examines
Ethics
Law
ETHICS (Cont)
Ethics means norms for the conduct of people
in social groupings.
Ethics is derived from Greek Word Ethos
which means culture the prevalent
behaviour in the society. Thus, it is a code of
conduct which has social acceptance.
Example of Ethics
Tatas have been at the forefront in establishing
compared with
Prevailing norms
of acceptability
Value judgments
and perceptions of
the observer
12
13
ETHICS
Owners/Shareholders - Expect good return on
their investment
Employees - Expect respect for their worth &
devoting their energies to firm
Customers - Expect reliable, safe product or
service at fair prices
Suppliers - Expect equitable relationship with
firm
Community - Expect businesses to be good
citizens in their community
BUSINESS ETHICS
BUSINESS ETHICS
principles and standards that
determine acceptable conduct in
business organizations
ETHICAL ISSUE
an identifiable problem, situation, or
opportunity that requires a person to
choose from among several actions
that may be evaluated as right or
wrong, ethical or unethical
Moral
Amoral
Immoral
19
Amoral Management
Intentional - does not consider ethical factors
Unintentional - casual or careless about
6-23
Be Trustful
Keep An Open Mind
Meet Obligations
Have Clear Documents
Become Community Involved
Maintain Accounting Control
Be Respectful
Shareholder Perspective
Those who approach
Stakeholder Perspective
Stakeholders may
include: employees,
suppliers, customers,
competitors, government
agencies, the news
media, community
residents and others. The
idea behind stakeholder
based ethical decision
making is to make sound
business decisions that
work for the good of all
affected parties
Corporate social
responsibility
Fiduciary responsibility,
stakeholder concept v.
shareholder concept
Industrial espionage.
IMPORTANCE OF ETHICS
33
34
ambiguity
Integration of managerial and moral
competence
A sense of moral obligation
35
RELIGIOUS VIEWS
ON BUSINESS
ETHICS
CONCLUSION
Ethics are important not only in
business but in all aspects of life
because it is an essential part of
the foundation on which of a
civilized society is build. A
business or society that lacks
ethical principles is bound to fail
sooner or later.
THANK YOU