Business & ethical framework

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  • 1. Ethics & Business Frame Works By Debasis Kundu, Sudipta Karmakar & Amitava Sengupta
  • 2. Major Issues • Five Principles of Ethical Power for Organisations • Business Ethics • Crisis of Ethics • Ethical Organisations
  • 3. Crisis of Ethics • Manifestations • Actors • Consequences
  • 4. Manifestations • • • • • Dishonesty Greed Arrogance Selfishness Consumerism
  • 5. Actors • All sections of the population across the world • Business • Government • Social Services (NGOs)
  • 6. Consequences • Social Unrest • Low productivity • Poverty and chaos
  • 7. Business Ethics There neither is a separate ethics of business, nor is one needed -Peter Drucker
  • 8. Six Pillars of Character 1. 2. 3. 4. 5. 6. Trustworthiness Respect Responsibility Fairness Caring Good Citizenship -Josephson Institute of Ethics
  • 9. Five Principles of Ethical Power for Organisations 1. Purpose 2. Pride 3. Patience 4. Persistence 5. Perspective
  • 10. 1. Purpose: The mission of the organisation is communicated from the top. The organisation is guided by the values, hopes and a vision that helps to determine what is acceptable and unacceptable behaviour
  • 11. 2. Pride People in the organisation feel proud of themselves and of their organisation. When they feel this way, they can resist temptations to behave unethically
  • 12. 3. Patience: People believe that holding to their ethical values will lead them to success in the long term. This involves maintaining a balance between obtaining results and caring how they achieve these results
  • 13. 4. Persistence: People have commitment to live by ethical principles. They are committed to their commitment. They make sure their actions are consistent with their purpose
  • 14. 5. Perspective: Managers and employees take time to pause and reflect, take stock of where they are, evaluate where they are going and determine how they are going to get there. -Kenneth Blanchard and Normal Vincent Peale
  • 15. FEW OF THE UNETHICAL PRACTICES OF COMPANIES : • The pay package dilemma – Timing of Salary to the Higher Ranked people in the organisation • Not paying the basic amenities for the internal development & securities • Often deductions from salaries done as per Government Rules & Regulations are not being filed properly • Hiring & firing the work force at their will with or without compensation • Misuse of funds & loans from bank for the personal gratitude of the Directors & (or) Owners • Showing or creating false assets / Capital – Thereby creating false notion to the general public to increase market price of share values • Buying in assets or acquiring them from improper or unethical source
  • 16. OTHER FEW WORK ETHICS WHICH ARE OFTEN FOUND MISSING OTHER FEW WORK ETHICS WHICH ARE OFTEN FOUND MISSING •• Differentiating between employees as per the preferences of the Differentiating between employees as per the preferences of the directors & not due to merit directors & not due to merit •• Misbehaving with the work force by Senior Management Misbehaving with the work force by Senior Management •• Sexual exploitation of Junior workers by Seniors being ignored Sexual exploitation of Junior workers by Seniors being ignored •• Not abiding by the law of the land Not abiding by the law of the land •• Selling substandard items to the customers after building up aa market Selling substandard items to the customers after building up market reputation reputation •• Misusing of law to harass outgoing / / enstranged employees Misusing of law to harass outgoing enstranged employees •• Knowingly creating loss to the company to wind up aa business which Knowingly creating loss to the company to wind up business which is not interesting to owner is not interesting to owner
  • 17. ETHICAL BUSINESS ORGANISATIONS
  • 18. Guiding Principles of JRD TATA • • • • • hard work striving for excellence fairness and honesty good human relations serving the needs/interests of the country and its people
  • 19. Our Promise to Customer With utmost respect to Human Values, We promise to serve our Customer with Integrity, Through a variety of Innovative, Value for Money, products and services, By Applying Thought, day after day’
  • 20. Ethical Guidelines • • • • Practising honest communication Enhancing human capabilities Fostering creative cultural diversity Promoting sustainable growth and ecoefficiency
  • 21. Business and Interest Groups EXTERNAL SOCIETY INTERNAL Shareholders Government Employees Law Special Interest Groups BUSINESS CONSUMER Suppliers Financial Institutions
  • 22. GDP Model of Ethical Values Chain & Social Values Chain GDP ---------------------------------Growth, Development & Progress Higher Order Purpose of Existence (HOPE) HRD -------------------------Honesty, Responsibility & Dedication JRD ---------------------------Justice, Rights & Duties HCL --------------------------Harmony, CoOperation & Love LCD --------------------------Love, Compassion & Devotion -Subhash Sharma
  • 23. THANKS TO Sir S. CHATTRJEE FOR HIS HELP AND GUIDANCE