Business Ethics
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Business Ethics

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Ethics is : ...

Ethics is :
The study of standards of conduct and moral judgment, moral philosophy
A treatise on this study
The study or code of morals of a particular person, religion, group, profession, etc.

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Business Ethics Business Ethics Presentation Transcript

  •  KAUSTUBH BARVE  WILBERT EMMANUAL  SHIKHA AGARWAL  AKHILA WUNNAM  AYENI NACHAN  PREETI C
  • Ethics is : 1. The study of standards of conduct and moral judgment, moral philosophy 2. A treatise on this study 3. The study or code of morals of a particular person, religion, group, profession, etc. 
  •  The term “ethics” is derived from the greek word “ETHOS” which refers to character or customs or accepted behavior.
  •  ETHICS is a branch of philosophy that addresses questions about morality that is, concepts such as good and bad, noble and ignoble, right and wrong, justice and virtue.
  • Nine major theories have all been created to explain ethics and determine whether a decision is ethical or not
  •          SITUATIONAL ETHICS CONSEQUENTIAL ETHICS VALUE ETHICS UTILITARIAN ETHICS MORALISTIC ETHICS ETHICAL REALISM ETHICAL HIERARCHIES PRINCIPLE ETHICS MORAL DEVELOPMENT
  •     Ethics is a requirement for human life. Without it our actions would be random and aimless They give us a baseline for what is wrong and right . Ethics help us to have a ready understanding of how to react to a certain situation before it happens They act as our mediator when dealing with people. If we have wrong sense of ethics we will react to people in a negative manner
  •    Ethics and Morality are not same Ethics is the principle that guides human behavior Morals are related to traditional beliefs, customs and conventions that guide man’s social behavior
  •   Ethics is the science of conduct. It deals with certain standard conduct and morals Law is a code of conduct which the authority in power prescribes for society
  • ETHICS LAW The scope of ethics is broad The scope of Law is narrow Ethics means the rules or principles that define right or wrong conduct Laws are written rules about what is right and what is wrong in various walks of life People who reject Ethical Principles have to face social boycott If People don’t obey laws, they are subjected to punishments Ethics does not use force Law uses force when necessary It is not backed by power It is backed by power Ethics concentrate on what should be done Law concentrates on what should not be done
  • THREE ETHICAL THEORIES METAETHICS NORMATIVE ETHICS APPLIED ETHICS
  • METAETHICS METAPHYSICAL ISSUES PSYCHOLOGICAL ISSUES LINGUISTIC ISSUES
  •  The term Normative Ethics implies something that guides or controls  Thus, Normative Ethics is the branch of ethics that guides human conduct  It sets out certain moral standards that helps us to determine what is right and what is wrong
  • THEORIES OF NORMATIVE TELEOLOGICAL ETHICAL THEORY DEONTOLOGICAL ETHICAL THEORY VIRTUE ETHICS
  • Applied Ethics is a branch of ethics that deals with specific, often controversial moral issues in different fields which are as follows : 1. Medical Field : Abortion, Female Foeticide and Infanticide, etc. 2. Business Fields : Misleading Advertising, insider trading, bribery, corruption, etc. 3. Others : Displacement of tribal people due to hydroelectrical projects, cloning, testing drugs on animals, etc. 
  •  Altruism revolves around the question of morality ‘ I ought to act in the interest of others’.  Example of Altruism is Politician donates money to a charity because it is the right thing to do, is the honest act of altruism But, politician who donates money to a charity in order to gain favorable public opinion is not the act of altruism 
  •    Egoism revolves around the question “ I ought to act in the interest of myself” It states that people must do what is best for themselves in order to live a morally correct life In some cases of egoism, the idea of acting out one’s self interest sometimes even extends to overlooking other’s interests in order to satisfy your own.
  •         CODE OF CONDUCT UNIVERSAL APPLICATION RELATIVE TERM NEW CONCEPT DETERMINES ISSUES DESCRIBES AND DIFFERENTIATES PROTECTION SUPPORTS EXPANSION
  • EMPIRICAL APPROACH  INTUITIVE APPROACH  RATIONAL APPROACH  REVELATION APPROACH 
  •  SURVIVAL  ONLY PROFIT IS NOT ACCEPTABLE  A FIRM NOT PERFORMING WELLIS CONSIDERED AS LIABILITY
  • GAINED POPULARITY IN 1980’s AND 1990’s CORPORATEs LIKE TATA’s , BIRLA’s , RELIANCE ARE PIONEERS IN FIELD OF BUSINESS ETHICS
  •        STANDARD OF BEHAVIOUR TRUE NORTH PRINCIPLE TO LEAD BUSINESS MORAL VALUES OF EMPLOYEES VALUE BASED LEADERSHIP CREATES ETHICAL PRACTISES SHORT TERM GAIN AND LONG TERM PAIN V/S SHORT TERM PAIN AND LONG TERM GAIN STRONG INDEPENDENT BOARD ROLE OF I.T. AND BUSINESS ETHICS
  •      MISSION OR VALUE STATEMENTS CODE OF ETHICS ETHICS MANAGERS, OFFICERS & COMMITTEES ETHICS EDUCATION AND TRAINING PEER REPORTING OF UNETHICAL BEHAVIOUR
  • THANK YOU 