Business Ethics

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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

  1. 1.  KAUSTUBH BARVE  WILBERT EMMANUAL  SHIKHA AGARWAL  AKHILA WUNNAM  AYENI NACHAN  PREETI C
  2. 2. 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. 
  3. 3.  The term “ethics” is derived from the greek word “ETHOS” which refers to character or customs or accepted behavior.
  4. 4.  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.
  5. 5. Nine major theories have all been created to explain ethics and determine whether a decision is ethical or not
  6. 6.          SITUATIONAL ETHICS CONSEQUENTIAL ETHICS VALUE ETHICS UTILITARIAN ETHICS MORALISTIC ETHICS ETHICAL REALISM ETHICAL HIERARCHIES PRINCIPLE ETHICS MORAL DEVELOPMENT
  7. 7.     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
  8. 8.    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
  9. 9.   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
  10. 10. 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
  11. 11. THREE ETHICAL THEORIES METAETHICS NORMATIVE ETHICS APPLIED ETHICS
  12. 12. METAETHICS METAPHYSICAL ISSUES PSYCHOLOGICAL ISSUES LINGUISTIC ISSUES
  13. 13.  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
  14. 14. THEORIES OF NORMATIVE TELEOLOGICAL ETHICAL THEORY DEONTOLOGICAL ETHICAL THEORY VIRTUE ETHICS
  15. 15. 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. 
  16. 16.  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 
  17. 17.    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.
  18. 18.         CODE OF CONDUCT UNIVERSAL APPLICATION RELATIVE TERM NEW CONCEPT DETERMINES ISSUES DESCRIBES AND DIFFERENTIATES PROTECTION SUPPORTS EXPANSION
  19. 19. EMPIRICAL APPROACH  INTUITIVE APPROACH  RATIONAL APPROACH  REVELATION APPROACH 
  20. 20.  SURVIVAL  ONLY PROFIT IS NOT ACCEPTABLE  A FIRM NOT PERFORMING WELLIS CONSIDERED AS LIABILITY
  21. 21. GAINED POPULARITY IN 1980’s AND 1990’s CORPORATEs LIKE TATA’s , BIRLA’s , RELIANCE ARE PIONEERS IN FIELD OF BUSINESS ETHICS
  22. 22.        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
  23. 23.      MISSION OR VALUE STATEMENTS CODE OF ETHICS ETHICS MANAGERS, OFFICERS & COMMITTEES ETHICS EDUCATION AND TRAINING PEER REPORTING OF UNETHICAL BEHAVIOUR
  24. 24. THANK YOU 

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