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Ethics

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  • 1. BUSINESS ETHICS PRESENTED BYMukta chughSonali LachhaniDishant NagraniDheeraj RamchandaniJuhi Makhija
  • 2. ‘A business that makes nothing but money is a poor business.’ Henry Ford
  • 3. Difference Moral principles by which peopleEthics conduct themselves personally, socially, or professionallyBusiness Rules based on moral principles aboutethics how businesses and employees ought to conduct themselves
  • 4. BUSINESS ETHICSMEANING Business Ethics deals with morality in the business.it is a system of moral principles and values applied to business activities.This means the business activities should be conducted according to ethics or moral standards.
  • 5. Three levels of applicationBusiness ethics can be applied at three levels: –the individual employee, –the organization, –the society.
  • 6. Who is responsible for creating ethics in an organization?
  • 7. FEATURES OF BUSINESS ETHICSCODE OF CONDUCTPROVIDE PROTECTION TO SOCIAL GROUPPROVIDE BASIC FRAME WORKNEED WILLING ACCEPTANCEEDUCATION AND GUIDANCENOT AGAINST FAIR PROFIT MAKING
  • 8. Why Be Ethical in business?1. Higher Trust2. A better reputation3. Higher shareholder value.
  • 9. Why fostering Good Business Ethics is important??? CHECKING BUSINESS MALPRACTICES IMPROVING CONSUMER CONFIDENCE BUSINESSMEN TO BE CONSCIOUS OF SOCIAL RESPONSIBILITIES PROTECT CONSUMER RIGHTS CREATE GOOD IMAGE OF BUSINESS
  • 10. HOW BUSINESS CAN “GET IT”Organizations that Promote an “Ethical Climate” provide an Opportunity to develop an “Ethical Culture”
  • 11. 7 Principles Of business ethics• Be trustful• Accept the social responsibility• Meet Obligations• Have clear documents• Become community involved• Maintaining accounting control• Be respectful
  • 12. ETHICAL AND UNETHICALHAVING MORAL VALUES • NO VALUES NO ETHICSFAIR PRICES • SHORT WEIGHTS ANDFAIR WAGES MEASURES • SUPPY INFERIOR QUALITY
  • 13. Ethical v/s UnethicalETHICAL V/S UNETHICAL
  • 14. Ethical Tests
  • 15. DISCUSSION QUESTIONSuppose you have a customer who knowsnothing about the product she is buying. Youthink she will buy any model you recommend.- Is it your duty to sell her the mostexpensive model in the store? Explain.
  • 16. DISCUSSION QUESTIONSuppose you are getting paid less than youthink you deserve. Could that justifystealing from the company or goofing off on thejob?What other options might you have to remedyyour dissatisfaction?
  • 17. 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.
  • 18. “GOOD ETHICS IS GOOD BUSINESS” Thank you