3. “Value is view of life and a judgment of what is
desirable , which is very much a part of person’s
personality and a group’s morale”.
4.
5.
6.
7. Values are
• We do what we say
• We act decisively to create value
• We hold ourselves accountable
• We dare to be different
• We act with care
8.
9. • Business ethics is the study of how personal
moral norms apply to activities and goals of a
commercial enterprise .
• Business ethics operates as system of values
and is primarily concerned with the
relationship of business goals and techniques
to specifically human ends.
10. What Are Unethical Business Practices?
– Managers lying to employees
– Office nepotism and favoritism
– Taking credit for other’s work
– Stealing from the company
– Firing an employee for whistle-blowing(wrong
doing in or by an organisation)
– Padding expense accounts
– Divulging confidential information or trade secrets
– Terminating employment without sufficient notice
– Using company property/materials for personal
use
12. • Values helps in preventing unethical practices
constantly being used by business owners.
• It helps the strategists to somehow reconcile
the pragmatic demands of work which
prevents the use of unethical business
practice for achieving organization goals.
• Helps in elimination of abuse of public power
by politicians and bureaucrats for personal
gains.
• Business ethics are also identified as major
source of competitive advantage.
13. • Companies which are recognized as ethical
organizations are able to attract investment
and human capital, retain talent, differentiate
themselves in the market and create a
perception of being customer friendly
(strategists therefore have to provide the right
values and ethical sense to the organization
they manage)
14.
15. • Values are personal in nature while
ethics is generalized value system .
• Values offers alternatives to choose
from.
• For instance CSR as a business policy
is optional, a strategist may or may
not posses this value and still remain
within the limits of business ethics.
16. Inculcating Values & Ethics
• Considering values and ethics in recruitment
and selection.
• Incorporating the statement of values and
code of conduct into employee training and
educational programmes.
• Paying special attention to those parts of the
organization that are susceptible to be
ethically sensitive such as purchase.
