What types of ethics are required for business

1. Business Ethics and Social
Responsibilities
Ghulam Mustafa

2. Business Ethics:
 Business ethics are the principle ,values, and
standard that guide behavior in the world of
business.

3. Principles
Principles Are very specific universal and
absolute boundaries that rule the conduct
and behavior of society rules and often
based off of principles.
 Principle is a concept or value that is a
guide for behavior or evaluation In law for
example freedom to speech.

4. Value
 In ethics, value denotes the degree of importance
of some thing or action, with the aim of
determining what actions are best to do or what
way is best to live, or enforce by the society.

5.  Business face more complicated issue the
individual
 Profit earn in legal way survive long life
 Unethical earning life become shorter
 E.g. Enron

6. Social Responsibility
Social responsibility is an ethical
framework and suggests that an entity, be it
an organization or individual, has an
obligation to act for the benefit of society at
large

7. Development of individual Ethics
 Pre conventional:
Individual is mainly looking out for his or her own interest Rules are followed only out of
fear of punishment or hope of reward.
 Conventional:
Individual consider the interest and expectation of other in making decisions.
Rules are followed because it is a part of belonging to the group
 Post conventional:
Individual follows personal principles for resolving ethical dilemmas. He or she considers
personal group and societal interest

8. Current Ethical issues in business
 Social Networking
 Surveillance and Privacy
 Transparency
 Child Labor
 Environmental Protection

9. Common business ethical challenges
 Conflict of interest
 Honesty and integrity
 Loyalty versus truth
 Whistle blowing

10. Structure of an Ethical environment
 Ethical awareness
 Ethical Education
 Ethical action
 Ethical leadership

11. Code of conduct
 Formal statements that defines how an
organization expects its employees resolve
ethical issues.

12. Protection the environment
 Recycling
 Green marketing
 Sustainable

13. Responsibility to customer
 Consumerism
 Product liability

14. Rights to Consumer
 Right to be safe
 Right to be informed
 Right to be choose
 Right to be Heard