Study material for management students

1. BECG
UNIT 2
VALUES, NORME, ETHICS AND CORPORATE GOVERNANCE

2. What are the values in business ethics?
• Business ethics is an evolving topic. Generally, there are about 12
ethical principles: honesty, fairness, leadership, integrity,
compassion, respect, responsibility, loyalty, law-abiding,
transparency, and environmental concerns.
• Values are basic and fundamental beliefs that guide or motivate
attitudes or actions. They help us to determine what is important to
us. Ethics is concerned with human actions, and the choice of those
actions. Ethics evaluates those actions, and the values that underlie
them.

3. What is norms in business ethics?
• Ethical norms provide guidance for all organizations for behaving
good and keeping away from bad behaviours promotes ethical
behaviours in organizations, sets the stage for coherent working
environment which contains justice, honesty, neutrality, and
responsibility.
• Ethical behaviour includes honesty, fairness, integrity and
understanding. There are several ways to encourage an ethical
workplace culture, including establishing a companywide code of
ethics

4. What are ethical beliefs and standards?
• Ethical standards also include those that enjoin virtues of honesty,
compassion, and loyalty. And, ethical standards include standards
relating to rights, such as the right to life, the right to freedom from
injury, and the right to privacy.
• EX- Frequently listed moral values include: acceptance; charity;
compassion; cooperation; courage; dependability; due regard to the
feelings, rights, traditions and wishes of others; empathy; equality;
fairness; fidelity; forgiveness; generosity; giving pleasure; good
sportsmanship; gratitude; hard work; humility

5. VALUES , NORMS AND BELIEFS

6. ETHICAL CODE

7. MANAGING ETHICS

8. MANAGING ETHICS
1. Compliance with Laws and regulation
2. Customer respecting management
3. Shareholder oriented management
4. Employee respecting management
5. Employee compliance management
6. Supplier growth management
7. Social responsibility management

9. Ethical behaviour is characterized by honesty, fairness and equity in
interpersonal, professional and academic relationships and in
research and scholarly activities. Ethical behaviour respects the
dignity, diversity and rights of individuals and groups of people.
Ethical Activities

10. Ethical Activities
• corporate responsibility
• personal responsibility
• social responsibility
• loyalty, fairness
• respect, trustworthiness
• technology ethics

11. What are management ethics?
• Managerial ethics is a set of principles and rules dictated by upper
management that define what is right and what is wrong in an
organization. It is the guideline that helps direct a lower manager's
decisions in the scope of his or her job when a conflict of values is
presented.
• Ethical management is the practice of being honest and virtuous in a
role as a manager. Management training will help you with this and
there are several responsibilities and obligations of an ethical
manager, including setting a good example, holding everyone to the
same standard, and making expectations clear

12. Ethical Dilemmas
• An ethical dilemma is a problem in the decision-making process
between two possible options, neither of which is absolutely
acceptable from an ethical perspective. Although we face many
ethical and moral problems in our lives, most of them come with
relatively straightforward solutions.
• False accounting, sexual harassment, data privacy, nepotism,
discrimination—these are just some of the ethical dilemmas that
happen in today's workplace. Many business owners and managers
will deal with ethical issues at some point in their career

13. Some examples of ethical dilemma include:
• Taking credit for others’ work
• Offering a client a worse product for your own profit
• Utilizing inside knowledge for your own profit

14. Whistle Blowing
• Whistleblowing is where workers report misconduct, most often
seen at work, in order to protect the public. Whistle blowers can be
employees, former employees, trainees, agency workers or members
of Limited Liability Partnerships.
• Whistle blowing means calling attention to wrongdoing that is
occurring within an organization. The Government Accountability
Project lists four ways to blow the whistle: reporting wrongdoing or a
violation of the law to the proper authorities. such as a supervisor, a
hotline or an Inspector General

15. Example Whistle Blowing
• The most common examples are price fixing, over-billing or billing for
services not performed, concealing safety concerns or violations, and
false certifications by educational institutions or certifying agencies.
There are particularly severe repercussions for those who commit
fraud against the government.

16. THANK YOU
Prof. KANCHAN KUMARI