Ethics in Management

1. P R E S E N T E D B Y : R E E N A P A T I L
Ethics in Management

2. Introduction
 Welcome to the presentation on Ethics in
Management.
 Today, we will explore the meaning of ethics, its
importance in business, and specifically,
management ethics.

3. What are Ethics?
 “Ethics” is broadly defined as well based standards
of right and wrong that prescribe our rights,
obligations and benefits to society. Ethics is about
how we ought to live, treat others, run or manage our
lives and organisations.
 Ethics refers to a set of principles and values that
guide individuals and organizations in determining
what is right or wrong.
 It involves making decisions and taking actions that
are morally and socially responsible.

4. Cont..
• The term ethics or morality is often used to
describe a “moral compass” that helps us to see
right from wrong. We use our values to evaluate
the different options. We choose our actions
according to our values.

5. What it means to be ethical?
 Living values seriously
 Choosing and living core values that guide right, good and fair human conduct

 Respecting others’ (moral/legal) rights
 Discharging our own (moral/legal) obligations
 Choosing good over bad consequences
 Promoting good consequences
 Avoiding and minimising bad consequences
 Choosing fair over unfair
 Impartially considering and balancing all affected parties’ interests
 Cultivating good character

6. Why Ethics?
Ethics is crucial in business for several reasons:
 Builds trust: Ethical behavior fosters trust among
stakeholders, including employees, customers, and
investors.
 Enhances reputation: Ethical organizations are more
likely to attract and retain customers, employees, and
business partners.
 Minimizes legal and financial risks: Ethical practices help
avoid legal and regulatory issues, as well as potential
financial losses.
 Supports sustainable growth: Ethical conduct contributes
to long-term success and sustainability of businesses.

7. Management Ethics Defined
 Management ethics refers to the application of
ethical principles and values in the context of
managerial decision-making and leadership.
 It involves the responsibility of managers to ensure
ethical behavior within the organization and in their
interactions with stakeholders.

8. Types of Management Ethics
 Individual Ethics:
 Focuses on the personal values and integrity of managers.
 Involves making ethical decisions based on one's moral compass.
 Organizational Ethics:
 Relates to the ethical standards and practices established by the
organization.
 Includes the development and implementation of ethical policies and
codes of conduct.
 Leadership Ethics:
 Centers on the ethical behavior and actions of leaders within the
organization.
 Leaders serve as role models and set the ethical tone for the entire
organization.

9. Key Principles of Management Ethics
Here are some essential principles that guide management
ethics:
 Integrity: Acting honestly and consistently with ethical
values.
 Respect: Treating all individuals with dignity and
fairness.
 Transparency: Being open and accountable for actions
and decisions.
 Responsibility: Acknowledging the impact of decisions
on stakeholders and taking ownership.
 Sustainability: Considering the long-term consequences
of actions on society and the environment.

10. Implementing Management Ethics
To foster ethical behavior within an organization, consider the
following steps:
 Establish a Code of Ethics: Develop a set of guidelines that outline
expected ethical behavior for all employees.
 Ethical Leadership: Promote ethical conduct from the top-down,
ensuring leaders set a positive example.
 Ethical Training: Provide education and training programs to
enhance ethical awareness and decision-making skills.
 Encourage Open Communication: Create an environment where
employees can openly discuss ethical concerns and dilemmas.
 Reward Ethical Behavior: Recognize and reward individuals who
demonstrate ethical conduct, reinforcing the importance of ethics.

11. Conclusion
 Ethics in management is crucial for organizations to
operate responsibly, build trust, and achieve long-
term success.
 By adhering to ethical principles and fostering an
ethical culture, businesses can create a positive
impact on society and stakeholders.

12. Questions and Discussion

13. THANK YOU