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Values,ethics and culture

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DISCUSS THE BASICS OF VALUES,ETHICS AND CULTURE IN BUSINESS.USEFUL FOR BEGINNERS STUDYING COMMERCE AND MANAGEMENT.

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Values,ethics and culture

  1. 1. VALUES, ETHICS &CULTURE UG 1 Semester Farook College July 2016
  2. 2. Values • Values are principles or standards of behaviour; one's judgement of what is important in life. • Important and lasting beliefs or ideals shared by the member of a culture about what is good or bad and desirable or undesirable. Values have major influence on person's behaviour and attitude and serve as broad guidelines in all situations. Some common business values are fairness, innovation and community involvement. Values provide the basis for judgments about what is important for the individual/organization to succeed in the life/its core business. • Examples of values includes four organizational values-loyalty, duty, selfless service, and integrity-and four individual values- commitment, competence, candour, and courage.
  3. 3. • values are acquired in childhood and manifest themselves on our campuses as permanent perceptions that shape and influence the nature of our behaviours. • Values involve emotion, knowledge, thought, and ultimately choice of response. • Values vary between individuals and, because values govern behaviour, they colour the way individuals view and respond to their world. • It is important to understand the impact values have on choice. While values can, and do, change over time, they represent a significant component of personality.
  4. 4. Ethics • Ethics refers to the study of good and evil, right and wrong, just and unjust actions of people. • Ethics as a matter of fact deal with certain standards of human conduct and rules. • It deals with the ideals involved in human conduct. • To behave ethically is to behave in a manner that is consistent with what is generally considered to be right or moral. Ethical behavior is the bedrock of mutual trust
  5. 5. Cont…. • Derived from Greek word ethikos meaning custom or character • Oxford dictionary defines it as a code of behaviour considered correct. • The basic concepts and fundamental principles of decent human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety. • An area of study that deals with ideas about what is good and bad behaviour : a branch of philosophy dealing with what is morally right or wrong. • Ethics is the discipline that examines one’s moral standards or the moral standards of the society.
  6. 6. Definition Ethics are moral guidelines which govern good behaviour. So behaving ethically is doing what is morally right Behaving ethically in business is widely regarded as good business practice. To provide you with a couple of quotes:
  7. 7. Culture • Broadly, social heritage of a group (organized community or society). • It is a pattern of responses discovered, developed, or invented during the group's history of handling problems which arise from interactions among its members, and between them and their environment. • These responses are considered the correct way to perceive, feel, think, and act, and are passed on to the new members through immersion and teaching. • Culture determines what is acceptable or unacceptable, important or unimportant, right or wrong, workable or unworkable.
  8. 8. Culture • Man made part of the envt. • Comprised of assumptions, values, norms and behaviours. • Types of culture – According to Jeffrey Sonnenfeld • Normative culture • Pragmatic culture • Academy culture- University • Baseball team culture-investment banking • Club culture- Armed Forces • Fortress culture-loan and saving companies
  9. 9. Values, Culture and ethics • Values are personal in nature • High values leads to objective and fair decision making. • It varies from manager to manager • Modification of values are required for successful strategy formulation • All these terms are interrelated • Each culture has its own ethical practices • Study of culture is inevitable for studying ethics
  10. 10. Culture and organisation • Ogn culture is the personality of the ogn • It denotes the climate, the atmosphere, the mental attitude shared by the members of the organisation • Every organisation has a culture • A sound culture is essential for radical changes • Culture of an MNC, Educational institution and section 25 company is different
  11. 11. Balanced corporate culture • Top down mgt with employee involvement • Customer responsiveness and consistency in policies • Short term performance plus long term growth • Innovativeness and reliability
  12. 12. Business Ethics • Right or wrong in the workplace. • It does not differ from generally accepted norms of good or bad practices. • If dishonesty is considered to be unethical in the society, then any business person who is dishonest with any stakeholder is assumed to be unethical.
  13. 13. Theories of ethics • Theory of moral unity – Business actions should be judged by the general ethical standards of the society. There exists only one set of ethical standards. Theory of amorality It says that actions of businesspeople need not be guided by general ethical standards. It depends on the person and the situation and all those actions are distilled by the market
  14. 14. Sources of Ethical Norms 14 Fellow Workers Family Friends The Law Regions of Country Profession Employer Society at Large Fellow Workers Religious Beliefs The Individual Conscience
  15. 15. Ethics and the Law 15 • Law and ethics have a common aim- defining proper and improper behaviour. • Law often represents an ethical minimum • Ethics often represents a standard that exceeds the legal minimum. • Legal rules help promote ethical bahaviour in organisations.
  16. 16. Acts in India • F E M A 1999 • The Companies Act 1956 • The competition Act,2002 • The consumer protection act,1986 • The environment protection act,1986 • The essential commodities act,1955
  17. 17. Ethics and Morality are different: • Ethics – a kind of investigation and includes both the activity of investigating and the results of that investigation. • Morality is the subject matter that ethics investigates.
  18. 18. Characteristics of Business Ethics Discipline Art & Science Dynamic Ancient Concept Based on social realities and customs Human Aspects Universal application Develops personal dignity Differ with individual perspectives Keeps harmony

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