BUSINESS ETHICS PRESENTED BYMukta chughSonali LachhaniDishant NagraniDheeraj RamchandaniJuhi Makhija
‘A business that makes nothing but money is a poor business.’ Henry Ford
Difference Moral principles by which peopleEthics conduct themselves personally, socially, or professionallyBusiness Rules based on moral principles aboutethics how businesses and employees ought to conduct themselves
BUSINESS ETHICSMEANING Business Ethics deals with morality in the business.it is a system of moral principles and values applied to business activities.This means the business activities should be conducted according to ethics or moral standards.
Three levels of applicationBusiness ethics can be applied at three levels: –the individual employee, –the organization, –the society.
Who is responsible for creating ethics in an organization?
FEATURES OF BUSINESS ETHICSCODE OF CONDUCTPROVIDE PROTECTION TO SOCIAL GROUPPROVIDE BASIC FRAME WORKNEED WILLING ACCEPTANCEEDUCATION AND GUIDANCENOT AGAINST FAIR PROFIT MAKING
Why Be Ethical in business?1. Higher Trust2. A better reputation3. Higher shareholder value.
Why fostering Good Business Ethics is important??? CHECKING BUSINESS MALPRACTICES IMPROVING CONSUMER CONFIDENCE BUSINESSMEN TO BE CONSCIOUS OF SOCIAL RESPONSIBILITIES PROTECT CONSUMER RIGHTS CREATE GOOD IMAGE OF BUSINESS
HOW BUSINESS CAN “GET IT”Organizations that Promote an “Ethical Climate” provide an Opportunity to develop an “Ethical Culture”
7 Principles Of business ethics• Be trustful• Accept the social responsibility• Meet Obligations• Have clear documents• Become community involved• Maintaining accounting control• Be respectful
ETHICAL AND UNETHICALHAVING MORAL VALUES • NO VALUES NO ETHICSFAIR PRICES • SHORT WEIGHTS ANDFAIR WAGES MEASURES • SUPPY INFERIOR QUALITY
DISCUSSION QUESTIONSuppose you have a customer who knowsnothing about the product she is buying. Youthink she will buy any model you recommend.- Is it your duty to sell her the mostexpensive model in the store? Explain.
DISCUSSION QUESTIONSuppose you are getting paid less than youthink you deserve. Could that justifystealing from the company or goofing off on thejob?What other options might you have to remedyyour dissatisfaction?
Conclusion• Ethics are important not only in business but in all aspects of life because it is an essential part of the foundation on which of a civilized society is build. A business or society that lacks ethical principles is bound to fail sooner or later.