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This document discusses business ethics and the relationship between business and ethics. It defines business as any organization whose primary goal is to provide goods and services to obtain a return on investment. It defines ethics as a set of principles of right conduct. Business ethics examines ethical issues that arise in business organizations. For a business to be successful, it must operate ethically within society and as a responsible corporate citizen. An ethical approach benefits businesses through high employee morale and productivity.
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Contents
Introduction
Meaning and definitions of business ethics
Sources of business ethics
Characteristics of business ethics
Importance
Principles of business ethics
Introduction
Business is a part of society and its functions in the society.
It is the application of ethics to business.
It is the study of good and evil, right or wrong and just and unjust actions of businessmen.
Every business should be guided by ethics.
Ethics helps to survive and succeed their ventures.
Meaning and definition
It refers to the “moral principles which are considered right by the society.
It is the study of morality.
These are the moral principles and rules of conduct which govern and guide the activities of business.
According to David Fritzsche, “it is the process of evaluating decisions, either pre or post, with respect to the moral standards of society’s culture”.
The institute of global ethics defines, “the term ethics as obedience to the unforceable”.
Sources of business ethics
Religion
Culture experience
Legal system
Characteristics/features of business ethics
01. An overview of business ethics
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Contents
Introduction
Meaning and definitions of business ethics
Sources of business ethics
Characteristics of business ethics
Importance
Principles of business ethics
Introduction
Business is a part of society and its functions in the society.
It is the application of ethics to business.
It is the study of good and evil, right or wrong and just and unjust actions of businessmen.
Every business should be guided by ethics.
Ethics helps to survive and succeed their ventures.
Meaning and definition
It refers to the “moral principles which are considered right by the society.
It is the study of morality.
These are the moral principles and rules of conduct which govern and guide the activities of business.
According to David Fritzsche, “it is the process of evaluating decisions, either pre or post, with respect to the moral standards of society’s culture”.
The institute of global ethics defines, “the term ethics as obedience to the unforceable”.
Sources of business ethics
Religion
Culture experience
Legal system
Characteristics/features of business ethics
01. An overview of business ethics
This document provides an overview of business ethics. It defines business and ethics, explaining that business ethics examines moral issues that can arise in a commercial context. The document outlines several topics in business ethics, including why studying it is important. Some benefits are improved employee commitment, investor loyalty, customer satisfaction, and profits. A framework for studying business ethics is presented, covering applying moral philosophies and stakeholder responsibilities. The relationship between ethics, society, and religion is also discussed.
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Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
Industrial Tech SW: Category Renewal and Creation
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We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
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- 2. BUSINESS Business is defined as i. any organization, ii. a corporation iii. a partnership or iv. joint ventures whose primary goal is to provide goods & services in order to obtain a return on investment.
- 3. ETHICS The ethics is originated from ‘ethos’, meaning character or manners. It a set of principles of right conduct. It is a culture refers to certain moral principle to achieve desired goals.
- 4. BUSINESS ETHICS Business ethics is the study of business situation, activities, & decisions where issues of right & wrong are addressed. Business ethics is a form of applied ethics that examines ethical principles & moral or ethical problems that arises in a business organization. Without business ethics no organization can run successfully.
- 5. BUSINESS & ETHICS Business operates with in the society: Business is a part or subsystem of society. Business’s functioning must contribute to the welfare of the society.
- 6. Society wants business to be ethical. For example: Parker Brothers voluntarily withdrew its all time best selling toys when it found that two children were chocked to death by swallowing some of its part which they never anticipated.
- 7. Business needs to function as responsible corporate citizens in the country. Business is that organ of the society which creates wealth for the country. Hence, narrow mentality & narrower goals & motives are to be avoided. Every business irrespective of size exists more on ethical means. Business needs to remain ethical for its own good. Maximizing of profit is not only satisfying.
- 8. Business should creatively find ways to become a part of solution, rather than being a part of problems. Business that treat their employees with dignity & integrity gain many rewards in form of high morale & improved productivity. People feel good about working in an ethical company.
- 9. Presentation By, AHANA S DARSAN