Business Environment and Ethical Practices (BBA LLB 213 )

Chanderprabhu Jain College of Higher Studies & School of Law
Plot No. OCF, Sector A-8, Narela, New Delhi – 110040
(Affiliated to Guru Gobind Singh Indraprastha University and Approved by Govt of NCT of Delhi & Bar Council of India)
SEMESTER: THIRD
BBALLB
NAME OF THE SUBJECT:BUSINESS ENVIRONMENT AND
ETHICAL PRACTICES
UNIT -1
INTRODUCTION TO BUSINESS ENVIRONMENT
Introduction to Business EnvironmentIntroduction to Business Environment
FACULTY NAME: Ms. PALLAVI SHARMA
(Assistant Professor)

WHAT IS BUSINESS???
Business may be understood as the organized efforts of
enterprises to supply consumers with goods and services for a
profit

WHAT DO YOU MEAN BY BUSINESS
ENVIRONMENT???
The environment of any organization is “ the aggregate of all conditions, events and
influences that surround and affect it.”
Characteristics of Business Environment:
• Complex
• Dynamic
• Multi-faceted
• Far- reaching impact

Contemporary Business goals
• Profit (Bottom-line)
• Growth
• Market Leadership
• Customer satisfaction
• Employee satisfaction
• Quality Products & Services
• Service to Society

CHARACTERISTICS OF BUSINESS

Nature of Business Environment
1. Related to Economic Activities
2. Dynamic Concept
3. Effects Various Factors
4. Inter-Relationship
5. The Market of Business
6. Effect of Economic Systems
7. Internal and External Environment of the Institutions
8. Formulation of Working Plans
9. Creation of Utilities by Transformation
10. Two Way Communication Arrangement
11. Dynamic
12. Complementary and Dependent
13. Complicated System
14. Classifications of Boundary Lines, Controlling Factors, Pressures, and
Restrictions

Scope of Business Environment

Why Study Business Environment
• Development of broad strategies to ensure sustainability
• To foresee the impact of socio-economic changes at the
national and international levels on firm’s ability
• Analysis of competitor’s strategies and formulation of
effective counter measures

IMPORTANCE OF BUSINESS ENVIRONMENT
1. Enables to Identify Business Opportunities
2. Helps in Tapping Useful Resources
3. Coping with Changes
4. Assistance in Planning
5. Helps in Improving Performance

INTERNAL AND EXTERNAL BUSINESS
ENVIRONMENT

INTERNAL ENVIRONMENT
• These are factors from inside the firm that could affect performance.
1. Finance Available – without money the firm may not be able to do what they
wish.
2. Ability of Staff – the more capable staff are the more productive they will be.
3. Information Available – the better the information the better the decisions made.
4. ICT Availability – this can influence the quality and quantity of what is
produced
5. Ability of Management – good managers will make good decisions
6. Changes in Costs – increases in wages or raw materials can affect the
profitability of the firm

EXTERNAL ENVIRONMENT
This is further divided into two categories:
1. Macro
2. Micro

MACRO ENVIRONMENT
• This is summarised as:
• Political Environment
• Legal Environment
• Economic Environment
• Social Environment
• Cultural Environment
• Technological Environment
• Environmental Environment
• Competitive

POLITICAL
• Laws passed in the UK and the EU can affect the what a business
does.
• E.g. shops are not allowed to sell alcohol on Sunday mornings or
the smoking ban in public places.
• Failure to follow laws will result in fines.
• Other ways the government can influence is through setting
taxation rates and investment in infrastructure.

ECONOMIC
• This includes changes in interest rates, exchange rates, inflation and the economic
cycle.
• If interest rates are high this could stop firms from borrowing money also
customers are less likely to borrow or use credit cards to make purchases.
• If the pound is high against other currencies this makes it hard to export goods
abroad, reducing the number of sales.
• If inflation is high, the prices of raw materials can be expensive which can reduce
profits.
• If the economy is in recession, people tend to be unemployed or worried about
losing their job, therefore not spending money on luxury goods.

SOCIAL
• DEMOGRAPHIC CHANGES
• This is to do with the size and distribution of the population of a country.
• E.g. The UK has an ageing population, this has led to a rise in products aimed at
older people (SAGA) and firms recruiting older workers (B&Q)

• SOCIO-CULTURAL CHANGES
• This is about changes in lifestyle and attitude.
• E.g. More women working has seen a rise in ready meal and later opening
hours
• More concern about the environment, forcing firms to maybe use recycled
products.
• People have more leisure time, changes in attitude to single mothers have also
affected the types of products offered.

TECHNOLOGICAL
• Firms need to keep up-to-date with the latest technology in order to remain
competitive.
• Have seen a huge growth in e-commerce (buying and selling online)
• Use of machinery in the production process – more efficient and cheaper.

ENVIRONMENTAL
• Firms are aware that they have to be more
environmentally friendly, not only because that is what
customers want, but can be forced by the government to
do so.
• It can also include storms, floods, noise. All these can
affect how a business operates.

COMPETITIVE
• What the competition is doing can affect how a business
operates.
• Firms now not only face domestic competition but also
foreign.
• Have to keep up or be better than your competition to keep
your customers.

MICRO ENVIRONMENT
• SUPPLIERS
• CUSTOMERS
• COMPETITORS
• FINANCIERS
• MARKETING INTERMEDIARIES
• TRADE UNION
• PUBLICS

ENVIRONMENTAL
SCANNING AND MONITORING
Environmental Scanning and Monitoring is not a foresight method as such, but rather
an essential background activity or first step in any foresight exercise.
Process of Environmental Analysis:
1. Scanning
2. Monitoring
3. Analysing
4. Forecasting
5. Assessing

ASSESING RISK
IN
BUSINESS ENVIRONMENT
•Create awareness of hazards and risk.
•Identify who may be at risk (e.g., employees, cleaners, visitors, contractors, the
public, etc.).
•Determine whether a control program is required for a particular hazard.
•Determine if existing control measures are adequate or if more should be done.
•Prevent injuries or illnesses, especially when done at the design or planning stage.
•Prioritize hazards and control measures.

SOCIAL RESPONSIBILITY OF BUSINESS
• Social responsibility is an ethical or ideological theory that an entity whether it is a
government, corporation, organization or individual has a responsibility to society.
• While primarily associated with business and governmental practices, activist
groups and local communities can also be associated with social responsibility, not
only business or governmental entities.
• Corporate social responsibility (CSR, also called corporate responsibility, corporate
citizenship, and responsible business) is a concept whereby organizations consider
the interests of society by taking responsibility for the impact of their activities on
customers, suppliers, employees, shareholders, communities and other stakeholders,
as well as the environment.
• This obligation is seen to extend beyond the statutory obligation to comply with
legislation and sees organizations voluntarily taking further steps to improve the
quality of life for employees and their families as well as for the local community
and society at large.

EMERGING SECTOR OF INDIAN ECONOMY
• Service Sector
• Informational Technology Industry
• Marine Sector
• Micro, Small and Medium Enterprices

SEMESTER: THIRD
BBALLB
ETHICAL PRACTICES
UNIT -2
BUSINESS AND ECONOMY

Meaning of Business Economy
An economy, or economic system, is the way a nation makes economic choices about
how the nation will use its resources to produce and distribute goods and services.

Three Types of Economic Systems:
1.Capitalization
2.Socialistic and
3.Mixed Economy

Capitalization
• Capitalism features private ownership of businesses and marketplace competition.
• It is the same as a free enterprise system.
• The political system most frequently associated with capitalism is democracy.

Features of Capitalization
• Right to keep Private Property.
• Right of Inheritance.
• Freedom of Enterprises.
• Profit Motive.
• Sovereignty of consumer
• Competition.
• Importance of Price Mechanism
• Inequalities of Income and Wealth.
• Role of Government
• Class Conflict

Merits of Capitalization
• Capitalism Works Automatically.
• Incentive to capital Accumulation.
• Flexibility or Adaptability.
• Decentralisation of Economic Power.
• Spirit of Enterprise
• Promotion of social Interest
• Technological Progress
• Increase in standard of Living
• Right allocation of Resources

Demerits of Capitalization
• Inequality of Income and Wealth
• Creation of social Parasites
• Loss of Human Values and Welfare
• Wastes of Competitions
• Lack of Coordination
• Trade Cycles and Unemployment
• Division of Society

Socialistic
The main goal of socialism is to keep prices low for all people and to provide
employment for many.
• The government runs key industries, generally in telecommunications, mining,
transportation, and banking.
• Socialist countries tend to have more social services.

Features of Socialistic
1. Social Ownership of means of production
2. Economic Planning
3. Equalities of Income and Wealth
4. Classless Society
5. Freedom of Choice in Consumption and Occupation
6. Equality of opportunity.

Merits of Socialistic
1. Maximum Utilization of Economic Resources
2. Achieves Coordinated Development
3. Elimination of Fluctuation in Economy
4. Social Security and Welfare
5. Secures Equitable Distribution of National Product
6. Eliminates Social Parasitism
7. Eliminates Labour Disputes

Demerits of Socialistic
1. Loss of Initiative and Enterprise
2. Concentration of Economic and political power
3. Loss of consumer’ Sovereignty
4. Loss of freedom of Occupational Choice
5. Bureaucratic Control
6. Lack of Flexibility in system

Mixed Economy
• Most economies in the world today are mixed.
• Classification is based on how much government intervention there is.

Demerits of Mixed Economy
• Instability
• Concentration of Economic Power
• Inefficiency and Corruption
• Fear of Nationalisation

Economic Growth
• Economic growth is an increase in the production of economic goods and services,
compared from one period of time to another. Traditionally, aggregate economic
growth is measured in terms of gross national product (GNP) or gross domestic
product (GDP), although alternative metrics are sometimes used.
• Economic growth, the process by which a nation’s wealth increases over time.
Although the term is often used in discussions of short-term economic performance,
in the context of economic theory it generally refers to an increase in wealth over an
extended period.

Economic Development
• Economic development is the growth of the standard of living of a nations people
from a low-income (poor) economy to a high-income (rich) economy. When the
local quality of life is improved, there is more economic development
• Economic development is usually the focus of federal, state, and local
governments to improve our standard of living through the creation of jobs, the
support of innovation and new ideas, the creation of higher wealth, and the creation
of an overall better quality of life. Economic development is often defined by others
based on what it is trying to accomplish. Many times these objectives include
building or improving infrastructure such as roads, bridges, etc.; improving our
education system through new schools; enhancing our public safety through fire
and police service; or incentivizing new businesses to open a location in a
community.

Economic Growth and Development
• Economic growth may be one aspect of economic development but it is not the
same
• Economic growth: A measure of the value of output of goods and services within a
time period
• Economic Development: A measure of the welfare of humans in a society.

Factors Affecting Economic Growth
Economic Factors
1. Natural Resources- For economic growth, the existence of natural resources in
abundance is essential.
2. Capital Formation- Capital may be defined as the stock of physical reproducible
factors of production. Capital may be human capital, raw material capital,
infrastructure capital, etc.
3. Technological Progress- There is no doubt that technological progress is a very
important factor in determining the rate of economic growth.
4. Human Resources-A good quality of population is very important in determining
the rate of economic progress. Instead of a large population a small but high quality
of human race in a country is better for development.

Non-Economic Factors
1.Political Factors Political stability and strong administration are essential and helpful in
modern economic growth. It is because of political stability and strong Economic
Development and Growth administration that the developed countries have reached the
level of highest economic growth in the world.
2.Social and Psychological Factors Social factors include social attitudes, social values
and social institutions which change with the expansion of education and transformation
of culture from one society to the other.
3.Education -It is now fairly recognised that education is the main vehicle of
development. Greater progress has been achieved in those countries, where education is
wide spread.

Difference Between Economic Growth And Economic
Development
• Economic Growth does not take into account the size of the informal economy. The
informal economy is also known as the black economy which is unrecorded
economic activity. Development alleviates people from low standards of living into
proper employment with suitable shelter. Economic Growth does not take into
account the depletion of natural resources which might lead to pollution, congestion
& disease.

Circular Flow Of Income Or Circular Flow
• Refers to a simple economic model which describes the reciprocal circulation of
income between producers and consumers.
• In the circular flow model, the interdependent entities of producer and consumer are
referred to as "firms" and "households" respectively and provide each other with
factors in order to facilitate the flow of income.
• Real Flow and Money Flow. Real Flow- In a simple economy, the flow of factor
services from households to firms and corresponding flow of goods and services
from firms to households s known to be as real flow.

Significance of Study of Circular Flow of Income
• 1.Measurement of National Income- National income is an estimation of
aggregation of any of economic activity of the circular flow. It is either the income
of all the factors of production or the expenditure of various sectors of economy.
However, aggregate amount of each of the activity is identical to each other.
• 2.Knowledge of Interdependence- Circular flow of income signifies the
interdependence of each of activity upon one another. If there is no consumption,
there will be no demand and expenditure which in facts restricts the amountof
production and income.
• 3.Unending Nature of Economic Activities- It signifies that production, income and
expenditure are of unending nature, therefore, economic activities in an economy
can never come to a halt. National income is also bound to rise in future.
• 4.Injections and Leakages Reference- A General Approach to Macroeconomic
Policy.

Phases or Stages of Circular Flow of Income
• Production, consumption expenditure and generation of income are the three basic
economic activities of an economy that go on endlessly and are titled as circular
flow of income. Production gives rise to income, income gives rise to demand for
goods and services ; such a demand gives rise to expenditure and expenditure
induces for further production. The whole process forms the basis for circular flow
of income and related activities- production, income and expenditure are known as
phases or stages of circular flow of income.
• Production → Income → Expenditure → Production.

Inflation
• Inflation is defined as a sustained increase in the price level or a fall in the value of
money.
• When the level of currency of a country exceeds the level of production, inflation
occurs.
• Value of money depreciates with the occurrence of inflation.

CAUSES OF INFLATION
• FACTORS ON DEMAND SIDE:
• Increase in money supply
• Increase in disposable income
• Deficit financing
• Foreign exchange reserves

Factors On Supply Side
•Rise in administered prices
•Erratic agriculture growth
•Agricultural price policy
•Inadequate industrial growth

Effect Of Inflation
• They add inefficiencies in the market, and make it difficult for companies to budget
or plan long-term.
• Uncertainty about the future purchasing power of money discourages investment
and saving
• There can also be negative impacts to trade from an increased instability in
currency exchange prices caused by unpredictable inflation.
• Higher income tax rates.

Measures Of Inflation
1. Monetary policy
• Credit Control
• Demonetization of Currency
• Issue of New Currency
2. Fiscal policy
• Reduction in Unnecessary Expenditure
• Increase in Tax
• Increase in Savings
• Surplus Budgets
• Public Debt

3. Other Measures
• To Increase Production
• Rational Wage Policy
• Price Control

FOREIGN INVESTMENTS
Foreign investment refers to the investment in domestic companies and
assets of another country by a foreign investor. Large multinational
corporations will seek new opportunities for economic growth by opening
branches and expanding their investments in other countries.

ADVANTAGES OF FOREIGN INVESTMENTS
1. Economic Development Stimulation.
2. Easy International Trade.
3. Employment and Economic Boost.
4. Development of Human Capital Resources.
5. Tax Incentives.
6. Resource Transfer.

DISADVANTAGES OF FOREIGN INVESTMENTS
1. Hindrance to Domestic Investment.
2. Risk from Political Changes.
3. Negative Influence on Exchange Rates.
4. Higher Costs.
5. Economic Non-Viability.
6. Expropriation.

PRIVATE FOREIGN INVESTMENT
A private foreign investment is an investment made by a private individual or
a private entity in a foreign country. This type of investment differs from
other investments made by a foreign public or governmental entity in another
country in that it is made by an individual or a private entity.

ADVANTAGES OF PRIVATE FOREIGN INVESTMENT
1. Creation of New Technology, Entrepreneurial Skill and New Ideas:
2. Encouragement to Local Investment and Enterprise:
3. It may lead to the Training of Labour in Skills:
4. Useful for Capital Formation:
5. Real Addition to the Productive Capacity of Capital Importing Country:
6. More Productive:
7. Helpful to reduce Burden on the Balance of Payments:
8. Risk-Taking:
9. Technical Know-how:
10. High Standard:
11. Marketing Facilities:

DISADVANTAGES OF PRIVATE FOREIGN INVESTMENT
1.Distort of the Pattern of Development of the Economy
2. Adverse Effect on Domestic Savings:
3. Adverse Effect on Balance of Payments of the Recipient Country:
4. Not Useful on Political Grounds:
5. Limited Coverage:
6. More Dependence:
7. Restrictive Conditions:
8. Remittance of Large Amounts:

GOVERNMENT POLICY
Government Policy is an important element of business environment. It
explains the role of the Government and affects the nature as well as structure
of the economy. It also lays down the limits and norms for the conduct of the
business.
•FISCAL POLICY
•MONETARY POLICY
•FOREIGN EXCHANGE MANAGEMENT

FISCAL POLICY
Fiscal policy is the means by which a government adjusts its spending levels
and tax rates to monitor and influence a nation's economy. It is the sister
strategy to monetary policy through which a central bank influences a
nation's money supply.
CONSTITUENTS OF THE FISCAL POLICY:
• Public Expenditure
•Taxation
• Public Borrowing

OBJECTIVES OF FISCAL POLICY
• Mobilisation of Resources
• Economic Development
• Reduction of Disparities of Income
• Expansion of Employment
• Price Stability
• Correcting Disequilibrium in Balance of Payments

LIMITATIONS OF FISCAL POLICY
Though the fiscal policy has an important place in economic development and in particular, in
the stepping up of saving and investment both in public and in private sectors, it has the
following limitations.
1) Size of fiscal measures
The budget is not a mere statement of receipts and revenues of the government. It explains
and shapes the economic structure of a country. When the budget forms a small part of the
national income in developing economies, fiscal policy cannot have the desired impact on the
economic development. Direct taxation at times become an instrument of limited applicability,
as the vast majority of the people are not covered by it. Further, when the total tax revenue
forms a smaller portion of the national income, fiscal measures will not step up the sagging
economy requiring massive help.

LIMITATIONS OF FISCAL POLICY
2. Fiscal policy as ineffective anti-cyclical measure
Fiscal measures- both loosening fiscal policy and tightening fiscal policy- will not stimulate
speedy economic growth of a country, when the different sectors of the economy are not
closely integrated with one another. Action taken by the government may not always have the
same effect on all the sectors. Thus we may have for instance the recession in some sectors
followed by a rise in prices in other sectors. An increasing purchasing power through deficit
financing, a policy advocated by J.M. Keynes in 1930s may not have the effect of reviving
the recession hit economies, but merely result in a spiralling rise in prices.
3. Administrative delay
Fiscal measures may introduce delay, uncertainties and arbitrariness arising from
administrative bottlenecks. As a result, fiscal policy fails to be a powerful and therefore a
useful stabilization policy.

MONETARY POLICY
Monetary policy is the macroeconomic policy laid down by the central
bank. It involves management of money supply and interest rate and is
the demand side economic policy used by the government of a country
to achieve macroeconomic objectives like inflation, consumption,
growth and liquidity.

OBJECTIVES OF MONETARY POLICY
It is designed to maintain the price stability in the economy. Other
objectives of the monetary policy of India, as stated by RBI, are:
•Price stability
•Controlled expansion of bank credit
•Promotion of fixed investment
•Restriction of inventories and stocks
•Promoting efficiency
•Reducing rigidity

FISCAL POLICY Vs MONETARY POLICY

FOREIGN EXCHANGE MANAGEMENT
Foreign exchange is essential to coordinate global business.
Foreign exchange management is associated with currency
transactions designed to meet and receive overseas payments.
Beyond these transactions, foreign exchange management
requires you to understand the relevant factors that influence
currency values.

Semester: THIRD Semester
Name of the Subject:
BUSINESS ENVIRONMENT
SEMESTER: THIRD
BBALLB
ETHICAL PRACTICES
UNIT -3
Design and Strategy of Economic Reforms

MONETARY POLICY
• Monetary policy refers to the use of instruments under the control of the
central bank (RBI) to regulate the availability, cost and use of money and
credit.
• According to Johnson, “Monetary policy is defined as policy employing
central bank’s control of the supply of money as an instrument for
achieving the objectives of general economic policy.”

OBJECTIVES OF MONETARY POLICY
• Full Employment
• Price Stability
• Economic Growth
• Balance of Payments

INSTRUMENTS OF MONETARY POLICY
Direct Instruments
• Cash reserve ratio (CRR)
• The money supply in the economy is influenced by CRR.
• It is the ratio of a bank’s time and demand liabilities to be kept in reserve with the
RBI.
• The RBI is authorized to vary the CRR between 3% and 15%.
• Statutory liquidity ratio (SLR):
• Under SLR, banks have to invest a certain percentage of its time and demand
liabilities in govt. approved securities.
• The reduction in SLR enhances the liquidity of commercial banks.

Indirect Instruments
•Liquidity Adjustment Facility (LAF): – Consists of daily infusion or
absorption of liquidity on a repurchase basis, through repo (liquidity
injection) and reverse repo (liquidity absorption) auction operations, using
government securities as collateral.
•I. Repo Rate: – Repo rate is the rate at which the RBI lends shot-term
money to the banks against securities. When the repo rate increases
borrowing from RBI becomes more expensive.
•ii. Reverse Repo Rate: – The rate at which RBI borrows from commercial
banks.

FISCAL POLICY
• “It refers to a policy concerning the use of state treasury or the government finances
to achieve the macro-economic goals”
OR
• “Government policy of changing its taxation and public expenditure programs
intended to achieve its objective”.
OR
• “Government uses its expenditure and revenue program to produce desirable effects
on National Income , production and employment”.

OBJECTIVES OF FISCAL POLICY
• To Achieve Equal Distribution of Wealth
• Increase in Savings
• Degree of inflation
• To Achieve Economic Stability
• Price stability

INSTRUMENTS OF FISCAL POLICY
The Two Main instruments of fiscal policy
• Revenue Budget
• Expenditure Budget

NEW INDUSTRIAL POLICY 1991
The long-awaited liberalized industrial policy was
announced by the Government of India in 1991 in the
midst of severe economic instability in the country. The
objective of the policy was to raise efficiency and
accelerate economic growth.

INDUSTRIAL POLICY 1991 OBJECTIVES
• A. Industrial Licensing.
• B. Foreign Investment.
• C. Foreign Technology Agreements.
• D. Public Sector Policy.
• E. MRTP Act.

SEMESTER: THIRD
BBALLB
ETHICAL PRACTICES
UNIT -4: Business Ethics

ETHICS: WHAT DOES IT REALLY MEAN???
• Derived from Greek word ‘Ethicos’ meaning Character or Manners
• Science of character of a person expressed as right or wrong conduct or action.
• Set of moral principles prescribing code, explains what is good and right, or bad
and wrong.
Ethics can be termed as the science of character of a person expressed as right or wrong
conduct or action

OBJECTIVE OF ETHICS
• Studies human behavior and makes evaluative assessment about them as
moral or immoral
• Establishes moral standards and norms of behavior
• Makes judgment upon human behavior based on these standards and norms
• Prescribes moral behavior and makes recommendations about how to or
how not to behave
• Expresses an opinion or attitude about human conduct in general

BUSINESS ETHICS: WHAT DOES IT REALLY MEAN???
• Comprises principles and standards that guide behavior in the world of business
according to john donaldson “business ethics can be described as the systematic
study of moral (ethical) matters pertaining to business, industry or related
activities, institutions, or practices and beliefs. It is the systematic handling of
values in business and industry.”

WHY ETHICAL BEHAVIOR IS IMPORTANT???
• Business is a subsystem of society
• Empowers all stakeholders concerned
• Reduction in cost of friction with social environment
• Important for organizations leaders because they influence the ethical climate for
the rest.

WHY ETHICAL PROBLEMS OCCUR?
• Personal gain
• Individual values widely differ with organizational goals
• Managers values and attitudes
• Competitive pressures
• Cross-Cultural contradictions

(Affiliated to Guru Gobind Singh Indraprastha University and Approved
by Govt of NCT of Delhi & Bar Council of India)
COMMON MISCONDUCT IN ORGANIZATIONS
• Misrepresenting hours worked
• Employees lying to supervisors
• Management lying to employees, customers, vendors or the public
• Misuse of organizational assets
• Lying on reports/falsifying records
• Sexual harassment
• Stealing/theft
• Accepting or giving bribes or kickbacks

TOP WORK ETHICS
• Attendance
• Character
• Team Work
• Appearance
• Attitude
• Productivity
• Organizational Skills
• Communication
• Cooperation
• Respect

ETHICAL DILEMMA
• Ethical Dilemma – A situation that, although offering potential benefits, is
unethical. – One of the most common ethical dilemmas occurs when a company’s
culture conflicts with an employee’s personal ethics.

MANAGEMENT TIPS
• Checklist for dealing with ethical dilemmas –
• Step 1. Recognize the ethical dilemma.
• Step 2. Get the facts.
• Step 3. Identify your options. –
• Step 4. Test each option: Is it legal? Is it right? Is it beneficial?
• Step 5. Decide which option to follow
• Step 6. Ask the “Spotlight Questions”: To double check your decision. • “How
would I feel if my family found out about my decision?” • “How would I feel if the
local newspaper printed my decision?”
• Step 7. Take action.

CODE OF ETHICS FOR INDIAN INDUSTRY
• Accountable Business
• Transparent Business Standards
• Fair Competition
• Equal opportunities employer
• Health, Safety and Environment

THANK YOU

Business Environment and Ethical Practices (BBA LLB 213 )

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Business Environment and Ethical Practices (BBA LLB 213 )