Business ethics
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Business ethics examines ethical problems that arise in business environments and applies to both individual and organizational conduct. It comprises principles that guide behavior regarding what is right and wrong in business decisions and actions. There are two key branches: descriptive ethics scientifically studies moral beliefs and practices; normative ethics determines what is morally right or wrong through principles and theories. Encouraging ethical behavior in organizations involves communicating ethics codes, managers serving as role models of ethical conduct, disciplinary actions for unethical behavior, and rewards for ethical behavior.
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Business ethics
Business ethics is a branch of social science that deals with moral principles and values in business situations. It helps classify what is good and bad, and tells businesses to do good things and avoid harm. Business ethics provides a framework for conducting business within social, cultural, economic and legal limits. It is based on concepts like self-control, consumer protection, fair treatment, and not exploiting others. While business ethics should be voluntary, education and guidance are needed for its effective implementation.
Business ethics ppt for students (1)
This document discusses business ethics and values. It defines values and ethics, and distinguishes between instrumental values which are behaviors and terminal values which are desirable end states. Ethics establishes moral standards for judging right and wrong conduct. Business ethics comprises the principles that guide behavior in business. Encouraging ethical conduct involves ethics training, protecting whistleblowers, having an ethics advocate, and establishing a clear code of 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.
Business ethics
Business ethics deals with applying principles of morality and values to business activities. It helps establish a framework of conduct for businesses through codes of conduct, protection of social groups, and guidance. Maintaining business ethics provides advantages to all stakeholders by improving consumer confidence, creating a good company image, and ensuring fair treatment of employees, consumers, and society. Upholding business ethics is essential for the long-term success and reputation of a company.
Ethics in business
Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations
13.1 Ethical Behavior
This document discusses ethics and ethical behavior in business. It defines ethics as having guidelines for human behavior and choosing between right and wrong. Ethical behavior means consciously choosing to do right. A code of ethics provides a set of rules to guide individuals and businesses. For businesses, it means applying principles of right and wrong to workplace situations. A business has ethical responsibilities towards customers, employees, and the community it operates in.
Business Ethics
This document provides an overview of ethics and business ethics. It begins with definitions of ethics, personal ethics, professional ethics, and business ethics. It then discusses the history of ethics and principles of personal and professional ethics. It also covers institutionalizing ethics through codes of conduct, ethical committees, and the significance and need for business ethics. Additional sections define values and ethics, explain how corporations can observe ethics, and discuss ethical decision making and dilemmas in business. The document concludes with a case study example.
Introduction of business ethics
This document provides an introduction to business ethics. It discusses how business ethics prescribes standards for how business should be conducted, with responsibilities to stakeholders. Ethical behavior is defined as behavior that is morally good and right. Benefits of ethical behavior include higher revenues, improved brand recognition, and better employee motivation and recruitment. The relationship between business and ethics is discussed, noting that businesses with strong ethics are more prosperous. The importance of ethics in business is outlined, including ensuring goodwill, profitability, and sustainability. Different types of ethics like normative and applied ethics are mentioned. The distinctions between morality, legality, and ethics are introduced. The concept of rights and duties are discussed. Factors that make an organization ethical are
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Business ethics
Business ethics is a branch of social science that deals with moral principles and values in business situations. It helps classify what is good and bad, and tells businesses to do good things and avoid harm. Business ethics provides a framework for conducting business within social, cultural, economic and legal limits. It is based on concepts like self-control, consumer protection, fair treatment, and not exploiting others. While business ethics should be voluntary, education and guidance are needed for its effective implementation.
Business ethics ppt for students (1)
This document discusses business ethics and values. It defines values and ethics, and distinguishes between instrumental values which are behaviors and terminal values which are desirable end states. Ethics establishes moral standards for judging right and wrong conduct. Business ethics comprises the principles that guide behavior in business. Encouraging ethical conduct involves ethics training, protecting whistleblowers, having an ethics advocate, and establishing a clear code of 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.
Business ethics
Business ethics deals with applying principles of morality and values to business activities. It helps establish a framework of conduct for businesses through codes of conduct, protection of social groups, and guidance. Maintaining business ethics provides advantages to all stakeholders by improving consumer confidence, creating a good company image, and ensuring fair treatment of employees, consumers, and society. Upholding business ethics is essential for the long-term success and reputation of a company.
Ethics in business
Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations
13.1 Ethical Behavior
This document discusses ethics and ethical behavior in business. It defines ethics as having guidelines for human behavior and choosing between right and wrong. Ethical behavior means consciously choosing to do right. A code of ethics provides a set of rules to guide individuals and businesses. For businesses, it means applying principles of right and wrong to workplace situations. A business has ethical responsibilities towards customers, employees, and the community it operates in.
Business Ethics
This document provides an overview of ethics and business ethics. It begins with definitions of ethics, personal ethics, professional ethics, and business ethics. It then discusses the history of ethics and principles of personal and professional ethics. It also covers institutionalizing ethics through codes of conduct, ethical committees, and the significance and need for business ethics. Additional sections define values and ethics, explain how corporations can observe ethics, and discuss ethical decision making and dilemmas in business. The document concludes with a case study example.
Introduction of business ethics
This document provides an introduction to business ethics. It discusses how business ethics prescribes standards for how business should be conducted, with responsibilities to stakeholders. Ethical behavior is defined as behavior that is morally good and right. Benefits of ethical behavior include higher revenues, improved brand recognition, and better employee motivation and recruitment. The relationship between business and ethics is discussed, noting that businesses with strong ethics are more prosperous. The importance of ethics in business is outlined, including ensuring goodwill, profitability, and sustainability. Different types of ethics like normative and applied ethics are mentioned. The distinctions between morality, legality, and ethics are introduced. The concept of rights and duties are discussed. Factors that make an organization ethical are
Business ethics
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This document discusses business ethics. It defines ethics as rules that define right and wrong conduct, and business ethics as the written and unwritten codes that govern decisions and actions within a company. It notes that ethical issues include the relationships between a company and its employees, suppliers, customers, and neighbors, as well as its fiduciary duty to shareholders. The document outlines advantages of ethical behavior such as higher revenues, improved brand recognition, better employee motivation and recruitment, an enhanced reputation, and new sources of financing. It concludes that ethics are important not only in business but in all aspects of life as they are essential to a civilized society, and that businesses or societies without ethical principles are bound to fail.
Business Ethics an Introduction
This document discusses ethics and business ethics. It defines ethics as the study of good and bad behavior and morality. Business ethics refers to applying ethical standards to business practices and decisions. The document outlines several approaches to ethical standards like utilitarianism and virtue ethics. It also discusses ethical dilemmas that can arise in business when there are conflicts between ethical decisions and business interests. Overall, the document provides an overview of ethics and emphasizes the importance of following ethical practices in business.
Business ethics
Business ethics is the study of moral principles and values that govern decisions and actions within a company. It focuses on standards of behavior that promote human welfare and good decision making. There are three key aspects of business ethics: compliance with laws, contributing to society, and considering the consequences of decisions and actions. Business ethics deals with human conduct in a way that creates goodwill, earns loyalty, and brings together moral values and corporate interests for long term success.
Mba business ethics ppt
This document discusses the importance of ethics and values in business. It defines business ethics as examining ethical principles and problems that arise in business environments. Upholding ethics influences employee commitment, customer loyalty, legal compliance, reputation, and profits. While business norms have evolved over history, core values like justice, honesty and integrity remain important. An ethical business treats employees and customers fairly, is transparent, and considers impacts on society.
Business Ethics
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.
Business ethics(presentation)
Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company.
In the business world, the organization’s culture sets standards for determining the difference between good and bad decision making and behavior.
Importance of-business-ethics
This document discusses the importance of business ethics. It notes that ethical behavior and corporate social responsibility can boost sales, reduce employee turnover, attract more talented employees, and attract investors, protecting a company's share price. Unethical behavior may damage a company's reputation and lower profits. The document outlines foundations of ethical behavior like treating others well and outlines some common ethical issues businesses face like honesty, fair compensation, and respecting others. It discusses how ethics can contribute to employee commitment, investor loyalty, customer satisfaction, and relationships with stakeholders. The conclusion emphasizes that an integrity approach to business can strengthen competitiveness and improve work life and relationships.
Introduction To Business Ethics
This document discusses business ethics and provides guidance on establishing an ethical work environment. It defines ethics and explains why business ethics are important. It also outlines key features of an effective compliance and ethics program, the role of a corporate ethics officer, how management can influence employee behavior, and a seven step process for ethical decision making. Finally, it includes a ten item checklist for managers to establish an ethical work environment in their organization.
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This document provides an overview of business ethics. It defines business ethics as written and unwritten codes that govern decisions and actions within a company. It discusses the nature, types, factors, need, and scope of business ethics. It also covers corporate social responsibility, crisis management, and issues related to the management of ethics. The key aspects covered include defining ethics, distinguishing between ethical theories, outlining principles and characteristics of business ethics, and examining the relationship between ethics and corporate governance, social responsibility, and crisis management.
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The document discusses business ethics, defining it as the examination of moral principles in a business context. It applies to all aspects of business conduct for individuals and entire organizations. The document outlines 12 key principles of business ethics including honesty, integrity, fairness, concern for others, and accountability. It also discusses the scope of business ethics in various business functions such as compliance, finance, human resources, marketing, production, and intellectual property rights.
04 ethical decision making
This document discusses ethical decision making and resolving ethical dilemmas. It begins by defining ethical behavior and identifying common myths about business ethics. An ethical dilemma is described as a complex situation with no clear right or wrong answer that involves balancing different interests. The document then outlines several approaches for resolving dilemmas, including using utilitarian, rule-based, and care-based thinking. It also discusses the whistleblowing process and provides a 10-step framework for ethical decision making. Finally, the document analyzes different tests that can be applied to potential decisions, such as considering benefits and costs, and whether the action could withstand public scrutiny.
Business ethics ppt
The law is the key starting point for any business. Most leading businesses also have their own statement of Business Principles which set out their core values and standards. In Anglo American”s case, this is called “Good Citizenship”.
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Managerial ethics refers to ethical standards and principles that guide managers' decisions and behavior in an organization. There are three main types of managerial ethics: immoral management which lacks ethics; moral management which adheres to high ethical standards; and amoral management which either does not consider ethics or is careless about them. To improve ethical behavior, managers should hire ethically, establish codes of ethics, lead by ethical example, provide ethics training, conduct audits, and support those facing dilemmas. Ethical decision making involves evaluating options based on ethical principles to select the most ethical alternative.
Business Ethics
Business ethics has been a concern since ancient times of "caveat emptor" or buyer beware. Modern interest arose in the 1960s with environmentalism and consumerism. Business ethics involves operating legally but also meeting societal values. However, there is no agreement on how far beyond legal requirements ethics requires businesses to go. Establishing a values statement and leading ethically can help businesses operate in an ethical manner and benefit through higher employee loyalty and lower misconduct.
Business Ethics
This document provides an overview of business ethics, outlining several key issues and topics within the field. It discusses the history of business and money, then covers general issues in business ethics like corporate social responsibility. It also examines specific areas of business ethics including accounting, human resource management, sales and marketing, production, intellectual property, technology, and international business. It concludes by discussing theoretical issues in business ethics and the importance of ethics in business.
Business Ethics and Social Responsibility
This document discusses business ethics and social responsibility. It provides definitions of business ethics as examining ethical principles and problems that arise in business. It discusses major branches of ethics including meta-ethics, normative ethics, and applied ethics. It also lists some common ethical issues in business such as employee and customer relations. The document emphasizes the importance of business ethics and provides Gandhi's perspective of treating business as a form of service and running it honestly.
Ethics in Business?
Complete knowledge on the relation of Ethics from a Business perspective.
Go through the slides and learn how business relates to modern business.
#business ethics
Business Ethics Lecture 2 & 3
The document discusses business ethics and corporate social responsibility, outlining key concepts such as moral values, norms, judgments, and the differences between right and wrong, good and bad. It also examines the importance of business ethics for developing employees' critical thinking skills and preparing them for ethical issues in their careers. Stakeholders are identified as important considerations for businesses in ensuring ethical and socially responsible practices.
business ethics
This document provides an overview of business ethics concepts. It defines ethics and discusses principles of both professional and personal ethics. Business ethics is defined as applying general ethical ideas to business behavior based on integrity and fairness while considering both internal and external stakeholders. Several ethical theories are covered, including utilitarianism, Kantian ethics, and virtue ethics. The document also discusses the evolution of business ethics over time and the importance of managing ethics in organizations.
BE&CG.pptx
This document discusses the concepts of ethics and business ethics. It can be summarized as follows:
1. Ethics is a branch of philosophy that involves examining concepts of right and wrong conduct and moral behavior in humans. Business ethics applies these ethical principles and frameworks to business behavior and decisions.
2. Business ethics is based on principles of integrity and fairness, and focuses on benefiting all stakeholders of a business, both internal and external. Stakeholders include shareholders, employees, customers, and society.
3. Implementing ethical practices in business can have benefits like creating rapport with the public, improving organizational effectiveness, promoting healthy competition, and benefiting all stakeholders of a business. Strong business ethics can ultimately help businesses succeed
BE&CG.pptx
Business ethics is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct in business. It is based on principles of integrity and fairness and concentrates on benefits to stakeholders, both internal and external. Some key factors that influence business ethics include leadership, corporate culture, strategy and performance, environmental factors, and individual characteristics. There are also different types of ethics considered in business such as transactional ethics, participatory ethics, and recognition ethics.
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This document discusses business ethics. It defines ethics as rules that define right and wrong conduct, and business ethics as the written and unwritten codes that govern decisions and actions within a company. It notes that ethical issues include the relationships between a company and its employees, suppliers, customers, and neighbors, as well as its fiduciary duty to shareholders. The document outlines advantages of ethical behavior such as higher revenues, improved brand recognition, better employee motivation and recruitment, an enhanced reputation, and new sources of financing. It concludes that ethics are important not only in business but in all aspects of life as they are essential to a civilized society, and that businesses or societies without ethical principles are bound to fail.
Business Ethics an Introduction
This document discusses ethics and business ethics. It defines ethics as the study of good and bad behavior and morality. Business ethics refers to applying ethical standards to business practices and decisions. The document outlines several approaches to ethical standards like utilitarianism and virtue ethics. It also discusses ethical dilemmas that can arise in business when there are conflicts between ethical decisions and business interests. Overall, the document provides an overview of ethics and emphasizes the importance of following ethical practices in business.
Business ethics
Business ethics is the study of moral principles and values that govern decisions and actions within a company. It focuses on standards of behavior that promote human welfare and good decision making. There are three key aspects of business ethics: compliance with laws, contributing to society, and considering the consequences of decisions and actions. Business ethics deals with human conduct in a way that creates goodwill, earns loyalty, and brings together moral values and corporate interests for long term success.
Mba business ethics ppt
This document discusses the importance of ethics and values in business. It defines business ethics as examining ethical principles and problems that arise in business environments. Upholding ethics influences employee commitment, customer loyalty, legal compliance, reputation, and profits. While business norms have evolved over history, core values like justice, honesty and integrity remain important. An ethical business treats employees and customers fairly, is transparent, and considers impacts on society.
Business Ethics
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.
Business ethics(presentation)
Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company.
In the business world, the organization’s culture sets standards for determining the difference between good and bad decision making and behavior.
Importance of-business-ethics
This document discusses the importance of business ethics. It notes that ethical behavior and corporate social responsibility can boost sales, reduce employee turnover, attract more talented employees, and attract investors, protecting a company's share price. Unethical behavior may damage a company's reputation and lower profits. The document outlines foundations of ethical behavior like treating others well and outlines some common ethical issues businesses face like honesty, fair compensation, and respecting others. It discusses how ethics can contribute to employee commitment, investor loyalty, customer satisfaction, and relationships with stakeholders. The conclusion emphasizes that an integrity approach to business can strengthen competitiveness and improve work life and relationships.
Introduction To Business Ethics
This document discusses business ethics and provides guidance on establishing an ethical work environment. It defines ethics and explains why business ethics are important. It also outlines key features of an effective compliance and ethics program, the role of a corporate ethics officer, how management can influence employee behavior, and a seven step process for ethical decision making. Finally, it includes a ten item checklist for managers to establish an ethical work environment in their organization.
Introduction to ethics, business ethics and csr
This document provides an overview of business ethics. It defines business ethics as written and unwritten codes that govern decisions and actions within a company. It discusses the nature, types, factors, need, and scope of business ethics. It also covers corporate social responsibility, crisis management, and issues related to the management of ethics. The key aspects covered include defining ethics, distinguishing between ethical theories, outlining principles and characteristics of business ethics, and examining the relationship between ethics and corporate governance, social responsibility, and crisis management.
Business ethics
The document discusses business ethics, defining it as the examination of moral principles in a business context. It applies to all aspects of business conduct for individuals and entire organizations. The document outlines 12 key principles of business ethics including honesty, integrity, fairness, concern for others, and accountability. It also discusses the scope of business ethics in various business functions such as compliance, finance, human resources, marketing, production, and intellectual property rights.
04 ethical decision making
This document discusses ethical decision making and resolving ethical dilemmas. It begins by defining ethical behavior and identifying common myths about business ethics. An ethical dilemma is described as a complex situation with no clear right or wrong answer that involves balancing different interests. The document then outlines several approaches for resolving dilemmas, including using utilitarian, rule-based, and care-based thinking. It also discusses the whistleblowing process and provides a 10-step framework for ethical decision making. Finally, the document analyzes different tests that can be applied to potential decisions, such as considering benefits and costs, and whether the action could withstand public scrutiny.
Business ethics ppt
The law is the key starting point for any business. Most leading businesses also have their own statement of Business Principles which set out their core values and standards. In Anglo American”s case, this is called “Good Citizenship”.
Ethics in management
Managerial ethics refers to ethical standards and principles that guide managers' decisions and behavior in an organization. There are three main types of managerial ethics: immoral management which lacks ethics; moral management which adheres to high ethical standards; and amoral management which either does not consider ethics or is careless about them. To improve ethical behavior, managers should hire ethically, establish codes of ethics, lead by ethical example, provide ethics training, conduct audits, and support those facing dilemmas. Ethical decision making involves evaluating options based on ethical principles to select the most ethical alternative.
Business Ethics
Business ethics has been a concern since ancient times of "caveat emptor" or buyer beware. Modern interest arose in the 1960s with environmentalism and consumerism. Business ethics involves operating legally but also meeting societal values. However, there is no agreement on how far beyond legal requirements ethics requires businesses to go. Establishing a values statement and leading ethically can help businesses operate in an ethical manner and benefit through higher employee loyalty and lower misconduct.
Business Ethics
This document provides an overview of business ethics, outlining several key issues and topics within the field. It discusses the history of business and money, then covers general issues in business ethics like corporate social responsibility. It also examines specific areas of business ethics including accounting, human resource management, sales and marketing, production, intellectual property, technology, and international business. It concludes by discussing theoretical issues in business ethics and the importance of ethics in business.
Business Ethics and Social Responsibility
This document discusses business ethics and social responsibility. It provides definitions of business ethics as examining ethical principles and problems that arise in business. It discusses major branches of ethics including meta-ethics, normative ethics, and applied ethics. It also lists some common ethical issues in business such as employee and customer relations. The document emphasizes the importance of business ethics and provides Gandhi's perspective of treating business as a form of service and running it honestly.
Ethics in Business?
Complete knowledge on the relation of Ethics from a Business perspective.
Go through the slides and learn how business relates to modern business.
#business ethics
Business Ethics Lecture 2 & 3
The document discusses business ethics and corporate social responsibility, outlining key concepts such as moral values, norms, judgments, and the differences between right and wrong, good and bad. It also examines the importance of business ethics for developing employees' critical thinking skills and preparing them for ethical issues in their careers. Stakeholders are identified as important considerations for businesses in ensuring ethical and socially responsible practices.
business ethics
This document provides an overview of business ethics concepts. It defines ethics and discusses principles of both professional and personal ethics. Business ethics is defined as applying general ethical ideas to business behavior based on integrity and fairness while considering both internal and external stakeholders. Several ethical theories are covered, including utilitarianism, Kantian ethics, and virtue ethics. The document also discusses the evolution of business ethics over time and the importance of managing ethics in organizations.
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This document discusses the concepts of ethics and business ethics. It can be summarized as follows:
1. Ethics is a branch of philosophy that involves examining concepts of right and wrong conduct and moral behavior in humans. Business ethics applies these ethical principles and frameworks to business behavior and decisions.
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Business Ethics is a form of Applied Ethics. It originates from individuals, organizational
statements or from the legal system. It can be said to be the attitude, culture and manner of doing
business by the business community. Decision Making: It is our means of deciding a course of action. Without it our actions would be random and aimless.
Leadership: The conscious effort to adopt, integrate, and emulate the other 11 principles to guide decisions and behavior in all aspects of professional and personal life.
Accountability: Holding yourself and others responsible for their actions. Commitment to following ethical practices and ensuring others follow ethics guidelines.
Integrity: Incorporates other principles—honesty, trustworthiness, and reliability. Someone with integrity consistently does the right thing and strives to hold themselves to a higher standard.
Respect for others: To foster ethical behavior and environments in the workplace, respecting others is a critical component. Everyone deserves dignity, privacy, equality, opportunity, compassion, and empathy.
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1. Business ethics examines ethical principles and problems that arise in business. It applies to how businesses interact with the world and customers.
2. There are often conflicts between serving the interests of employees, businesses, and society. Different views exist on a business's moral duties.
3. Business ethics establishes standards for right and wrong behavior in business based on public interests, organizations, and individuals' values. It distinguishes ethical from unethical conduct.
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Here are short notes on the requested topics:
a) Ethical Decision Making:
- Ethical decision making involves identifying the problem, generating alternatives, deciding on a course of action, and implementing it. It is important to consider all stakeholders and evaluate options based on ethical principles.
b) Ethics in Contemporary Business:
- Key aspects of ethics in modern business include integrity, loyalty, trustworthiness, honesty, respect, fairness, leadership, transparency, and cultivating an ethical organizational climate. Ethical values guide decision making and relationships with all stakeholders.
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201228429 slideshare
This document discusses ethics and ethical behavior in organizations. It addresses key questions such as what constitutes ethical behavior, how ethical dilemmas arise in the workplace, and how organizations can maintain high ethical standards. Ethical behavior is defined as actions that conform to moral principles and are considered good and right. Upholding ethics helps organizations through benefits like developing trust with employees and customers. Techniques for maintaining ethics include training, role modeling by leaders, and establishing codes of conduct. The document also examines corporate social responsibility and how organizations should serve societal interests in addition to their own.
Business ethics
This slide gives information about the
MEANING OF BUSINESS ETHICS
MEANING OF ETHICAL MODEL
PERFORMANCE OF ETHICS IN BUSINESS
ADVANTAGES OF ETHICS IN BUSINESS
FACTORS INFLUENCING ETHICS
TYPES OF MODEL
THIS INCLUSIVE OF M.COM AND FOR B.COM STUDENTS
THIS TOPIC IS INCLUSIVE OF BOTH SYLLABUS.
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The document discusses business ethics and social responsibility, noting that business ethics are the principles that define acceptable conduct while social responsibility is a business's obligation to benefit society. It addresses recognizing ethical issues, categories of ethical issues including conflicts of interest and communications, and determining if an action is ethical by considering laws, policies, values, and peer acceptance. The nature of social responsibility and arguments for and against it are examined along with key social responsibility issues and the role of an ethics officer.
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Business ethics
- 2. Definition of business ethics business ethics (corporate ethics) is a form of applied ethics or professional ethics that examines the ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.
- 3. What does business ethics mean? • comprises principles and standards that guide behavior in the world of business • acceptable or unacceptable behavior within or outside the organization • is determined by key stakeholders • what is right and wrong, good and bad, and harmful or beneficial regarding decisions and actions in & around organizational activities
- 4. Two key branches of business ethics Descriptive ethics Normative ethics the scientific study of moral beliefs and practices, to describe how people behave and think when dealing with moral issues and arguments. the study of principles, rules, or theories that guide our actions and judgments, To determine what actually is morally right or wrong.
- 5. 12 principles of business ethics Honesty : be honest in all communications and actions Integrity: maintain personal integrity Promise-keeping: keep promises and fulfill commitments Loyalty: be loyal within the framework of other ethical principles Fairness: strive to be fair and just in all dealings.
- 6. Caring: demonstrate compassion an a genuine concern for the well being of the others Respect for others: treat everyone with respect Law abiding: obey the law Commitment to excellence: pursue excellence all the time in all things Leadership: exemplify honor and ethics Reputation and morale: build and protect the company’s good reputation and the morale of its employees Accountability: be accountable
- 7. Importance of business ethics Ethical motivation: it protects or improves reputation of the organization by creating efficient and productive environment. Balance the needs and wishes of stakeholders: business ethics requires businesses to think about the impact of its decision on stakeholders who are directly or indirectly affected by those decision.
- 8. Global challenges: business must be aware of the ethical diversity of this world because of increasing globalization of thee economy. Ethical pay-off: they serve to protect the organization from significant risks and to some degree help grow the business. Preventing civil law suits: giving employees an internal outlet can solve problems without the event becoming public knowledge or an issue for the courts.
- 9. Market leadership : when a company fully integrates its values into its culture, quality rises due to the employees focus on the values. Customers sees that the employees care more about the customers concerns. Setting the example: by setting the example in the community and the market the entire industry has a new standard that allows the community and the market to recognize the company as a leader.
- 10. Ethical issues in business o Discrimination o Gross negligence o Pay equality o Conflicts of interests o Harassment
- 11. Encouraging ethical behavior in organization I. Communicating the code of ethics II. Making the managers as role model (i) employees will have a guiding force to promote ethical behavior. (ii)employees tend to emulate the managers & if they are ethical in their behaviors, it lends more creditability to the code of ethics (iii)if managers strictly adhere to ethical standards themselves, employees feel less reluctant to oppose the guidelines laid out for ethical behavior. III. Disciplinary actions for unethical behavior IV. Rewards for ethical behavior.