This document discusses business ethics and its importance. Business ethics is a branch of ethics that establishes standards for how businesses should operate. Ethical behavior in business is considered morally right and benefits companies through higher revenues from customer support, improved branding, better employee recruitment and retention, and access to ethical investors. Adopting strong codes of ethics makes businesses more prosperous long-term by enhancing their reputation. Ethics are important for business success through generating goodwill, ensuring profitability and the company's survival, building relationships with stakeholders, and controlling costs.

1. Introduction
• Business ethics is a branch of ethics which prescribes
standards of how the business is to be carried out.
• Guidelines to stakeholders
• The responsibility of the managers and employees
• The application of ethical judgments to business
activities.
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2. Business Ethics
The study and examination of moral and social responsibility in
relation to business practice and decision making in business is
known as
“Business Ethics”.
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3. WHAT IS ETHICAL BEHAVIOUR?
 Ethical behavior is that which is morally accepted as "good" and
"right"
as opposed to "bad" or "wrong"
 The advantages of ethical behaviour include:
• Higher revenues – demand from positive consumer support
• Improved brand and business awareness and recognition
• Better employee motivation and recruitment
• New sources of finance – e.g. from ethical investors
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4. Relationship between
Business and Ethics
• Businesses that exhibit and promote strong corporate codes of
ethics are more prosperous in the long run.
• Enhances a company's reputation.
• The highly competitive environment in today's global economy
puts pressures on company leaders to remain profitable.
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5. Need for Business Ethics
• Introducing Socialism in Business
• Interest of Industry
• Buyers Market
• Better Relations with Society
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6. Importance of ethics in business
• Goodwill
• Profitability
• Going concern is assured
• Sustainability
• Survival of heated competition
• Safety from legal perspectives.
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7. Why is it important ?
Ethics influence and contribute to:
• Employee commitment.
• Investor and customer loyalty and confidence.
• Legal problems and penalties.
• Customer satisfaction.
• The ability to build relationships with stakeholders.
• Cost control.
• Performance, revenue, and profits.
• Reputation and image.
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8. Presented By :
1. Rohit Kochhar
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