This document discusses several areas of business ethics including managerial mischief, moral mazes, and the relevance of ethical values in business. It defines managerial mischief as illegal, unethical, or questionable practices by managers or organizations. Moral mazes include numerous ethical problems managers must deal with like potential conflicts of interest and misuse of resources. The document also notes that as society demanded businesses place higher value on fairness, laws and agencies were established to improve ethics, gradually making society better. It argues that attention to business ethics helps maintain moral guidance during times of change, cultivates strong teamwork and productivity, and supports employee growth and meaning.

2. AREAS OF BUSINESS
ETHICS

3. Business
Ethics
Managerial
Mischief
Moral
Mazes

4. Moral Mazes
• According to Madsen and Shafritz, managerial mischief is
“illegal, unethical or questionable practices of individual
managers or organizations.
Managerial Mischief
• Moral mazes includes numerous ethical problems that
managers must deal with, such as potential conflicts of
interest, wrongful use of resources, mismanagement of
contracts and agreements etc.

5. RELEVANCE OF ETHICAL
VALUES IN BUSINESS

6. There were many problems and unethical practices
existed in the past business field. Then the society
reacted and demanded that businesses place high value
on fairness and equal rights. Thus antitrust laws were
instituted, Govt. agencies were established, Unions
organized, Laws formed. Thus society gradually
improved.
1. Attention to business ethics has substantially
improved society.

7. 2. Ethics programs help maintain a moral course
in turbulent times
•Attention to business ethics is critical during times of
fundamental change. At these times there is no moral
tool to guide leaders through what is right or wrong.
Continuing attention to ethics in the workplace
sensitizes leaders and staff to how they should act
consistently.

8. 3. Ethics programs cultivate strong teamwork
and productivity.
•Usually an organization finds surprising disparity
between its preferred valued and the values actually
reflected by behaviors in the workplace.
•Ongoing attention & dialogue regarding values in the
workplace builds openness, integrity & community,
critical ingredients of strong teams in the workplace.
Employees feel strong alignment between their values
and they react with strong motivation & performance.

9. 4. Ethics programs support employee growth
and meaning.
•Attention to ethics in the workplace helps employees
face reality, both good & bad, in organization and
themselves. They feel full confidence they can admit
and deal with whatever comes their way.

10. Mgmt. Concepts and Business
Ethics
REFERENCE

11. Previous Year Exam Questions
1. Moral believes about what is right and what is
wrong is called ____________.(Ans: Ethics)
2. Discuss the relevance of ethics and values in
management.