Uploaded byDr Manu H Natesh
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.
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Business ethics
- 1. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in
- 2. ethics • moral principlesthat govern a person's behaviour or the conducting of an activity • the branch of knowledge that deals with moral principles. • fundamental principles of decent human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 3. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in
- 4. Business ethics • Businessethics (also corporate ethics) is a form of applied ethics or professionalethics 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. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 5. Need or Importanceof Business Ethics MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 6. Principles of BusinessEthics • 12 Ethical Principles • Honesty • Integrity • Promise-Keeping & Trustworthiness • Loyalty • Fairness • Concern for Others • Respect for Others • Law Abiding • Commitment to Excellence • Leadership • Reputation & Morale • Accountability MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
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- 8. SCOPE OF BUSINESSETHICS • Ethics in Compliance Compliance is about obeying and adhering to rules and authority. The motivation for being compliant could be to do the right thing out of the fear of being caught rather than a desire to be abiding by the law. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 9. Ethics in Finance Theethical issues in finance that companies and employees are confronted with include: • In accounting – window dressing, misleading financial analysis. • Related party transactions not at arm’s length • Insider trading, securities fraud leading to manipulation of the financial markets. • Executive compensation. • Bribery, kickbacks, over billing of expenses, facilitation payments. • Fake reimbursements MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 10. Ethics in HumanResources • Human resource management (HRM) plays a decisive role in introducing and implementing ethics. Ethics should be a pivotal issue for HR specialists. The ethics of human resource management (HRM) covers those ethical issues arising around the employer-employee relationship, such as the rights and duties owed between employer and employee. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 11. Ethics in HumanResources • Discrimination issues i.e. discrimination on the bases of age, gender, race, religion, disabilities, weight etc. • Sexual harassment. • Affirmative Action. • Issues surrounding the representation of employees and the democratization of the workplace, trade ization. • Issues affecting the privacy of the employee: workplace surveillance, drug testing. • Issues affecting the privacy of the employer: whistle-blowing. • Issues relating to the fairness of the employment contract and the balance of power between employer and employee. • Occupational safety and health.MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 12. Ethics in Marketing •Pricing: price fixing, price discrimination, price skimming. • Anti-competitive practices like manipulation of supply, exclusive dealing arrangements, tying arrangements etc. • Misleading advertisements • Content of advertisements. • Children and marketing. • Black markets, grey markets. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 13. Ethics of Production •Defective, addictive and inherently dangerous products and • Ethical relations between the company and the environment include pollution, environmental ethics, and carbon emissions trading. • Ethical problems arising out of new technologies for eg. Genetically modified food • Product testing ethics MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 14. Ethics in IPRknowledge and skills • Patent infringement • Patent misuse • Copyright infringement • Copyright misuse • Trademark infringement • Misuse of IPR’s MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
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- 16. Types of Ethics •Transactional ethics • Participatory ethics • Recognitional ethics MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 17. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in
- 18. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in
- 19. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in
- 20. Field of ethics •1. Descriptive Ethics: Different societies have different moral standards. 2. Normative Ethics : This action is wrong in this society, but it is right in another. • 3. Analytic Ethics : Morality is relative. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 21. • Descriptive Ethics Thecategory of descriptive ethics is the easiest to understand - it simply involves describing how people behave and/or what sorts of moral standards they claim to follow. Descriptive ethics incorporates research from the fields of anthropology, psychology, sociology and history as part of the process of understanding what people do or have believed about moral norms. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 22. • Normative Ethics Thecategory of normative ethics involves creating or evaluating moral standards. Thus, it is an attempt to figure out what people should do or whether their current moral behavior is reasonable. Traditionally, most of the field of moral philosophy has involved normative ethics - there are few philosophers out there who haven't tried their hand at explaining what they think people should do and why. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 23. • Analytic Ethics(Metaethics) The category of analytic ethics, also often referred to as metaethics, is perhaps the most difficult of the three to understand. In fact, some philosophers disagree as to whether or not it should be considered an independent pursuit, arguing that it should instead be included under Normative Ethics. Nevertheless, it is discussed independently often enough that it deserves its own discussion here. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 24. SOURCES OF ETHICALSTANDARDS • The utilitarian approach • The right approach(deontological) • The fairness or justice approach • The common good approach • The virtue approach MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 25. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in
- 26. Factors influencing BusinessEthics • Leadership • Individual characteristics • Environment • Corporate culture • Strategy and performance MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
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- 28. Importance of BusinessEthics • Goodwill • Profitability • Survival of business • Healthy competition • Customer satisfaction • Safeguarding consumer rights • Protecting employees and shareholders • Smooth function of business • Consumer movement • Importance of labor MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
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- 30. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in
- 31. MANU H NATESHMBA,M.Com. BMSEAC manu@bmsec.ac.in