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
Corporate governance is "the system by which companies are
directed and controlled". It involves regulatory and market
mechanisms, and the roles and relationships between a
company’s management, its board, its shareholders and other
stakeholders, and the goals for which the corporation is
governed. In contemporary business corporations, the main
external stakeholder groups are shareholders, debt holders,
trade creditors, suppliers, customers and communities affected
by the corporation's activities. Internal stakeholders are the
board of directors, executives, and other employees.
I wish to state that i prepared this report through the help of several books and guidelines by several persons .all the information quoted on the ppt is good as per my knowledge please see the 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”.
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
Corporate governance is "the system by which companies are
directed and controlled". It involves regulatory and market
mechanisms, and the roles and relationships between a
company’s management, its board, its shareholders and other
stakeholders, and the goals for which the corporation is
governed. In contemporary business corporations, the main
external stakeholder groups are shareholders, debt holders,
trade creditors, suppliers, customers and communities affected
by the corporation's activities. Internal stakeholders are the
board of directors, executives, and other employees.
I wish to state that i prepared this report through the help of several books and guidelines by several persons .all the information quoted on the ppt is good as per my knowledge please see the 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”.
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.
Honesty: Truth in all matters is key to fostering an ethical climate. Partial truths, omissions, and under or overstating don't help a business improve its performance. Bad news should be communicated and received in the same manner as good news so that solutions can be developed.
Introduction, definition,nature and scope,importance,types and field of ethics, CSR, CSR models, advantages and disadvantages, crisis management, team, planning process of crisis management.
2. What is ethics?
• Ethics is the branch of philosophy that focuses
on morality and the way in which moral
principles are applied to everyday life.
• Ethics has to do with fundamental questions
such as “What is fair?” “What is just?” “What is
the right thing to do in this situation?”
• Ethics involves an active process of applying
values, which may range from religious
principles to customs and traditions.
3. What is business ethics?
• Business ethics focuses on what constitutes
right or wrong behavior in the world of business.
• Corporate business executives have a
responsibility to their shareholders and
employees to make decisions that will help their
business make a profit. But in doing so,
businesspeople also have a responsibility to the
public and themselves to maintain ethical
principles.
4. • Although ethics provides moral guidelines, individuals
must apply these guidelines in making decisions.
• Ethics that applies to business (business ethics) is not a
separate theory of ethics; rather, it is an application of
ethics to business situations.
• Although all people have ethical responsibilities, higher
ethical standards are imposed upon professionals who
serve as social models, such as physicians, attorneys,
and businesspeople.
5. The Relationship Between Law
and Ethics
• The law is an expression of the ethical beliefs of our society.
• Law and ethics are not the same thing. The question, “Is an act
legal?” is different from the question, “Is an act ethical?”
• The law cannot codify all ethical requirements. Therefore, an action
might be unethical, yet not necessarily illegal. For example, it might
be unethical to lie to your family, but it is not necessary illegal
.
• Similarly, just because an act is illegal does not necessarily mean it is
immoral.
9. A code of conduct is framed by Council for Fair
Business Practices (CFBP) for its members.
The following are the highlights of code of
conduct of CFBP:
• To charge fair and reasonable prices.
• To ensure accuracy in weights and measures.
• To ensure that intermediaries do not manipulate the prices.
• To fulfill social responsibility towards various sections of the public
such as employees, customers, shareholders, government,
suppliers, competitors, dealings, and the general public.
• To pay attention to consumer rights.
• To provide product warranty in clear terms
• Not to engage in hoarding and profiteering.
• Not to adulterate the goods.
• Not to trade in sub- standard products, and also smuggled products.
• Not to undertake misleading and deceptive advertisements.
11. How Ethics Can Make Corporate
Governance More Meaningful?
• Corporate governance is meant to run companies ethically in a
manner such that all stakeholders – creditors, distributors,
customers, employees, the society at large and governments
are dealt in a fair manner.
• Good corporate governance should look at all stakeholders and
not just shareholders along. Otherwise, a chemical company,
for example, can maximize the profit of shareholders, but
completely violate all environment laws and make it impossible
for the people around the area to lead a normal life.
• Corporate governance is not something which regulators have
to impose on a management, it should come from within. There
is no point in making statutory provisions for enforcing ethical
conduct.
12. • 4.There is a lot of provisions in the companies
act, for example, in dealing with the following
issues: (1) disclosing the interest of directors in
contracts in which they are interested; (2)
abstaining from exercising voting rights in
matters they are interested; (3) statutory
protection to auditors who are supposed to go
into the details of the financial management of
the company and report the same to the
shareholders of the company.
13. • There is a number of grey areas where the
law is silent or where regulatory
framework is weak, which are manipulate
by unscrupulous persons