This document discusses business ethics. It begins by defining ethics and explaining how the concept of business ethics emerged in the 1960s as companies took more responsibility for their impact on society, environment, and stakeholders. It then outlines several key aspects of business ethics, including its meaning as principles and codes of conduct that guide business behavior, its nature as a relative but applicable concept, and why businesses should act ethically to protect interests, commitments, expectations, and prevent harm. The document also lists several principles of business ethics and explains the importance of ethics for business image, functions, consumer satisfaction, competition, and relations. It concludes that ethics are essential for a civilized society and that businesses without ethical principles cannot survive long-term.

1. PRESENTED TO : PRESENTED BY:
MISS. DEEPIKA VAIBHAV CHUGH
H.S.B, G.J.U.S&T M.COM (F)
HISAR 170101030048

2. Contents :
• Introduction
• Meaning of Business Ethics
• Nature of Business Ethics
• Why should business act ethically ?
• Principles of business ethics
• Importance of business ethics
• Conclusion

3. Introduction :
• The word ethics is derived from the Greek word
ethikos meaning character.
• This concept came in 1960, when companies take
the responsibility towards the environment ,
society & stakeholders
• Ethics is a conception of right and wrong
behavior, defining for us when our actions are
moral and when they are immoral
• It’s a branch of philosophy and is considered as a
normative science because it is concerned with
human concerned unlike other science.

4. Business Ethics
• Business ethics comprises all of these values
and principles that helps in guiding the
behavior in the organization.
• Business ethics is a sum total of principles and
code of conduct that businessman should
follow while dealing with their fellowmen such
as employee, investors, customers etc. and
comply with to enact the law of land

5. Nature of Business Ethics
• Code of conduct
• Relative term
• Applicable to all business
• Provides basic framework
• Give protection to social groups
• New concept

6. Why should business act ethically ?
• To protect its own interest
• To protect the interests of the business
community as a whole so that the public will have
trust in it.
• To keep its commitment to society to act ethically
• To meet shareholder expectations
• To prevent harm to the general public
• To protect themselves from abuse of unethical
employees and competitors
• To earning goodwill

7. Principles of business ethics
• Principle of integrity
• Principle of confidentiality
• Principle of honesty
• Principle of duty of care
• Principle of avoiding conflict of interest
• Principle of leadership
• Principle of service motive

8. Importance of business ethics
• Creates good image
• Smooth functioning
• Consumer movement
• Consumer satisfaction
• Importance of labor
• Healthy competition
• Stop business malpractices
• Survival of business
• Safeguard consumers right
• Develop god relations

9. Ethics are important not only in
business but in all aspects of life because it
is an essential part of the foundation on
which of a civilized society is build.
A business which lacks ethical principles
that can’t survive for long .