This document outlines objectives related to understanding ethical management. It defines ethical management and discusses the need for ethical management in business to minimize risks and achieve long-term survival and success. It compares ethical management to strategic management, noting that ethical management helps set moral standards while strategic management helps achieve those standards. The document suggests models for incorporating ethics into the strategic management process and decision making to help ensure long-term success.

3. OBJECTIVES:
 To understand the concept of ethical management.
 To understand the need for ethical management in business
and profession.
 To compare and contrast between ethical management and
strategic management.
 To understand the need and importance for ethical
incorporation in strategic management process and
decision making.
 To suggest the model for Ethical Strategic Management
Process.
 To suggest the model for Ethical Strategic Management
Decision Making.

4. What is Ethical Management?
 “Ethical management means, with a positive, subjective
attitude: observation of corporate ethics; carrying on
all economical, legal responsibilities of the corporation;
recognizing personal responsibilities as corporation
obligations; and first taking ethical aspect into
consideration when pursuit of personal gains corporate
ethics.”*1
-Korea National Oil Corporation

8. Need for ethical management in Business:
 Minimizing business risks.
 Long-term survival and success.
 Achieving sustainable development.
 Strengthening of organizational structure.
 Increases public value and market share.

9. ETHICAL MANAGEMENT vs. STRATEGIC MANAGEMENT
 Strategy can be framed by due intelligence of a person,
whereas ethics can be framed by fixing moral values and
standards.
 Strategic management will not help in fixing the standards
rather it helps in achieving the standards. But ethical
management helps in fixing the standards. And while fixing
the standards it considers the achievability, so it fixes the
achievable standards.
 Strategies differ from organization to organization, but
ethical practices are universal, it considers the universally
accepted code of ethics.

10. ETHICAL MANAGEMENT vs. STRATEGIC MANAGEMENT
 Strategic practices are not questionable, whereas the ethical
practices are questionable when they are not followed.
 Strategic management is short term –oriented and achieves
short term objective. Whereas ethical management is long
term oriented seeking long term success.
 Strategists find answers to questions like how I can win.
What I can do to win? It always finds winning mantra to be
success. And on other hand ethicists find answers to
questions whether the chosen path is right or not, what is
its impact on society and environment, how it affects
corporate image and reputation etc.

11. ETHICAL MANAGEMENT vs. STRATEGIC MANAGEMENT
 Strategic management is a winning strategy, and
ethical management is healthy winning strategy.

12. NEED AND IMPORTANCE FOR ETHICAL INCORPORATION IN
STRATEGIC MANAGEMENT PROCESS AND DECISION MAKING
 Ethical practices are followed by ethical practices. As
we say good follows well. Good ethics is good business.
The modern business organization thinks in framing
and implementing new strategies to win. But in the
process of winning the strategists may forget the
ethical issues. After knowing the need and importance
of ethical management, there is the serious need to
incorporate ethics in strategic management process
and decision making.

13. Ethical Strategic Management Process: ESMP
• Planning • Implementing
Straregic Ethical
Ethical Strategic
• Planning • Implementing

14. Ethical Strategic Management Decision Making:
(ESMDM)
Decision
Ethical Strategic
making

15. CONCLUSION:
Long term
success
ESMP ESMDM

16. Ethical management will be a tool for corporate success.
And ethical management will be ever chanting mantra
for healthy corporate success
 No Management?- No Organization.
 No Strategic management?-No Management success .
 No Ethical management?- No Long term success and
survival.
Therefore there is a need to incorporate ethics
and strategy with management to enhance the business
life cycle. It’s an integrative approach for long term
success of business.