This document provides an overview of business ethics. It defines business ethics as written and unwritten codes that govern decisions and actions within a company. It discusses the nature, types, factors, need, and scope of business ethics. It also covers corporate social responsibility, crisis management, and issues related to the management of ethics. The key aspects covered include defining ethics, distinguishing between ethical theories, outlining principles and characteristics of business ethics, and examining the relationship between ethics and corporate governance, social responsibility, and crisis management.
Legality is only a first step
Questions to ask: When faced with a potentially unethical action.
Management’s role
Compliance/Integrity based codes
Corporate social responsibility
A definition and stakeholders
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”.
Legality is only a first step
Questions to ask: When faced with a potentially unethical action.
Management’s role
Compliance/Integrity based codes
Corporate social responsibility
A definition and stakeholders
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”.
Contents
Introduction
Meaning and definitions of business ethics
Sources of business ethics
Characteristics of business ethics
Importance
Principles of business ethics
Introduction
Business is a part of society and its functions in the society.
It is the application of ethics to business.
It is the study of good and evil, right or wrong and just and unjust actions of businessmen.
Every business should be guided by ethics.
Ethics helps to survive and succeed their ventures.
Meaning and definition
It refers to the “moral principles which are considered right by the society.
It is the study of morality.
These are the moral principles and rules of conduct which govern and guide the activities of business.
According to David Fritzsche, “it is the process of evaluating decisions, either pre or post, with respect to the moral standards of society’s culture”.
The institute of global ethics defines, “the term ethics as obedience to the unforceable”.
Sources of business ethics
Religion
Culture experience
Legal system
Characteristics/features of business ethics
Meaning of Human Resources
Human resources can be understood in terms of employing people, developing their resources,utilizing,maintaining and compensating,their services and in tune with the job and organizational requirements with the view to contribute to the goals of the organization goal ,individuals goals.
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
Ethical Principles for Business. Whether you work for a small business or a major corporation, ethical principles matters. The most recent lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior.
While businesses have to meet economic expectations, they also have ethical responsibilities. Everyone, from the bottom to the top of the organizational chart, must take care to meet these responsibilities.
Life is about choices. We deal with choices in our personal lives everyday. Most of us are guided by such questions as, “Is this the correct thing to do? Is this the right decision to make?” We are guided by our own sense of morality, i.e. the difference between right and wrong.
Ethics, ethical behaviour, and the culture of ethics starts with the leadership of an organization. Associates in an organization emulate the behaviour of the leaders of the organization. So, if the leaders behave unethically, then, it stands to reason that subordinates will, also.
This ppt is made to study the marketing ethics. This ppt will tell us about the various wrong practices in market and what should be sone to stop them. Who to complain and what to do.
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.
Contents
Introduction
Meaning and definitions of business ethics
Sources of business ethics
Characteristics of business ethics
Importance
Principles of business ethics
Introduction
Business is a part of society and its functions in the society.
It is the application of ethics to business.
It is the study of good and evil, right or wrong and just and unjust actions of businessmen.
Every business should be guided by ethics.
Ethics helps to survive and succeed their ventures.
Meaning and definition
It refers to the “moral principles which are considered right by the society.
It is the study of morality.
These are the moral principles and rules of conduct which govern and guide the activities of business.
According to David Fritzsche, “it is the process of evaluating decisions, either pre or post, with respect to the moral standards of society’s culture”.
The institute of global ethics defines, “the term ethics as obedience to the unforceable”.
Sources of business ethics
Religion
Culture experience
Legal system
Characteristics/features of business ethics
Meaning of Human Resources
Human resources can be understood in terms of employing people, developing their resources,utilizing,maintaining and compensating,their services and in tune with the job and organizational requirements with the view to contribute to the goals of the organization goal ,individuals goals.
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
Ethical Principles for Business. Whether you work for a small business or a major corporation, ethical principles matters. The most recent lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior.
While businesses have to meet economic expectations, they also have ethical responsibilities. Everyone, from the bottom to the top of the organizational chart, must take care to meet these responsibilities.
Life is about choices. We deal with choices in our personal lives everyday. Most of us are guided by such questions as, “Is this the correct thing to do? Is this the right decision to make?” We are guided by our own sense of morality, i.e. the difference between right and wrong.
Ethics, ethical behaviour, and the culture of ethics starts with the leadership of an organization. Associates in an organization emulate the behaviour of the leaders of the organization. So, if the leaders behave unethically, then, it stands to reason that subordinates will, also.
This ppt is made to study the marketing ethics. This ppt will tell us about the various wrong practices in market and what should be sone to stop them. Who to complain and what to do.
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.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
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Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
3. • Ethics
• Latin word “ethicus” and Greek word “ethicos”
which means character or manner.
• It is a system of moral principles, rules and conduct
which governs the ability to distinguish between right
and wrong and act accordingly.
• Ethics is defined as a moral philosophy or code of
morals practiced by a person or group of people.
4. Nature of ethics
• Ethics is the study of human conduct
• Ethics is a science
• Ethics is not an art.
• Ethics is a branch of philosophy and moral
philosophy
• Ethics is derived from religions, philosophies
and culture
5. Business Ethics
• Business ethics can be defined as written and
unwritten codes of principles and values that govern
decisions and actions within a company.
• Definition of business ethics
• According to ICAI-The principles and standards that
determine acceptable conduct in business
organization.
• It is an application of general ethical rules to business
behaviour.
• Ethics, Moral and Law.
6. Types of Ethics
• Transactional Ethics- The practice of ethics in
all business transactions is called as
transactional ethics. Principles of Equality,
honesty and reciprocity applies.
• Participatory Ethics- Integral part of business
ethics, guided by common interest. Principles of
decency and emancipation.
• Recognition Ethics- the ability to understand
the problems of others. Eg The experienced is
helping the new entrant.
7. • Applied ethics
• It refers to the practical application of
moral values and principles with respect to
real work action in areas of private, public
and professional life.
• Normative ethics
• It is a branch of ethics which is concerned
with what is morally right and wrong. It
includes formulation of moral values
8. • Meta-ethics : It refers to the nature of
ethical terms and concepts and to the
attempt to understand the underlying
assumptions behind moral theories
9. Characteristics or Features of
business ethics
• Code of conduct
• Based on moral and social values
• Gives protection to social groups
• Provides basic framework
• Voluntary- self discipline
• Requires education and guidance
• Relative Term-changes from business to
business
• Not limited to oneself
10. Factors Influencing Business
Ethics
1. Leadership-Where there are good leaders there will be good ethical
practices in business. Eg. JRD Tata, Dhirubhai Ambani, N.R. Narayana
Murthy.
2. Individual Characteristics- Attitude, Lifestyle etc
3. Environment- sustainable development
4. Corporate Culture- Set of shared values, beliefs, goals, norms that
prevail within an organization.
5. Strategy and performance- What do we stand for? What is our
purpose? What values do we have?
6. Corporate governance- It is a set of systems and processes that a
company follows to ensure that it is in the best interest of the stake holders.
7. The extent of responsibility of business- Product quality,
equality in dealing with stakeholders.
11. Need/Importance/Advantages/Arguments
for Business Ethics
• Goodwill
• Profitability
• Stop business malpractices
• Improve customers' confidence
• Survival of business
• Safeguarding consumers' rights
• Protecting employees and shareholders
• Consumer satisfaction
• Smooth functioning
• Healthy competition
12. Disadvantages of business ethics/
Arguments against business ethics
• Business ethics reduce a company's freedom
to maximize its profit
• Customer to bear costs
• People, Planet, Profit
13. Scope/Purpose of Business Ethics
• Ethics in Compliance
• Ethics in Finance
• Ethics in Marketing
• Ethics in Human Resources
• Ethics of Production
• Ethics of Intellectual property, knowledge
and skills
• Ethics in Technology
14. Rules or Principles of Business Ethics
• Avoid exploitation of consumers
• Encourage healthy competition
• Ensure accuracy
• Pay taxes regularly
• Get accounts audited
• Fair treatment to employees
• Keep investors informed
• No bribe and corruption
• Discourage secret agreement
• Fullfill customers expectations
• Respect consumers rights
• Service motive
• Optimum utilisation of resources
15. Individual Principles that form
the basis of business ethics
• Honesty
• Integrity
• Loyalty
• Fair
• Caring
• Keeping Your Promises
• Respect
• Obeying Law
• Excellence
• Accountable
16. Corporate Social Responsibility
• It is responsibility of the business towards the
society.
• CSR can be explained as
Corporate – means organized business,
Social – means everything dealing
with people,
Responsibility – means the accountability between the
two i e Corporate & Society.
Corporate Social Responsibility (CSR) is a
mechanism by which companies hold themselves to a
set of legal, ethical, social and ecological standards.
17. Core elements of CSR Policy
• Care for all stakeholders
• Ethical functioning
• Respect for Workers rights and welfare
• Respect for human rights
• Respect for environment
• Activities for social and inclusive
development
18. So why CSR?
• Satisfied employees.
• Satisfied customers
• Positive PR
• Costs reductions
• More business opportunities
• Long term future for your business
19. Types of CSR
• Environment-Focused Corporate Social
Responsibility (CSR)
• Community-Based Corporate Social
Responsibility (CSR)
• Human Resource (HR)-Based Corporate Social
Responsibility (CSR)
• Charity Based Corporate Social Responsibility
(CSR)
20. Advantages and disadvantage of CSR
• Improvement in the image of the Corporation
• Increased Attraction and Retention of Employees
• Regulatory Authorities become less hostile
• Attracts more Capital Inflow from Various Sources
• Generation of Clean and Renewable Energy from Environmental CSR
• Positive Publicity
• Reduced Operating costs
• Increased sales and customer loyality
• Disadvantage
• Company reputation takes a hit
• Shift from the Profit-Making Objective
• Customer Conviction
21. Issues of management
• Corporate Social Responsibility (CSR)
• Business ethics
• Corporate Governance
• Quality of Work life of employees.
• Workforce Treatment and Workforce Discrimination
• Transparency
• Economic issues
• Competitive issues
• Legal and regulatory issues, and
• Philanthropic issues
22. Crisis Management
• What is Crisis?
• Crisis is defined as any emergency situation
which disturbs the employees as well as leads to
instability in the organization. Crisis affects an
individual, group, organization or society on the
whole.
• Characteristics of Crisis
Crisis is a sequence of sudden disturbing events
harming the organization.
Crisis generally arises on a short notice.
Crisis triggers a feeling of fear and threat amongst the
individuals.
23. Why Crisis?
• Technological failure
• Indifference opinions of employees
• Fail to pay creditors
• Illegal behaviour
• Violence, theft and terrorism at the place
24. Crisis Management
• The process of handling unexpected and sudden
changes in organization culture is called as crisis
management.
• Need for Crisis Management
• Prepares the individuals to face unexpected developments
• Employees adjust well
• can understand and analyze the causes of crisis
• helps the managers to devise strategies
Crisis Management Team?
• A Crisis Management Team is formed to protect an organization
against the adverse effects of crisis. Crisis Management team
prepares an organization for inevitable threats.
25. Crisis Management Process
• Step 1: Establish a planning team
• Step 2: Analyze capabilities and hazards
• Step 3: Develop a plan
• Step 4: Implement the plan
26. Types of Crisis
• Natural crisis
• Technological crisis
• Confrontation Crisis- employees fight
• Crisis of Malevolence- criminal acts of employees
• Crisis of Organizational Misdeeds
• Crisis Due to Rumours
• Crisis of Management Misconduct
• Bankruptcy
