The document discusses business values and ethics. It defines values and explains their importance in understanding organizations and determining behavior. Some fundamental business values discussed include truth, responsibility, risk-taking, openness, giving, credibility, caring, and honesty. The document also defines ethics as relating to what is right and wrong, and discusses the importance of conducting business in an ethical manner. It outlines factors like organizational goals and professional codes that govern business ethics.

1. BUSINESS
VALUES & ETHICS
Presented by:-
I s h a nt Kata ri a ( P C 07)
R i s h i Ku m a r Si n g h ( PT 11)
R i t u J a i n ( PT 07)
R u t u p ar na J a d h av ( PT 06 )

2. VALUES
 Asweknewthe firm isdetermined byitsvalues.
 Edwerdsprangerdefine the valueas“theconstellationof standards,
or qualities, characteristics, or ideas that determine a person's
viewof the world.
 Then values provide the basic foundation for understanding a
person’spersonality perceptionandattitudes.
 Values Beliefs Perception Attitudes Behavior
interest and personality

4. IMPORTANCE OF VALUES
 Apowerful forceaffectingbehavior
 Values contain a judgmental element in that they carry an
individual'sideasasto what is right ordesirable
 Provideawayto understandorganization
 Helpto differentiation
 Determinetheretention
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5. FORMULATION OF OUR VALUE
 40%valueisgeneticallydetermined
 Balanceisgivenbythe environmental factors
Culture
Parentaldictates
Teachers
Friendsandothersituations

6. FUNDAMENTALBUSINESSVALUES
TRUTH
RESPONSIBILTY
RISK TAKING
OPENESS GIVING
CREDIBILITY
CARING
HONESTY
MENTORING

7. Strategies followed to deliver value:-
Growth & innovation
Investing in our future
Global Diversity, Citizenship & Sustainability
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8. ETHICS
 Ethicsisderivedfrom the Greekword “ethos” which
meanscustoms,habitual usage,conductandcharacter.
 Ethicsisanindividual’spersonalbeliefs regardingwhat isright
andwrongorgood orbad.
 Ethicsinvolvesadisciplinethat examines goodor badpractices
within the contextof amoralduty

9. BUSINESS ETHICS
 BusinessEthicsmeansconducting
all aspectsof businessand
dealingwithall stakeholdersin
ethicalmanner.
 Aspecializedstudyof right and
wrong appliedto businesspolicies,
institutions andbehaviors;where
moralstandards applyto social
systemsandorganizations that
produceanddistribute goodsand
services.

11. FACTORS GOVERNING BUSINESS ETHICS
Value Forming Institutions
Organizational Goals
Work and Career
Peers and Colleagues
Professional Codes

12. NATURE OF BUSINESS ETHICS
The main characteristics of business ethics are as follows:
 It is important in all types of business- large or small, manufacturing
or service.
 It is above law. It requires behavior which is socially desirable even if
not legally.
 It is dynamic term and may change over time.

13. ELEMENTS OF BUSINESS ETHICS
Main elements of business ethics are as follows:-
 VALUES : Values are the moral beliefs held by an individual
or organization and a society.
 RIGHTS : Rights are the claims of the individual or
organization.
 DUTIES : Duties are the obligation of a person or an
organization.
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14. IMPORTANCE OF BUSINESS ETHICS
 Attract customersto thefirm’s
 Products,therebyboostingsalesandprofits
 Makeemployeeswant to staywith thebusiness,reducelaborturnover
and thereforeincreaseproductivity
 Attract more employees wanting to work for the business, reduce
recruitment costs and enable the company to get the most talented
employees
 Attract investors and keep the company’s share price high, thereby
protectingthe businessfromtakeover.

15.  “Behavior that is trusting, trustworthy, and cooperative, not
opportunistic, willgivethe firm acompetitiveadvantage”.
 Sustainableglobalcompetitiveadvantage occurswhenacompanyimplementsa
value- creatingstrategywhichother companiesare unabletoimitate.
 It facilitates the deliveryof quality ofproductsin anhonest,reliable
way.
 Thisapproachcanenhancework life bymakingthe workplacemorefun and
challenging.
 It canimproverelationshipswith stakeholdersandcaninstill amore positive
mindsetthat fosterscreativity andinnovationsamongthestakeholders

16. IMPORTANCE OF VALUES IN BUSINESS
 Formationofmissionandvisionstatement
 Formationoforganizationalobjectives
 Formationofpoliciesandprocedures
 Fulfillingcustomersneeds
 Competitiveadvantage

17. IMPACTOF VALUES IN BUSINESSES
 Thevaluesareintegrated into the company'swayof doing
business(policies,procedures,compensation practices,
performanceappraisals,etc.).
 Valueshold amajorrole in dailydecision making,normsand
relationship guidelinesand how peopleinteract with each
other and customersandsuppliers

18. IMPACT ON STRATEGY

20. Theory
of
values
Intrinsic values
Instrumental
values
Objective &
Subjective
value
Logical value
Ethical value
Applied ethics
Absolute values
Universal
values
Aesthetic
values

21. INTRINSIC VALUES
 Intrinsic value has traditionally been thought to lie at the
heart of ethics.
 It is the ethical or philosophic value that an object has "in
itself" or "for its own sake", as an intrinsic property.
 e.g. Friendship, love, etc

22. INSTRUMENTAL VALUES
 Also called as EXTRINSIC VALUES.
 Instrumental value is the value of objects, both physical
objects and abstract objects, not as ends-in-themselves,
but as means of achieving something else.
 E.g. Money leads to an end outcome.
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23. OBJECTIVE & SUBJECTIVE VALUES
 Objective values are those that lie outside of the individual and are
not dependent upon her/his perception or belief.
 E.g. facing an interview.
 Subjective value is the idea that an object's value is not inherent and
is instead worth more to different people based on how much they
desire or need the object.
 E.g. T-shirt printed with Modi & Rahul Gandhi.
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24. LOGICAL & ETHICAL VALUES
 Logical and ethical values are always with reference to the right
object, at the right time, at the right place and in the right way.
 These values are a mark of intelligence.
 E.g. A day before the exam.
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25. APPLIED ETHICS
 Applied ethics refers to the practical application of moral
considerations.
 It is ethics with respect to real-world actions and their moral
considerations in the areas of private and public life, the professions,
health, technology, law, and leadership.
 E.g. A student teacher relationship.
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26. AESTHETIC VALUES
 Concerned with beauty or appreciation of beauty.
 E.g. A weed and a flower.
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27. UNIVERSAL VALUES
 A value is a universal value if it has the same value or worth for all, or
almost all, people.
 Spheres of human value encompass morality, aesthetic preference,
human traits, human endeavour, and social order.
 Trustworthiness, respect, responsibility, fairness, caring, and
citizenship — are six core universal values.
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