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    Submitted To Submitted by Prof. Sunil Verma Sachin Patel M.B.A (MM) II"A"

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    Sachin Patel
    This document discusses business ethics and provides definitions and approaches to studying business ethics. It defines business ethics as adhering to legal and professional standards, keeping promises, and following principles of fairness and honesty. It also distinguishes ethics from laws, noting that ethics are about what is morally right while laws define what is lawful. The document outlines three approaches to studying business ethics - descriptive, prescriptive, and conceptual. It also discusses moral standards and principles as yardsticks for determining right and wrong in business decisions. Finally, it introduces integrative social contracts theory as a way to evaluate ethical dimensions of decisions while allowing for cultural diversity.

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    Submitted To Submitted by Prof. Sunil Verma Sachin Patel M.B.A (MM) II"A"

    Uploaded by

    Sachin Patel
    147 views12 pages
    This document discusses business ethics and provides definitions and approaches to studying business ethics. It defines business ethics as adhering to legal and professional standards, keeping promises, and following principles of fairness and honesty. It also distinguishes ethics from laws, noting that ethics are about what is morally right while laws define what is lawful. The document outlines three approaches to studying business ethics - descriptive, prescriptive, and conceptual. It also discusses moral standards and principles as yardsticks for determining right and wrong in business decisions. Finally, it introduces integrative social contracts theory as a way to evaluate ethical dimensions of decisions while allowing for cultural diversity.

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    business ethics

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    Business Ethics

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    This document discusses business ethics and provides definitions and approaches to studying business ethics. It defines business ethics as adhering to legal and professional standards, keeping promises, and following principles of fairness and honesty. It also distinguishes ethics from laws, noting that ethics are about what is morally right while laws define what is lawful. The document outlines three approaches to studying business ethics - descriptive, prescriptive, and conceptual. It also discusses moral standards and principles as yardsticks for determining right and wrong in business decisions. Finally, it introduces integrative social contracts theory as a way to evaluate ethical dimensions of decisions while allowing for cultural diversity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    147 views12 pages

    Submitted To Submitted by Prof. Sunil Verma Sachin Patel M.B.A (MM) II"A"

    Uploaded by

    Sachin Patel
    This document discusses business ethics and provides definitions and approaches to studying business ethics. It defines business ethics as adhering to legal and professional standards, keeping promises, and following principles of fairness and honesty. It also distinguishes ethics from laws, noting that ethics are about what is morally right while laws define what is lawful. The document outlines three approaches to studying business ethics - descriptive, prescriptive, and conceptual. It also discusses moral standards and principles as yardsticks for determining right and wrong in business decisions. Finally, it introduces integrative social contracts theory as a way to evaluate ethical dimensions of decisions while allowing for cultural diversity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 12

    Submitted to Prof.

    Sunil verma

    Submitted by Sachin Patel M.B.A (MM)IIA

    The concept comes from the Greek word ethos that means both an individuals character and a communitys culture. Business ethics involves adhering to legal, regulatory, professional and company standards, keeping promises and commitments and abiding by general principles like fairness, truth, honesty and respect.
    2

    The maxims such as business is business or principles like caveat emptor (let the buyer beware) fall for short of public expectation. Businesses are under pressure to define their standards and codes of practice.

    Ethics are moral guidelines which govern good behaviour So behaving ethically is doing what is morally right. Behaving ethically in business is widely regarded as good business practice.

    An important distinction to remember is that behaving ethically is not quite the same thing as behaving lawfully: Ethics are about what is right and what is wrong Law is about what is lawful and what is unlawful

    Ethics constitutes desirable conduct in a particular set of social circumstances. Business ethics are that functions which leads to choosing right decision at right time which leads for the welfare of not only business owners but also society, consumers, stakeholders and its employees.

    There are three approaches to studying business ethics Descriptive- describing practices, moral codes and beliefs

    Prescriptive- an attempt to formulate and defend basic moral norms


    Conceptual study- analyzing central ethical terms such as right, good, an attempt to distinguish what is moral and what is immoral.
    7

    Moral standards are the yardsticks of business ethics. They provide the basis for deciding whether an act is right or wrong.

    Moral standards consist of specific moral norms and general moral principles.

    Business ethics is the process of evaluating decisions, either pre or post, with respect to the moral standards of societys culture. Moral norms prohibit certain types of behaviour such as lying, stealing and killing. Moral principles provide more general guidelines for behaviour and are applicable to decision situations.
    9

    Integrative social contracts theory is used for

    evaluating the ethical dimension of decisions.


    It is a normative theory of business ethics and it allows for moral diversity among various cultures while maintaining certain universal norms.

    10

    Thank You

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