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    MODULE - 5 Business Ethics

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    Deepika Raj
    1. Business ethics are the principles that govern how business people conduct business functions and make decisions. 2. Business ethics is considered both a science and an art that continuously evaluates and updates moral standards and rules. 3. There are differing views on the relationship between business and ethics, ranging from a separatist view where ethics has no influence on business, to an integration view where business ethics integrates ethical behavior and social obligations into business activities and decision making.

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    MODULE - 5 Business Ethics

    Uploaded by

    Deepika Raj
    824 views24 pages
    1. Business ethics are the principles that govern how business people conduct business functions and make decisions. 2. Business ethics is considered both a science and an art that continuously evaluates and updates moral standards and rules. 3. There are differing views on the relationship between business and ethics, ranging from a separatist view where ethics has no influence on business, to an integration view where business ethics integrates ethical behavior and social obligations into business activities and decision making.

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    1. Business ethics are the principles that govern how business people conduct business functions and make decisions. 2. Business ethics is considered both a science and an art that continuously evaluates and updates moral standards and rules. 3. There are differing views on the relationship between business and ethics, ranging from a separatist view where ethics has no influence on business, to an integration view where business ethics integrates ethical behavior and social obligations into business activities and decision making.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    824 views24 pages

    MODULE - 5 Business Ethics

    Uploaded by

    Deepika Raj
    1. Business ethics are the principles that govern how business people conduct business functions and make decisions. 2. Business ethics is considered both a science and an art that continuously evaluates and updates moral standards and rules. 3. There are differing views on the relationship between business and ethics, ranging from a separatist view where ethics has no influence on business, to an integration view where business ethics integrates ethical behavior and social obligations into business activities and decision making.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 24

    Business

    Ethics
    MEANING
    Ethics is a set of rules that define right and wrong
    conduct.

    Business ethics can be defined as


    written and unwritten codes of
    principles and values that govern
    decisions and actions within a
    company.
    Business Ethics
    It is the application of ethical judgments to business
    activities.

    What is right or
    Wrong in Business?
    A moral standard to be applied to business policies ,
    institutions and human behavior.
    Business ethics is the ethical analysis of
    business practices.
    Relationship between business
    and ethics
    Milton Friedman and Talcott
    -> Unitarian View of Ethics
    If business want to exist , survive and flourish in the
    long run morality and ethics cannot be separated
    from the operation of the business.
    Moral
    Structure

    BUSINESS

    Moral Ethics
    The separatist view of Ethics

    Business Ethics

    society
    Adam Smith and Milton
    Business Profit maximization
    Morality and ethics has no influence in
    business.
    Milton says business should be concentrating on
    production and distribution of goods. Social
    problems will be tackled by government and
    concerned individuals
    The integration view

    Law
    Governmen
    t

    Morality
    Business
    and ethics

    Business Ethics
    Marke
    t
    syste Society
    ms
    Ethical behavior and business should be
    integrated or combined in a new area called
    Business Ethics.

    Business has all rights to make profits but at the


    same time it should discharge the social
    obligations.
    Nature of Business Ethics
    Ethical value
    Relative terms
    Interest of society
    Provide frame work
    1. Business ethics are the principles, which govern and
    guide business people to perform business functions
    and in that sense business ethics is a discipline
    2. It is considered both as a science and an art.
    3. It continuously test the rules and moral standards
    and is dynamic in nature .
    4. It is based on theological principles such as sincerity,
    human welfare, service, good behavior etc.
    5. It is based on reality and social customs prevailing in
    business environment.
    6. It studies the activities , decisions and behavior
    which are related to human beings
    7. It has universal application because business exists
    all over the world
    8. Many of the ethical principles develop the personal
    dignity
    9. Business ethics keeps harmony between different
    Scope of business ethics
    Societal Level

    Stakeholders level

    Personal Policy level

    Internal Policy level


    Need and Purpose of Business Ethics

    stop business malpractices


    Improve customers confidence
    Survival business
    protecting consumer rights
    Protecting employees, shareholders etc.
    Good relations between business and society
    Smooth functioning of business
    Healthy competition
    CREATES good image
    Consumer movement
    Consumer satisfaction
    Evolution of Business Ethics

    Philanthro
    pic
    Ethical

    Legal

    Economic
    Approaches to business ethics
    Business ethics is about three main things
    Avoid breaking the Law
    Avoid action
    Avoid actions that are bad for ones image
    To derive standard ethics
    1. Profit Motive Approach
    2. Legal Approach
    3. Moral obligations Approach
    4. Social Approach
    Sources of ethical knowledge for
    business roots of unethical behavior
    1) Religion :
    Its a belief that ethics is an expression of
    divine that reveals the nature of right and wrong
    in business and other areas.
    Religions do preach the necessity for an
    orderly social system and emphasize
    responsibility in such a way to contribute to the
    general welfare
    2)Cultural Experience:
    Civilization itself is a cumulative cultural
    experience. Changing economic ,social and
    human history moral codification.

    3) Legal system:
    Laws are rules of conduct approved by
    legislature that guide human behavior in any
    society
    Ethical decision making
    According to Jones, an ethical decision is a decision
    that is both legally and morally acceptable to the
    larger community
    Process of Ethical Decision
    Making
    Recognizing an
    issue as an ethical
    one

    Making Ethical
    Judgment

    Resolving to do
    ethical thing

    Actually acting
    ethically
    Some unethical issues
    1) Bribery
    2) Unfair discrimination
    3) Coercion
    4) Black money
    5) Tax evasion
    6) Deception/ Fraud
    7) Issues on honesty
    8) Conflicts of interest
    9) leaking confidential data
    10)Corruption
    Ethical organization
    Ethical organizations are business entities that have
    incorporated ethics and values in the blood
    stream of the organization. They have a code of
    ethics set out as the principles of organization.
    Essentials of Ethical
    Organizations
    1) Ethical Leaders
    - Moral Persons
    -Moral Managers
    2) Ethical Practices
    -Recruitment and selection
    -orientation and Training
    -Policies and Codes
    -Rewards and punishment System
    3) Ethical Climate

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