business ethics-paro 120 1

7/31/2019 Business Ethics-paro 120 1

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BUSINESS ETHICS

Presentation by

Paromita Mukherjee


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WHAT IS ETHICSEthics may be referred to some standardized form of

conduct or behavior of individuals understood andaccepted in a particular field of activity

The work ETHICS has its origin in Greek word Ethics

means character, norms, morals and ideals prevailing ina group and society.

Ethics is a mass of moral principles or set of values

about what conduct ought to be. They give an idea whatis right or wrong, true of false, fair or unfair, just or

unjust, proper or improper, e.g. Honesty, obedience,

equality, fairness, etc and respect and then doing the

right thing


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WHEN AND WHERE DO WE

DEVELOP ETHICAL VALUES?

According to those who study the history

and philosophy of ethics, infants would not

survive without a nurturer who teaches

them about right and wrong behavior. In

human society, a series of nurturer and

teachers influence the ethical views ofeach individual.


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BUSINESS ETHICS

Carter McNamara has defined: Business ethics is

generally coming to know what is right and

wrong in the workplace and doing what is right-

this is in regard to efforts of products/ servicesand in relationships with stakeholders.

Attention to ethics in the workplace sensitizes

managers and staff to how they should act so

that they retain a strong moral compass.


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BUSINESS ETHICS

Interest in business ethics has been increasingsince 1960s

Interest has been spurred by headlines ofbusiness scandals

A 1982 study reported that of the Fortune 500companies,115 companies (23%) had beenconvicted of at least one major crime or paidpenalties of serious misbehavior

Is the importance of business ethics declining inbusiness and government practices?

Greater focus on ethics, morals and values.


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Global Ethical Issues

Wages and hours

Child labour

Discrimination

Legal and ethical business practices

Product safety and quality

Environment


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Even if we know we can

get away with doing somethingwrong, even if no one ever

discovers what we are up to,

our vice harms us more than it

hurts any of our victims.

-SOCRATES


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FACTORS THAT AFFECT ETHICALBEHAVIOUR

MODERATORS

INDIVIDUALCHRACTERECTICS

ORGNIZATIONALCULTURE

ISSUEINTENSITY

STRUCTURALCHARECTERISTICSOF ORGANIZATION

STAGES OFMORAL

DEVELOPMENT

ETHICALDILEMA

ETHICAL /UNETHICALBEHAVIOUR


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What causes unethicalbehaviour

Stress

Confusion

Pressure to perform at expected levels

Competition within the industry

No knowledge


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Some of the Unethical Businesspractices are :

Cutting corners on quality

Covering up incidents

Abusing or lying Lying customers

Stealing from the company

Taking credits from co-workers ideas/work Taking or giving bribe


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Government corruption

Financial scandals

Product safety

discrimination

Sexual harassment

Firing an employee for whistle blowing

Divulging confidential information

Unethical business practices(contd)


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Whats in it for me to be

ethical?

-A more accurate perception of the world around you, follow yourconscience.

-Have the courage to do what is right and do try new things evenwhen it is hard or costly.

-Dont loose heart if you fail or dont get what you want

-A stronger personality, and greater likelihood of being happy inlife


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CONSIDER CONSEQUENCES

IS IT ETHICAL ?

IS IT LEGAL ?

IS IT OK ?

IS IT RIGHT ?

Is it fair ?

Does it hurt anyone ?

Have I been honestwith those affected?

Can my consciencelive with thisdecision ?


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CONCLUSION

In the last few years we have seen a drastic

change in society as well as in all facets of the

business world. The consumer, today, is more

aware of his rights and his requirements. Hedemands the best quality at the regular prices.

Companies today need to incorporate a strong

or responsible culture to face the instance

reaction of the consumer.Todays market calls for stringent business ethics

to be imposed in the corporate world.


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BIBLIOGRAPHY

Ethics in Business- ROBERT.B. MADDUX

DOROTHY MADDUX

Business Ethics and Managerial ValuesS.K. BHATIA

http://www.mapnp.org/library/ethics/

http://www.uwm.edu/People/andrewk/
http://www.mapnp.org/library/ethics/http://www.uwm.edu/People/andrewk/http://www.uwm.edu/People/andrewk/http://www.mapnp.org/library/ethics/

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