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Thenmozhi
ETHICS
Dr. M. Thenmozhi
Professor
Department of Management Studies
Indian Institute of Technology Madras
Chennai 600 036
E-mail: mtm@iitm.ac.in
INTRODUCTION:
Ethics in business are nothing but the do’s and don’ts by the business
users in the business. In other words it could be referred as set of principles a
business man ought to follow. ”There should be business ethics” means that the
business should be conducted according to certain self recognized moral
standards. Few unethical elements in the present day business are cheating,
stealing, lying, bribing, corrupting etc.
OBJECTIVES:
The main objective of this study is to identify the vital few concerns of
business which influence the ethical status of a business and to identify the
necessary measures.
DESCRIPTION
DEFINITION:
3. Innovations
2. To be transparent
RESPONSIBILITY TO EMPLOYEES
RESPONSIBILITY TO CONSUMERS
a) Increasing productivity.
b) Improving quality.
RESPONSIBILITY TO COMMUNITY
One important factor a business man must not neglect is his responsibility to
environment. The abundant natural resources are getting exhausted after 19th
century due to rapid industrialization.
EXAMPLES:
LAND:
The worst effected are as their cattle starve and they travel even increasing
distance for grazing due to industrialization and urbanization.
WATER:
Through people are keen in this issue by constructing dams and reservoirs the bi
products and industry waste couldn’t find a better discharge channel than this.
Hence sure measure must be take in this context to keep the water free from
pollution.
DEFORESTATION:
HABITAT:
The people who are living in forests and remote areas love their shelter
and livelihood in the vent of industrialization.
HEALTH:
The business users must be conscious about the health of the society
and behave responsibility for their health.
EXAMPLE:
Textile merchants in general clear the defective stock under the guise of
discounts.
EXAMPLE:
Management of theaters sell the tickets for higher prices during the initial
days of release of a film starred by a crazy hero and heroine.
EXAMPLE:
EXAMPLE:
6. Make accurate business records so that transperancy to the share holders can
be achieved.
8. Do not form castle agreements, even informal, to control production, prices etc
to the common detriment.
EXAMPLE:
10. Ensure payment of fair wages and fair treatment to the internal customers as
well as external customers and share holders.
CASES OBSERVED
In some cases the managers come across the situation where they have
to neglect sure ethics in order to fulfill source. In those cases the managers must
be keen about the level of distortion caused to the society by neglecting such
ethics.
EXAMPLE:
EXAMPLE:
EXAMPLE:
– Praising and rewarding those firms and business users who keep up the
ethics in business & by publishing.
• Another fact which the business user must realize is the management and
ownership must be seperated because the owners always tend for profit
maximization where as the managers case for ethics as they work for fixed
salaries.
• He/she has enormous responsibilities and shall not use his/her knowledge skill
and authority unscrupulously shall not knowingly do distribute to his/her
customers.
CONCLUSION