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Question Stem
Do you think there is an importance of ethics in continuing to work ? Have you observed misconduct in the work place? Does it prevails?
Ethical Problem
1950s
Time
Early 2000s
Genesis of ETHICS
Dictionary Meaning system of moral principles, rules and conduct. The origin of this word is from ETHOS which mean character. Ethics is defined as the ability to distinguish between right and wrong and to act accordingly.
Profession
Employer
The Law
Religious Beliefs
Society at Large
Educational Institutions have established Ethics code for their students, e.g. the US Air Force Academy We Will not Lie, Steal or Cheat, Nor Tolerate Among us anyone who does -which do you think is the harder part : part 1 or part 2? Why?
"Our company prides itself on its merit-based pay system. One of my employees has done a tremendous job all year, so he deserves strong recognition. However, he's already paid at the top of the salary range for his job grade and our company has too many people in the grade above him, so we can't promote him. What should I do?"
"Our company prides itself on hiring minorities. One Asian candidate fully fits the job requirements for our open position. However, we're concerned that our customers won't understand his limited command of the English language. What should I do?"
"My boss told me that one of my employees is among several others to be laid off soon, and that I'm not to tell my employee yet or he might tell the whole organization which would soon be in an uproar. Meanwhile, I heard from my employee that he plans to take a home loan for a new house. What should I do?"
"A fellow employee told me that he plans to quit the company in two months and start a new job which has been guaranteed to him. Meanwhile, my boss told me that he wasn't going to give me a new opportunity in our company because he was going to give it to my fellow employee now. What should I do?"
Business Ethics
The study and examination of moral and social responsibility in relation to business practice and decision making in business is known as Business Ethics. The term business is commonly referred to the commercial activities achieved at making profit. But gradually there is a substantial change in the way in which people viewed the business.
A business is regarded as social institution forming integral part of social systems .The business is viewed as subsystem to the social system.
EvEryonE
The creation of an ethical organizational culture resides with leaders & followers; leadership by nature demands that leaders be the front runners in establishing an ethical organizational culture
Titan is Indias premier watch company. They have a well defined policy on social responsibility. Its Corporate Governance initiatives include Childrens education Employing the disabled Womens empowerment Environment management programmes and other community initiatives.
Signatory to the Global Compact Awarded the Helen Keller award and Mother Teresa award Watch and Jewellery Divisions are certified under ISO 9001:2000 quality management system standards & the ISO 14001 environment system standard The President of Indias Award for employing the disabled. Friends of BIL Award for employing the handicapped.
SAKTHI MASALA employs about 200 disabled persons to enable them to lead an honourable living. SAKTHI DEVI CHARITABLE TRUST, the social service arm of the SAKTHI MASALA, was founded in the year 1997 to promote the cause of community development services. Since then, the Trust has been carrying out projects with concern and compassion to uplift the underprivileged especially the disabled.
BPCL provides alternate source of energy, solar energy for street lights at villages, skill enhancement on modern farming practices, distributes smokeless Chulas, training for income generation projects. Bank of India, focuses on below poverty line, adopted 101 villages .makes use of four M (Meaningful projects, Managing the projects, Monitor projects, Measure projects) with NGO for various services.
A banking fraud which could run into a whopping Rs 400 crore has been unearthed at leading multinational lender Citibank''s Gurgaon (Haryana) branch. The fraud is said to be a handiwork of Shivraj Puri who was working as a Relationship Manager for the past 7-8 years, the employee who is alleged to have sold investment products to high networth clients claiming that they would generate unusually high returns. Puri has also been charged with producing forged circulars from the Securities and Exchange Board of India (Sebi) to con people into investing in a non-existent scheme and making people believe that the scheme was only available in that particular branch.
He is also accused of claiming that these products were authorised by the bank's investment product committee. Sources said Puri allegedly sought deposits from high networth customers in lucrative schemes but transferred the funds to some fictitious accounts. Citibank has intimated the Reserve Bank of India and Sebi about the fraud. In a statement given out by the bank, "Identified suspicious transactions have been isolated and we are providing full assistance to the authorities in their investigations. This issue does not impact other accounts, transactions or customers of the bank. Subsequent to our complaint naming the involved employee and other external individuals who appear to be perpetrators in these suspicious transactions, Gurgaon police have registered an FIR."
Conclusion
Business system as a subsystem to the social system should promote ethics for improving health and wealth of the society consistently. In order to win the game, you need to plan. To plan, information is imperative . Get it through legal & ethical means. Its fact that to win consistently , you need to play by rules. In life play hard and play fair. In Life and Business, Ethical Standards must be set, Ethical Standards must be met.