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CETTM

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BUSINESS ETHICS
M.THIAGARAJAN AM(HR) CETTM
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Business Ethics:*Change is the only constant factor in everyday life. *The Business environment becomes extremely complex as change inflicts variety and diversity leading to deep and fundamental ways. *The changing economic, political, legal and social environment has also made the Business and Businessman to consider the ethical approach to Business.

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*The task of Business is to optimise the outcome of economic activity *It is the economic environment of Business, which is primary consideration in evaluating Business Tactics *The Purpose of Business is creation of Wealth through Ethical action and sharing the benefits equitably for integrated development of society and Individual.

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Ethics in Business Means *It is an application of ethics to the complete community *It is the Identification of important Business and Social issues *It is a way to determine responsibility in Business Dealings.
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Approaches To Business Ethics:-

1.Identifying Practical issues and assigning responsibilities 2.Analysing existing practices and framing a code of conduct 3.Raising Fundamental Philosophical Problems.
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1.Identifying Practical Issues:The Kind of ethical issues confronting Business are *Employee rights *Ethical Business conduct *Environmental protection *Child Labour in practices *Discrepancies in the wages of Women employee *Bonded Labour *Minimum Wages
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2.Analysing Existing Practices and framing code of conduct:*There are areas of conduct which require Government Regulation or self policing *This approach of ethics deals with public policy *It deals not only with identification of unethical practices but assigning responsibilities to check ethical misdeeds or mistakes in conduct

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3.Fundamental Philosophical Problems *In this approach it is necessary to ascertain ones responsibilities and ethical obligations. *The focus is on people rather than issues. The primary question is that how one should conduct himself in fulfilling the ethics of Business life. * This approach deals with the relationship of the individual and the society.

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Employee Rights:1.Job security 2.Handling of Hazardous Material in workplace 3.Equal Employment opportunity 4.Equity and comparable worth 5.Freedom of speech in workplace.

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Employer Rights:1.Right to take action against inefficient employees 2.Right to take action after due process 3.Right to safeguard confidential information 4.Right to evaluate employee performance and personal attitude 5.Right to demand efficiency and productivity 6.No work and No pay

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Honesty:*Employee and Organisation relationship *Security of organisational records *Insider trading *Helping a competitor *Questionable and illegal dealing *Inappropriate gifts *Unauthorised payments *Wrong claims in Advertising content
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*Waste or fraud in Government contracts *Financial and cash Management procedures

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Use of Corporate Power:The organisation have to acknowledge the following components of workplace *Workplace safety *Product safety *Environmental issues *Support to political parties *Social issues raised by socio-religious organisation *Business Restructuring, downsizing or closure.
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Ethics in Advertising:* Ambiguity *Concealed facts *Exaggeration *Psychological appeals

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Take Over and Mergers:Events leading to merger:*Lack of Funds to compete effectively with companies with better plant facilities, newer equipment, and a large workforce *A growing number of competitors who have consolidated their respective economic position through mergers and acquisitions *An environment of liberalisation

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*Intense technological competition, which makes it more difficult to attain economics of scale and to retain key personnel *The emergence of Multinationals with substantial resources to challenge the market share of domestic companies

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Ethical Guidelines:1.Golden Rule Model 2.Utilitarian Model

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The End

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Thank You
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