Application of VALUES & ETHICS in

Business

Organization

Individual

A Comprehensive Study
 Values & Ethics

Values( set of preferences) are said

to be the cause and Ethics effect.If
one operates in a given instance
from a Value emotion within the
outward action will tend to be
Ethical.
 ETHICS
 Oxford Advanced Learner’s Dictionary defines
the word ‘ethics’ as “moral principle that
govern or influence a person’s behavior”.
Ethics is thus a benchmark of human
behavior. The conduct of human beings is
influenced either by the emotions of life or
the actions people perform in different
situations. The coordination of action and
emotions generates ethics.
 Ethics in Organizations

Key Terms Used –

‘Ethics’,’Ethical’,’Unethical’,’Corporate
Values',' Personal values', Value
statement', 'Ethical Framework of a
company’ etc.
 Value Statement of ITC
ITC's Core Values are aimed at developing a

customer-focused, high-performance organization

which creates value for all its stakeholders:

Trusteeship
As professional managers, we are conscious that ITC
has been given to us in "trust" by all our
stakeholders. We will actualize stakeholder value and
interest on a long term sustainable basis.
Customer Focus
We are always customer focused and will deliver what
the customer needs in terms of value, quality and
satisfaction.
 (Contd) Respect For People
We are result oriented, setting high performance standards for
ourselves as individuals and teams.
We will simultaneously respect and value people and uphold
humanness and human dignity.
We acknowledge that every individual brings different
perspectives and capabilities to the team and that a strong
team is founded on a variety of perspectives.

We want individuals to dream, value differences, create and

experiment in pursuit of opportunities and achieve leadership
through teamwork.
Excellence
We do what is right, do it well and win. We will strive for
excellence in whatever we do.
Innovation
We will constantly pursue newer and better processes,
products, services and management practices.
Nation Orientation
We are aware of our responsibility to generate economic value
for the Nation. In pursuit of our goals, we will make no
compromise in complying with applicable laws and regulations
at all levels
 TATA Steel:
The Tata Group has always sought to be a
value-driven organisation. These values
continue to direct the Group's growth and
businesses. The five core Tata values
underpinning the way we do business are:

 Integrity
 Understanding
 Excellence
 Unity
 Responsibility
SAIL (Steel Authority of India):

 Tobe a respected world Class

Corporation and the leader in
Indian steel business in
quality, productivity, profitability
and customer satisfaction
Maruti Udyog:
We believe our core values drive us in every
endeavor:

 Customer obsession;
 fast,
 flexible and first mover;
 innovation & creativity;
 networking & partnership;
 openness & learning.
 ONGC:
To be a world-class Oil and Gas Company

integrated in energy business with dominant

Indian leadership and global presence.

 World Class

 Integrated in Energy Business

 Dominant Indian Leadership

 WIPRO:
The Spirit of Wipro is the core of Wipro… the
Spirit is rooted in current reality, but it also
represents what Wipro aspires to be – thus
making it future active.
The Spirit is an indivisible synthesis of all
three statements.

 Manifesting intensity to win,

 Acting with sensitivity and
 being unyielding on integrity all the
time.
Reliance Industries:
Reliance believes that any business conduct can be
ethical only when it rests on the nine core values of
 Growth is care for
good health
 Honesty,
 Growth is care for
 Integrity,
safety
 Respect,
 Growth is care for the
 Fairness, environment
 Purposefulness,  Growth is
 Trust, conservation
 Responsibility,  Growth is betting on
 Citizenship and our people
 Caring.  Growth is thinking
beyond business
 INFOSYS TECHNOLOGIES:

 To be a globally
respected corporation
that provides best-of- Values
breed business  Customer Delight:
solutions, leveraging
technology, delivered by
 Leadership by
best-in-class people. Example:
 To achieve our  Integrity and
objectives in an Transparency:
environment of fairness,
honesty, and courtesy
 Fairness:
towards our clients,  Pursuit of
employees, vendors and Excellence:
society at large
 NTPC:

 A world class Our Core Values

integrated power major,
powering India’s (BCOMIT)
growth, with increasing  Business Ethics
global presence
 Customer Focus
 Develop and provide  Organizational &
reliable power, related
products and services at professional Pride
competitive prices,
integrating multiple
 Mutual Respect and
energy sources with Trust
innovative and eco –
friendly technologies  Innovation and
and contribute to Speed
society"
 Total Quality for
Excellence
Malaysian Airlines :
Shukur(gratefulness),Amanah(trustworthiness),I
khlas (sincerity), Displin (discipline)

Canon:
 To foster good relations with
customers and communities.
 Also to maintain good relation with
nations and environment
 Bear responsibility for the impact of
their activities on society
Johnson & Johnson
 High quality and prompt service at
reasonable price with a view to
making fair profit.
 To respect individuality of employees
keeping in mind their job security and
means of fulfilling family
responsibility.
 Informal communication
 Just and ethical action
 Encourage community service
 Ford Motor Company

 Doing right thing for the

customer,people,environment and
society
 Providing superior returns to our
shareholders
 The customer is job 1
 IBM

 Respect for individual

 IBM anthem

 Devotion to customers

 Lifetime employment

 Open door program.

 NIKE :Nike follows three mission statements to pursue
the goal. Climate mission statement. Community mission
statement and Considered mission statement. Nike
salvaged its image through such measures.

 Climate mission statement :

“Climate change is no longer “What if” but “What
now?” It is real and it is impacting the
environment, the marketplace, and our supply
chain. We see greater constraints on natural
resources. More importantly, we see and agree
with the growing need to take immediate
action.”
 Community mission statement :
Unleashing potential through sport. In the last
two years, Nike invested $100 million worldwide
in community-based sports initiatives. By 2011,
we expect to invest another $315 million. These
investments will be used to give excluded youth
around the world the chance to play because as
access to sport can enhance their lives.
We’ll provide Nike product, resurface playing
fields, support community-based programs, and
help young people create their own communities.
This is all part of our Let Me Play commitment.
Considered mission statement :
We see sustainability as a source of innovation. A
way to inspire new thinking and deliver tangible
results.
Nike has recently taken up a project to start an
N.G.O.
Concepts behind those
statements

 Respect  Concern for people

 Integrity  Refinery song
 Excellence  Human values
 Social Performance  Purposefulness
 Just & Ethical action  Caring
 Activate self-  Mutual respect &
esteem trust
 Trusteeship  Openness &
learning
 Credibility
 CSR
CSR has been defined in several ways.
A good definition refers to a
company's commitment to operating
in an economically, socially and
environmentally sustainable manner,
while recognizing the interests of its
stakeholders, including investors,
customers, employees, business
partners, local communities, the
environment and society at large.
Ethics matters because it makes good business
sense to "do the right thing".

Additionally good corporate ethics results in:

 Attracting better talent

 Retaining employees
 Attracting new customers
 Retaining customers
 A Positive effect on ROI
Positive effect on
Corporate Reputation
Competitive Strategy and CSR

Research has shown that consumers give

preference to companies that adopt CSR
practices. According to the 2002 Edelmen
Strategy Of Survey of Opinion Leaders,
76% would switch to a company with
strong CSR practices, if price and quality
are equal to non-CSR competitors. In the
same survey, 75% surveyed reported they
would give a CSR company the “benefit of
the doubt” if the company were subjected
to negative publicity.
 Individual Value System &
Conflict
Ethics Through Unethicalty:
‘It is unethicalty when one entity

intentionally tries to gain at the expense

of another, or just to cause loss to
another without any gain ,while the other
entity is unaware of such intention or is
powerless to defend itself against it.’
Educating the Organization & the
Individual

Code of Conduct,
Cognitive Ethics,
Consciousness Ethics
Vivekananda,Gandhi,Gita,Peter
Drucker
 Universal Ethical Principle –For the
salvation of the Individual & the
welfare of the Society
 Think poorest of the poor
 Lok sangraha – Individual I dissolves
in Universal I
 Conflict Resolution of Arjun
 Managing Oneself