BUSINESS ETHICS

Jamia hamdard

Presented by :
Abdul Sharique, Submitted to:
Abdul Moid,
Ajay Malik,
Mr. Md. Shahnawaz Abdin.
Amit Yadav. Submitted on: 10-02-2012.
Abhishekh Kumar.
 Topics covered :
Introduction to :
 Ethics,
 Business Ethics,
 Morals & Values,
 Concepts of Utilitarianism & Universalism,
 Theory of rights,
 Theory of Justice ,
 Virtue ethics ,
 Ethics of care ,
 Law and Ethics ,
 The Nature of Ethics in Management Business
Standards and Values,
 Value Orientation of the Firm.
 What is Ethics?

“ The values an individual uses to interpret whether any

particular action or behavior is considered right or wrong.”
 ?
sense of what is right or wrong
From where does society derive
Law
s

?
And from where lawmakers derive
what is good or bad ?
Religion?
Tradition
?
Education
?
Common
Sense ?
What is right & wrong is always

Subjective.
Is it right or wrong for using corn to produce bio-fuels when 9 million
people (5 million are children) die each year because of hunger?
Dow Chemical’s sponsorship of the London Olympics 2012 is right or wrong ?
Is this right to get work done by children ?
 Is this right to spend that much money on weapon ?
When only one percent of what the world spent every year on weapons was needed to
put every child into school by the year 2000 and yet it didn’t happen.
 What is right & wrong is
Globally non-obligatory.
 WHAT IS BUSINESS ETHICS?

Business Ethics is a specialized study of moral right and wrong.

It concentrates on moral standards as they apply particularly
to
business policies, institutions, and behavior.
 WHY TO BOTHER WITH BUSINESS
ETHICS?

We need to study business ethics to make

better decisions for ourselves, the
businesses we work for and the society we
 Moral

“It is concerned with the principles of right and

wrong behaviour and the goodness or badness of
human character.”
 Values
Business is a fair exchange of
values

“Values are the rules by which we make decisions about right

and wrong, should and shouldn't, good and bad. They also tell
us which are more or less important, which is useful when we
have to trade off meeting one value over another.”
 UTILITARIANISM
[Jeremy Bentham and John Stuart Mill]

The utilitarian approach to ethical decision making focuses on

taking the action that will result in the greatest good for the greatest
number of people.
 UNIVERSALISM
[Kant’s Theory]

The universalist approach to ethical decision making is similar to

the Golden Rule.
 What are Rights ?

A Right is an entitlement to something. Aperson has a right when

that person is entitled to act in a certain way or is entitled to
have others act in a certain way towards him.
 Theory of Rights
[Robert Nozick]

• Everyone has a set of rights; and

• It’s up to the governments to protect those rights.
 Justice

Justice is a the duty to treat all fairly distributing the

risks and benefits equally.
 Theory of Justice
[Blame John and John Rawls]

• Greatest Liberty Principle Each person has an equal

right to basic rights and liberties.
• Focus is on outcomes Are people getting what they
deserve?
• Strength Basic premise - The protection of those who
are least advantaged in society.
• Criticisms Doesn’t examine the costs of producing the
equality.
 Virtue

The quality of doing what is right and avoiding

what is wrong.
 Virtue ethics

•Virtue ethics is an approach that deemphasizes rules, consequences and

particular acts and places the focus on the kind of person who is acting.

•The issue is not primarily whether an intention is right, though that is

important; nor is it primarily whether one is following the correct rule; nor is
it primarily

•whether the consequences of action are good, though these factors are not
irrelevant.
“A man named Rahul considers whether or not to
steal a drug which he cannot afford to buy in
order to save the life of his mother.”
• Rahul predicament(difficult situation).
• The mother’s disease.
• The druggist’s refusal to lower his price.

Should Rahul steal the drug?

The reason for and against stealing are then
explored through a series of questions that vary
and extend the parameters of the dilemma in a
way design to reveal the underlying structure of
moral thought.
 Ethics of care

This is a theory about what makes actions right or wrong. It

emphasize universal standards and impartiality, ethics of care
emphasize the importance of relationships.
 Law
A law is as we know a government rule, any
written or positive rule or collection of rules
prescribed under the authority of the state or
nation, as by the people in its constitution.
 Legal ethics

Legal ethics encompasses an ethical code governing

the conduct of persons engaged in the practice of law
and persons more generally in the legal sector.
 Legal ethics

Legal ethics encompasses an ethical code governing

the conduct of persons engaged in the practice of law
and persons more generally in the legal sector.