BUSINESS PERSPECTIVES

PRESENTATION BYANITHA K R MBA,Ist YEAR,A CIMS B-SCHOOL

TOPIC:-

BUSINESS ETHICS

Webster defines ethics as The discipline dealing with that which is good and bad with moral duty and obligations. Ethics is a set of standards, or a code, or value system, worked out from human reason and experience, by which free human actions are determined as ultimately right or wrong, good well. Mackenzie defines ethics as The study of what is right or good in human conduct or the science of the ideal involved in human life.

Relationship between Business and Ethics

Unitarian Views of Ethics:- Business is at part of moral structure and moral ethics. If business want to exist, survive and flourish in the long-run, morality and ethics cannot be separated from the operation of the business.
Moral structure

Business

Moral Ethics

Separate Views of Ethics:- Business should concentrate on production and distribution of goods and services. Social problem are to be tackled by the govt. and concerned individuals, but not the firms or business. In short, the only aim of business is to generate profits.

Business

Ethics Society

Integration Views of Ethics:- Business and morality are inter-related and are guide by external factors like govt. market system, law and society.
Government Law

Business

Mortality and Ethics

Market System

Business Ethics

Society

Levels of Business Ethics

Societal:-At this level, questions about the basic institution in a society are asked. Stakeholders:-This level is concerned with relations between a business enterprise and its stakeholders such as employees, customers, etc. Internal Policy:-At this level, relations between an organization and its employees are analyzed. Personal:-Here questions about how people should treat one another within an organization are asked.

Importance of Ethics in Business

Ethics corresponds to basic human needs:-It is a human trait that man desires to be ethical, not only in his business affairs where, being a manager, he knows his decisions may affect the lives of thousands of employees. Various create credibility with the public:-A company perceived by the public to be ethically and sociality responsive will be honored and respected Even by those who have no intimate knowledge of its actual working. Values give management credibility with employees:-Values are supposed To be a common language to bring leadership and its people together.

Various Help better decision-Making:-Ethical attitude helps the Management make better decisions. Decisions which are in the interest of the public, their employees and the companys own long term good, even Though decision-making is slower. Ethics and profit ethics and profit go together:-A company which is inspired By ethical conduct is also profitable one. Law cannot protect society, ethics can:-Where law fails, ethics can succeed. An ethical oriented management takes measures to prevent pollution and protect worker's health even before being mandated by law.

Factors Governing Business ethics

Various Forming Institution:-The values of an individual is shaped by various institution. Organizational Goals:-The objectives of an organization influences the Values of its members. A business is an economic institution and it must be profitable. Work and Career:-Work refers to the job and tasks or responsibilities associated with it. Career on the other hand, represents a series of jobs

Superiors:-Most people succumb to pressure from superior in doing things that they the may consider unethical otherwise. Peers and colleagues:-An individual in a work group tends to conform to the norms of the group. He does so either to get approval of his colleagues. He adopts the attitude, beliefs and values of the group to which he is associated. Professional codes:- (i) Big companies formulates their philosophy or creed to guide the behavior of their employees. (ii) Company policies contain a code to guide actions that have an ethical Conduct. (iii) Professional bodies have prescribed ethical codes to govern the conduct of their members.

Ethics issues in Indian business

Equity:-Equity is generally used to mean basic fairness, apart from any established legal or human right. In this group are issues related to equal wages to women employees, exploitation of child labor , and employee Compensation practices. Rights:-Rights are treatment to which a person has a just claim. The origin Of the claim may be legal, a precedent, or our notions of behavior. Modern View of rights is generally protective in nature. Employee Rights:-Employee Rights in the workplace is a subject that Highlights instances where business organisation failed to treat their employees in a ethical manner.

Employer Rights:-Employers too have rights to carry on with their business In a harmonious manner. These rights are, i) Right to take action against inefficient employees. ii) Right to take action after due process. iii) Right to safeguard confidential information. Honesty:-Honesty in corporate ethics relates to the integrity and truthfulness of an organizations actions or policies. In a harmonious manner. Issues in groups are, i) Employee and the organization relationship. ii) Security of organization records. iii) Unauthorized payments.

Corporate governance:-Corporate governance is concerned with holding the balance between economic and social goals and between individual and common goals between individual and communal goals. Corporate governance is the relationship among corporate managers, Directors and providers of equity, people ,and institution who save and Invest their capital to earn a return. Use of Corporate Power:-Business organization recognize a responsibility To contribute to social enterprise that are consistent with their commitment to the various constituencies they serve. Issues in group are, i) Workplace safety. ii) Product safety. iii) Environment issues. iv) Support to political parties.

THANKING YOU