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Definition The principle of conduct governing an individual or group The study of morality Ethics is a kind of investigation- includes both activity of investigation as well as results of that investigation- morality is subject matter that ethics investigates Morality is standards that an individual or a group has about what is right and wrong, or good and evil Non moral standards-Etiquette, legal, language, aesthetics, athletics.
Ethics
Ethics is a Greek word, it means Character or manners. Ethics is subjective while morality is objective Ethics is about sense of belongingness to society of business. Formed with a limited vision for economic generation but should resolve conflict with society by servicing the community. The discipline that examines ones moral standards or the moral standards of a society
Genesis of Ethics :
Business Ethics
The value of what should be done and what should not be done from the business point of view
Introduction
Inventory of Ethical Issues in Business Employee-Employer Relations Employer-Employee Relations Company-Customer Relations Company-Shareholder Relations Company-Community/Public Interest
7
Attendance
Loyalty
Safety
Quality
Security
Profitability
Productivity
Ethical Problem
Ethical Problem 1950s Time Early 2000s
10
Profession
Friends
Employer
The Law
Religious Beliefs
Society at Large
13
Ethics
Law
14
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3D of Ethics. :
UNITARIAN VIEW OF ETHICS: Business is a part of moral structure and moral ethics. SEPARATISTS VIEWS OF ETHICS: Morality and ethics has no role in business. Society and law deals with ethics and morality. INTEGRATED VIEW OF ETHICS: Ethical behaviour and business should be integrated in a new era called Business Ethics.
Government
Morality and Ethics
Business
Market system
Business Ethics
Society
Ethical Consciousness
Stage 6 Corporate citizenship
Stage 5 Stakeholder concept Stage 4 Profit maximization in the long run Stage 3 Profit maximization in the short term
Stage 2 Anything for profit Stage 1 Jungle Law
Ethical standards vary bet. Cultures and countries More evident from amongst entrepreneurs Corporations Long term profitability and attractiveness of org. is key to competitive strategy Both attractiveness and competitive strategy can be shaped i.e. challenging and exciting
Two Domains
Overt approach External theft, bribery etc. Covert approach Internal merger and acquisitions, insider trading
Ethics Dilemma pricing, advertising, promotion, Working conditions, customer service Work force reduction, environment Community relations, supplier relations Importance of trust (empathy), maturity in relationship
Ethics is about field or domain of enquiry while morality is the object of enquiry. Ethics or behavior accepted with in a group is recorded as credos espoused value of group/Orgn. When espoused value become practiced values, then the group is said to be ethical Organisation Ethical theories can be classified into three subject areas: Meta ethics Normative ethics Applied ethics
Meta Ethics
:
Deals with entire gamut of ethical issues:moral values exists independent of humans psychological issues that deals with psychological basis of the moral actions and linguistic issues dealing with moral terms Reflect on reactions on photo at UK deities and others. Belief system, tradition- Kentucky launching chicken product at Bangalore.
Applied Ethics
Deals with ethics dealing with Euthanasia, TERRI SCHIAVO FLORIDA women!!- female feticide and infanticide, displacement of tribal people due to hydel power projects, cloning, testing drugs on animals
Normative theories-Business ethics. That which guides and controls human conduct. Sets out certain standards that determine what is right and what is wrong. Golden principle behind this WE SHOULD TREAT OTHERS THE SAME WAY THAT WE WANT OTHERS TO TREAT US There are Three leading theories of Normative ethics STOCK HOLDERS THEORY STAKE HOLDERS THEORY SOCIAL CONTRACT THEORY
Normative theories
Bank of India, focuses on below poverty line, adopted 101 villages .makes use of four M with NGO for various services. New world is outsourcing: Anything done most efficiently cost effectively can be done by someone else.. NGO have to develop new tie up with corporate to align themselves to meet the changing needs of society.. Corporate have fund of Rs. 1 lakh crores for CSR in India alone. Not to speak of Transnational corporation Networking of NGO and development of search engines for various relevant social projects is the need of the hour. .
Bank of India :
4 M- CSR Corporate :
Many of the philanthropist activities are not monitored or measured. Unlike Corporate CSR. Four M of corporate social responsibility taken up By corporate has inbuilt 4 M Meaningful, projects Managing the projects Monitor projects Measure projects Bank of India does check NGOs how they operate Effectively and efficiency. Nearly Rs. 1 lakh crores of fund Available with corporate for CSR activities.
Organizational/Business Ethics
Ethics! Important to All Stakeholders
In Conclusion, High Ethics Companies
4. are confident with the ethical activities of individuals and work groups;
5. value ethical purpose; and
Organizational/Business Ethics
The Integrity Based Strategy
CHARACTERISTICS OF A COMPLIANCE STRATEGY CHARACTERISTICS OF A INTEGRITY STRATEGY
Self Governance Enable Responsible Conduct Management Driven Leadership; Accountability; Systems Decision Processes
Social Beings Guided by Values Autonomous Beings Guided and Ideals Material Self Interest The need to be ethical is viewed as a positive aspect of organizational life, rather than one more unwelcomed restraint imposed by the authoritarian culture. Unknown