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BUSINESS ETHICS

Presentation by
Paromita Mukherjee

WHAT IS ETHICS
Ethics may be referred to some standardized form of conduct or
behavior of individuals understood and accepted in a particular
field of activity
The work ETHICS has its origin in Greek word Ethics means
character, norms, morals and ideals prevailing in a group and
society.
Ethics is a mass of moral principles or set of values about what
conduct ought to be. They give an idea what is right or wrong,
true of false, fair or unfair, just or unjust, proper or improper, e.g.
Honesty, obedience, equality, fairness, etc and respect and then
doing the right thing

WHEN AND WHERE DO WE


DEVELOP ETHICAL VALUES?
According to those who study the history
and philosophy of ethics, infants would not
survive without a nurturer who teaches
them about right and wrong behavior. In
human society, a series of nurturer and
teachers influence the ethical views of
each individual.

BUSINESS ETHICS
Carter McNamara has defined: Business ethics is
generally coming to know what is right and
wrong in the workplace and doing what is rightthis is in regard to efforts of products/ services
and in relationships with stakeholders.
Attention to ethics in the workplace sensitizes
managers and staff to how they should act so
that they retain a strong moral compass.

BUSINESS ETHICS
Interest in business ethics has been increasing
since 1960s
Interest has been spurred by headlines of
business scandals
A 1982 study reported that of the Fortune 500
companies,115 companies (23%) had been
convicted of at least one major crime or paid
penalties of serious misbehavior
Is the importance of business ethics declining in
business and government practices?
Greater focus on ethics, morals and values.

Global Ethical Issues


Wages and hours
Child labour
Discrimination
Legal and ethical business practices
Product safety and quality
Environment

Even if we know we can


get away with doing something
wrong, even if no one ever
discovers what we are up to,
our vice harms us more than it
hurts any of our victims.
-SOCRATES

FACTORS THAT AFFECT ETHICAL


BEHAVIOUR
ISSUE
INTENSITY

INDIVIDUAL
CHRACTERECTICS

ETHICAL
DILEMA

STAGES OF
MORAL
DEVELOPMENT

STRUCTURAL
CHARECTERISTICS
OF ORGANIZATION

MODERATORS

ETHICAL /
UNETHICAL
BEHAVIOUR

ORGNIZATIONAL
CULTURE

What causes unethical


behaviour
Stress
Confusion
Pressure to perform at expected levels
Competition within the industry
No knowledge

Some of the Unethical Business


practices are :
Cutting corners on quality
Covering up incidents
Abusing or lying
Lying customers
Stealing from the company
Taking credits from co-workers ideas/work
Taking or giving bribe

Unethical business practices


(contd)

Government corruption
Financial scandals
Product safety
discrimination
Sexual harassment
Firing an employee for whistle blowing
Divulging confidential information

Whats in it for me to be
ethical?
A more accurate perception of the world around you, follow your
conscience.

-Have the courage to do what is right and do try new things even

when it is hard or costly.

-Dont loose heart if you fail or dont get what you want
-A stronger personality, and greater likelihood of being happy in

life

CONSIDER CONSEQUENCES
IS IT ETHICAL ?
IS IT LEGAL ?
IS IT OK ?
IS IT RIGHT ?

Is it fair ?
Does it hurt anyone ?
Have I been honest with
those affected?
Can my conscience live
with this decision ?

CONCLUSION
In the last few years we have seen a drastic
change in society as well as in all facets of the
business world. The consumer, today, is more
aware of his rights and his requirements. He
demands the best quality at the regular prices.
Companies today need to incorporate a strong
or responsible culture to face the instance
reaction of the consumer.
Todays market calls for stringent business ethics
to be imposed in the corporate world.

BIBLIOGRAPHY
Ethics in Business- ROBERT.B. MADDUX
DOROTHY MADDUX

Business Ethics and Managerial Values


S.K. BHATIA

http://www.mapnp.org/library/ethics/
http://www.uwm.edu/People/andrewk/