Business Ethics

Meaning

Ethics is a set of rules that define right and wrong conduct . Business ethics can be defined as written and unwritten codes of principle and values that governs decisions and actions within a company. In the business world organization’s culture sets standards for determining the difference between good and bad decision making and behavior

Relationship Between

Business And EthicsBusinesses that exhibit and promote strong

corporate codes of ethics are more prosperous in the long run

Enhances a company’s reputationThe highly competitive environment in today’s

global economy puts pressures on company leaders to remain profitable

RELIGIOUS VIEWS

ON BUSINESS

ETHICS

In order to win the game, you need to plan. To plan information is imperative. Get it through legal and ethical means. In life and business, ethical standard must be set,

ETHICAL STANDARD MUST BE SET,

ETHICAL STANDARD MUST BE MET.

NEED FOR BUSINESS ETHICS

Long term growth Cost and risk reduction Limited resources Social responsibilities Stop business malpractices Survival of business Creates good image Healthy competition

ARGUMENTS FOR AND AGAINST BUSINESS ETHICS

BY

NAMEER E

ARGUMENTS FOR BUSINESS ETHICS

Leadership Employee commitment Customer satisfaction Higher profits Investor loyalty Long term implication

ARGUMENTS AGAINST BUSINESS ETHICS

Demand and supply forces Compliance of law No need for ethics separately Conflict of interest Profit is the objective of business

ETHICS AND LAWS By manoj kumar M

Ethics is a code of principles and values that govern the behavior of a person or group with respect to what is right or wrong. That principles are base culture, religious, and philosophical beliefs held by us all.

Ethics can be more clearly understood when compared with behaviors governed by laws and by free choice. Human behaviors fall into 3 categories.

Codified law

Free choice

Ethical behavior

1. Codified low in which values and standards are written into the legal system and enforceable in the court.

2. Free choice is at the opposite end pertains to behaviors about which laws has no say and for which an individual or organization enjoys complete freedom.

3. Ethical behavior domain obedience is to unenforceable norms and standards about which the individual or organization is aware.

Relationship b/w Laws and Ethics

Laws are rules and principles developed through ethics and apply in situation involving morality.

Ethics cover a wider scope when compared to law because law only regulates particular aspect of ethics.

Impact of law on business ethics

Antitrust:- This area of business law ensure that competition remains fair by prohibiting companies from merging whit one another or acquiring one another.

Bankruptcy:- A company that is having financial problems seek protection from the demands of creditors.

Business organization:- Companies have to identify that which laws govern the formation of a business.

consumer protection and product liability:- Regulation regarding product, services, and credit practices have to be determaind.

Cont.…..

Contract:- Firm have to analyze the legally binding exchanging of promises or agreement b/w parties that the law will enforce.

Employment:- Laws that regulate the hours and condition under which people work such as child labour laws, sets minimum wages, and expands the rights of disabled people are to be analyzed.

Intellectual property:- Laws which protect copyright, and patent are to be determined.

Establishing Strategy For Ethical Responsibility

Ethical consciousness:- the development of ethical consciousness is the responsibility of the entrepreneur because his or her vision created the venture.

Ethical process and structure:- it is refers to the procedures, position statement, and announced ethical goals designed to avoid ambiguity.

Institutionalization:-it is a deliberate step to incorporate the entrepreneur ethical objectives with the economics objectives of the venture.

ESTABLISHING STRATEGY FOR ETHICAL RESPONSIBILITY

BY

MIDHUN MOHAN M

Establishing a strategy for ethical responsibility is not an easy task for entrepreneurs. No single, ideal approach to-organisational ethics exists. Entrepreneurs need to analyse the ethical consciousness of their organisation, the process and structure devised to enhance ethical activity, and, finally, their own commitment to institutionalise ethical objectives within the company.

Ethical consciousness

Ethical process and structure

institutionalization

ESTABLISHING STRATEGY FOR ETHICAL RESPONSIBILITY

APPROCH TO MANAGERIAL ETHICS

BY

LAKSHMIKANTH

APPROCH TO MANAGERIAL ETHICS

Immoral management

Amoral management

Moral management

Ethics & Business Decisions

Prakash M

Ethics : According to Andrew Crane

“ business Ethics is the study of business, situations, activities, decisions, where issue of right or wrong are addressed.

Features

Code of conduct Based on moral and social values Gives protection to social groups New concept Relative terms Requires education etc….

Business decisions:

It’s a Mental process of selecting a course of action from a set of alternatives.

In other words ” The thought process of selecting a logical choice from the available options.