eithics by virendra,sudhir and darpan

8/2/2019 Eithics by Virendra,Sudhir and Darpan

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RELATION BETWEEN ETHICS AND

CORPORATE EXCELLENCE

Virendra Kharbale 26Sudhir Tardekar 19Darpan Gawade 24


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WHAT IS ETHICS/BUSINESS ETHICS

Derived from Latin word ethicusmeaningcharacter

Business ethics refers to application of

ethical judgement to business activities

A business that makes nothing but money is

a poor business- Henry Ford


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WHAT IS CORPORATE EXCELLENCE

Corporate Excellence is defined as the abilityof the company to outsmart Competitorsconsistently over a long period of time.


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POINTS TO BE REMEMBERED WHILE PREPARING

ETHICAL BUSINESS BEHAVIOR MODEL

(a) EXCELLENCE THROUGHMANUFACTURING :-

I) Products of high quality

II) Products with enhanced featuresIII) Products at the right price.


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ACHIEVING EXCELLENCE BY BEING ETHICAL

b) EXCELLENCE THROUGH MARKETINGMIX :-

In the ever changing, highly competitive

business field new directions have to beshown in order to strive & ultimately toachieve corporate excellence.


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(c) EXCELLENCE THROUGH HRM:- Among all the organizational resources, the

human resources are the most vital and require

constant refinement. Organizational objectivesand strategies must match with HR strategies.Since the change is the fundamental element inachieving corporate excellence, changemanagement is to be backed by human resources

of the firm. The change can be facilitated bymeans of HR activity- Training. Hence the trainingprogrammes in the new age businessorganizations should focus on - Team work,leadership, initiation, interpersonal communication.


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From Finance point of view

Transparency with customers and clients

No improper use of funds

Proper audits and maintenance of books ofaccounts


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Other factors include

BUSINESS PROCESS REENGINERING

Restructure and Redesign

GROWTH SUSTAINABLE DEVELOPMENT

Be consistent and not rapid

CORE COMPETENCE

Use your unique strength to get competitiveadvantage


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RESOURCE UTILIZATION

Human, physical and financial resources, new

technologies

E-COMMERCE

facilitates the continuum relation between thecompany and the customer


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CRM (CUSTOMER RELATIONSHIPMANAGEMENT)

to achieve corporate excellence the organizationsshould try to develop strong Customer RelationshipManagement.

SOCIAL CONSCIOUSNESSE.g. introducing ecologically friendly products or

services


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POWER-ETHICAL V/S UNETHICAL

Ethical- Positive Unethical-Negative

Leading Coercing

Influencing Forcing

Selling Hurting

Persuading Crushing


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EXAMPLES OF ETHICAL ACTIVITIES

Transparency with clients and customers

No insider trading

All employees should get fair treatment


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INFLUENCE OF ETHICS AND COMPLIANCE

Leading with Ethics and Compliance ensuresyour position as a key strategic advisor tosenior leadership at your company through

sessions on power and influence, changeand culture, and transformational leadership.


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PROGRAM DESIGN FACTOR ASSOCIATED WITH

ETHICAL COMPLIANCE

For a company

Goals, objectives, mission and vision of theorganisation

The product or service provided by theorganisation

Transparency and truthfulness about matter to bedisclosed

For an employee

Behavior towards colleagues

Behavior towards work

Behavior towards clients and customers


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PROGRAM DESIGN FACTOR ASSOCIATED WITH

ETHICAL COMPLIANCE

Continuously reviewed and improved

Should not be kept stagnant

Educating and follow up is necessary toavoid confusion and chaos

Establishing disciplinary mechanism toensure its compliance


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POSITIVE OUTCOME FROM ETHICAL

COMPLIANCE


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WHAT IS CODE OF CONDUCT

A Code of Conduct is a written collection ofthe rules, principles, values, and employeeexpectations, behavior, and relationships that

an organization considers significant andbelieves are fundamental to their successfuloperation.


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WHAT IS CODE OF CONDUCT

A Code of Conduct enumerates thosestandards and values that make anorganization remarkable and that enable it to

stand out from similar organizations.

The Code of Conduct serves as a frameworkfor ethical decision making within an

organization.


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REASONS FOR ADOPTING CODE OF CONDUCT

A code is an open disclosure of the way anorganization operates. It provides visibleguidelines for behavior.

A code is also a tool to encouragediscussions of ethics and to improve howemployees/members deal with the ethical

dilemmas, prejudices and gray areas that areencountered in everyday work


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REASONS FOR ADOPTING CODE OF CONDUCT

A code is meant to complement relevantstandards, policies and rules, not to substitutefor them.

Codes of conduct offer an invaluable opportunityfor responsible organizations to create apositive public identity for themselves which canlead to a more supportive political and

regulatory environment and an increased levelof public confidence and trust among importantconstituencies and stakeholders.


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HOW TO DEVELOP CODE OF CONDUCT

A code should promote culture that:

encourages employees to internalize theprinciple of integrity and practice it, and

encourages employees to do the right thing byallowing them to make

appropriate decisions.


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SUGGESTIONS BASED ON TODAY'S BEST

PRACTICES ON HOW TO WRITE A CODE

Write the code in a way that all employees canunderstand.

Circulate the code internally to all employees on a

regular basis (annually, at a minimum). Requireeveryone to acknowledge that he or she has read it,understands his or her responsibility to comply with it,and will report through appropriate channels anyobserved violations..

Circulate the code externally to institutional investorsand other constituents.


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SUGGESTIONS BASED ON TODAY'S BEST

PRACTICES ON HOW TO WRITE A CODE

Publish the code in the company's annual reportand on its Web site.

Conduct periodic employee training on the codeand "audits" of the staff's understanding of it.

Require periodic compliance self-assessmentsof selected employees using appropriate codeprovisions.


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WHAT IT INCLUDES

A statement by the CEO that the organization iscommitted to conducting business with integrity,in accordance with the highest ethical standardsand in compliance with all applicable laws, rulesand regulations. This establishes the required"tone from the top.

Practical examples of situations an individualmight encounter, and guidance to help clarifyhow the code should be applied in each case.


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WHAT IT INCLUDES

A discussion of the roles the organization'spolicies, structure, risk management andinternal controls play in ensuring compliance

with the company's ethical standards, includingthe role of personal accountability for adheringto the code.

Recognition of the company's responsibilities toshareholders, employees, customers and otherstakeholders.


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WHAT IT INCLUDES

Prohibitions on and/or required disclosuresrelated to conflicts of interest and restrictionson the use of confidential/proprietary

information.Corporate guidelines, including policies on

expenses, asset usage, vacations, insider

trading, etc.


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EMOTIONAL HIJACKING

What is Emotional Hijacking

Emotional hijackingis a state when anindividual's cognitions are overpowered by

his/her emotions. It is usually referred to in thecontext of aggression or fearfulness.


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EMOTIONAL HIJACKING

What are the possible outcomes ofEmotional Hijacking

Anger and frustration

negativity within the atmosphere

severe mood swing

Effect persons mental as well physical health


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THANK YOU

eithics by virendra,sudhir and darpan

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