Short stories about Business Ethic(Corporate Ethics)

Definition of Corporate Ethics

Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.

David Packard, Founder Hewlett-Packard (Definition)

THE BUSINESS ETHICS PROGRAM An RBE is characterized by responsible business conduct at all four levels of its identity4 as an enterprise: 1. Compliance with the law 2. Risk management 3. Reputation enhancement 4. Value added to the community

Warren Buffets rule of thumb for ethical conduct

I want employees to ask themselves (when they are in doubt about whether a particular conduct is ethical or not) whether they are willing to have any contemplated act appear the next day on the front page of their local paper to be read by their spouses, children and friends with the reporting done by an informed and critical reporter. *Berkshire Hathaways code of ethics+

1.Ford Motors Company

An example is found in the Ford Motor Company in the early 20th century. When Henry Ford couldn't sell enough of his cars, he decided to pay his factory employees more instead of less. From an individualism standpoint, that would not have been his best business move. However, the factory laborers were now making enough money to buy the cars they made, which boosted sales and the company's profits increased considerably. The sacrifice (increasing wages) that benefited the whole (factory workers) ultimately helped the individual (Ford Motor Company).

2. Infosys Technologies Limited

Mr. Narayana Murthy and his wife Sudha set up the Infosys Foundation in 1997 which receives 1 % of all the companys after tax profits. Money is distributed according to the ratio of its employees in the four states where it has offices: Karnataka(70%), Maharashtra(15%), Orissa(5%) and Tamil Nadu(10%). Out of the allocated sum 30% go to the old people, the destitute and the handicapped, 15% for rural development, 30% for education of talented but poor children, 15% for cultural activities and 10% for healthcare both in village and cities.

3. Coca Cola India

( 4R Programme-Reduce, recycle, reuse and recharge)

Coca Cola Companys bottling plants in India , in Plachimada in south India was shut down for 20 months because of community pressure and the company has rain water harvesting as one of its core sustainability initiatives. The projects include active community involvement to remove the silt, rubble and algae to rebuild the bawaris traditional, sustainable infrastructure. The company has worked to reconstruct a dam and reclaim a water storage area that had been useless by slit in Andhra Pradesh.

4. Hindustan Unilever Limited

HUL initiatives through its Lifebuoy brand during unprecedented floods in Mumbai. Lifebuoy Chetna is an HUL initiative in rural Health and Hygiene, Launched in 2002 covered more than 17,000 villages across the country. The company termed the programme as a marketing programme with social benefits.

5. Lupin Laboratories Limited

Lupin Human Welfare and Research Foundation(LHWRF) for the Rural development, the foundation now touches more than 1919 villages in 11 districts in Rajasthan, Madhya Pradesh, Maharashtra and Uttar Pradesh. In Bharatpur district of Rajasthan alone LHWRF has put 125 schools, provided drinking water for 80 villages and helped 25,000 villagers cross the poverty line. Lupin is visible as parallel government in the area of Bharatpur.

6. ONGC
ONGC has initiated projects like PURAProviding Urban Amenities in Rural Areas. PURA Involves four activities: 1. Physical-road, transportations and power 2. Electronic-reliable telecom, internet and IT services. 3. Knowledge-good education and training institutions and 4. Economic-enable farmers to get the price for their products.

7. Reliance Industries Limited (RIL)

They have active participation in pulse polio, Revised National Tuberculosis control Programme(RNTCP), National Immunization Programme and Maternal and child Health. The company runs Reliance Kargil Scholarship Scheme instituted with the contribution from the reliance employees to support the educational needs of the children of defense personnel who sacrificed their lives or were disabled during Kargil war.

8. Corporation Bank
The Bank has setup libraries in 25 villages in the state of Karnataka, Tamil Nadu and Andhra Pradesh. On its Centenary celebration project, the bank dedicated a modern library and Numismatic Museum to the citizen of Mangalore at the cost of 2.31 crore. Corporation Bank Economic Development Foundation undertake projects like clean drinking water, healthcare, malaria eradication programme, provisions of classrooms in government schools, study room for orphans .

9. Bausch & Lomb

Bausch & Lomb has associated itself with the Delhi Traffic Police by organizing an eyescreening camp for commercial vehicle drivers. The Delhi Traffic Police personnel also underwent tests for good vision.

10. Hindustan Petroleum corporation Limited(HPCL)

Projects undertaken include: 1. Suraksha 2. Swablamban 3. Unnati 4. Nanhi Kali 5. Vikas 6. Navjyot 7. Muskan 8. Naya Netritwa

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2011 WORLDS MOST ETHICAL COMPANIES

Business Services
Accenture Dun & Bradstreet Noblis
Construction and Engineering

CRH Granite Construction Parsons Corporation

Chemicals
Ecolab JM Huber

Business Services Accenture Dun & Bradstreet Noblis

2011 WORLDS MOST ETHICAL COMPANIES

Computer Software
Adobe Systems Microsoft Salesforce.com Symantec Corporation Teradata Corporation

Energy and Utilities

Encana Statoil NextEra Energy, Inc. Northumbrian Water Vestas Wind Wisconsin Energy Corporation

2011 WORLDS MOST ETHICAL COMPANIES

Financial Services
American Express Housing Development Finance Corp NYSE Euronext The Hartford Financial Services Group

Hotels, Travel and Hospitality

Kimpton Hotels Marriott International The Rezidor Hotel Group Wyndham Worldwide

2011 WORLDS MOST ETHICAL COMPANIES

Industrial Manufacturing
Caterpillar Deere & Company Eaton Corporation Milliken & Company Schneider Electric

Specialty Retail
Best Buy Co. Hennes & Mauritz Sonae Target Ten Thousand Villages

2011 WORLDS MOST ETHICAL COMPANIES

Telecom Hardware
Avaya Inc. Cisco Systems Juniper Networks

Telecom Services
Singapore Telecom Swisscom T-Mobile USA

Real Estate
British Land plc Jones Lang LaSalle Unibail-Rodamco

Forestry, Paper and Packaging

International Paper Stora Enso Oyj SCA

http://ethisphere.com/past-wme-honorees/wme2011/

Word Spoken by famous people

 R. H. Tawney, the British historian, once wrote: ''To argue, in the manner of Machiavelli, that there is one rule for business and another for private life, is to open the door to an orgy of unscrupulousness before which the mind recoils.''

 Truett Cathy, founder of Chick-filA, argues there is no such thing as business ethics only ethics

 Set your expectations high; find men and women whose integrity and values you respect; get their agreement on a course of action; and give them your ultimate trust. - John Fellows Akers, Chairman of IBM

 I am sure that in estimating every mans value either in private or public life, a pure integrity is the quality we take first into calculation, and that learning and talents are only the second.Thomas Jefferson

 In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you.-- Warren Buffet

 Rules cannot substitute for character." Alan

Greenspan, Chairman of the U.S. Federal Reserve Board

 There are seven sins in the world: Wealth without work, Pleasure without conscience, Knowledge without character, Commerce without morality, Science without humanity, Worship without sacrifice and politics without principle. - Mahatma Gandhi (1869 - 1948)

David Packard, Founder Hewlett-Packard

Enterprise Purpose and Profit Yes, profit is a cornerstone of what we doit is a measure of our contribution and a means of selffinanced growthbut it has never been the point in and of itself. The point is, in fact, to win, and winning is judged in the eyes of the customer and by doing something you can be proud of. There is symmetry of logic in this. If we provide real satisfaction to real customerswe will be profitable.

Bodo B. Schlegelmilch and Diana G. Robertson The Influence of Country and Industry on Ethical Perceptions of Senior Executives in the U.S. and Europe

Cultural Differences
Given the country and industry differences found, from a managerial perspective, it appears to be a mistake to expect all corporate ethics policies to look alike. Careful thought should be given to tailoring the policy to the particular firm, industry, and country. Large multinational firms operating in a number of countries need to consider the general applicability of a code of ethics or ethics training that was developed in the country in which the firms headquarters is located. If ethical concerns differ by country, then imposing a set of standards developed for one country on another country may be counterproductive. Similarly, expatriates working for multinational firms need to be aware that their own perception of ethical issues may not match that of their native fellow employees.

Joseph T.Wells Protect Small Business

Fraud According to the Association of Certified Fraud Examiners (ACFE) 2002 Report to the Nation on Occupational Fraud and Abuse, the per-employee losses from fraud in the smallest businesses are 100 times the amount of their largest counterparts. PRACTICE NOTE