Business Ethics and Corporate Social

Responsibility
What is:
> Ethics
> Business Ethics
> Importance of practicing Business Ethics
MORALITY can be thought of as the set of norms, rules,
standards, principles, or values that guide the adherents in
their behavior as to what is right and wrong, good and bad,
or appropriate and inappropriate behavior.
*In these sense, virtually every human has some
morality or moral code. Or morality might be considered the
practice of such moral codes among member members
adopting such standards or codes.
ETHICS may be thought of then as simply the
study of morality . Accordingly, ethics is critical
reflection or critical analysis of moral issues and moral
phenomena.
Further BUSINESS ETHICS then can be defined as the
study of moral issues in a business context
Source:Encyclopedia of Business Ethics Robert W.Kolb
THE IMPORTANCE OF PRACTICING
BUSINESS ETHICS
 Why must we be ethical in the practice of
business?
Fundamental reason for examining the activities of business from
the moral perspective:

For the promotion of the common good, protection of the individuals

interests, and the preservation of human society in general.
 The Importance of Ethics in Business

The study of Ethics paves the way for common ground in

our understanding of the fundamental idea of what is
good and what is bad in our human conduct.

Without Ethics, people, especially businessmen, will set

their own moral standards, moral rules and moral
principles.
Moral Reasoning in Business

The essence of studying Business Ethics is

to provide managers and decision makers
with a framework for the resolution of
moral issues and problems affecting
business activities and the organization.
 What motivates us to be ethical in the
practice of business?

Ethics and Compliance Training Programs- Seeks to help

people understand the ethical aspects of decision
making and to incorporate high ethical standards into
their daily behavior
Rewards for ethical behavior
Role Models
Work-Life Balance
Written Code of Ethics -A formal statement of values and
ethical standards
 What is at stake in being ethical in
the practice of business?

Business that is inclined towards business, means

more clients
Helps improved employee retention
Ability to build relationships with stakeholders
Reputation and image
Employee welfare can be achieved
Business entity can attain greater stability and
longer growth
Business Ethics in a Financial Service Industry
MDT Quantum Corp.

1. Protecting the financial interests of clients

2. Conducting business with high transparency
3. Respecting and maintaining confidentiality of
any information entrusted to you
4. Present factual information.
5. Maintain accurate and true business records.
6. Treat everyone (employees, partners and
customers) with respect and integrity.
7. Protect the basic rights of the employees/workers.
8. Indulge in truthful and reliable advertising.
9. Accept new ideas. Encourage feedback from both
employees as well as customers.
10. The mission and vision of the company should be very
clear to it.
THANK YOU!