Business Ethics

What is Ethics about? Motivation based on ideas of Right or Wrong. The Philosophical study of Right and wrong

Whate is ethics about

Ethics (also known as Moral Philosophy ) is a branch of philosophy that addresses questions about morality that is Concept about the good and evil, Right and wrong Justice Virtues etc.

Business Ethics
The Critical Structure Examine how people and institutions should behave in the world of commerce. Business Ethics also known as Corporate Ethics Examine the Ethical Principles That Arise in a Business Environment.

Ethics
A Branch of Ethics that examine questions of moral right and wrong arising in the context of Business Practice or Theory.

Importance of Business Ethics

Create Value for Each other in Business Value Creator in Trade With out Business Ethics it will show that there is no need to teach Ethics in Business. Business and Ethics are move together.

BusinessEthics
Previously it was not so deep related business with ethics and sophistications, like today. The Business is changed now

Ethics
There is big difference between your right to do something and doing what is right. Business Ethics are critical for the creation of an environment.

Business as an Humanity
We Need to see the business in humanity Business as a Social Sciences aspects Business involve the Economics,Finance and Operations

Ethics in Business Goals

Business Ethics also deals as the study of standards of business behavior and goals. Negative Ethics Things not to do Positive Ethics What should do

Business Ethics are not just

Not just feelings or conciousness Not the same religion Not just following the Law Not Following what every body does Not just technology or Science

Ethics
Ethics should be the practices of common people How we act as individuals How we structure our Organizations and their work How we structure our Society, Laws or Systems How we act in our Business

Discussion Exercise
If somone not helped a person who met with an accident in front of him/her was lying on the road waiting for some one to give him assistance.

Right or wrong Yes or no or why if so?

If some one bribed to some one for getting the work done? If some one discriminated some one , because of caste , creed , sex or any other thing? Take home assignment. Please answer with logic and your own judgments and also explain the reasons write one page on each answer.

Business Environment

Ethical Behavior at Work

Honesty with his job and organization Loyalty with organization and customers integrity towards the organization/firm Punctuality Seriousness Openness Hard working Self motivated

Ethical Behavior at work

Time Devotions at work Professional Dealings with Colleagues and employees. Use of Resources, relationning and Result oriented. Initiator , Mobilizer , Caring and rationale user of resources. Reliability, Trustworthiness , Evaluator.

Unethical behavior at work

Dis Honesty Absentiism Irrational use of resources Carelessness for colleagues, customers, and organization. Taking off without reasons Poor performances Irresponsibilities , Dishonesty, Over demanded

Unethical behavior at work

Showing lack of interest in job Mis use of assets and tangibles Lack of representation of organization

Business Ethics , Moral development

FEAR Physical Consequences determine moral behavior Personal behavior driven by avoid to power Immediate consequences of action Prevalance of Physical punishment techniques To inculcate the attributes of obedience and deference to power

Needs
Individual needs dictate moral behavior Persons primary ethical concerns People are valued in terms of their utility For example I will help him because he may help me in return

Conformance
Approval of others determine moral behavior Good person satisfies family, friends, and associates Log Kia Kahen gey One earns approval by being conventionally. Every body is doing it.

Compliance
Compliance with authority and upholding social order are a persons primary ethical concerns. Doing ones duty is primary ethical concern. Consistency and precedence must be maintained ,Even If I feel that something may be un ethical, I will un questionably obey all orders and comply with everything my boss says because I beleave that the boss is always right

Consensus
Tolerance for rational dissent and acceptance of rule by the majority becomes primary ethical concerns. ExampleAlthough I DISAGREE WITH HER VIEWS I WILL UPHOLD HER RIGHT TO HAVE THEM The right action tends to be defined in terms of standard that have been critically examined and agreed upon by the whole society. (i.e. Constitution, norms,codes of conduct and laws.

Conscience and free will

What is right is viewed as a matter of individual conscience,free choice and personal responsibility for the consequences. Example There is no external threat that can force me to make decision that I consider morally wrong Any individual who reaches at this stage acts out of universal ethical principles.

Moral Development ande Ethics

Moral development is in no way corelated with intellectual development or your position in the hierarchy or factors like rank, seniority, status,successor earnings, salary,material wealth. In the words of Alexender Orlov Honesty and Loyalty May be often more deeply ingrained in the make-up of simple and humble people than in men of high ;position.

Moral Development
The moral progress of a person may be compared to moral growing up of children as they progress towards adulthood from stage 1 towards stage6. Small children are at stage 1 they are taught that whatever their elders say is right and doing the right thing is obeying authority and avoiding punishment. As they grow up , children are no longer so impressed by any single authority and they see that there are different sides of any issue and their actions will be governed by their needs state2)

corporate social responsibility introduction

Corporate social responsibility (CSR) is: An obligation, beyond that required by the law and economics, for a firm to pursue long term goals that are good for society The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as that of the local community and society at large About how a company manages its business process to produce an overall positive impact on society

Corporate social responsibility

Conducting business in an ethical way and in the interests of the wider community Responding positively to emerging societal priorities and expectations A willingness to act ahead of regulatory confrontation Balancing shareholder interests against the interests of the wider community Being a good citizen in the community

societal priorities and expectations A willingness to act ahead of regulatory confrontation Balancing shareholder interests against the interests of the wider community Being a good citizen in the community

`What is a code of ethics? `

A code of ethics or code of conduct is a way of communicating the purpose, values and objectives of an organization. It usually proposes specific principles and rules of conduct. A key objective of a code is to provide guidance on expected behavior as well as rationale for that behaviour

Corporate Social Responsibility

A new business strategy in which companies
conduct business responsibly by contributing to the economic health and sustainable development of the communities in which they operate, offer employees healthy, safe, and rewarding work conditions, offer quality, safe products, and services are accountable to stakeholders and provide a fair return to shareholders whilst fulfilling the above principles.

Responsible Business Ethics

The RBE defines itself through the approach of corporate social responsibility (CSR). Through this process, the RBE defines itself in terms of core purpose, values, and vision of a valued future. It defines that vision by determining which stakeholders will be involved in, or affected by, its choices, actions, and their outcomes

Business for Social Responsibility

Business for Social Responsibility: A company's commitment to operating in an economically and environmentally sustainable manner while recognizing the interests of its stak.Business decision making linked to ethical values, compliance with legal requirements, and respect for people, communities, and the environment. eholders

Ethical Relativity and Ethical Absolutism

Relativism goes beyond mere thinking that SSwhat is right in one country or time may be wrong in another. Everybody thinks that this can occur. The relativist thinks this because he is a relativist, and the absolutist simply says that the other ideas are wrong. The relativist says that what is right in one place/time is actually wrong in another, not just thought to be

Ethical Relativity and Ethical Absolutism

. The absolutist says that there is an absolute and actual right across time/countries and if some people think something is right and some think it is wrong (which often happens because moral ideas or current standards vary) they are in error.

 can you ever justify not telling the truth? Must we communicate honestly?

Balance the needs and wishes of stakeholders

There is pressure on business to recognize its responsibilities to society. Business ethics requires businesses to think about the impact of its decisions on people or stakeholders who are directly or indirectly affected by those decisions. Companies build their image by acting in accordance with their values, whatever they might be.

 Creating a positive public image comes from demonstrating appropriate values. Publicizing and following a company's values allows stakeholders to understand what the company stands for, that it takes its conduct as an organization seriously

Global challenges
Business must become aware of the ethical diversity of this world because of increasing globalization of the economy. It must learn the values of other cultures, how to apply them to its decisions, and how to combine them with its own values.

 In a world where transnational corporations and their affiliates account for two-thirds of the world's trade in goods, and employ 73 million people, corporations cannot afford to ignore the reality of multicultural ethics.

Ethical pay-off
: They serve to protect the organization from significant risks, and to some degree help grow the business. Risks such as breaches of law, regulations or company standards, and damage to reputation were perceived to be significantly reduced.

Employee Retention
With a successful program, the employees work with managers and supervisors in making decisions based on the company's values. A successful Business Ethics program establishes a culture that rewards making the right decision.

Preventing civil lawsuits:

Many times employees that experience issues in the workplace first try to resolve these issues internally. If their complaints are ignored, employees feel compelled to go to an outside advocate. That could be a private attorney, government regulator or news agency

 . Giving employees an internal outlet can solve problems without the event becoming public knowledge or an issue for the courts. Having the values permeate the company culture enhances the staff's trust in senior management. Why? Because with an effective program, the staff recognizes that management also operates within these appropriate values.

Market Leadership
Try Ethical Business Practices points out that businesses demonstrating the highest ethical standards are also the most profitable and successful.

Setting the Example

By setting the example in the community and market, the entire industry has a new standard that allows the community and the market to recognize the company as a leader. When the word gets out, competitors will have to answer questions about why they were not establishing similar values.

Descriptive ethics
Factual description and explanation of moral behavior and beliefs (typically by anthropologists, sociologists, and historians); concerned with what is done. In general, this view approaches ethical standards as historical products sanctioned by custom. Compare with

Duty
Action, or an act, that is due by moral or legal obligation. Rights, grounded in core ethical principles such as autonomy, beneficence/nonmaleficence and justice, create duties -either of non-interference (for negative rights) or for provision of social goods (positive rights). Duty need not be grounded only in the strong language of rights. Day-to-day social interactions also give rise to notions of duty: promises create duties of fidelity, gifts create duties of gratitude, and so forth. Many moral philosophers have argued that participation in a political-social system creates a duty to abide by its laws and standards

Justice
Commonly described as fairness, but more closely aligned to the concept of "desert" (pronounced like, but not to be confused with, "dessert" of the ice-cream et al variety): One has acted justly toward a person when one gives that person what is due or owed, and therefor what is deserved. Common to all definitions of justice is the minimal principle that relevantly similar cases (persons) be treated alike. Unfortunately, the definition of "relevantly similar" is not always self-evident. Some of the most intractable questions about justice arise over how to specify and prioritize among the relevant characteristics by which people are to be considered equal or unequal.

Rights
That which is due to individuals, based on core ethical principles. Rights create parallel duties on the part of others, or on society as a whole. So-called negative rights are rights of non-interference (e.g., with ones speech, conscience, associations), typically grounded in the principle of autonomy. Positive rights, by contrast, are rights of "recipience" (e.g., to education, health care).

Universalizability
Criterion that moral judgements, principles and ideals should apply in a similar way to all persons in relevantly similar circumstances.

Utility

Utility
Happiness, pleasure, good consequences. In J. S. Mills formulation, "actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness."

Utilitarianism
A conception of the moral life in terms of means-to-ends reasoning. An act or rule is right insofar as it produces or leads to the maximization of good consequences

Be Trustful
Recognize customers want to do business with a company they can trust; when trust is at the core of a company, it's easy to recognize. Trust defined, is assured reliance on the character, ability, strength, and truth of a business.

Keep An Open Mind

For continuous improvement of a company, the leader of an organization must be open to new ideas. Ask for opinions and feedback from both customers and team members and your company will continue to grow.

 Meet Obligations: Regardless of the circumstances, do everything in your power to gain the trust of past customer's and clients, particularly if something has gone awry. Reclaim any lost business by honoring all commitments and obligations.

 Have Clear Documents: Re-evaluate all print materials including small business advertising, brochures, and other business documents making sure they are clear, precise and professional. Most important, make sure they do not misrepresent or misinterpret.