business ethics
DESCRIPTION
Business EthicsTRANSCRIPT
![Page 1: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/1.jpg)
B U S SSENI
IHT C SE
Shikha Sota
![Page 2: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/2.jpg)
Are we Ethical?
![Page 3: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/3.jpg)
Have you ever cheated in exams/ tests?
Have you ever copied assignments from you classmates/ colleagues?
Have you ever borrowed something and then forgot to return?
![Page 4: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/4.jpg)
Have you ever talked during class while teacher is delivering lecture?
Have you ever accessed ideas from the internet and told that it was yours?
Have you ever reached late to college and lied that your car broke down?
![Page 5: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/5.jpg)
Have you ever lied to your parents that you were doing combined studies, but actually you were busy partying?
Have you ever lied to your girlfriend/ boyfriend that you are going away while you busy dating another girl/boy?
![Page 6: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/6.jpg)
Have you ever bribed traffic policeman to avoid challan?
Have you ever bribed the watchman to enter your girlfriend’s hostel?
Have you ever crossed red signal at the traffic lights?
![Page 7: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/7.jpg)
Ethics in business
![Page 8: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/8.jpg)
An employee surfs the Internet shopping for personal items on company time.
A plant manager decides to ship product to a customer even though he knows the parts have a quality problem because the problem
doesn't affect part function and the customer probably won't
notice.
![Page 9: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/9.jpg)
An employee spends several hours a week on company’s phone talking with her children, family and friends.
A manager shares important company information with a competitor for her potential gain.
![Page 10: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/10.jpg)
An employee takes office supplies home to stock his home office.
An accountant tells a supplier that their "check is in the mail" when he knows he hasn't written the check.
![Page 11: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/11.jpg)
"Ethics has to do with what my
feelings tell me is right or wrong."
Ethics
Hard to pin down one universal definition
"Ethics has to do with my
religious beliefs."
"Ethics consists of the standards of behavior our
society accepts."
![Page 12: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/12.jpg)
Business Ethics? What are they?
Being honest and responsible
![Page 13: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/13.jpg)
Being unprejudiced
Business Ethics? What are they?
![Page 14: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/14.jpg)
Doing what is fair to all concerned
• Being fair & objective
Business Ethics? What are they?
![Page 15: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/15.jpg)
Business Ethics? What are they?
![Page 16: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/16.jpg)
Defining a specific guide to behavior
Enhancing employee
morale
Its important…
![Page 17: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/17.jpg)
Its important…
![Page 18: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/18.jpg)
Reducing employee turnover
Inculcating loyalty in employees
Its important…
![Page 19: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/19.jpg)
Aspirations of business
Responsibility towards employees, community, shareholder & nation
Employee conduct & their rights
Transparency within & outside the organization
Code of Ethics
![Page 20: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/20.jpg)
Purpose of code
Goals & objectives of organization
Universally acceptable
Creating code of ethics
![Page 21: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/21.jpg)
Clear, non ambiguous
Written in language, understood by all
Contact information for clarifications
Must describe procedure in case of non compliance
Presentation
![Page 22: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/22.jpg)
Training material
Website
Company newsletter
Business presentations
Communication
![Page 23: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/23.jpg)
Loss of customers—especially those who value ethics
Loss of employees
Loss of reputation
Cost of not being ethical
![Page 24: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/24.jpg)
Competition
Organizational Goals
Government policies
Pressure from above
Why companies are not fair?
![Page 25: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/25.jpg)
Ambiguous situations
Comparative conceptual disparity
Personal benefits
To reduce expenses
Why companies are not fair?
![Page 26: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/26.jpg)
Legislation
Employee concern
Public perception
Media and NGO interest
Why companies are not fair?
![Page 27: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/27.jpg)
Objectivity
Fairnes
s
Social
responsibility
Inte
grit
y
Respect
Honesty
Nondiscriminatio
n
![Page 28: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/28.jpg)
Governance rules & Regulations
Business Culture
Management Style
Rapid growth of private sector
Factors driving India’s unique business practices
![Page 29: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/29.jpg)
Fusion of Business Ethics
Borderless Flow Of Professionals
Rise of Glocal Governance
Emergence of Compassionate Capitalism
Implications for business ethics in a global world
![Page 30: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/30.jpg)
Lack of management support
Company politics
Insufficient resources
Obstacles in business conduct
![Page 31: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/31.jpg)
Personal financial worries
Little or no recognition of achievements
Need to meet sales, budget or profit goals
Obstacles in business conduct
![Page 32: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/32.jpg)
Satyam Scam
![Page 33: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/33.jpg)
Tighter rules for accounting and corporate governance
Appointment of independent directors by selection committees
Perfecting the corporate law
Prevention
![Page 34: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/34.jpg)
Greater oversight from regulatory and government authorities
Fasten court procedures
Giving SEBI more rights
Prevention
![Page 35: Business ethics](https://reader033.vdocuments.mx/reader033/viewer/2022051313/547ddc59b4af9fbd308b46f5/html5/thumbnails/35.jpg)
It always pays to be ethical..