personal values and business ethics
DESCRIPTION
TRANSCRIPT
Made by : ASHUTOSH SHARMA
“Value is view of life and a judgment of what is desirable , which is very much a part of person’s personality and a group’s morale”.
Values are • We do what we say• We act decisively to create value• We hold ourselves accountable• We dare to be different• We act with care
• Business ethics is the study of how personal moral norms apply to activities and goals of a commercial enterprise .
• Business ethics operates as system of values and is primarily concerned with the relationship of business goals and techniques to specifically human ends.
What Are Unethical Business Practices?
– Managers lying to employees– Office nepotism and favoritism– Taking credit for other’s work– Stealing from the company– Firing an employee for whistle-blowing(wrong
doing in or by an organisation)– Padding expense accounts– Divulging confidential information or trade secrets– Terminating employment without sufficient notice– Using company property/materials for personal
use
Importance
• Values helps in preventing unethical practices constantly being used by business owners.
• It helps the strategists to somehow reconcile the pragmatic demands of work which prevents the use of unethical business practice for achieving organization goals.
• Helps in elimination of abuse of public power by politicians and bureaucrats for personal gains.
• Business ethics are also identified as major source of competitive advantage.
• Companies which are recognized as ethical organizations are able to attract investment and human capital, retain talent, differentiate themselves in the market and create a perception of being customer friendly
(strategists therefore have to provide the right values and ethical sense to the organization they manage)
• Values are personal in nature while ethics is generalized value system .• Values offers alternatives to choose
from.• For instance CSR as a business policy
is optional, a strategist may or may not posses this value and still remain within the limits of business ethics.
Inculcating Values & Ethics
• Considering values and ethics in recruitment and selection.
• Incorporating the statement of values and code of conduct into employee training and educational programmes.
• Paying special attention to those parts of the organization that are susceptible to be ethically sensitive such as purchase.