A PAPER ON BUSINESS ETHICS PRESENTED BY M.SATYADEEPHI Y.

VAMSEE KRISHNA

BUSINESS ETHICS
Abstract
Within the general frame of proposals for an adequate management of business ethics, this paper is based on the vision of corporate culture as a pattern to achieve such purpose. If we consider ethics as a specific value of corporate culture, we may resort to the mechanism of cultural change and implementation in order to manage ethics. Despite the difficulties it entails in terms of time and money investment, this procedure is one of the safest ways to reach ethical values which are known, shared and then practiced by all the members of a corporation, whatever the category. From this central standpoint, and basing ourselves on our own proposal for the management of culture, we shall describe which specific steps must be taken in order to achieve a set of ethical values which are both realistic and furthermore shared by all collaborators of an organization.

INTRODUCTION TO ETHICS:
Present day managers are increasingly concerned about the social and ethical issues that they and their organizations are facing. This is happening throughout the world and India is no exception. Managers manage the organization which is within the society.

MEANING OF ETHICS:
Ethics has two things. Firstly, ethics refers to well based standards of right and wrong that prescribe what humans out to do, usually in terms of right and wrong that prescribe what human beings ought to do, usually in terms of rights, obligations benefits to society, fairness or specific virtues Secondly, ethical standards also include those that enjoin virtues of honesty, compassion and loyalty, Ethics reside within the individuals and as such are defined separately by each individual in his own way. Ethics are principles of personal and professional conduct.

CONCEPT OF BUSINESS ETHICS:

Business ethics deals with the application of moral principles to business problems business ethics relate to behaviour of a businessman in business situation they are primarily with the impact of decisions people with and without the organization, individually and collectively in communities or in other groups. The purpose of business ethics is to guide the efforts of managers in discharging their duties to the satisfaction of various stakeholders like employees owners, customers, suppliers and the general public. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole. In the increasingly consciencefocuses market places of 21st century, the demand processes and actions are increasing. Simultaneously, pressure is applied on industry to improve business ethics through public initiatives and laws.

WHY ETHICS?
Ethical considerations in business are important to managers as individual personal life and business life cannot be neatly separated with respect to moral judgments. Need for ethics in management is due to following reasons: Survival of business unit Growth of business Earning goodwill Improving confidence Maintaining inter relationship

IMPORTANCE OF BUSINESS ETHICS:

Ethics is important to business in general, HR in particular for several reasons. Ethical attitude helps the management make better decisions. Ethics is important because the government, law and lawyers cant do everything to protect the society.

 Importance can also be understood by the fact that ethical businesses tend to make much more profits that others. An organization, which is well known for its ethical practices, creates a good will for itself in the market.

ETHICAL GUIDELINES FOR MANAGERS:

Obey the law Tell the truth Show respect for people Stick to the golden rule.

BUSINESS ETHICS IS NOW A MANAGEMENT DISCIPLINE:

Business ethics has come to be considered a management discipline, especially since the birth of the social responsibility movement in the 1960s. Today, ethics in the workplace can be managed through use of codes of ethics, codes of conduct, roles of ethicists and ethics committees, policies and procedures, procedures to resolve ethical dilemmas, ethics training, etc.

CODE OF ETHICS:
A code is a statement of policies principles or rules that guide behaviour code of ethics dont apply to business enterprises; they should guide the behaviour of the persons in all organizations and in every day of life. A code of ethics often focuses on social issues. It may set out general principles about an organizations beliefs on matters such as mission, quality, privacy or the environment. The effectiveness of such codes of ethics depends on the extent to which management supports them with sanctions and rewards.

ETHICAL DELEMMAS:
Determining what is or what is not ethical is often a difficult task. Sometimes unethical behaviour takes place because of ethical dilemma. Questions like accepting

bribes from the suppliers, falsifying records; deceitful advertising with promises of the moon may be clearly unethical. However ethics of managerial decisions are often more complex

INTERNATIONAL BUSINESS ETHICS:

While business ethics emerged as a field in the 1970s, international business ethics did not emerge until the late 1990s, looking back of the international developments of that decade. Many new practical issues arose out of the international context of business. Theoretical issues such as cultural relativity of ethical values receive more emphasis in this field. The search for universal values as a basis for international commercial behaviour.

Comparison of business ethical traditions in different countries. Also on the basis of their respective GDP and [Corruption rankings]. Comparison of business ethical traditions from various religious perspectives. Issues such as globalization and culture imperialism.

Varying global standards e.g. the use of child labour.

10 MYTHS ABOUT BUSINESS ETHICS:

Business ethics in the workplace is about prioritizing moral values for the workplace and ensuring behaviours are aligned with those values its values management. Yet, myths abound about business ethics. Some of these myths arise from general confusion about the notion of ethics. Other myths arise from narrow or simplistic views of ethical dilemmas. 1. Business ethics is more a matter of religion than management. 2. Our employees are ethical so we dont need attention to business ethics. 3. Business ethics is a discipline best led by philosophers, academics. 4. Business ethics is superfluous it only asserts the obvious: do good!

5. Business ethics is a matter of the good guys preaching to the bad guys. 6. Business ethics in the new policeperson on the block. 7. Ethics cant be managed. 8. Business ethics and social responsibility are the same thing. 9. Our organization is not in trouble with the law, so were ethical. 10. Managing ethics in the workplace has little practical relevance.