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Business Ethics
The value of what should be
done and what should not be done from the business point of view
Genesis of Ethics
Ethics is a Greek
or manners# ob$ective#
Ethics is sub$ective
society of business# %ormed ith a limited vision for economic generation but should resolve conflict ith society by servicing the community#
&' of Ethics#
UNITARIAN VIEW OF ETHICS
(orality and ethics has no role in business# )ociety and la deals ith ethics and morality#
INTEGRATED VIEW OF ETHICS
Ethical behavior and business should be integrated in a ne era called Business Ethics#
Business#
(orality , ethics
(arket system
BUSINESS ETHICS
)-"*E02
Ethical "onsciousness
)tage 3 corporate citizenship )tage 4 )take holder concept )tage 5 Profit (a6imization in the long term )tage & Profit (a6imization *n the short term# )tage 7 Anything for Profit )tage 8 9ungle 1a
Ethical standards +ary bet een cultures And countries# (ore evident %rom :amongst Entrepreneurs: "orporations#
1ong term profitability and Attractiveness of -rgn *s key to competitive strategy Both attractiveness , competitive Position can be shaped i#e# challenging and e6citing
Ethics in Business
0 o domains -+E.0 approach E6ternal theft Bribery etc#! "-+E.0 approach *nternal (erger , Ac;uisitions# *nsider 0rading#
Ethics 'ilemma#< Pricing! advertising! promotion! Working condition! customer service! Work force reduction=s !environment "ommunity relations! supplier relations# *mportant of trust >empathy? maturity in relationship
morality is the ob$ect of en;uiry# Ethics or behavior accepted ith in a group is recorded as credos@ espoused value of group:-rgn# When espoused value become practiced values! then the group is said to be ethical -rganisation#
hile
Ethical theories can be classified into three sub$ect areasA< (eta ethics /ormative ethics Applied ethics#
'eals ith entire gamut of ethical issuesA< moral values e6ists independent of humans @psychological issues that deals ith psychological basis of the moral actions and linguistic issues dealing ith moral terms< reflect on reactions on photo at UB deities and others# Belief system! tradition< Bentucky launching chicken product at Bangalore#
'eals ith ethics dealing ith Euthanasia! TERRI SCHIAVO FLORIDA omenCC< female feticide and infanticide! displacement of tribal people due to hydel po er pro$ects! cloning! testing drugs on animals
ith determination hat is Fright=!G fair! prior and $ustG in decisions and actions made that affect stake holders# *t focuses on the business relationship ith employees! customers! stockholders! creditors! suppliers and member of the society in hich it operates#
"orporate ethics ! is a a matter of leadership# Adhere to corporate credos<code of conduct# 'evelopment of *H!EH and )H culture#
providing access to credit# 9oint liability groups>91G?< rythu mitra program< credit access to landless farmer=s agri laborers! empo ers omen ith micro credit! micro enterprise! created special funds for ater shed development! Partnering ith corporate like *0"! 0atas! ( and (! ambu$a cements etc! many more# BP"1 provides alternate source of energy! solar energy for street lights at villages! skill enhancement on modern farming practices! distributes smokless chulas! training for income generation pro$ects# Bank of *ndia! focuses on belo poverty line! adopted 8I8 villages #makes use of four ( ith /G- for various services#
/e
orld is outsourcing ould# Anything done most efficiently cost effectively can be done by someone else## /G- have to develop ne tie up ith corporate to align themselves to meet the changing needs of society## "orporate have f und of .s# 8 laks crores for "). in *ndia alone# /ot to speak of 0ransnational corporation /et orking of /Gand development of search engines for various relevant social pro$ects is the need of the hour# #