Ethics
Ethics
Ethics
WHAT IS ETHICS
Ethics may be referred to some standardized form of conduct or behavior of individuals, understood and accepted in a particular field of activity The work ETHICS has its origin in Greek word Ethics means character, norms, morals and ideals prevailing in a group and society. Ethics is a mass of moral principles or set of values about what conduct ought to be. They give an idea what is right or wrong, true of false, fair or unfair, just or unjust, proper or improper, e.g. Honesty, obedience, equality, fairness, etc and respect and then doing the right thing
BUSINESS ETHICS
Carter McNamara has defined: Business ethics is generally coming to know what is right and wrong in the workplace and doing what is rightthis is in regard to efforts of products/ services and in relationships with stakeholders.
A group of moral principles, standards of behavior, or set of values regarding proper conduct in the workplace
Level 1: Society
Continued
Individual level: personal level interactions, obligations and rights as human beings Internal policy: ethics in practices of organization w.r.t. employment, rights of employees, etc. Stake holders: suppliers, creditors, customers, etc.
Ethical Audits, Ethics committees, judicial boards, Ethics training programs, etc., :- to have ethical policies in business Groups to whom corporate ethics codes apply?? * Employees & their families * Local communities * Suppliers * Share holders * Country Govt. * Foreign Govt.s
Environment
Stress Confusion Pressure to perform at expected levels Competition within the industry No knowledge
at Work
Management/owner toward client/customer Management/owner toward employees Employee toward Employer, Co-workers, Customers
Abuse
of Business
Abuse Higher prices Business Failure Fewer Jobs Unpleasant Working Conditions
Stealing Merchandise Money * Shoplift *Kickback * Conflict of Interest * Unauthorized Discounts Time
Do We Rationalize Business Abuse? Everybody does it The co. wont mind it The co. overcharges Im not paid enough The co. doesnt deserve my loyalty
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