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Business Ethics and Corporate Governance: Dr. Chandrakanta Sahoo

Business ethics involves establishing moral principles to guide business decisions and corporate governance. It examines issues like whistleblowing, corporate culture, and social responsibility. Corporate governance aims to balance the interests of various stakeholders. Factors like personal values, industry guidelines, social norms influence business ethics. Upholding ethical values and complying with ethical standards is important for businesses to function smoothly and maintain their reputation.

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33 views11 pages

Business Ethics and Corporate Governance: Dr. Chandrakanta Sahoo

Business ethics involves establishing moral principles to guide business decisions and corporate governance. It examines issues like whistleblowing, corporate culture, and social responsibility. Corporate governance aims to balance the interests of various stakeholders. Factors like personal values, industry guidelines, social norms influence business ethics. Upholding ethical values and complying with ethical standards is important for businesses to function smoothly and maintain their reputation.

Uploaded by

sarita sahoo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Business Ethics and

Corporate Governance

Dr. Chandrakanta Sahoo


What is ethics?
• At its simplest, ethics is a system of moral principles. They affect how
people make decisions and lead their lives.
• Ethics is concerned with what is good for individuals and society and
is also described as moral philosophy.
• Business Ethics studies how to deal with corporate
governance, whistleblowing, corporate culture, and
corporate social responsibility. It emphasizes
Business standard principles prescribed by governing bodies.
Non-compliance with business ethics leads to
Ethics & unnecessary legal actions.   
• Corporate governance is the system of rules,
Corporate practices, and processes by which a firm is directed
and controlled. Corporate governance essentially
Governance involves balancing the interests of a company's
many stakeholders, such as shareholders, senior
management executives, customers, suppliers,
financiers, the government, and the community.
Business Ethics
Explained
Factors Influencing Business Ethics
• The application of ethics depends on the personal values of the business owners.
At the end of the day, what is right and wrong within a firm boils down to
individual ethics. Therefore, when managements choose leaders, ethics play a
huge role. These individuals represent the firm. The management is ultimately
liable for any unethical practice conducted by an executive or employee.
• More importantly, there are industry-specific government guidelines for working
conditions, product safety, statutory warning, and social responsibilities. The
guidelines need to be followed for the smooth functioning of the firm. The social
culture impacts ethics; businesses are expected to adopt certain social and moral
practices. If businesses fail to comply with societal norms, they risk ruining brand
image, reputation, and credibility.
Taking Sides in an Employee Argument

Examples of
Lying
Unethical
Behavior in the
Workplace Misusing Company Time

Cultivating a Hostile Workplace


• Values are basic and fundamental beliefs that guide
or motivate attitudes or actions. They help us to
determine what is important to us. Values describe
the personal qualities we choose to embody to
guide our actions; the sort of person we want to
be; the manner in which we treat ourselves and
Value and others, and our interaction with the world around
us. They provide the general guidelines for
Ethics conduct. (Whistle Blowing/ courage Vs. Loyalty)
• Values are essential to ethics. Ethics is concerned
with human actions, and the choice of those
actions. Ethics evaluates those actions, and the
values that underlie them. It determines which
values should be pursued, and which shouldn't.

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