Business Ethics Fundamentals
Business Ethics Fundamentals
Business Ethics Fundamentals
Presentation by
Paromita Mukherjee
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.
Attention to ethics in the workplace sensitizes
managers and staff to how they should act so
that they retain a strong moral compass.
BUSINESS ETHICS
Interest in business ethics has been increasing
since 1960s
Interest has been spurred by headlines of
business scandals
A 1982 study reported that of the Fortune 500
companies,115 companies (23%) had been
convicted of at least one major crime or paid
penalties of serious misbehavior
Is the importance of business ethics declining in
business and government practices?
Greater focus on ethics, morals and values.
INDIVIDUAL
CHRACTERECTICS
ETHICAL
DILEMA
STAGES OF
MORAL
DEVELOPMENT
STRUCTURAL
CHARECTERISTICS
OF ORGANIZATION
MODERATORS
ETHICAL /
UNETHICAL
BEHAVIOUR
ORGNIZATIONAL
CULTURE
Government corruption
Financial scandals
Product safety
discrimination
Sexual harassment
Firing an employee for whistle blowing
Divulging confidential information
Whats in it for me to be
ethical?
A more accurate perception of the world around you, follow your
conscience.
-Have the courage to do what is right and do try new things even
-Dont loose heart if you fail or dont get what you want
-A stronger personality, and greater likelihood of being happy in
life
CONSIDER CONSEQUENCES
IS IT ETHICAL ?
IS IT LEGAL ?
IS IT OK ?
IS IT RIGHT ?
Is it fair ?
Does it hurt anyone ?
Have I been honest with
those affected?
Can my conscience live
with this decision ?
CONCLUSION
In the last few years we have seen a drastic
change in society as well as in all facets of the
business world. The consumer, today, is more
aware of his rights and his requirements. He
demands the best quality at the regular prices.
Companies today need to incorporate a strong
or responsible culture to face the instance
reaction of the consumer.
Todays market calls for stringent business ethics
to be imposed in the corporate world.
BIBLIOGRAPHY
Ethics in Business- ROBERT.B. MADDUX
DOROTHY MADDUX
http://www.mapnp.org/library/ethics/
http://www.uwm.edu/People/andrewk/