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Business Ethics - PowerPoint PPT Presentation


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Business Ethics. Lecture_6. Business Ethics. Ethics at work. Business Ethics. Business ethics is applicable not only to the manner the business relates to a customer but also to the society at large . It is the worth of right and wrong things from business point of view .

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business ethics1
Business Ethics

Ethics at work

business ethics2
Business Ethics

Businessethicsisapplicablenotonly to themannerthebusinessrelates to a customerbutalso to thesocietyatlarge. It istheworthofrightandwrongthingsfrombusinesspointofview.

business ethics3
Business Ethics

Everystrategicdecisionhas a moralconsequence. Themainaimofbusinessethicsis to providepeoplewiththemeansfordealingwiththemoralcomplications. Ethicaldecisionsin a businesshaveimplicationssuchassatisfiedworkforce, highsales, lowregulationcost, morecustomersandhighgoodwill.

ethical issues for business
Ethical issues for business

Someofethicalissuesforbusinessarerelationofemployeesandemployers, interactionbetweenorganizationandcustomers, interactionbetweenorganizationandshareholders, workenvironment, environmentalissues, bribes, employeesrightsprotection, productsafetyetc.

significant ethical principles to be followed for successful business 1
Significant ethical principles to be followed for successful business 1
  • Protectthebasicrightsoftheemployees/workers.
  • Followhealth, safetyandenvironmentalstandards.
  • Continuouslyimprovisetheproducts, operationsandproductionfacilities to optimizetheresourceconsumption
  • Donotreplicatethepackagingstylesoas to misleadtheconsumers.
  • Indulgeintruthfulandreliableadvertising.
  • Strictlyadhere to theproductsafetystandards.
  • Acceptnewideas. Encouragefeedbackfrombothemployeesaswellascustomers.
slide7
2

8. Presentfactualinformation. Maintainaccurateandtruebusinessrecords.

9. Treateveryone (employees, partnersandcustomers) withrespectandintegrity.

10. Themissionandvisionofthecompanyshouldbeveryclear to it.

11. Donotgetengagedinbusinessrelationshipsthatlead to conflictsofinterest. Discourageblackmarketing, corruption

12. Meetallthecommitmentsandobligationstimely.

slide8
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13. Encouragefreeandopencompetition. Donotruincompetitors’ imagebyfraudulentpractices.

14. ThepoliciesandproceduresoftheCompanyshouldbeupdatedregularly.

15. Maintainconfidentialityofpersonaldataandproprietaryrecordsheldbythecompany.

16. Donotacceptchildlabour, forcedlabouroranyotherhumanrightabuses.

ethics in the workplace
Ethics in the workplace

Managing ethics in the workplace holds tremendous benefit for leaders and managers, benefits both moral and practical. This is particularly true today when it is critical to understand and manage highly diverse values in the workplace.

business ethics is now a management discipline
Business Ethics is now a Management discipline

BE has become to be considered a Management discipline, especially since the birth of the social responsibility movement in the 1960s

business ethics in the workplace can be managed through the use of
Business Ethics in the workplace can be managed through the use of:

Codes of ethics

Codes of conduct

The roles of ethicists and ethics committees

Policies and procedures to resolve ethical dilemmas

Ethics training, etc.

benefits of managing ethics in the workplace
Benefits of managing ethics in the workplace

Attention to business ethics has substantially improved the society

Ethics programmes

help maintain a moral course in turbulent times

cultivate strong team work and productivity

Support employee growing and meaning

benefits of managing ethics in the workplace1
Benefits of managing ethics in the workplace

4. help ensure that policies are legal

5. help manage values associated with quality management, strategic planning and diversity management

6. promote a strong public image

guidelines for managing ethics in the workplace
Guidelines for managing ethics in the workplace

Recognise that managing ethics is a process

The bottom line of an ethics programme is accomplishing preferred behaviours in workplace

The best way to handle ethical problems is to avoid their occurrence in the first place

guidelines for managing ethics in the workplace 2
Guidelines for managing ethics in the workplace 2

4. Make ethical decisions in groups, and make decisions public, as appropriate

5. Integrate ethics management with other management practices

6. Use cross-functional teams when developing and implementing the ethics management programme

7. Value forgiveness

key roles and responsibilities in ethics management
Key roles and responsibilities in Ethics management

1. The organization's chief executive must fully support the program. 2. Consider establishing an ethics committee at the board level. 3. Consider establishing an ethics management committee.4. Consider assigning/developing an ethics officer.

key roles and responsibilities in ethics management1
Key roles and responsibilities in Ethics management

5. Consider establishing an ombudsperson. 6. Note that one person must ultimately be responsible for managing the ethics management programme.

social responsibility of managers
Social responsibility of managers

Socialresponsibilityisdefinedastheobligationandcommitmentofmanagers to take steps forprotectingandimprovingsociety’swelfarealongwithprotectingtheirowninterest.

managers must be socially responsible because of the following reasons
Managers must be socially responsible because of the following reasons:

OrganizationalResources

Precautionarymeasure

MoralObligation

EfficientandEffectiveEmployees

BetterOrganizationalEnvironment

ethics at work
Ethics at work

Intheworkplacewearefaceddailywiththeresponsibilityofmakingdecisions. Howdowerespondwhensomeonespeaks to us? Howdowedecidewhat to do first whenthe boss givesusanassignment?

ethical decision
Ethical decision

Thebestway to make a decisionis to thinkofresults: Whatisthebestway to achievecertaingoals? Oncethequestionisanswered, theethicaldecisionismade.

questions to answer to make ethical decisions
Questions to answer to make ethical decisions
  • Howcanemployeesfeelprofessionallyfulfilled?
  • Howcancustomersbesatisfied?
  • Howcanprofitbeassuredforshareholdersandstakeholders?
  • Howcanthecommunitybeserved?
ethical decisions made by business leaders
Ethical decisions made by business leaders

Ethicaldecisionsaresometimesdifficultforbusinessleadersfortheymustchoosebetweendifferentpriorities. Making a decisionbasedontheneedsofemployees, customers, stakeholdersandthecommunityrequires a goodleader.

guidelines for making ethical decisions
Guidelines for making ethical decisions

Laws

Individual ethics

Ethical conflicts

e thical conflicts at work
Ethicalconflictsatwork.
  • Conflictofinterest– a leaderachievespersonalgainfromthedecisionhemakes;
  • Loyaltyversustruth – a leadermustdecidebetweenloyalty to thecompanyandtruthfulnessinbusinessrelations;
  • Honestyandintegrity– a leadermustdecideifhewillbehonestorlie; ifhewilltakeresponsibilityfordecisionsandactionsorblamesomeoneelse;
  • Whistleblowing – Doestheleadertellothers (mediaorgovernment) aboutunethicalbehaviourofthecompanyorinstitution?
company s ethical behaviour
Company’s ethical behaviour

The need for a company to behave “ethically” is described in terms of a company’s need to interact productively with its stakeholders.

business ethics4
Business Ethics

Business Ethics means conducting all aspects of business and dealing with all stakeholders in an ethical manner…

globalisation business ethics and competitive advantage
Globalisation, Business Ethics and Competitive Advantage
  • Globalization has brought about greater involvement with ethical considerations and most importantly achieving competitive advantage through business ethics.
  • Globalization and business ethics are linked as they affect a company’s ability to commit to its shareholders, in particular to external investors, and preserve the trust needed for further investment and growth.
ethics as a corporate strategy
Ethics as a corporate strategy
  • It is increasingly important for companies to deal with ethics as a corporate strategy that, if uniquely implemented, could achieve competitive advantage for the company rather than waiting to react to possible ethical issues of importance to the targeted stakeholders.
  • It is the necessity of being ethically proactivecompany rather than being ethically reactive company.
business ethics as a competitive advantage
Business Ethics as a competitive advantage

Business ethics as competitive advantage

involves effective building of relationships with a company’s stakeholders based on its integrity that maintains such relationships.

ethics and corporate strategy
Ethics and corporate strategy

It is increasingly important to include ethics in the corporation’s strategy and potentially implement it in a way that achieves a competitive advantage for the company and adds value to the stakeholders.

questions for revision
Questions for revision

What is the main aim of business ethics?

What are the implications of ethical decisions in business?

What are the ethical issues for business?

What are the ethical principles for successful business?

How can business ethics be managed in the work place?

questions for revision 2
Questions for revision 2

6. What are the benefits of managing business ethics in the work place?

7. Name the guidelines for managing ethics in the workplace.

8. Name the key roles and responsibilities in ethics management.

9. What are the reasons for managers’ social responsibility?

questions 3
Questions 3

10. What are the questions to answer to make ethical decisions?

11. Name the guidelines for making ethical decisions.

12. What are ethical conflicts at work?

13. Ethics as corporate strategy.

14. Business ethics as a competitive advantage.