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Presenatation On Ethics, Business Ethics and Ethical Dilemma

This document provides an overview of business ethics and ethical dilemmas. It defines ethics as well-founded standards of right and wrong that prescribe what humans ought to do. Business ethics concerns morally right or wrong business situations and decisions. The document discusses elements of business ethics like codes of conduct, ethics committees, and communication systems. It also explains the importance of business ethics in resolving ethical dilemmas by providing guidelines, ensuring fair distribution of resources, including employee input in procedures, and treating employees with respect.

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Nikhil Thakur
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68 views10 pages

Presenatation On Ethics, Business Ethics and Ethical Dilemma

This document provides an overview of business ethics and ethical dilemmas. It defines ethics as well-founded standards of right and wrong that prescribe what humans ought to do. Business ethics concerns morally right or wrong business situations and decisions. The document discusses elements of business ethics like codes of conduct, ethics committees, and communication systems. It also explains the importance of business ethics in resolving ethical dilemmas by providing guidelines, ensuring fair distribution of resources, including employee input in procedures, and treating employees with respect.

Uploaded by

Nikhil Thakur
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Presenatation on Ethics,

Business Ethics and Ethical


Dilemma
Submitted to Submitted by
USB, Chandigarh University Nikhil Kumar
15BCE5002
Definition of Ethics:-
“Ethics always says, “Not I, but thou.” Its motto is, “Not self, but non-self.” The
vain ideas of individualism, to which man clings when he is trying to find that
infinite power or that infinite pleasure through the senses, have to put yourself
last, and others before you. The senses say, “Myself first.” Ethics says, “I must
hold myself last.” Thus, all codes of ethics are based upon this renunciation;
destruction, not construction, of the individual on the material plane.”
-Swamy Vivekananda

According to Manuel Velasquez: Ethics is based on well-founded standards of


right and wrong that prescribe what humans ought to do, usually in terms of
rights, obligations, benefits to society, fairness, or specific virtues.
The word "ethics" is derived from the Greek "ethos" (meaning "custom" or
"habit"). Ethics differs from morals and morality in that ethics denotes
the theory of right action and the greater good, while morals indicate
their practice.

Ethics is not limited to specific acts and defined moral codes, but encompasses
the whole of moral ideals and behaviors, a person's philosophy of
life (or Weltanschauung)

Ethics, also called moral philosophy, the discipline concerned with what is morally
good and bad and morally right and wrong. Our concepts of ethics have been
derived from religions, philosophies and cultures. They infuse debates on topics like
abortion, human rights and professional conduct.
What is meat by 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. The term is derived from the Greek word ethos which can
mean custom, habit, character or disposition.
Ethics covers the following dilemmas:
• how to live a good life ?
• What are our rights and responsibilities ?
• What is the language of right and wrong which society accepts?
• Moral decisions - what is good and bad?
Definition of Business ethics
• Business ethics is “the degree of moral obligation that may be ascribed to
corporations beyond simple obedience to the laws of the state” -
Kilcullen and Kooistra
• It concerns “business situations, activities, and decisions where the issue
of right and wrong are addressed…. morally right or wrong as opposed
to, for example, commercially, strategically, or financially right or
wrong” - Crane and Matten

• Business ethics study the special obligations that a man and a citizen
accept when he becomes a part of the world of commerce. Business
ethics are the norms and moral values of human behaviour desired by
the contemporary society exclusively and inclusively dealing with
commercial transactions..
Understanding Business Ethics
Business ethics is the study of appropriate business policies and
practices regarding potentially controversial subjects including-
• Corporate governance
• Insider trading
• Bribery
• Discrimination
• corporate social responsibility and
• fiduciary responsibilities.
The law often guides business ethics, but at other times it provides
basic guideline that business can choose to follow to gain public
approval.
Some Element of Business Ethics
• A Formal Code of Conduct:
-Code of conduct is statements of organizational values. The code should reflect the
managements desire to incorporate the values and policies of the organization.
• Ethics Committee:
-Ethics committees can rise concerns of ethical nature; prepare or update code of
conduct, and resolve ethical dilemma in organization. They formulate ethical policies
and develop ethical standards.
• Ethical Communication System:
-Ethical communication system helps the employees in making enquiries, getting advice
if needed and reporting all the wrong done in the organization
• Establishing an Ombudsperson:
-An ombudsperson is responsible to help coordinate development of policies and
procedures to institutionalize moral values in the workplace.
Importance of business ethics in ethical
dilemma resolving
• These ethical dilemmas can be difficult for workers to grapple with, especially if
they don't know what the company's official guidelines are. Therefore, it is in an
organization's best interest to provide ethical training to its employees, to help
them identify unethical behavior and give them tools with which to comply.
• Distributive – Simply put, the distribution of resources should align with the value
of an individual’s inputs. Of course, this is more complex than salary. As a
manager, ensure that credit, bonuses, and benefits are also distributed fairly.
• Procedural – Employees don’t only want compensation. They also need input into
the process, and shared accountability in the decisions being made. When
designing the procedure of a given work group, inclusion of everyone’s
perspectives can lead to substantially higher satisfaction, efficiency, and fairness.
• Interactional – All members of an organization must both be treated
appropriately (from a social frame) and informed respectfully (from an
informational frame). In short, employees should be treated with propriety in
discussions and shouldn’t be left in the dark when important decisions are made.
Thank You Queries are Welcome..

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