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Chapter-6-Business-Ethics

Corporate Governance

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claireny03
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30 views10 pages

Chapter-6-Business-Ethics

Corporate Governance

Uploaded by

claireny03
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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BUSINESS

ETHICS
1 2
BASIC CONCEPT PURPOSES

3 4

SCOPE AND IMPACT ETHICAL CHALLENGES


1
What is Business Ethics BASIC CONCEPT

- Standards of moral conduct, behavior and judgement


in business.
- It involves the moral and right decisions while
engaging in such business activities as manufacturing and
selling a product and providing a service to customers. -
- Area of corporate responsibility where businesses
are legally bound and socially obligated to conduct business
in an ethical manner.
2
Main Purpose of Business Ethics PURPOSES

to help business and would-be business to


determine what business pactices are right
and what are wrong.
2
Special Purposes of Business Ethics PURPOSES

To make business realize that that they cannot


employ double standards to the actions of other
people and to their own actions.
To show businessmen that common practices
which they have thought to be right because they
see other businessmen doit it, are really wrong.
To serve as a standard or ideal upon which
business conduct should be based.
3
SCOPE OF BUSINESS ETHICS SCOPE & IMPACT

Action that are not forbidden by law are not


always ethical.
Business ethics covers acts that mabe legal
(not forbidden by law) but which are wrong
because they violate ethical principles.
There is no uniform standard of what is right
and wrong.
3
IMPACTS OF BUSINESS ETHICS SCOPE & IMPACT

ECONOMIC IMPACTS SOCIAL IMPACTS


Wages and Benefits Bribes
Materials Fraud
Prices Corruption

ENVIRONMENTAL IMPACTS ON BUSINESS MANAGERS


Energy Best interest of business vs.
Waste law and conscience.
3
What manager should do: SCOPE & IMPACT

acknowledge that his/her role is to serve the business


enterprise and the community.
avoid all abuse of executive power for personal gain,
advantage or prestige.
be actively concerned with the difficulties and problems of
subordinates, treat them fairly and by example,lead them
effectively, assuring to all the right of reasonable access
and appeal to superiors.
cooperate with his colleagues and not attempt to secure
personal advantage at their expense.
4
ETHICAL CHALLENGES

ETHICAL CHALLENGES IN TODAY’S WORLD

In an article, “Ethical Callenges in Today’s World” the


author said that the corporate governance which has become a
buzzword in financial and capital markets is ethic based. She
also said that, ethics and business are imcompatible and that
economics and religion never the two can meet. Then ended
the article saying, that ethics must be central to any ordering of
human affairs.
THANK
YOU

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