ethics

1. Amanjit kaur
6794
MBA 8TH sem

2. The basic concept and fundamental principle of
decent human conduct. It includes study of universal
values such as the essential equality of all men and
women, human or natural rights, obedience to the law
of land, concern for health and safety and,
increasingly, also for the natural environment.

3.  Meta-ethics, about the theoretical meaning
and reference of moral propositions and how
their truth value(if any) may be determined.
 Normative ethics, about the practical means
of determining a moral course of action.
 Applied ethics draws upon ethical theory in
order to ask what a person is obligated to do
in some very specific situation, or within
some particular domain of action.

4.  Study of human behavior and makes
evaluative assessment about that as moral or
immoral (A diagnostic goal).
 Establishes moral standards and norms of
behavior.
 Makes judgment upon human behavior based
on these standards and norms.
 Prescribes moral behavior and makes
recommendations about how to or how not
to behave.
 Expresses an opinion or attitude about
human contact in general.

5.  Business ethics is a form of applied ethics or
professional ethics that examines ethical
principles and moral or ethical problems that
arise in a business environment. It applies to all
aspects of business conduct and is relevant to
the conduct of individuals and entire
organizations.
 It is the behavior that a business adheres to in its
daily dealings with the world. The ethics of a
particular business can be diverse. They apply
not only to how the business interacts with the
world at large, but also to their one-on-one
dealings with a single customer.

6.  Responsibilities of Business :
a) Not to do harm knowingly
b) To adhere all applicable laws and regulations
c) The accurate representation of their
education, training and experience
(d) Active support, practice and promotion of
this code of ethics.
 Honesty and Fairness :
a) Being honest in serving consumers, clients,
employees, suppliers, distributors and the
public.
b) No knowingly participating in conflict of
interest without prior notice to all parties
involved.

7.  Rights and Duties of parties
a) Products and service offered are safe and
fit for their intended use
b) Communications about offered product
and services are not deceptive
c) All parties intend to discharge their
obligations, financial and otherwise, in good
faith.

8.  General business ethics
This part of business ethics overlaps with the
philosophy of business, one of the aims of which is to
determine the fundamental purposes of a company. If
a company’s main purpose is to maximize the returns
to its shareholders, then it should be seen as
unethical for a company to consider the interests and
rights of anyone else.
 Corporate social responsibility or CSR: an umbrella
term under which the ethical rights and duties
existing between companies and society is debated.
 Issues regarding the moral rights and duties between
a company and its shareholders: fiduciary
responsibility, stakeholder concept vs. shareholder
concept.

9.  Ethical issues concerning relations between
different companies.
 Leadership issues: corporate governance.
 Political contributions made by corporations.
 Law reform, such as the ethical debate over
introducing a crime of corporate
manslaughter.
 The misuse of corporate ethics policies as
marketing instruments.

10.  1. Conflicting interests
Business ethics can be examined from various
perspectives, including the perspective of the
employee, the commercial enterprise, and
society as a whole. Very often, situations arise in
which there is conflict between one or more of
the parties, such that serving the interest of one
party is a detriment to the other. For example, a
particular outcome might be good for the
employee, whereas, it would be bad for the
company, society, or vice versa. Some ethicists
see the principal role of ethics as the
harmonization and reconciliation of conflicting
interests.

11.  2. Ethical issues and approaches
Philosophers and others disagree about the
purpose of a business ethic in society.
Some take the position that organizations are
not capable of moral agency.
Other theorists contend that a business has
moral duties that extend well beyond serving
the interests of its owners or stockholders,
and that these duties consist of more than
simply obeying the law.

12.  business ethics are moral principles that
define right and wrong behavior in the world
of business. The right and wrong behavior in
business is determined by the public interest
groups, and business organizations as well as
an individual’s personal morals and values.
 Ethics are the principle of behaviors that
distinguish between the rights from the
wrong. Business ethics is the evaluations of
business activities and behaviors as right and
wrong. Ethical conduct conforms to what a
group or society, as a whole considers right
behavior.

13.  Long-term growth: sustainability comes from
an ethical long-term vision which takes into
account all stakeholders. Smaller but
sustainable profits long-term must be better
than higher but riskier short-lived profits.
 Cost and risk reduction: companies which
recognize the importance of business ethics
will need to spend less protecting themselves
from internal and external behavioral risks,
especially when supported by sound
governance systems and independent
research.

14.  Anti-capitalist sentiment: the financial crisis
marked another blow for the credibility of
capitalism, with resentment towards bank
bailouts at the cost of fundamental rights
such as education and healthcare.
 Limited resources: the planet has finite
resources but a growing population; without
ethics, those resources are replete for purely
individual gain at huge cost both to current
and future generations.

15.  Running a business ethically is good for
business. if properly interpreted means the
standards of conduct of individual business
people, not necessarily the standards of
business as a whole.
 Ethics are important not only in business but
in all aspects of life because it is an essential
part of the foundation on which of a civilized
society is build. A business or society that
lacks ethical principles is bound to fail
sooner or later.