Value Proposition canvas- Customer needs and pains
P2 ch7principlesofbusinessethics
1. IPCC Paper 2: Business Laws, Ethics &
Communications Chapter -7
CA. Dharmendra Madaan
2. 1 • Ethics
2 • Business Ethics
3 • Distinction between Ethics & Morality
4 • Social Sins by Mahatma Gandhi
5 • Ethical Dilemma
6 • Benefits of Business Ethics
5. Vision of one’s own self in all beings
An obligation to consider not only our own personal well-
being, but also that of others and of human society as a whole.
To become more and more selfless.
6. Ethikos - Character
The essence of values and habits of a
person or group.
It covers the analysis and employment of
concepts such as right and wrong, good
and evil, and acting with responsibility.
7. Ethics relates to what is good or bad, and
having to do with moral duty and obligation.
Principles of conduct governing an
individual or a group.
9. Application of everyday moral or ethical norms to the
business
Acting with an awareness of how entity’s products
and services, and the actions of its employees, can
affect its stakeholders and society as a whole
Developing codes of conduct for doing business in an
ethical manner
10. Formalised rules and standards
that describe what is expected from employees.
Most Widespread Means
by which companies communicate their ethical
standards to the employees or professionals.
11.
12. Ethics
The root word for ETHICS is the Greek
ETHIKOS meaning CHARACTER.
Character is a personal attribute.
People have character.
Ethics are accepted because they follow
from personally accepted principles.
Ethics has a much wider scope.
Morality
MORAL is Latin "MOS" meaning
CUSTOM.
Custom is defined by a group over
time.
Societies have custom.
Morals are accepted from an authority
(cultural, religious, etc.)
Morals work on a smaller scale than
ethics,
13.
14. Worship without sacrifice
Science without humanity
Pleasure without Conscience
Knowledge without Character
Commerce without Morality
Wealth without work
Politics without Principles
16. An ethical dilemma is a
situation where the decision
maker has to make a choice
from various alternatives in
which more than one option
seem right. Ethical dilemma
faced by managers are often
highly complex with no clear
guidelines.
An ethical issue is an
identifiable problem,
situation, or opportunity that
requires a person to choose
from among several actions
that may be evaluated as
ethical or unethical.
17. 1
• Define the problem clearly.
2
• How would you define the problem if you stood
on the other side of the fence?
3
• How did the situation arise?
4
• To whom are you loyal as a person and as a
member of the organisation?
18. 5
• What is your intention in making this decision?
6
• How does this intention compare with the
probable results?
7
• Whom could your decision or action injure?
8
• Can you discuss the problem with the affected
parties before you make your decision?
19. 9
• Are you confident that your position will be as valid over a long period?
10
• Could you disclose without any doubt your decision or action to your
boss, your CEO, the Board of Directors, your family, society as a whole?
11
• What is the symbolic potential of your action if understood?
Misunderstood?
12
• Under what conditions would you allow exceptions to your stand?
24. Better Corporate Reputation & brand image
Reduced employees turnover
Reduction in cost
Easy availability of finance
Easier acceptance of new products and services
