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BusinessBusiness Ethics andEthics and

Social ResponsibilitySocial Responsibility

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Business Ethics

The value of what should bedone and what should not bedone from the business point

of view

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Ethical issues for business

Product safety standards

Advertising contents

Working environmentUnauthorized payments

Employees privacy

Environmental issues

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Genesis of Ethics

Ethics is a Greek ord! it means "haracteror manners#

Ethics is sub$ective hile morality isob$ective#

Ethics is about sense of belongingness tosociety of business# %ormed ith a limitedvision for economic generation but shouldresolve conflict ith society by servicing

the community#

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&' of Ethics#

UNITARIAN VIEW OF ETHICS

Business is a part of moral structure and moralethics#

SEPARATISTS VIEWS OF ETHICS(orality and ethics has no role in business#)ociety and la deals ith ethics and morality#

INTEGRATED VIEW OF ETHICS

Ethical behavior and business should beintegrated in a ne era called Business Ethics#

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*ntegration +ie of Ethics#

Business#

(orality

, ethics

BUSINESS ETHICS(arket

system

G-+E./(E/01AW

)-"*E02

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Ethical "onsciousness

)tage 3 corporate citizenship

)tage 4

)take holder concept

)tage 5 Profit (a6imization in

the long term

)tage & Profit (a6imization*n the short term#

)tage 7 Anything for Profit

)tage 8 9ungle 1a

Ethical standards

+ary beteen cultures

And countries#

(ore evident

%rom :amongst

Entrepreneurs:

"orporations#

1ong term profitability and

Attractiveness of -rgn

*s key tocompetitive strategy

Both attractiveness , competitive

Position can be shaped

i#e# challenging and e6citing

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Ethics in Business

-+E.0 approach

E6ternal theft

Bribery etc#!

"-+E.0 approach

*nternal (erger , Ac;uisitions#

*nsider 0rading#

Ethics

'ilemma#< Pricing! advertising! promotion!

Working condition! customer service!

Work force reduction=s !environment

"ommunity relations! supplier relations#

*mportant of trust >empathy? maturity in relationship

0o domains

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Ethics and morality

Ethics is about field or domain of en;uiry hilemorality is the ob$ect of en;uiry# Ethics or

behavior accepted ith in a group is recorded ascredos@ espoused value of group:-rgn# Whenespoused value become practiced values! then thegroup is said to be ethical -rganisation#

Ethical theories can be classified into three sub$ectareas