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PRESENTEED BY

ABHISHEK SENGUPTAABHISHEK PANDEY

AHMAD FARUKHABUL KHAIR

ABDUL RUB SIDDIQUIAHMAD LATIF

ADNAN NAZIR

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The Nature

of Ethics

The inner-guiding moral principles,values, and beliefs that people use to analyzeor interpret a situation and then decide what

is the right or appropriate way to behave

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Ethical issues

for business

Product safety standards Advertising contents

Working environment

Unauthorized payments Employees privacy

Environmental issues

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The Nature

of Ethics

quandary people find themselves in when

they have to decide if they should act in away that might help another person even

though doing so might go against their ownself-interest

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6-14

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6

Ethical Problem

Ethical

Problem

Societys

Expectations

of Business

Ethics

Actual

Business

Ethics

1950s Early 2000sTime

Business Ethics:Today vs. Earlier Period

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Ethics is about field or domain of enquirywhile morality is the object of enquiry.Ethics or behavior accepted with in a groupis recorded as credos espoused value of

group/organization. When espoused valuebecome practiced values, then the group issaid to be ethical organization.

Ethical theories can be classified into threesubject areas:-

Meta ethics Normative ethics Applied ethics.

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Ethics of care is a normative ethical theoryThe basic belief of theory are:

1.All individuals are interdependent for

achieving their interests2. Those particularly vulnerable to our

choices and their outcomes deserve extraconsideration to be measured

3. It is necessary to attend to the contextualdetails of the situation

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It maintains that sound, balanced character,motivation and intentions is more importantthan actual conduct and its consequences

Three major types of virtue ethics theories-1.Individual Character Ethics

2.Work character ethics

3.Professional Character Ethics

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In an organisational context, utilitarianism

basically states that

It isthe most widely understood and commonlyapplied ethical theory.

Good is usually defined as the net benefits

that accrue to those parties affected by thechoice. Thus, most utilitarians hold theposition that moral choices must beevaluated by calculating the net benefits of

each available alternative action.

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One major school of thought,, focuses on the action that

has been taken, analysing it along the linesof whether the selected action producesmore good than bad consequences.

A second formulation, ,

looks at whether the option or choiceconforms to a rule that attempts tomaximize the overall utility.

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One distinctive understanding ofuniversalism in ethics is that ethicalprinciples are principles for everybody.They prescribe obligations for everybody,

define rights for everybody, list virtues foreverybody. The most minimal version ofethical universalism is a claim about theform of ethical principles or standards. It is

the claim that ethical principles hold for alland not merely for some, that is, foreverybody without exception.

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Concept of

Ethical

Universalism

According to the

Same standards of what is ethical and what is unethicalresonate with peoples of most societies regardless of

Local traditions

Cultural norms

Thus, common ethical standards can be used to judgeconduct of personnel at companies operating

in a variety of Country markets and

Cultural circumstances

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Examples of Universal

Ethical Principles or

Norms

Honesty

Trustworthiness

Treating people with dignity and respect

Respecting rights of others

Practicing the Golden Rule

Avoiding unnecessary harm to

Workers

Users of a companys product or service

Respecting the environment

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The First Principle of Justiceeach person is to have an equal right to the

most extensive basic liberty compatiblewith a similar liberty for others

The Second Principle of Justice

Social and economic inequalities are to bearranged

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Rights - Rights are claims that you deservesomething from someone or some group.

Rights can be legal, contractual, or moral.Rights are also categorized as positive andnegative. This categorization indicates thekind of claim and obligation that the rightentails.

Rights, duties, obligations, andresponsibilities can also be categorized asuniversal, prima facie or conditional -

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LAW:Rules created by a governing body of a

society to maintain harmony, stability and

justice in that societyETHICS:Developing a way of determining what values

ought to be- How we ought to act-embraces characteristics of honesty,fairness, compassion, integrity

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Society has instituted THE LAW that tells uscertain conduct is unacceptable and willadminister punishment

The law can not administer punishment forunethical behaviour BUT

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Issues in defying the nature of business ethics Individual character

-Religion

Personal moral development-Philosophy

Legal and regulatory concerns

-Sarbanes-oxley act, etc.

Issue' focused vs FRAMEWORK focused

Integrated,manegerial program tied toorganizational goals and objectives.

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Significance of cultural, economic,regulatory and ecological issues whileestablishing business in a foreign country-KFC IN INDIA 1995

Consequences of a misleading advertisingand falseadvertising

Issues involving affecting privacy of

employee(workplace surveillance)andemployer(whistle blowing)

Patents infringements NOKIA SUES APPLE.