IMRAN OMER IMRAN OMER PhD Finance (In Progress - SZABIST) MS (Finance) – Gold Medalist & Chancellor Cap of Honor Award MA (Economics) MBA (Finance) – Gold Medalist
Transcript
1. IMRAN OMERIMRAN OMER PhD Finance (In Progress - SZABIST) MS
(Finance) Gold Medalist & Chancellor Cap of Honor Award MA
(Economics) MBA (Finance) Gold Medalist
2. What are Ethics???
3. Definition of Ethics Ethics may be defined as the set of
moral principles that distinguish what is right from what is wrong.
Ethics is: the study of morality
4. Ethics has a two fold objectives: it evaluates human
practices by calling upon moral standards; also it may give advice
on how to act morally in a given situation. Sometimes ethics is
used synonymously with morality. An action, which is morally right,
is also called an ethical one. Codes of morality are called ethical
codes. Business ethics can also be defined as business
morality.
5. Ethics: What Does It Really Mean? Definitions Ethics
involves a discipline that examines good or bad practices within
the context of a moral duty. Moral conduct is behavior that is
right or wrong or morality can be defined as the standards that an
individual or group has about what is right and wrong.
6. Two Key Branches of Ethics Descriptive ethics involves
describing, characterizing and studying morality. What is An
investigation that attempts to describe or explain the world
without reaching any conclusion about whether the world is as it
should be. Normative ethics involves supplying and justifying moral
systems. What should be An investigation that attempts to reach to
conclusions about what things are good or bad or about what actions
are right or wrong.
7. Religion and Ethics Muslims are required to learn Islamic
Knowledge. It is divided into two branches: 1. Religious knowledge
and 2. Scientific knowledge. The scientific knowledge is called
Wisdom (Hikmat).
8. Our Prophet sall-Allhu alaihi wa sallam said, Wisdom is the
lost property of a Muslim. He should pick it up wherever he may
find it.
9. Religious Knowledge Religious knowledge is made up of twenty
sub-branches, eight of which contain teachings of a higher level
and the remaining twelve consist of teachings of a subsidiary
nature. One of the teachings of a higher level deals with
ethics.
10. A Muslim who has good morals and is advanced in the
scientific knowledge of his time is called a civil or a progressive
Muslim. Alternately, a person who is advanced in scientific
knowledge and has established basic industries, and yet who has
poor morals is called a tyrant, a bandit(thief, robber), or a
dictator. Scientific Knowledge
11. Civilization Civilization means building cities and serving
human beings. This can be accomplished through scientific
knowledge, arts, and beautiful morals. In short, when the
scientific knowledge and arts are accompanied with beautiful
morals, it is called civilization.
12. A civilized person uses scientific knowledge and arts for
serving humanity. Alternatively, tyrant use them for torturing. We
can see that a true Muslim is a progressive person. Unbelievers are
retrogressive, and miserable/unhappy sad/depressed people. Peoples
living in peace and comfort is only possible through ethics of
Islam.
13. Business Ethics Business Ethics is the branch of ethics
that examines ethical rules and principles within a commercial
context; the various moral or ethical problems that can arise in a
business setting; and any special duties or obligations that apply
to persons engaged in commerce.
14. Generally speaking, business ethics is concerned with the
study of what is good and bad, right and wrong, and just and unjust
in business.
15. Significance of Business Ethics Significance and importance
of business ethics can be enhanced by comparing it with the
foundation of a building. It plays the same vital role just like
the foundation & pillars play in constructing & designing a
building skeleton. As no one can imagine a building without
foundation and pillars, in the same way no business without ethics
along with a touch of honesty and integrity.
16. Every professional who conducts a business always needs a
guideline, comprises on rules & principles. These ethics are
designed differently keeping in mind the core values and standards
of the respective organization.
17. Every member or employee is bound to follow the designed
code of ethics with sincerity, honesty, and unity so that the
organization can achieve the required goals /profit in
business.
18. Webster Collegiate Dictionary defines ethics in business or
business ethics as it is often called, is the application of the
discipline, principles, and theories of ethics to the
organizational context.
19. It applies to all aspects of business conduct and is
relevant to the conduct of individual and entire organizations. So,
business ethics is the behavior that a business adheres to in its
daily dealing with the world. They apply not only to how the
business interacts with the world at large, but also to their one
to one dealing with a single customer.
20. Discussion of Cases of Business Ethics 1. B.F Good Rich
Case (Breaks Manufacturer). 2. American energy company accounting
case (Enron). 3. Ivermectin Medicine River Blindness disease.