PRESENTATION ON

“ETHICAL DILEMMA”

PRESENTED BY: JV’N MONIKA

KUMAWAT JV’N NEAH JAIN

JV’N PRIYA GATTANI

WHAT ARE ETHICS?

Ethics can be defined broadly as a set of moral principles or values.

Each of us has such a set of values. We may or may not have considered

them explicitly. Ethics are principles based on doing the

right thing. They are the moral values by which an individual or business operates.

In theory, a business or individual can act ethically and still attain ultimate success. A history of doing the right thing can be used as a selling point to heighten a person's or organization's reputation in the community. Not only are ethics morally valued, they are backed by legal repercussions for failure to act within certain guidelines.

CONTD….

Ethics are principles based on doing the right thing. They are the moral values by which an individual or business operates. In theory, a business or individual can act ethically and still attain ultimate success. A history of doing the right thing can be used as a selling point to heighten a person's or organization's reputation in the community. Not only are ethics morally valued, they are backed by legal repercussions for failure to act within certain guidelines.

WHAT IS ETHICAL DILEMMA

“Ethical dilemmas, also known as moral dilemmas, have been a problem for ethical theorists as far back as Plato. An ethical dilemma is a situation wherein moral precepts or ethical obligations conflict in such a way that any possible resolution to the dilemma is morally intolerable. In other words, an ethical dilemma is any situation in which guiding moral principles cannot determine which course of action is right or wrong.”

ETHICAL DILEMMAS

An ethical dilemma is a situation a person faces in which a decision must be made about appropriate behavior.

Ethical dilemmas, also known as moral dilemmas, have been a problem for ethical theorists as far back as Plato. An ethical dilemma is a situation wherein moral precepts or ethical obligations conflict in such a way that any possible resolution to the dilemma is morally intolerable. In other words, an ethical dilemma is any situation in which guiding moral principles cannot determine which course of action is right or wrong.

EXAMPLE…………. example of an ethical dilemma involves professional

ethics versus the best care of your child: Alan works in the claims department of a major

hospital. Paperwork on a recent admission shows that a traumatic mugging caused the patient to require an adjustment in the medication she is prescribed to control anxiety and mood swings. Alan is struck by the patient’s unusual last name and upon checking her employment information realizes she is one of his daughter’s grade school teachers. Alan’s daughter seems very happy in her school and he cannot violate patient confidentiality by informing the school of a teacher’s mental illness but he is not comfortable with a potentially unstable person in a position of influence and supervision over his eight year old daughter.

EXAMPLE OF ETHICAL DELIMMAS IN BUSINESS

Questions arising from moral dilemmas and the proper course of action trouble everyone, from police officers to judges, firefighters and business owners. In business, in particular, ethics may prove a trouble barrier.

The acquisition of money begets power and responsibilities that are not always clear-cut and definitive. However, sometimes those who are in power do not realize the ethical implications of their decisions and actions.

RESOLVING ETHICAL DILEMMAS 1 Obtain the relevant facts.2. Identify the ethical issues

from the facts.3. Determine who is

affected.4. Identify the alternatives

available to the person who must resolve the dilemma.

5. Identify the likely consequence

of each alternative.6. Decide the appropriate

action.

FINANCE MANAGER ETHICS

The ethics of a finance manager should be above approach. This includes more than just acting in an honest, above-board manner.

It means establishing boundaries that prevent professional and personal interests from appearing to conflict with the interest of the employer.

A finance manager must provide competent, accurate and timely information that fairly presents any potential disclosure issues, such as legal ramifications.

The manager is also ethically responsible for protecting the confidentiality of the employer and staying within the boundaries of law.

CONTINUE....... Maintain accurate books and records that reflect the

U.S. Posta Services financial information; Maintain disclosure controls and procedures that cause

material information to be made known to management; Maintain internal controls and procedures for financial

reporting to provide reasonable assurances that the U.S. Postal Services financial statements are fairly presented in conformity with generally accepted accounting principles;

Prepare financial statements in accordance with generally accepted accounting principles and provide financial information that fairly presents in all material respects the financial condition, results of operations and cash flows of the U.S. Postal Service; and

Otherwise provide full, fair, accurate, timely and understandable disclosures in periodic reports and other financial disclosures the U.S. Postal Service files with, or submits to, the Postal Regulatory Commission or otherwise makes available to the public.

CONTD….. The ethics of a finance manager should be

above approach. This includes more than just acting in an honest, above-board manner. It means establishing boundaries that prevent professional and personal interests from appearing to conflict with the interest of the employer. A finance manager must provide competent, accurate and timely information that fairly presents any potential disclosure issues, such as legal ramifications. The manager is also ethically responsible for protecting the confidentiality of the employer and staying within the boundaries of law.

LEGAL ISSUES Some laws are specifically

designed to address unethical actions of finance managers.

For example, if a finance manager is aware of business activity that will affect a stock price and uses that information to buy or sell stocks for financial again, he has broken a trust with his employer and broken laws established by the Securities and Exchange Commission (SEC). A finance manager who is aware that his company may be breaking the law may be held legally responsible for a crime.

BALANCING ACT

The dilemma faced by many finance managers comes in balancing the need to act ethically while fulfilling the needs of the employer.

The employer's ultimate goal is to maximize earnings, and the drive to make money may cause an employee to act unethically.

If a manager believes his company may have crossed an ethical line, his first step should be to take it up with his employer. If he feels the actions warrant legal intervention, he should do so without fear of repercussion.

THE RESPONSIBILITIES OF GOOD MANAGERS IN MAKING ETHICAL DECISIONS

1.Learn how to spot ethical issues

2.Understand how potential actions and decisions affect others

3.Clarify company policy, code of ethics provisions, and existing laws

4.Use ethical reasoning to evaluate alternative courses of action

5.Double-check your decision before taking action.

CASE STUDY ON KFC….. The case highlights the ethical issues involved in Kentucky

Fried Chicken's (KFC) business operations in India. KFC entered India in 1995 and has been in midst of controversies since then. The regulatory authorities found that KFC's chickens did not adhere to the Prevention of Food Adulteration Act, 1954. Chickens contained nearly three times more monosodium glutamate (popularly known as MSG, a flavor enhancing ingredient) as allowed by the Act. Since the late 1990s, KFC faced severe protests by People for Ethical Treatment of Animals (PETA), an animal rights protection organization. PETA accused KFC of cruelty towards chickens and released a video tape showing the ill-treatment of birds in KFC's poultry farms.

However, undeterred by the protests by PETA and other animal rights organizations, KFC planned a massive expansion program in India.

ISSUES……

» Understand the significance of cultural, economic, regulatory and ecological issues while establishing business in a foreign country

» Appreciate the need for protecting animal rights in developed and developing countries like India

» Understand the importance of ethics in doing business

» Examine the reasons for protests of PETA

» Identify solutions for KFC's problems in India

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