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Application of VALUES & ETHICS in

Business

Organization

Individual

A Comprehensive Study

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Values( set of preferences) are said

to be the cause and Ethics effect.Ifone operates in a given instance

from a Value emotion within the

outward action will tend to beEthical.

Values & Ethics

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ETHICS

Oxford Advanced Learners Dictionarydefines the word ethics as moral principlethat govern or influence a persons

behavior. Ethics is thus a benchmark ofhuman behavior. The conduct of humanbeings is influenced either by the emotionsof life or the actions people perform indifferent situations. The coordination ofaction and emotions generates ethics.

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Ethics in Organizations

Key Terms Used

Ethics,Ethical,Unethical,CorporateValues',' Personal values', Value

statement', 'Ethical Framework of acompany etc.

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Value Statement of ITCITC's Core Values are aimed at developing a

customer-focused, high-performance organizationwhich creates value for all its stakeholders:

Trusteeship

As professional managers, we are conscious that ITChas been given to us in "trust" by all ourstakeholders. We will actualize stakeholder value andinterest on a long term sustainable basis.

Customer FocusWe are always customer focused and will deliver whatthe customer needs in terms of value, quality andsatisfaction.

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(Contd)Respect For People

We are result oriented, setting high performance standards forourselves as individuals and teams.

We will simultaneously respect and value people and uphold

humanness and human dignity.We acknowledge that every individual brings different

perspectives and capabilities to the team and that a strongteam is founded on a variety of perspectives.

We want individuals to dream, value differences, create andexperiment in pursuit of opportunities and achieve leadership

through teamwork.Excellence

We do what is right, do it well and win. We will strive forexcellence in whatever we do.

InnovationWe will constantly pursue newer and better processes, products,

services and management practices.Nation Orientation

We are aware of our responsibility to generate economic valuefor the Nation. In pursuit of our goals, we will make no

compromise in complying with applicable laws and regulationsat all levels

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SAIL (Steel Authority of India):

To be a respected world ClassCorporation and the leader inIndian steel business in

quality, productivity, profitabilityand customer satisfaction

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WIPRO:

The Spirit of Wipro is the core of Wipro the

Spirit is rooted in current reality, but it alsorepresents what Wipro aspires to be thusmaking itfuture active.

The Spirit is an indivisible synthesis of allthree statements.

Manifesting intensity to win,

Acting with sensitivityand being unyielding on integrityall the

time.

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Reliance Industries:Reliance believes that any business conduct can be

ethical only when it rests on the nine core values of

Honesty,

Integrity, Respect,

Fairness,

Purposefulness,

Trust, Responsibility,

Citizenship and

Caring.

Growth is care forgood health

Growth is care for

safety

Growth is care forthe environment

Growth is

conservation

Growth is betting onour people

Growth is thinking

beyond business

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INFOSYS TECHNOLOGIES:

To be a globallyrespected corporationthat provides best-of-breed businesssolutions, leveraging

technology, delivered bybest-in-class people.

To achieve ourobjectives in anenvironment of fairness,

honesty, and courtesytowards our clients,employees, vendors andsociety at large

Values

Customer Delight:

Leadership byExample:

Integrity andTransparency:

Fairness: Pursuit of

Excellence:

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NTPC:

A world classintegrated power major,powering Indiasgrowth, with increasingglobal presence

Develop and providereliable power, relatedproducts and services atcompetitive prices,integrating multipleenergy sources with

innovative and eco friendly technologiesand contribute tosociety"

Our Core Values(BCOMIT)

Business Ethics

Customer Focus

Organizational &professional Pride

Mutual Respect andTrust

Innovation andSpeed

Total Quality forExcellence

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Johnson & Johnson

High quality and prompt service atreasonable price with a view tomaking fair profit.

To respect individuality of employeeskeeping in mind their job security andmeans of fulfilling familyresponsibility.

Informal communication Just and ethical action

Encourage community service

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Ford Motor Company

Doing right thing for the

customer,people,environment andsociety

Providing superior returns to our

shareholders The customer is job 1

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IBM

Respect for individual

IBM anthem

Devotion to customers

Lifetime employment

Open door program.

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NIKE :Nike follows three mission statements to pursue thegoal. Climate mission statement. Community mission

statement and Considered mission statement.Nike

salvaged its image through such measures.

Climate mission statement :

Climate change is no longer What if but Whatnow? It is real and it is impacting theenvironment, the marketplace, and our supply

chain. We see greater constraints on naturalresources. More importantly, we see and agreewith the growing need to take immediateaction.

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Concepts behind thosestatements

Respect

Integrity

Excellence

Social Performance

Just & Ethical action

Activate self-esteem

Trusteeship

Concern for people

Refinery song

Human values

Purposefulness

Caring

Mutual respect &trust

Openness &learning

Credibility

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Ethics matters because it makes good business

sense to "do the right thing".

Additionally good corporate ethics results in:

Attracting better talent Retaining employees

Attracting new customers Retaining customers

A Positive effect on ROIPositive effect onCorporate Reputation

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Competitive Strategy and CSR

Research has shown that consumers give

preference to companies that adopt CSRpractices. According to the 2002 EdelmenStrategy Of Survey of Opinion Leaders,76% would switch to a company with

strong CSR practices, if price and qualityare equal to non-CSR competitors. In thesame survey, 75% surveyed reported theywould give a CSR company the benefit ofthe doubt if the company were subjectedto negative publicity.

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Individual Value System &Conflict

Ethics Through Unethicalty:

It is unethicalty when one entity

intentionally tries to gain at the expenseof another, or just to cause loss to

another without any gain ,while the otherentity is unaware of such intention or is

powerless to defend itself against it.

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Educating the Organization & theIndividual

Code of Conduct,

Cognitive Ethics,

Consciousness Ethics

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Vivekananda,Gandhi,Gita,PeterDrucker

Universal Ethical Principle For thesalvation of the Individual & thewelfare of the Society

Think poorest of the poor Lok sangraha Individual I dissolves

in Universal I

Conflict Resolution of Arjun Managing Oneself