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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