BECG-UNIT 2 VALUES,NORMS ETHICS CG,prof.kanchan.pptx

Study material for management students

1. BECG UNIT 2 VALUES, NORME, ETHICS AND CORPORATE GOVERNANCE

2. What are the values in business ethics? Business ethics is an evolving topic. Generally, there are about 12 ethical principles: honesty, fairness, leadership, integrity, compassion, respect, responsibility, loyalty, law-abiding, transparency, and environmental concerns . Values are basic and fundamental beliefs that guide or motivate attitudes or actions . They help us to determine what is important to us. Ethics is concerned with human actions, and the choice of those actions. Ethics evaluates those actions, and the values that underlie them.

3. What is norms in business ethics? Ethical norms provide guidance for all organizations for behaving good and keeping away from bad behaviours promotes ethical behaviours in organizations, sets the stage for coherent working environment which contains justice, honesty, neutrality, and responsibility. Ethical behaviour includes honesty, fairness, integrity and understanding . There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics

4. What are ethical beliefs and standards? Ethical standards also include those that enjoin virtues of honesty, compassion, and loyalty . And, ethical standards include standards relating to rights, such as the right to life, the right to freedom from injury, and the right to privacy. EX- Frequently listed moral values include: acceptance; charity; compassion; cooperation; courage; dependability; due regard to the feelings, rights, traditions and wishes of others; empathy; equality; fairness; fidelity; forgiveness; generosity; giving pleasure; good sportsmanship; gratitude; hard work; humility

5. VALUES , NORMS AND BELIEFS

6. ETHICAL CODE

7. MANAGING ETHICS

8. MANAGING ETHICS Compliance with Laws and regulation Customer respecting management Shareholder oriented management Employee respecting management Employee compliance management Supplier growth management Social responsibility management

9. Ethical behaviour is characterized by honesty, fairness and equity in interpersonal, professional and academic relationships and in research and scholarly activities . Ethical behaviour respects the dignity, diversity and rights of individuals and groups of people. Ethical Activities

10. Ethical Activities corporate responsibility personal responsibility social responsibility loyalty, fairness respect, trustworthiness technology ethics

11. What are management ethics? Managerial ethics is a set of principles and rules dictated by upper management that define what is right and what is wrong in an organization . It is the guideline that helps direct a lower manager's decisions in the scope of his or her job when a conflict of values is presented. Ethical management is the practice of being honest and virtuous in a role as a manager . Management training will help you with this and there are several responsibilities and obligations of an ethical manager, including setting a good example, holding everyone to the same standard, and making expectations clear

12. Ethical Dilemmas An ethical dilemma is a problem in the decision-making process between two possible options, neither of which is absolutely acceptable from an ethical perspective. Although we face many ethical and moral problems in our lives, most of them come with relatively straightforward solutions. False accounting, sexual harassment, data privacy, nepotism, discrimination —these are just some of the ethical dilemmas that happen in today's workplace. Many business owners and managers will deal with ethical issues at some point in their career

13. Some examples of ethical dilemma include: Taking credit for others’ work Offering a client a worse product for your own profit Utilizing inside knowledge for your own profit

14. Whistle Blowing Whistleblowing is where workers report misconduct, most often seen at work, in order to protect the public . Whistle blowers can be employees, former employees, trainees, agency workers or members of Limited Liability Partnerships. Whistle blowing means calling attention to wrongdoing that is occurring within an organization . The Government Accountability Project lists four ways to blow the whistle: reporting wrongdoing or a violation of the law to the proper authorities. such as a supervisor, a hotline or an Inspector General

15. Example Whistle Blowing The most common examples are price fixing, over-billing or billing for services not performed, concealing safety concerns or violations, and false certifications by educational institutions or certifying agencies . There are particularly severe repercussions for those who commit fraud against the government.

16. THANK YOU Prof. KANCHAN KUMARI