Business Ethics - A Brief Overview by Harsimran Singh

In today’s world, conducting business is a lot more than mere trading / financial transactions. Business environment today is very dynamic where political, environmental and socio-economic conditions play a major role in determining the success parameters of a business entity apart from the laws of the land. Ethical conduct in business thus helps prevent legal issues, avoid regulatory problems, promotes fairness & transparency, and can boost employee morale and customer loyalty. Hence, fostering good business ethics is crucial as it ensures transparency and builds trust, improves reputation, and can lead to increased long-term success and sustainability for businesses.
However, business ethics is difficult to understand due to the inherent ambiguity of moral principles, the presence of conflicting values and perspectives, and the complexities of real-world business situations. As clear and universally accepted guidelines are not available, it’s may sometimes become challenging to ensure business ethic in true spirit.
To understand the basic aspect of this dynamic concept, this brief presentation has been shared.

1. A Brief Overview
Harsimran Singh, IRSE
Chief Vigilance Officer
Hindustan Copper Ltd

2. What is Business Ethics?
•
Involves moral principles guiding business
decisions and behavior.
•
Study of right and wrong conduct in a
business context.
These promote fairness, transparency,
responsibility, and trust.

3. Key Principles of Ethical Business
•
Integrity & Honesty
•
Transparency & Accountability
•
Fairness & Justice
•
Respect for Employees & Human Rights
•
Corporate Social Responsibility (CSR)
•
Healthy Customer & Supplier Relations
•
Environmental Responsibility
•
Compliance with Laws & Regulations

4. Benefits of Ethical Practices
•
Buildtrust with stakeholders
•
Boostemployee morale
•
Reduce legal risks
•
Enhance brand reputation
•
Promote long-term profitability

5. Case Study –Enron Scandal
•
Filed for bankruptcy in 2001 due to
accounting fraud.
•
Shareholders lost billionswhencompany’s
stock crashed.
This big incidence globally high-lighted the
need for transparency and strong governance.

6. Case Study –Merck & Mectizan
•
Donated Mectizanfor river blindness and
elephantiasis.
•
Helped eliminate diseases in several
countries.
This is an exampleof ethical responsibility
in healthcare.

7. Ethical Dilemmas in Business
•
Profit vs. People
•
Transparency vs. Reputation
•
Environmental Cost vs.
Responsibility
•
Data Privacy vs. Marketing

8. Rationalization – Justifying unethical acts
Pressure/Motivation – Internal/external stress
Opportunity – Weak controls or oversight

9. Conclusion
•
Ethics is vital for sustainability and reputation.
•
Unethical behavior may offer short-term gain
but leads to long-term loss.
•
Ethical companies win trust, loyalty, and
lasting successby creating good environment
with proper oversight.

10. Bonus Video
•
Limit of Greed
•
Watch here:
https://www.youtube.com/watch?
v=P5_Msrdg3Hk

11. ध?यवाद
THANK YOU
ध?यवाद
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