Business ethics and values

Business environment

1. BUSINESS ETHICS AND VALUES PRESENTED BY:- MAHERUKH JAHAN

2. CONTENTS CONCEPT AND NATURE OF BUSINESS ETHICS ELEMENTS OF BUSINESS ETHICS LEVELS OF BUSINESS ETHICS SOURCES OF ETHICAL STANDARDS NEEDS FOR ETHICS IN BUSINESS FACTORS GOVERNING BUSINESS ETHICS DEVELOPOING A CORPORATE ETHICAL PROGRAMME BENEFITS OF ETHICAL CODES MODELS OF BUSINESS CONDUCT CONCEPT OF CORPORATE VALUES INPORTANCE OF VALUES IN BUSINESS CASE STUDY BIBLIOGRAPHY

3. ETHICS:- IT IS DERIVED FROM THE GREEK WORD ‘ETHOS’ WHICH MEANS CHARACTER OR A PERSON’S FUNDAMENTAL ORIENTATION TOWARDS LIFE. CONCEPT OF BUSINESS ETHICS :- According to W.H.Shaw, “Business ethics is the study of what constitutes right or wrong, good or bad human conduct in a business context.” NATURE OF BUSINESS ETHICS:- The main characteristics of business ethics are as follows: 1. It is important in all types of business- large or small, manufacturing or service. 2. It is above law. It requires behavior which is socially desirable even if not legally. 3. It is dynamic term and may change over time.

4. ELEMENTS OF BUSINESS ETHICS Main elements of business ethics are as follows:- VALUES : Values are the moral beliefs held by an individual or organisation and a society. RIGHTS : Rights are the claims of the individual or organisation. DUTIES : Duties are the obligation of a person or an organisation .

5. LEVELS OF BUSINESS ETHICS :- Societal : At this level, question about the basic institutions in a society. Stakeholders: This level is concerned with relations between a business enterprise and its stakeholders such as employees, customers, suppliers. Internal Policy : At this level, relations between an organisation and its employees are analysed. Personal : Here questions about how people should treat one another within organisation.

6. SOURCES OF ETHICAL STANDARD:- Societal Attitudes Competitive Pressures Legal Environment Code of Ethics

7. Need for Ethics in Business : A business executive must take into consideration the moral and social considerations because these are the real motivating factors. When an organization fails to behave in accordance with the social expectations, it may lose its image and market share. A business manager is expected at serve as a trustee of various social groups. As the trustee, he must observe the ethical values of the society.

8. Factors Governing Business Ethics: Value Forming Institutions Organisational Goals Work and Career Superior Peers and Colleagues Professional Codes

9. Developing a Corporate Ethical Programme : The Management Commitment Ethical Codes Communication System Enforcement

10. BENEFITS OF ETHICAL CODES:- Customers Employees Company Industry Society

11. Models of Business Conduct The Austre Model The Household Model The Vendor Model The Investment Model The Civic Model The Artistic Model

12. Concept of Corporate Values The moral beliefs or convictions that guide judgement and action in different situations. Influence the objectives and priorities of corporate managers.

13. Importance of Values in Business – Corporate Culture Ends Means Chain Guides to Action Objective Standards Social Responsibility

14. CASE STUDY

15. BIBLIOGRAPHY Essentials of BUSINESS ENVIRONMENT by- Dr C.B.Gupta Case study www.icmrindia.org%2Fcasestudies%2Fcatalogue%2FBusiness%2520Ethics%2FKFC% THANKYOU!