Sources of business ethics

Sources of business ethics by Vijayalakshmi

1. Source of Business Ethics NAME OF THE STUDENT : N.vijaya laksmi Subject : business environment CLASS : I - MBA REGISTER NO : Ps6513 Topic : source of ethical standards SUBMITTED TO : L.M. Mahalakshmi , MBA.

2. INTRODUCTION Definition and Nature of Business Ethics Characteristics Ethical theories Causes of unethical behavior Ethical abuses Work Ethics Code of conduct Public good

3. DEFINITION According to Webster , " Ethics is the discipline dealing with what is good and bad and with moral duty and obligations " . • According to Philip Wheel Wright , " Ethics is a branch of philosophy which is the systematic study of selective choice of the standards of right and wrong and by which it may be ultimately directed "

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

5. Social attitude and ethics: - Standards that direct how members of a society should deal with one another in matters involving issues such as fairness , justice , poverty , and the rights of the individual. People behave ethically because they have certain values , beliefs , and norms

6. Competitive Pressures

7. Legal Environment It develops critical thinking skills . The study of legal reasoning , critical thinking skills , ethical norms , and schools of ethical thought that interact with the law . The study of the legal process and our present legal system , as well as alternative dispute resolution systems . The study of the administrative law process and the role of business people in that process . The study of selected areas of public and private law , consumer law , and environmental law. The examination of the international dimensions of the legal environment of law .

8. Code of Ethics INTEGRITY:- Maintain honesty and clear communication in the workplace . TEAMWORK:- Work together to get the job done . OBJECTIVITY:- Don't make career decisions based on whom you like best . CONFIDENTIALITY:- Maintain clients ' confidence at all times . GROWTH:- Always pursue professional growth .

9. Sources of Ethics Occupational Ethics : - –Standards that direct how members of a profession , trade should conduct themselves when performing work-related activities . –Medical & legal ethics . Individual Ethics : - –Personal standards and values that determine how people view their responsibilities to other people and groups. –How they should act in situations when their own self - interests are at risk .

10. Sources of Ethics Organizational Ethics : - –Guiding practices and beliefs through which a particular company and its managers view their responsibility toward their stakeholders . –Top managers play a crucial role in determining a company's ethics . Societal ( Social ) Ethics : - –Standards that direct how members of a society should deal with one another in matters involving issues such as fairness , justice , poverty , and the rights of the individual . –People behave ethically because they have certain values , beliefs , and norms

11. BUSINESS ETHICS MEANING Business Ethics refers to the application of ethics to business To be more specific , business ethics is the study of good and evil , right and wrong and just and unjust actions of businessmen It may be defined as a set of moral standards which people owning and managing business is expected to follow . These standards are mean to govern the conduct of business persons .

12. CONCLUSION " Ethics are important not only in business but in all aspects of life because it is an essential part of the foundation on which of a civilized society is build . A business or society that lacks ethical principles is bound to fail sooner or later .

13. THANK YOU