Values and Ethics in life for self improvement

Values and Ethics in Life

1. VALUE & ETHICS

2. CONTENTS 1 Definition of Value & Ethics 2 Difference between Value & Ethics 3 Types of Value & Ethics 4 Common Unethical Acts

3. Definition of Value Theodore Sturgeon’s in his Book “More Than Human” defined MORAL Values as Society’s code for individual survival A value is a belief, a mission, or a philosophy that is really meaningful to the organisation It can be termed as the science of character of a person expressed as right or wrong conduct or action Values release direct energy, motivate people, generate profits and promote non-stop expansion

4. Definition of Ethics The word Ethics is derived from Greek word ‘Ethicos’ meaning Character or Manners According to Theodore Sturgeon Ethics is an individual’s code for society’s survival It is the science of character of a person expressed as right or wrong conduct or action It is a set of moral principles prescribing code, explains what is good & right or bad & wrong

5. Difference Value Ethics Society specific Individual specific It’ s principles are subjective It’s principles are objective Science of ethics Science of correct attitude of a person It’s rules are directed towards appropriateness for the society It tells the correct attitude of a person to own self, others & God

6. Types Moral Value Instrumental Value Terminal Value Descriptive Normative Analytic Value Ethics

7. Common Unethical Acts Misrepresenting hours worked Employees telling lies to supervisors Management telling lies to employees, customers, vendors or the public Misuse of organizational assets Falsifying records

8. Common Unethical Acts f) Sexual harassment g) Stealing/Theft h) Accepting or giving bribes Withholding necessary information from employees, customers, vendors or public j) Abusive or intimidating behavior k) Drug or alcohol abuse

9. END OF PART 1

10. VALUE & ETHICS

11. CONTENTS 1 Business Ethics & its Need 2 Value and Ethics in Banking 3 Objective of Banking Ethics 4 Commitments in Banking Ethics

12. Business Ethics Definition It comprises principles and standards that guide behavior in the world of business Business Ethics can be described as the systematic study of moral (ethical) matters pertaining to business, industry or related activities, institutions, or practices and beliefs. It is the systematic handling of values in business and industry

13. Business Ethics It contains the following: Avoid breaking the criminal law in one’s work related activity Avoid action that may result in civil suit Avoid actions that are bad for the image of business entity Protect confidential information, never use it for your own benefit Treat your colleagues fairly and respectfully and respect customer

14. Ethical Need in Business It is necessary to earn money but not at the cost of ethics. Hence the need of ethics is due to the following reasons: LEGAL IMPERATIVE – Penalties attached to wrongdoing SOCIETAL IMPERATIVE – Reputation PRAGMATIC IMPERATIVE – Good for business, easier to attract business, joint ventures, and direct foreign investment CHANGE IMPERATIVE – Enables one to act through new choices where no policies and procedures are in place MULTINATIONAL IMPERATIVE – Business across borders GLOBAL IMPERATIVE – Special interest groups and media

15. Value and Ethics in Banking In today’s competitive scenario, every bank wants to become the market leader, capture maximum market share and have maximum customer base. As Banks deal with money, Public & Govt. have more trust on Banks. Hence, Value & Ethics play important role for Banks: Value & Ethics is a voluntary Code, which sets minimum standards of practices to be followed by banks while they are dealing with individual customers It provides protection to customers and explains how banks are expected to deal with them for their day-to-day operations

16. Universal Values for an Ethical Banking Industry Integrity, Trust & Transparency Reliability, Accountability & Responsibility Honesty & Truthfulness Consistency & Fairness

17. Objectives of Banking Ethics To promote good and fair banking practices by setting minimum standards in dealing with customers To increase transparency so that customers can have a better understanding of what they can reasonably expect from Banks To encourage market forces, through competition, to achieve higher operating standards To promote a fair and cordial relationship between customers and their bank To foster confidence in the banking system

18. Commitments in Banking Ethics To act Fairly and Reasonably in all our dealings To help customer to understand how our financial Products and Services work To help customers how to they can operate their accounts in banks To deal Quickly and Sympathetically with things that go wrong To treat all customer’s Personal Information as Private and Confidential To adopt and practice a Non - Discrimination Policy

19. Providing minimum banking facilities of receipt and payment of cash/ cheques at the bank’s counter Meeting the commitments and standards in this Code, for the products and services we offer, and the procedures and practices we follow Making sure our products and services meet relevant laws and regulations in letter and spirit Ensuring that our dealings with customer rest on ethical principles of integrity and transparency Operating secure and reliable banking and payment systems Commitments in Banking Ethics

20. Conclusion Banks run on public trust which, in turn, is a function of ethical principles and moral values. The world is witness to numerous bank failures, small and large, which could not withstand the rigor of public trust Banks are back bone of any country’s economy. Banks directly control economical condition and drive development of a country, so there is a need to have strong banking system which is only possible with the practice of Value & Ethics Value and Ethics are not a religion. They are logical, sensible principles of good conduct that we need for a peaceful society Success will come and go but Honesty and Integrity will last forever

21. THANKS