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BUSINESS ETHICS

THREE PRINCIPLES OF BUSINESS ETHICS

Standardization

Workable

Driven form the top

TYPES OF ETHICSTransactional ethics- Man is a social animal. He has to act and react with others through different transactions. The practices of ethics in all these transactions is called as transactional ethics

Participatory ethics- Guided by common good, all the participations follow some ethical practices.

Recognition ethics- As human beings, people are endowed with the ability to understand the problems of others. This quality leads to the recognition of individuals, institutions and societies, conflicting situations can be solved by the correct recognition of the situation.

Eg: The strong is helping the weak

The learned is helping the lesser learned.

The experienced is helping the new entract

METHODOLOGYGeneral

LeadershipPerceived / fairnessEmployee authority structureReward systemsEthics as a topic of conversation in the organizationOriganisal focus that communication care for the employees and the community

METHODOLOGY

In Business

Top management attitudes

Opening up corporate culture to broad ethical standards

Organisational changes that helps employees at all levels

Building ethical safeguards into the company

- Codes of ethics

- Ethics committees

- Ethics training programs

- Ethics audits

METHODOLOGY

Others……..

Corporate culture

Environment

METHODOLOGY

Business performance

Public expectations

Prevents social harm

Protects itself from abuses by employees and other firms

Preserves the dignity and integrity of individuals who work in business

IMPORTANCES OF ETHICS

Social concern

Social responsibility

Avoidance of whistle – blowing

Value in business

Improves organizational effectiveness

Healthy competition

Benefit for stakeholders