Ethical Aspects Of Business

Synopsis
1.Introduction 2.Value & Ethics 3.Attitude & Beliefs In Ethics 4.Indian Management 5.Framework Of Normative Ethics 6.Ethics and Decision Making 7.Ethics In Social Responsibility 8.Conclusion

What is Ethics?
Analysis of concepts such as "ought"

"right" and "wrong", "good" and "bad", duty, responsibility, etc. moral acts.

Inquiry into nature of morality or

The search for the morally good life.

What is Business Ethics ?

Meaning Aspects of Business Ethics Relationship between Ethics &

Business

VALUES & ETHICS

Meaning

Business is driven by Values. It determines What business people do ? How others react ?

Features of Value

Descriptive Normative Analytical

Contd.
Types Of Values

Cultural Norms Moral Imperatives

Managerial Values

Pragmatic Moralistic Affective

Implication Of Values

ATTITUDE & BELIEFS In ETHICS

Meaning Relationship between Attitude & Ethics Relationship between Beliefs & Ethics

Indian Management
A rth a sa stra
O SH O V e d a n ti / Psych o -sp i tu a l c ri

C u l ra lN a ti n a l sm tu o i

Li o n s o b o M a j r I d i n i te l e ctu a l Tra d i e ra ti n fro m O p p re ssi n o n a n l ti

C o n fl e n ci u sm C om m oni sm G andhi n a C ya d V a d a ( M u l p l Pe rsp e cti ) ti e ve

Importance of Indian Management

Each tradition has positive and negative

aspects.
Antagonism exists between them Provides conflicting view points. Are historically routed Still can contribute something.

Arthasastra

i. The pursuit of Artha is an important goal of human existance. ii. Its an material well being specially wealth. iii.It recognizes the existanceof law of fish known as Matsa Nyaya. iv.Kautilya is the main architect. v. It throws idea on how to develop good subordinates & contains a number of management ideas.

Vedantic / Psycho-spiritual

i. Deals with divinity oriented view of human nature. ii. Ramakrishna Paramahamsa & Vivekananda, in the modern age are the contributors of psycho philosophy. iii.As per Vivekananda, each soul is potentially divine.

Liberation from Oppression

i. Set free from hardship. ii. Survival of the weakest and survival of all life forms (human or nonhuman) is the key concern iii. Here life means liberation from exploitation.

Syad Vada (Multiple Perspective

i. A theory of relativity of knowledge ii. As per Jain tradition, SYAD means viewing from a particular view point that is also related to other view points is essential for arriving at final conclusion. iii. E.g. elephant and a blind man. ("Maybe you have your reasons.). iv. In Jainism, it is explained that truth can be stated in seven different ways. v. It teaches us to be tolerant towards others for their viewpoints. vi. This allows us to live in harmony with the people of different thinking. vii.This is known as the Syadvada

Gandhian

i. Based on the theory of contentment. ii. Overall contentment is the key of balanced human progress. iii.There is enough for everybodys need than everybodys greed.

Communism

i. Considers the common man as the pillar of social drive. ii. Communism is the idea of a free society with no division or alienation, where mankind is free from oppression and scarcity. iii.A communist society would have no governments, countries, or class divisions

Confluencism

i. Its a meeting point (Sangam). ii. Rig Veda (oldest principle of Veda), says that let noble thoughts come to us form every side. iii.Implies a creation of new ideas as e result of interaction with different ideas. iv.Assimilate ideas and transform them creatively.

Cultural Nationalism

i. A social-psychological world view based on the concept of a nation culture & self dignity as a basis for the societies regeneration. ii. Positive ideas could borrowed, brought in, Negative influences must be avoided for achieving social regeneration.

OSHO

i. Very vast and controversial. ii. Ideas of Rajneesh, who rejected most of the current ideas of world views about man, state, & society. iii.An overarching tradition. i . Having a futuristic vision & hope for the transformation of society v in his New Man who is enlightened being, capable of realizing his full potential by liberating himself from the innumerable programming techniques invented by modern societies. v. Every individual has full godliness within him is the key message of Rajneesh.

Framework Of Normative Ethics

What is Normative Ethics? Normative Ethics are an investigation that attempts to reach normative conclusions about things which are good or bad? & actions which are right or wrong? It aims to discover what it should be

Normative Ethics in Management

N o rm a ti E th i i M a n a g e m e n t ve cs n

H o l sti T h e o ry i c

Te l o l g i l T h e o ry e o ca

D e o n to l g i lT h e o ry o ca

sm J sti Pri ci l u ce n p e E te rn a lE th i p i ca l E thEith i l E g o i cs E m ri cs ca U ti i ri n Pri cii lh ts Pri ci l l ta a n R pg e n p e

Holistic Theory
Holistic Theory believes that there are two

different approaches in ethics.

Eternal Ethics It believes in the core divinity of individuals. It is ever lasting & an appellation of God

Empirical Ethics It believes in one whose knowledge is got from experience & induction

Teleological Theory
Teleological Theory determines the ethics of an act

by looking to the consequences of the decisions ( The Ends ). The rightness of actions is determined solely by the good consequences they produce

Ethical Egoism It is the prescriptive doctrine that all persons ought to act from their own self interest. It is divided into Personal & Individual Ethical Egoism

Utilitarian Principle It is the ethical principle which finds the basis of moral distinctions in the utility of actions

Deontological Theory
Deontological Theory determines the ethics of an

act by looking at the process of the decision ( The Means ). It does not appeal to the consequences.

Rights Principle It defines an action as right if it respects the moral values & wrong if it violates them

Justice Principle It defines those that appeal in the eyes of law to basic notions of human dignity & respect for others

Ethics and Decision Making

What is Ethical Decision Making? Ethic issues arise out of every day business decisions. An individuals personal belief & the moral atmosphere of the organisation in which one works significantly after the behaviour one exhibits is called Ethical Decision Making

Factors Influencing Decision Making

O rg a n isa tio n a l E n viro n m e n t I d i d u a l B e h a vi u r n vi o
O p p o rtu n i ty

O rg a n i ti n a l B e h a vi u r sa o o

M o ra l Ph i o so p h y l

Ethical Decisions - How are they made?

The end the outcome sought The means the methods employed The motive the urge makes the decision

necessary in the first place

The foreseeable consequences

Levels of Decision Making

Level of Individual Level of the Organisation Level of the Business System

Difficulties In Decision Making

C ro ss C u l ra l C o n tra d i o n s tu cti

Pe rso n a l G a i / D u b i u s C h a ra cte r n o

S o u rce s o f e th i l p ro b l m s ca e

C o m p e ti ve Pre ssu re s ti

I d i d u a lV a l e s n vi u v / s O rg a n i ti n a lG o a l sa o s

M a n a g e rs V a l e s & A ttri u te s u b

Suggestions for Ethical Decision Making

Top management can improve Behaviour Codes of ethics improves decision making Interaction with peers and other colleagues

Control system

Ethics in Social Responsibility

Four Faces of Social Responsibility

Responsibility (CSR) & Ethics

CSR originated in the 1950s in USA.

The concept came into prominence in

Public Debate during 1960s & 1970s.

During 1980s to 2000 Corporations

recognized a responsibility to society.

Nature & Objectives of CSR

CONCLUSION

Presented By
Vishal Parmar (18) Dhiraj Shadija (26) Dhaval Shah (27) Mahesh Rajpal (41) Pankaj Godhwani (08)

Thank You