INTRODUCTION OF ETHICS& BUSINESS ETHICS

KAUSTUBH BARVEWILBERT EMMANUALSHIKHA AGARWALAKHILA WUNNAMAYENI NACHANPREETI C

GROUP MEMBERS

Ethics is :1. The study of standards of conduct and moral

judgment, moral philosophy2. A treatise on this study3. The study or code of morals of a particular person,

religion, group, profession, etc.

INTRODUCTION

The term “ethics” is derived from the greek word “ETHOS” which refers to character or customs or accepted behavior.

DERIVATION

ETHICS is a branch of philosophy that addresses questions about morality that is, concepts such as good and bad, noble and ignoble, right and wrong, justice and virtue.

MEANING

NINE THEORIES OF ETHICSNine major theories have all been created to explain ethics and determine whether a decision is ethical or not

SITUATIONAL ETHICS CONSEQUENTIAL ETHICS VALUE ETHICS UTILITARIAN ETHICS MORALISTIC ETHICS ETHICAL REALISM ETHICAL HIERARCHIES PRINCIPLE ETHICS MORAL DEVELOPMENT

NINE THEORIES OF ETHICS

Ethics is a requirement for human life. Without it our actions would be random and aimless

They give us a baseline for what is wrong and right . Ethics help us to have a ready understanding of how to

react to a certain situation before it happens They act as our mediator when dealing with people. If we

have wrong sense of ethics we will react to people in a negative manner

IMPORTANCE OF ETHICS

Ethics and Morality are not same Ethics is the principle that guides human behavior Morals are related to traditional beliefs, customs and

conventions that guide man’s social behavior

ETHICS AND MORALITY

Ethics is the science of conduct. It deals with certain standard conduct and morals

Law is a code of conduct which the authority in power prescribes for society

ETHICS AND LAW

ETHICS LAW

The scope of ethics is broad The scope of Law is narrow

Ethics means the rules or principles that define right or wrong conduct

Laws are written rules about what is right and what is wrong in various walks of life

People who reject Ethical Principles have to face social boycott

If People don’t obey laws, they are subjected to punishments

Ethics does not use force Law uses force when necessary

It is not backed by power It is backed by power

Ethics concentrate on what should be done

Law concentrates on what should not be done

ETHICAL THEORIES

APPLIED ETHICS

THREE ETHICAL THEORIES

METAETHICS NORMATIVE ETHICS

METAETHICS

METAETHICS

METAPHYSICAL ISSUES

PSYCHOLOGICAL ISSUES

LINGUISTIC ISSUES

The term Normative Ethics implies something that guides or controls

Thus, Normative Ethics is the branch of ethics that guides human conduct

It sets out certain moral standards that helps us to determine what is right and what is wrong

NORMATIVE ETHICS

NORMATIVE ETHICS

THEORIES OF NORMATIVE

TELEOLOGICAL ETHICAL THEORY

DEONTOLOGICAL ETHICAL THEORY VIRTUE ETHICS

Applied Ethics is a branch of ethics that deals with specific, often controversial moral issues in different fields which are as follows :

1. Medical Field : Abortion, Female Foeticide and Infanticide, etc.

2. Business Fields : Misleading Advertising, insider trading, bribery, corruption, etc.

3. Others : Displacement of tribal people due to hydro-electrical projects, cloning, testing drugs on animals, etc.

APPLIED ETHICS

Altruism revolves around the question of morality ‘ I ought to act in the interest of others’.

Example of Altruism is Politician donates money to a charity because it is the right thing to do, is the honest act of altruism

But, politician who donates money to a charity in order to gain favorable public opinion is not the act of altruism

ALTRUISM

Egoism revolves around the question “ I ought to act in the interest of myself”

It states that people must do what is best for themselves in order to live a morally correct life

In some cases of egoism, the idea of acting out one’s self interest sometimes even extends to overlooking other’s interests in order to satisfy your own.

EGOISM

CODE OF CONDUCT UNIVERSAL APPLICATION RELATIVE TERM NEW CONCEPT DETERMINES ISSUES DESCRIBES AND DIFFERENTIATES PROTECTION SUPPORTS EXPANSION

FEATURES OF BUSINESS ETHICS

EMPIRICAL APPROACH INTUITIVE APPROACH RATIONAL APPROACH REVELATION APPROACH

APPROACHES OF BUSINESS ETHICS

SURVIVALONLY PROFIT IS NOT ACCEPTABLEA FIRM NOT PERFORMING WELLIS

CONSIDERED AS LIABILITY

PROFIT MAKING – AN OBJECTIVE WITH AN ETHICAL DIMENSION

GAINED POPULARITY IN 1980’s and 1990’S

CORPORATES LIKE TATA’S , BIRLA’S , RELIANCE ARE PIONEERS IN FIELD OF BUSINESS ETHICS

BUSINESS ETHICS-ROLE AND IMPORTANCE STANDARD OF BEHAVIOUR TRUE NORTH PRINCIPLE TO LEAD BUSINESS MORAL VALUES OF EMPLOYEES VALUE BASED LEADERSHIP CREATES ETHICAL PRACTISES SHORT TERM GAIN AND LONG TERM PAIN V/S

SHORT TERM PAIN AND LONG TERM GAIN STRONG INDEPENDENT BOARD ROLE OF I.T. AND BUSINESS ETHICS

MISSION OR VALUE STATEMENTS CODE OF ETHICS ETHICS MANAGERS, OFFICERS & COMMITTEES ETHICS EDUCATION AND TRAINING PEER REPORTING OF UNETHICAL BEHAVIOUR

HOW TO INCULCATE ETHICAL BEHAVIOUR IN AN ORGANIZATION ?

THANK YOU