Ethics in business
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Transcript of Ethics in business
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ETHICS IN BUSINESS
Presented By: Muhammad Anees Khan
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Contents Introduction of ethics Distinguish ethics and law Ethics in business Importance of ethics in business Principles which form the business
ethics Ethical issue categories conclusion
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Introduction of ethics
Ethics is a Greek word which mean manner or character.
Ethics are the principles, values, and beliefs that define what is wrong and right behaviour.
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Distinguish ethics and lawETHICS
Not use force Concentrate on
Do’s Broad concept
LAW Use force Concentrate on
Dont’s Narrow concepts
Ethics are more important than laws. (Wynton Marsalis)
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Ethics in business Business Ethics
Prescribes Standard of how the business is to be carried out.
The responsibility of the managers and employees
Guidelines to Stakeholders.
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Quotes on business ethicsBeing Good Is A Good Business.
(Dame anita Roddick)A Man Without Ethics Is Wild Beast
Loosed Upon This World (Albert camus)
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Importance of ethics in business Reputation attract more employees To avoid lawsuit Attract new customers Attract new investors
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Principles which form the Business Ethics Honesty Keeping Your Promises Respect Obeying the law Accountable
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Ethical issue categories
Conflict of interest Child labor Accounting Fraud Unethical
Communication Misuse of company
resources
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Conflict of interest
A conflict of interest (COI) is a situation in which a Person or organization is involved in multiple interest, financial interest, or otherwise, one of which could possibly corrupt the motivation of the individual or organization.
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Child labour Child labor is
unethical Worldwide, an estimated
211 million children aged under 15 work.
In India, one of the world's fastest-growing economies, the UN estimates that child labour contributes 20 per cent of gross national product.
Source:http://www.ethicaltrade.org
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Accounting Fraud One Of The Most Widely Reported
Violation Of Accounting Ethics Involved ENRON, a Multinational Company, That For Several Years Had Not Shown A True Or Fair View Of Their Financial Statements. Their Auditor Arthur Andersen, An Accounting Firm Considered One Of The “Big FIVE", Signed Off On The Validity Of The Accounts Despite The Inaccuracies In The Financial Statements When The Unethical Activities Were Reported, Not Only Did Enron Dissolve But Arthur Andersen Also Went Out Of Business. Enron's Shareholders Lost $25 Billion As A Result Of The Company's Bankruptcy.
Source:https://en.wikipedia.org
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Unethical Communication
Threatens the quality of all communication and consequently the well being of individual and society
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Misuse of company resources
According to surveys conducted in Europe and the United States, company employees spend up to 30% of their working hours on private affairs
Source:https://securelist.com
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conclusion The purpose of ethics is to enhance our
lives and our relationship both inside and outside the organization
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Thank you