Principal of Business Ethics

ETHICS 20 Marks Page No DELTA Date / the total 6 Chapters CH-1, principal of Business ethics. SMarks Che oveserien -Ethics Needs of meaning af Busines Business ethics ethics ethical advantages of sins Dillemma Business ethics Mahatma Gandhi lonapt 1. Ethics & Busines ethics:- I Meaning The ling. af term Ethics ethics word ethos" which behaviour. is derried fram greek means character/ Ethics may be depined as - a principal of behaviour. which help a person in deciding what is goodliferith what is bad (wrong) -by - by considering moral value." Ethics POB (principal of behaviour. 7 I Meaning of Business ethics: It means application of day to day ethice principal al behaviour, in business- decision ↳ so, business ethics is applied ethics", Examples of Business ethics→ A businessman has to take different decisions in business the example of following are.. ethical bustelers, decision cao hWhile - deciding Cselecting) location of the - 1 business / Factory / plant :- Keep the Yoration.. al the factory / plant outside the crowded and consider the environmental effect. (b) While deciding the production, by to with aroids adulteration (mixing inferior goods) and maintain good quality Co While storing the goods, consider Cavoiding Asin hoarding (illegal storage) etc (a) lalhile dealing with workforce., avoid. discrimination (sr) on the basis al caste, Meligion, gender etc. Concept2. Needs fox Busines ①Social Obligation→ ethics A business gets everything from so it has some oft the sociaty duties the Society, also towards widte businessman has to follow the ethics while taking businen- decision businessman pails to meet the expectation aftoricky then withdraw Society Hien con Its support to the business 2. Avoidance of Gorp - intervention :- every businessman dislike interference in his business laco, only full pil by govt, But Gior's makes when the businessman fails to the business ethics ONE so, in order to aroide the gort. intervention, there Acer need of business ethics. is 3. Long term benefit→ In long-termo only thone, businessman will survee who follows business ethis. 4. Bettpa public hot image which A business house" is widely leads to accepted by increase in apni publica follow ethics, public, which goodwill in the eye. Concept 8. Benefits of Business ethics:- When ethics is followed in a offers following benefits: I. Increased profit busine When a businessman follows ethics, the its goodwill increases, which result in increased sell, The increased sell Mesut's. Beltincreased profit. B. 2. Bettere public. When image businers house Follows ethics, 15 then its ingef personality become goods in & eyes al public. 2. Increased Morale & employees :→ When a businessman applies ethics in his businers, then it's employee Feel-paride and get motivation. 4. This type of busines organisation is also able to attract & retain good talent. Arsidance of Gort - Intervention. :- 3 By voluntarily complying (Fulfilling) business ethics a businessplan con to business without interference of gort. Incept-47 sins, linted by Mahatma Gandhi :- The details af 7 M. Gandhi, areas: social sins, linted by 1. politics without principles. brate According to hin M. Gandhi, the king's (Rules) wou only the guardian executors & seurants wharma? so, politicions shall follow principles or standard - Rule.. unprincipled politicion engage in power game which cost veriy high to the society. 2. Wealth without work :- The practice af getting something for nothing 10 is also a social sin, So, wealth should earned ben only through hard work. So money easinied by manipulating (changing for personal benefits the market for personal totally unethical. 3. Commerce without morality :- Business eff According to M. Gandhi, just a businessman is truntee, who must take care the benefits of sth all the stakeholdere 18. every person connected to the business, before taking any decision. A businessman shall not make by all possible. means 'साथन) will be sin. only mone otherwise. K 4. Knowledge without charactor → ProCICD. "pure Intellectual development" without "Internal character development is very dangerous. According to Gandhi, education (Knowledge) should provide por all around development 183 6. pleasure without conscience s- sense of responsibilty According to Gandhi, pleasure (enjoyment) not be without considering the sight ing. pleespoor briest be without the wrong. responsibility or Sense 6 Science without humanity Grindhi hold that the main purpos of technology (invention) is to increase the welfare of human being.. technology doesn't being, it becomes IF a new result ini human well. social-sin W 7. Worship without sacrifice: According to Gandhi, true religion just teaches AL Truth love (altlichment) → Compassion (sypathy) understanding. to its follower. Concept 3. Ethical Dilemma & How to handle it? Confusion T. Meaning of Ethical - Dilemma: "Dilemma means a state of confusion"... In business a businessman has to always face • ethical dilemnia" becalise there is conflict in the interest of different Stakeholders, Simply, Ethical dilemma" means, a position where a businessman has to select any (one) alternative out of 2 or more, right alternatives II cxample: A businessman wants to introduce a new technology, which can reduce the cost but have great threat to the employees. Life prod Guideline for handling af sthiral - Dilemma: as per Mr. L. Nanh (Havard Business Review) ethical-dilemma can be removed by the following points answering / considering the (a) Define the understood problem clearly. (6) How would you define, the problem, if you stood on the otherside of fence (boundary/table) 10 How did the situation viised? Inf do whom you are loyal. (respect)? es hihat are the long-term impact of your ( decision? Concept 6 Diff between Ethics & morals :- 8.000. Meaning Ethics Ethics means. Character or beh- -ariowe al an Inadivi -dual, for deciding what is right f what is corong ethics is derived Morals "Morals" means custom Belief of a group. society priligia socie Cas Originated prom prom greek coordiniend to lonstantly finding fault in the work of an employee. (d) Gender based. comment indicent behaviour. (unsuitable behaviour). Concept-s How to create/mange ethes in the wordsplace are the tips for creating or managing ethich at the work - place. . Make Code of condect:- frame ruley por organisation. "code-of- conduct includes rules about > preferred style of dress • of drugs avoiding consumptional → Maintaining confidentiality of information 2. Establish open communication Note only make code al conduct, but explain Such code with reason. and encourage. question from subordinates. 3. Appoint ombuds-person": Combudsman" means an independent. person. la coho hears the complain af employees as well as employers. It helps to create ethical-envvironment- 4. Set an example from Pops The top-level mgt Ghall not distate (order) only jules, but also followed it.