Business Ethics

Introduction of Ethics
The word ethics is derived from the Greek word

meaning custom or character The concise Oxford Dictionary defines ethics as the treating of moral questions. But this definition is imprecise & leaves a number of loose ends. whose morals? The Chambers Dictionary comes closest to providing a workable definition Ethics is a code of behaviour considered correct What the society considers correct may have arrived by the crystallization of consumer pressure on corporations & governments & regulatory forces. It is science of morals describing a set of rules of behaviour Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct.

ethikos

Principles of Personal Ethics

Personal values are the conception of what an individual or a group

regards as desirable. Personal ethics refer to the application of these values in everything one does. The principles of personal ethics: Concern & respect for the autonomy of others. Honesty & the willingness to comply with the law Fairness & the ability not to take undue advantage of others. Benevolence & preventing harm to any creature. People are motivated to be ethical for the following reasons: Most people want to maintain a clear conscience & would like to act ethically under normal circumstances It is natural for people to ensure that their actions do not cause any injury, whether physical or mental, to others People are obliged to obey the laws of the land Social & material well being depends on ones ethical behaviour in society

Principles of Professional Ethics

A profession is a vocation or calling, especially one that

involves a specific branch of advanced learning or branch of science. Example: Doctor, advocate, professor, scientist, or a business manager. A professional is one who is engaged in a specified activity as ones paid occupation like a salaried business. There are certain basic principles people are expected to follow in their professional career: Impartiality Openness: full disclosure Confidentiality; trust Due diligence; duty of care Fidelity of professional responsibilities & Avoiding potential or apparent conflict of interest

Business Ethics
Ethics is a conception of right & wrong behaviour, defining

applying ethical principles to examine & solve complex moral dilemmas Business ethics is that set of principles or reasons which should govern the conduct of business whether at the individual or collective level.
fairness & concentrates on the benefits stakeholders, both internal & external. to the

for us when our actions are moral & when they are immoral. Business Ethics is the application of the general ethical ideas to business behaviour. Ethical behaviour is expected by the public, it facilitates & promotes good to society. Ethical problems occur in business for many reasons To be precise, Business ethics is the art & discipline of

Business ethics is based on the principle of integrity and

About how many high school students do you think cheat on exams?
a. 10% b. 25% c. 50% d. 75% e. 100%

In a recent Wall Street Journal article, Psychology professor Steven Davis says that cheating by high school students has increased from about 20 percent in the 1940s to 75 percent today. Students say cheating in high school is for grades, cheating in college is for a career.