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Business Ethics

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by

rabeya tariq

on 5 October 2013

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Transcript of Business Ethics

Business Ethics
Developing Ethical Environment
Moral considerations before profit
Began from the grassroot of the business
Is the action legal?
Does it comply with our values?
How will it look in the newspaper?
If it is wrong not do it!
Keep asking until u get an answer.
Ethical Code of Practice and Ethical Training
These are the intended to improve the behaviour and image of the business. These may include:
personal integrity: in dealing with suppliers and in handling the firm's resources
corporate integrity: forbidding collusion with competitors and predatory pricing
Environmental responsibility: minimize pollution and maximize recycling
Social responsibility: provide genuine value that are promised
Balance of Ethics
Advantages
Marketing advantage: business often use there ethical doing to promote themselves and also benefit from increased prices
They take public relation
Training motives works
Worker feel like an important part
Conclusion
Ethics are the building block of our society and thus should be the building block of our corporations. Henry Kravis states, “If you build that foundation, both the moral and the ethical foundation, as well as the business foundation…then the building won't crumble.” It is essential not to let greed cloud judgment. The colossal missteps taken by Enron and Arthur Andersen shall serve as a lesson for those that consider straying from the path of morality.
Business ethics and objectives
Why do business exist?
profit maximization
to use resources as efficiently as possible
fulfilling demand to stakeholders
We sure aren't perfect, but we're trying to do the right thing(Innocent Drinks)
Employes need training to:
use actions such that they are sustain the raw materials
dealing with bulling, harassment and discrimination
anti-competitive practices
testing products on animals issues
Pressure groups may act to restrict any activity that damages the environment and damage the company's image
the study and examination of moral and social responsibility in relation to business practices and decision-making in business
Disadvantages
Reduces profitability
Conflict with existing policies
Full transcript