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Ethics & Values

OB Presentation

Group 13

on 15 January 2013

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Transcript of Ethics & Values

Values are said to be the cause and Ethics the effect. Ethical Values and Conduct Ethical codes of conduct instruct us on what we ought or ought not to do. Typical ethical theories or ethical codes include basic principles that are intended to be used to guide conduct. 10 Major Issues in Ethics Group 13 Discrimination in hiring and promotion Drugs & Alcohol Abuse Employee Theft Conflict of Interest Quality Control Issues Misuse of proprietary information Abuse of company expense accounts Sexual Harassment Misuse of company assets Environmental pollution ENRON Early Signs Analyst started questioning the complex structure of Accounts
The Assumptions on Future Cash Flows from contracts signed
Complicated 10-K Statement
"Asshole" Post Enron Sarbanes–Oxley Act Why Business Ethics Are Important For a Company and Its Success Public Image Each corporation has a particular public image, which represents the way in which the public views the corporation. Investment A company that would like to encourage extra business investment is a company that has a strong sense of business ethics. Partnerships In the business world, joint ventures happen all the time. The only way to get good partners is to have a good reputation. 7 Principles of Admirable Business Ethics Be Trustful
Keep an open mind
Meet Obligations
Have Clear Documents
Become Community Involved
Maintain Accounting Control
Be Respectful Ethical Rankings Rankings of companies on the basis of ethics is done by a company called Ethisphere.

Companies are compared to other companies in their sector as business ethics are relational. Ethical Rankings The Criteria for ethical rankings is as follows:

Ethics and Compliance Program (25%)

Reputation, Leadership and Innovation (20%)

Governance (10%)

Corporate Citizenship and Responsibility (25%)

Culture of Ethics (20%) Ethical Rankings Ethical Rankings References Books referred for detailed understanding of the presentation topic:
Managing Business Ethics: Straight Talk about How to Do It Right by Linda Klebe Trevino

Ethical Issues in Business: A Philosophical Approach by Thomas Donaldson

Online online/offline articles and journals referred to:
Why Business Ethics Are Important For a Company and Its Success

7 Principles of Admirable Business Ethics

Business Ethics (Wikipedia)
http://en.wikipedia.org/wiki/Business_ethics References (contd..) Enron Video (Youtube video link) "http://www.youtube.com/watch?v=9EL2uRwUepY"
Enron Case Analysishttp://blogs.bgsu.edu/wxiaom/2012/04/29/the-fall-of-enron-an-analysis-of-ethical-issues/
Major issues in Ethicshttp://www.ethics.org/resource/business-ethics-timeline
List of most ethical companies (Forbes)http://www.forbes.com/sites/jacquelynsmith/2012/03/15/the-worlds-most-ethical-companies/2/
Top three most effective retention initiatives by generation: ONtalent_Selected_Articles_From_DeloitteReview.pdf
Article on ethical rankings (Ethisphere)http://ethisphere.com/wme/ Any Questions Group Members 1) Anant Khanna
2) Mayank Ashok Kumar
3) Saumil Pabari
4) Shaleen Kheterpal
5) Pradeep Thangaraju Group 13 Largest Bankrupcy in US History
20,000 Jobs lost
Over 8000 employees lost thier savings
Shareholders lost $74bi. Bill passed in the US Senate on July 30, 2002
Direct outcome of the Enron debacle
Top Management to individually certify the accuracy of FS.
PCAOB Video 2 Need for Ethics Satisfying Basic Human Needs
Creating Crediblity
Unitying people and Leadership
Improving Decision Making
Long-Term Gains
Securing the Society Video I VIDEO 3
Full transcript