Business Ethics

Topics: Ethics, Business ethics, Applied ethics Pages: 58 (18525 words) Published: November 14, 2012
Mgmt study material created/ compiled by - Commander RK Singh

(Ple a se no te th a t th ese no tes a re n o t co mp reh en sive and th erefo re a d d i t io n a l r e a d i n g i s r e c o m m e n d e d f r o m d i v e r s e s o u r c e s )

Ethics and Mgmt by Hosmer Business Ethics by Shekher Business Ethics by Chakrobarthy (Oxford publication)

Sy l la b us
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Evolution of thought of ethics in business Culture & ethics Overview of ethics value system, attitudes, beliefs and life patterns Social, economical values & responsibilities Trusteeship Management- Gandhian philosophy of wealth management Ethics and Indian management Basic framework of normative ethics Ethics and decision making Social responsibility of business - ethical aspects of corporate policy Morality and rationality in formal organisation Moral relations between individual and organisations Relation between ethics and corporate excellence Approaches for developing various orientate towards ethical business behaviour.

W ha t i s e t hi c s ?
Ethics means norms for the conduct of people in social groupings. Ethics is derived from Greek Word “Ethos” which means culture – the prevalent behaviour in the society. Thus, it is a code of conduct which has social acceptance. Ethics has often been misunderstood to be conforming to law. On the contrary, ethics is about voluntarily conforming to what is good/acceptable/desirable behaviour without the Page 1 of 46 - Business Ethics (Ver 1.2 - 31.03.2007)

Jamnalal Bajaj Institute of Mgmt Studies

Mgmt study material created/ compiled by - Commander RK Singh

force of any legal/social obligation. The key word here is VOLUNTARILY. It is about choosing to do some thing that is not mandated by the law or not doing some thing that is permitted by the law but may cause harm to some one. Ethics are not universal. Ethics are derived from social values. Word “Ethnicity” is a derived word from Ethics which means relating to a specific social group. Thus, a set of ethical values relate to certain group which may not completely match with other group. Ethics keep changing from place to place, group to group, country to country and time to time. What is considered ethical today may have been considered unethical a few centuries back. What is ethical in one religious group may be considered unethical in other group. So, ethics are time and space dependent. Ethics are what you have learnt from the society as right or wrong behaviour. Law of the land might change from time to time but ethics remain relatively constant over a fairly long period of time. Whatever is bound by the law, does not remain “ethics” any longer. An ethical practice today might be coded into a law tomorrow. That practice would loose the high ground of ethics from that moment because ethics is about “voluntarily conforming to a good behaviour”. Ethics almost always appear on the fringes of the law. It might often cross the boundaries either way by small margins. What it means is that some thing which is lawful could still be unethical and even vice versa. Ethics is what a true human being is expected to do in a certain situation without the binding of law. No breach of law is committed by a person who accosts and demands his outstanding loan from his debtor in front of marriage party of the debtor’s daughter. But would any person support such an act? It would be termed outright unethical. (He should consider himself lucky if does not get beaten up by some self appointed conscience keepers of the society). Similarly, many consider Robin Hood to be perfectly ethical, though his acts were out rightly unlawful. It is widely accepted norm that any act which achieves greater good for greater number of people is ethical. Even a refusal to forego one’s lawful right would be termed unethical if it is going to cause a...
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