I would like to express my sincere gratitude to Ms. Shanu Khattri for providing this opportunity to work on this topic. She has always been supportive and encouraging.
I have really enjoyed working on this project.
Index Page No. Introduction
Why we need to study business ethics
* Case study 1
* Case study 2
Modern decision making and ethics
Law and ethics
Corporate social responsibility
Relation between CSR and business ethics
Critics and arguments against business ethics
Ethics in philosophy is the study and evaluation of human conduct in the light of moral principles or it is the inner-guiding moral principles, values, and beliefs that people use to analyze or interpret a situation and then decide what is the “right” or appropriate way to behave. “Business Ethics” can be defined as the critical, structured examination of how people & institutions should behave in the world of commerce. In particular, it involves examining appropriate constraints on the pursuit of self-interest, or (for firms) profits, when the actions of individuals or firms affects others or it is a specialized study of moral right and wrong. It concentrates on moral standards as they apply particularly to business policies, institutions, and behavior. "Business Ethics is the moral standards which guide the running and transactions of businesses". - Malcolm Evans
Characteristics of Business Ethics
Some business ethics are imposed by law. Business ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer. Good business ethics should be a part of every business. The important characteristics of business ethics are:- * As a guide: - Business ethics constitutes the guiding principles of business functions with the help of this, businessmen can lean about the progress, situation, environment and conditions of the business. * Goals and means: - Business ethics is that branch of the business environment in which can study about the goals and means for the rational selection of sacred objects and their fulfillment. * Art and Science: - Business ethics is concerned with the principles of business behaviour, standards, moral values etc. With the study of business ethics, we can show the difference between good and evil, proper and improve actions of business. For these activities in business, business ethics is known as an ideal science. It is an art because it emphasizes practical use of behavioural standards, techniques and principles. * Study Human Aspects: -Business ethics all those which are concerned with human aspect. It provides information to customers, government, society etc, on good or bad, right or wrong conducts of business. * Difference from Social Responsibility: -Social responsibility is concerned with functions, programmes and policies of an enterprise, whereas business ethics is related with the conduct and behaviour of businessmen. But social responsibility of business and its policies are influenced by ethics. * Technology based: - The development of business ethics is possible on the basis of theological principles, such as service, human welfare, sincerity, good behaviour etc. * Development Personal Dignity: -Personal dignity can develop with the principles of ethics. * Unrelated to Emotions: -Business ethics is not concerned with emotions but is based on reality and social customs. As a matter of fact, business ethics is developed after testing the requirements of business environment, social customs and traditions. * Universal Philosophy: - Business...