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INTRODUCTION OF BUSINESS ETHICS,[object Object]
Introduction of business ethics
Introduction,[object Object],Business ethics is a branch of ethics which prescribes standards of how the business is to be carried out.,[object Object],Guidelines to stakeholders,[object Object],The responsibility of the managers and employees,[object Object],The application of ethical judgments to business activities.,[object Object]
WHAT  IS ETHICAL BEHAVIOUR?,[object Object],Ethical behavior is that which is morally accepted as "good" and "right" as opposed to "bad" or "wrong" ,[object Object],The advantages of ethical behaviour include:,[object Object],[object Object]
Improved brand and business awareness and recognition
Better employee motivation and recruitment
New sources of finance – e.g. from ethical investors,[object Object]
Need for business ethics,[object Object],Introducing Socialism in Business,[object Object],Interest of Industry,[object Object],Buyers Market,[object Object],Better Relations with Society,[object Object],Advantages to Business and Society,[object Object]
Importance of ethics in business	,[object Object],Goodwill,[object Object],Profitability,[object Object],Going concern is assured,[object Object],Sustainability,[object Object],Survival of heated competition,[object Object],Safety from legal perspectives.,[object Object]
Types of ethics,[object Object],Normative ethics,[object Object],Applied ethics,[object Object]
Morality,[object Object],Derived from latin word “moralities”.,[object Object],It is a system of conduct which is virtuous.,[object Object],Refers to personal or cultural values.,[object Object],It refers to what is considered right or wrong by people.,[object Object]
Legality	,[object Object],Legality means lawfulness by virtue of conformity to al legal statue.,[object Object]
Distinguish ethics and laws,[object Object]
Concept of right,[object Object],Legal right,[object Object],Human right,[object Object],Employee right,[object Object],Moral rights,[object Object]
Concept of duty,[object Object],Rights and duties are correlative,[object Object],Duties are what he/she owes to others.,[object Object]
Ethical organisation,[object Object],Organisation should posses ethical behaviour.,[object Object],Three theories provide a framework fro judging ethical nature in business.,[object Object],1. theory of corporate excellence.,[object Object],2. Ethics and shareholders value.,[object Object],3. ethics and corporate governance.,[object Object]
Code of conduct,[object Object],A state of rules to guide behaviour and decisions.,[object Object]

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Introduction of business ethics