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BROADER ETHICAL ISSUES IN
SOCIETY-CORRUPTION & BRIBERY
Presented By:
Ajesh Raj 1261
Sijo Johnson 1272
Suyash Kotian 1287
Jyoti Surywamshi 1311
Meaning of Ethics
• A branch of philosophy that involves systematizing,
defending and recommending concepts of right and
wrong conduct, often addressing disputes of moral diversity
• Term comes from Greek word ethos which means
"character", "habit", "praxis“
• Philosophical ethics investigates what is the best way for
humans to live, and what kinds of actions are right or wrong
in particular circumstances
• Ethics seeks to resolve questions dealing with human
morality—concepts such as good and evil, right and
wrong, virtue and vice, justice and crime.
Cont’d…
• Ethics may be divided into four major areas of study:
• Meta-ethics-the theoretical meaning and reference of
moral propositions and how their truth values (if any)
may be determined;
• Normative ethics-the practical means of determining a
moral course of action;
• Applied ethics draws upon ethical theory in order to ask
what a person is obligated to do in some very specific
situation, or within some particular domain of action
(such as business);
• Descriptive ethics-known as comparative ethics, is the
study of people's beliefs about morality;
Key Points
• Ethical behavior is based on written and unwritten
codes of principles and values held in society
• Ethical principles and values serve as a guide to
behaviors on a personal level, within professions,
and at the collective organizational level
• Business ethics involves personal, professional, and
corporate behaviors
Business Ethics
• A form of applied ethics or professional ethics that
examines ethical principles and moral or ethical
problems that arise in a business environment
• It applies to all aspects of business conduct and is
relevant to the conduct of individuals and entire
organizations
Importance of Ethics in Business
• Ethical behavior and corporate social responsibility
can bring significant benefits to a business
– attract customers to the firm's products, thereby boosting
sales and profits
– make employees to stay with the business, reduce labor
turnover and therefore increase productivity
– attract more employees wanting to work for the business,
reduce recruitment costs and enable the company to get
the most talented employees
– attract investors and keep the company's share price high,
thereby protecting the business from takeover.
Corruption
• The word corrupt means “utterly broken”
• Corruption is described as the illegitimate use of
public power to benefit a private interest
• Corruption is an action to (a) secretly provide (b) a
good or a service to a third party (c) so that he or she
can influence certain actions which (d) benefit the
corrupt, a third party, or both (e) in which the
corrupt agent has authority
Scale of Corruption
• Corruption can occur on different scales
– Petty corruption occurs at a smaller scale and within
established social frameworks and governing norms
– Grand corruption is defined as corruption occurring at
the highest levels of government in a way that requires
significant subversion of the political, legal and
economic systems
– Systemic corruption (or endemic corruption)[5] is
corruption which is primarily due to the weaknesses of
an organization or process
Effect of Corruption on Business
• Corruption is one of the worst enemies of business
because it can result in far-reaching consequences,
including total closure of the company
• Corruption in business involves misappropriation of
funds, bribery, misuse of office by company officials
and dishonesty in financial matters
• Corruption can hurt the image of the business and
jeopardize its profitability
Cont’d…
• Losses
• Discouragement of Shareholders and Investors
• Damaged Business Image
• Business Inefficiency
Bribery
• It an act of giving money or gift giving that alters the
behavior of the recipient
• Bribery refers to the offering, giving, soliciting, or
receiving of any item of value as a means of influencing
the actions of an individual holding a public or legal
duty
• It constitutes a crime such as offering, giving, receiving
of any items of value to influence the actions of an
official or other person in charge of a public or legal
duty
• Bribe is the gift bestowed to influence the recipient's
conduct
Factors That Push Business to Pay Bribe
• Competitors are giving bribes to obtain business
(which can cause the misuse of the country’s
resources)
• The pressure for higher levels of performance by top
management and shareholders
• This is an accepted practice in the host country.
• Tax laws of the country encourage bribery. It can be
written off as a business expense.
• Government control over business activities.
Cont’d..
• In economics, the bribe has been described as rent
• Government officials are poorly paid and use
bribery to supplement salaries.
• Bureaucratic delays can be costly for business.
• Pressure from politicians to make contributions to
political parties or causes.
Business Ethics-Corruption & Bribery MMS

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Business Ethics-Corruption & Bribery MMS

  • 1. BROADER ETHICAL ISSUES IN SOCIETY-CORRUPTION & BRIBERY Presented By: Ajesh Raj 1261 Sijo Johnson 1272 Suyash Kotian 1287 Jyoti Surywamshi 1311
  • 2. Meaning of Ethics • A branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct, often addressing disputes of moral diversity • Term comes from Greek word ethos which means "character", "habit", "praxis“ • Philosophical ethics investigates what is the best way for humans to live, and what kinds of actions are right or wrong in particular circumstances • Ethics seeks to resolve questions dealing with human morality—concepts such as good and evil, right and wrong, virtue and vice, justice and crime.
  • 3. Cont’d… • Ethics may be divided into four major areas of study: • Meta-ethics-the theoretical meaning and reference of moral propositions and how their truth values (if any) may be determined; • Normative ethics-the practical means of determining a moral course of action; • Applied ethics draws upon ethical theory in order to ask what a person is obligated to do in some very specific situation, or within some particular domain of action (such as business); • Descriptive ethics-known as comparative ethics, is the study of people's beliefs about morality;
  • 4. Key Points • Ethical behavior is based on written and unwritten codes of principles and values held in society • Ethical principles and values serve as a guide to behaviors on a personal level, within professions, and at the collective organizational level • Business ethics involves personal, professional, and corporate behaviors
  • 5. Business Ethics • A form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment • It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations
  • 6. Importance of Ethics in Business • Ethical behavior and corporate social responsibility can bring significant benefits to a business – attract customers to the firm's products, thereby boosting sales and profits – make employees to stay with the business, reduce labor turnover and therefore increase productivity – attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees – attract investors and keep the company's share price high, thereby protecting the business from takeover.
  • 7. Corruption • The word corrupt means “utterly broken” • Corruption is described as the illegitimate use of public power to benefit a private interest • Corruption is an action to (a) secretly provide (b) a good or a service to a third party (c) so that he or she can influence certain actions which (d) benefit the corrupt, a third party, or both (e) in which the corrupt agent has authority
  • 8. Scale of Corruption • Corruption can occur on different scales – Petty corruption occurs at a smaller scale and within established social frameworks and governing norms – Grand corruption is defined as corruption occurring at the highest levels of government in a way that requires significant subversion of the political, legal and economic systems – Systemic corruption (or endemic corruption)[5] is corruption which is primarily due to the weaknesses of an organization or process
  • 9. Effect of Corruption on Business • Corruption is one of the worst enemies of business because it can result in far-reaching consequences, including total closure of the company • Corruption in business involves misappropriation of funds, bribery, misuse of office by company officials and dishonesty in financial matters • Corruption can hurt the image of the business and jeopardize its profitability
  • 10. Cont’d… • Losses • Discouragement of Shareholders and Investors • Damaged Business Image • Business Inefficiency
  • 11. Bribery • It an act of giving money or gift giving that alters the behavior of the recipient • Bribery refers to the offering, giving, soliciting, or receiving of any item of value as a means of influencing the actions of an individual holding a public or legal duty • It constitutes a crime such as offering, giving, receiving of any items of value to influence the actions of an official or other person in charge of a public or legal duty • Bribe is the gift bestowed to influence the recipient's conduct
  • 12. Factors That Push Business to Pay Bribe • Competitors are giving bribes to obtain business (which can cause the misuse of the country’s resources) • The pressure for higher levels of performance by top management and shareholders • This is an accepted practice in the host country. • Tax laws of the country encourage bribery. It can be written off as a business expense. • Government control over business activities.
  • 13. Cont’d.. • In economics, the bribe has been described as rent • Government officials are poorly paid and use bribery to supplement salaries. • Bureaucratic delays can be costly for business. • Pressure from politicians to make contributions to political parties or causes.