1. Business Ethics

2. What is Ethics?
Ethics is a collection of moral principles and rules of conduct accepted by part or all the member of a society
Ethics is a science that studies moral principles and reasoning of what is right and what is wrong, distinguishing the good from the bad and analyzing the motives and consequences of human actions.

3. What is Business Ethics?
Business ethics can be defined as written and unwritten code of principles and values that govern decisions and actions of individuals within an organization
Business ethics apply not only to how the business interact with the world at large but also to their one on one dealing with a single customer.

4. Two Scholl of Thoughts
There are two schools of thoughts how company should approach a definition for business ethics:
1. Shareholder Perspective: Focus on making decisions that are in the owners best interest.
2. Stakeholder Perspective: Focus on making decision that consider the need and interest of the multiple stakeholder groups, not just those with a direct financial stake in the organization’s profits and losses.

5. Importance of Business Ethics
Earn customer loyalty
Save billion on law suits
Take better decision
Pillar of strategic planning and strategic thinking
Base for continuity in business relationship
Improve employees’ performance

6. Sources of Ethics and Myths about Ethics

7. Sources of Ethics
Religion
Culture
Laws

8. Scope of Business Ethics
Business ideas and objectives need to be harmless
Product and services must not be harmful
Business location must not cause difficulty to the neighboring people
Fuel consumption, by product and wastage must not cause injury and discomfort to the surrounding people
Customer should be served with true information

9. Scope of Business Ethics
Employees should be hired without discrimination with fair wage, providing work safety and healthy working conditions, opportunities for promotion, retirement benefits
Cause no harm to the community and urbanization
Help the government through regular taxes dues; faithfully follow national, economic, business and industrial policies
Social contributions tp various affairs of the society

10. Myths about Business Ethics
Business ethics is more a matter of religion than management
Our employees are ethical so we don’t need attention to business ethics
Business ethics is a discipline best led by philosophers and academics
Business ethics is superfluous

11. Myths about Business Ethics
Business ethics is a matter of the good guys preaching to the bad guys
Business ethics is the new policeperson on the block
Ethics can’t be managed
Business ethics and social responsibility are the same thing
Our organization not in trouble with the law, so we’re ethical

12. Myths about Business Ethics
Managing ethics in the workplace has little practical relevance