1. INTRODUCTION TO BUSINESS ETHICS

2. Ethics word meaning- character
Set of standards or code or value system, worked out from human reason & experience by which free human actions are determined as ultimately right or wrong, good or evil.
Business ethics-appl. of ethics in business

3. Nature of ethics in business
In busi. 2 types of ethical problem
>overt- bribary, theft, sabotage etc
>covert- complex and not transparent, defy ethical solutions

4. A decision is ethical if it is:
>Right- moraly right and due
>Good- brings good for all concerned
>Equitable- just & equal
>Proper- appropriate & acceptable
>Fair- Honest & due
>just- justice is done

5. Ethics is unstructured
moral standards
value system
background & childhood exper.
Ethics express some obligation to others

6. Characteristics of BE Differ with persons
ethical questions do not have a unique soln but a multitude of alternatives
Ethical decisions are not limited to themselves, but affects a wide range of other situations as well.
ED involves a trade off between cost incurred and benefits received.

7. Consequences are not clear
Every person is individually responsible for the ethical or unethical decision and action that he or she takes
Ethical actions are voluntary human actions

8. Why is ethics impo. in business?
Ethics corresponds to basic human needs
Values create credibility with the public
Values give mgmt credibility with employees
Values help better decision making
Ethics and profit
Law cannot protect society, ethics can.

9. Sources of ethics
Religion
Cultural experience
The legal system

10. Morality and ethics
Morality is the std an individual or community keeps about what is right and wrong or good and evil.
Morality
Moral norms deals with topics that either seriously harm or benefit human beings
Moral stds are not dependent on or changed by the decision of authoritative bodies

11. Moral demands enjoys a self-driven force
Expressed through the medium of special emotions.
Ethics
Ethics helps one to address questions such as what do moral principles mean in a given situation
Ethics offers certain moral stds to judge a particular human behaviour or situation

12. Ethics & Law Law is universally accepted, published document
Law says, what action should be taken against a person who violates the provisions of legal system whereas the consequences of unethical action is not clear
Some laws have nothing to do with morality while some may even violate our moral stds.

13. Ethical theories 1.Utilitarianism (consequence based)
Teleological Theories
The word teleological is derived from the
Greek word telos, which refers to an end.
Actions are justified on teleological theories by virtue of the end they achieve, rather than some feature of the actions themselves.

14. an action is said to be right if it produces good results or its achieves good consequences.
2 types
>act-consequentialism: morality of an action depends on its consequences
>rule-consequentialism: focusing only on the consequences can lead people to committing outrageous action.

15. 2.Deontological (duty based theory)
The word deontological derives from the deon, the Greek word for duty.
people behave ethically as they find it their solemn duty towards that
Suggests that we have moral duties to others
Stress the importance of respecting a person’s autonomy
It also stresses that one has duties to oneself

16. 3. Social justice theory 4. Ethics of care