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Premium member Presentation Transcript Business Ethics and Social Responsibility : Business Ethics and Social Responsibility Business Ethics : Business Ethics The value of what should be done and what should not be done from the business point of view Ethical issues for business : Ethical issues for business Product safety standards Advertising contents Working environment Unauthorized payments Employee’s privacy Environmental issues Genesis of Ethics : Genesis of Ethics Ethics is a Greek word, it means Character or manners. Ethics is subjective while morality is objective. Ethics is about sense of belongingness to society of business. Formed with a limited vision for economic generation but should resolve conflict with society by servicing the community. 3D of Ethics. : 3D of Ethics. UNITARIAN VIEW OF ETHICS Business is a part of moral structure and moral ethics. SEPARATISTS VIEWS OF ETHICS Morality and ethics has no role in business. Society and law deals with ethics and morality. INTEGRATED VIEW OF ETHICS Ethical behavior and business should be integrated in a new era called Business Ethics. Integration View of Ethics. : Integration View of Ethics. Business. Morality & ethics BUSINESS ETHICS Market system GOVERNMENT LAW SOCIETY Ethical Consciousness : Ethical Consciousness Stage 6 corporate citizenship Stage 5 Stake holder concept Stage 4 Profit Maximization in the long term Stage 3 Profit Maximization In the short term. Stage 2 Anything for Profit Stage 1 Jungle Law Ethical standards Vary between cultures And countries. More evident From /amongst Entrepreneurs/ Corporations. Long term profitability and Attractiveness of Orgn Is key to competitive strategy Both attractiveness & competitive Position can be shaped i.e. challenging and exciting Ethics in Business : Ethics in Business OVERT approach External theft Bribery etc., COVERT approach Internal Merger & Acquisitions. Insider Trading. Ethics Dilemma.- Pricing, advertising, promotion, Working condition, customer service, Work force reduction's ,environment Community relations, supplier relations. Important of trust (empathy) maturity in relationship Two domains Ethics and morality : Ethics and morality Ethics is about field or domain of enquiry while morality is the object of enquiry. Ethics or behavior accepted with in a group is recorded as credos– espoused value of group/Orgn. When espoused value become practiced values, then the group is said to be ethical Organisation. Ethical theories can be classified into three subject areas:- Meta ethics Normative ethics Applied ethics. Details of 3 Ethical theories : Details of 3 Ethical theories Meta Ethics Deals with entire gamut of ethical issues:- moral values exists independent of humans –psychological issues that deals with psychological basis of the moral actions and linguistic issues dealing with moral terms-reflect on reactions on photo at UK deities and others. Belief system, tradition- Kentucky launching chicken product at Bangalore. Slide 11: Applied Ethics:- Deals with ethics dealing with Euthanasia, TERRI SCHIAVO FLORIDA women!!- female feticide and infanticide, displacement of tribal people due to hydel power projects, cloning, testing drugs on animals Details of 3 Ethical theories Normative theories-Business ethics. : Normative theories-Business ethics. That which guides and controls human conduct. Sets out certain standards that determine what is right and what is wrong. Golden principle behind this – WE SHOULD TREAT OTHERS THE SAME WAY THAT WE WANT OTHERS TO TREAT US” There are Three leading theories of Normative ethics- STOCK HOLDERS THEORY STAKE HOLDERS THEORY SOCIAL CONTRACT THEORY Details of 3 Ethical theories ETHICS AND CORPORATE GOVERNANCE : ETHICS AND CORPORATE GOVERNANCE Deals with determination what is ‘right'," fair, prior and just" in decisions and actions made that affect stake holders. It focuses on the business relationship with employees, customers, stockholders, creditors, suppliers and member of the society in which it operates. Corporate ethics , is a a matter of leadership. Adhere to corporate credos-code of conduct. Development of IQ,EQ and SQ culture. NABARD, Bank of India, BPCL : NABARD, Bank of India, BPCL Nabard helps 101 million poor people through micro finance program, providing access to credit. Joint liability groups(JLG)- rythu mitra program- credit access to landless farmer's agri laborers, empowers women with micro credit, micro enterprise, created special funds for water shed development, Partnering with corporate like ITC, Tata’s, M and M, ambuja cements etc, many more. BPCL provides alternate source of energy, solar energy for street lights at villages, skill enhancement on modern farming practices, distributes smokless chulas, training for income generation projects. Bank of India, focuses on below poverty line, adopted 101 villages .makes use of four M with NGO for various services. New world is outsourcing would. Anything done most efficiently cost effectively can be done by someone else.. NGO have to develop new tie up with corporate to align themselves to meet the changing needs of society.. Corporate have f und of Rs. 1 laks crores for CSR in India alone. Not to speak of Transnational corporation Networking of NGO and development of search engines for various relevant social projects is the need of the hour. . 4 M- CSR Corporate : 4 M- CSR Corporate Many of the philanthropist activities are not monitored or measured. Unlike Corporate CSR. Four M of corporate social responsibility taken up By corporate has inbuilt 4 M Meaningful, projects Managing the projects Monitor projects Measure projects Bank of India does check NGOs how they operate Effectively and efficiency. Nearly rs 1 lak crores of fund Available with corporate for CSR activities. 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