EMBEDING ETHICS AND VALUES IN ORGANISATI

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EMBEDDING ETHICS AND VALUES IN ORGANISATIONAL STRUCTURE : 

GROUP---4 Arun Sharma- 45 Gaurav Chaudhary- 03 Mukul Srivastava- 57 Neeraj- Shubham Srivastava-14 Sudhanshu Khatri- 53 September 24, 2009 1 Lal Bahadur Shastri Institute of Management, Delhi EMBEDDING ETHICS AND VALUES IN ORGANISATIONAL STRUCTURE

Flow of Presentation : 

Ethical Dilemma in Business Ethical Dilemma – the situations and pattern Why should business act ethically? Ethical Reasoning Resolving an Ethical Dilemma What is CSR? Gautama Buddha’s Eightfold Path Self Regulation Relation of ethics with Economics, Law, Management and role of manager September 24, 2009 2 Lal Bahadur Shastri Institute of Management, Delhi Flow of Presentation

Ethical Dilemma in Business : 

A dilemma exists when we have a choice between two or more options. A business dilemma exists when an organizational decision maker faces a choice between two or more options that will have various impacts on the organization’s profitability and competitiveness. September 24, 2009 3 Lal Bahadur Shastri Institute of Management, Delhi Ethical Dilemma in Business

Ethical Dilemma – the situations : 

A situation where you must choose between different options that are, or seem to be equally unfavorable. A situation where… Tension, paradox, or conflict in determining a right action. All solutions appear to be unfavorable or have undesirable consequences. Conflict between doing what you thought you should do and what the organizational norms suggest. Difficult to act, to know what to do, or to know how to resolve the situation. An undesirable circumstance, based upon the risks you perceive. September 24, 2009 4 Lal Bahadur Shastri Institute of Management, Delhi Ethical Dilemma – the situations

Ethical Dilemma : Pattern : 

September 24, 2009 5 Lal Bahadur Shastri Institute of Management, Delhi Ethical Dilemma : Pattern

Why should Business act Ethically? : 

To meet stakeholder’s expectations To prevent harm to the general public To build trust with key stakeholder groups To reduce conflict among employees To protect their own employees To create an environment in which workers can act in ways consistent with their values September 24, 2009 6 Lal Bahadur Shastri Institute of Management, Delhi Why should Business act Ethically?

Ethical Reasoning : 

Relativistic Ethical Reasoning No fixed rules of right or wrong Behavior is a function of personal tastes and preferences Consequence Based Ethical Reasoning Right behavior brings out the best consequences Utilitarianism – Greater Good for Greater Number Principle Based Ethical Reasoning Focuses on following particular rules, regardless of consequences September 24, 2009 7 Lal Bahadur Shastri Institute of Management, Delhi Ethical Reasoning

Resolving an Ethical Dilemma : 

Analyze the Consequences Who will be helped by what you do? Who will be hurt? Kinds of Benefits and Harms. How does all this look over long-run and short-run? Analyze the Actions How the actions measure up against moral principles like honesty, fairness, equality, etc. Make a Decision Looking into positives and negatives, decide. September 24, 2009 8 Lal Bahadur Shastri Institute of Management, Delhi Resolving an Ethical Dilemma

What is Corporate Social Responsibility? : 

Behaviour & conduct/good governance Responsible impact on society Accountability & transparency Stakeholder engagement Reputation & risk management Socially responsible investment September 24, 2009 9 Lal Bahadur Shastri Institute of Management, Delhi What is Corporate Social Responsibility?

The issues being addressed by CSR : 

Human rights Plant closures Charitable giving Work life balance Cause related marketing Environmental pollution Sustainability…… These mean different things to different firms September 24, 2009 10 Lal Bahadur Shastri Institute of Management, Delhi The issues being addressed by CSR

Gautam Buddha’s Eightfold Path : 

September 24, 2009 11 Lal Bahadur Shastri Institute of Management, Delhi Gautam Buddha’s Eightfold Path

Self Regulation : 

Self-regulation are efforts made by an individual to change their response to a given situation. Self-regulated responses are actions, thoughts, feelings, and desires. Individuals need to regulate some desires while motivating themselves toward virtuous action. September 24, 2009 12 Lal Bahadur Shastri Institute of Management, Delhi Self Regulation

Self Regulation : 

September 24, 2009 13 Lal Bahadur Shastri Institute of Management, Delhi Self Regulation

Self Regulation : 

Habits created through Choice Virtuous action involves making choices, a significant feature of self-regulation. Impose automatic self-regulation via directives, options, rules or norms, perceived rewards or punishments, social pressures, and other contextual factors to form a desire to act. Desire to act means engaged in a conscious self-regulation to accept/reject taking action on the desire. September 24, 2009 14 Lal Bahadur Shastri Institute of Management, Delhi Self Regulation

Relation of ethics and economics : 

Economics provides explanatory account of the choices of economic actors, individuals or firms. Profit is the moto. Ethics considers many other kind of reasons, including right and justice and non economic values. Taking decisions on ethical consideration is to employ two levels of reasoning September 24, 2009 15 Lal Bahadur Shastri Institute of Management, Delhi Relation of ethics and economics

Relation of ethics and Law : 

Law prevails in public life Law is clearly defied set of enforceable rules that applies to everyone, wher3eas ethics is a matter of personal opinion. Why law is not enough The fiduciary duty of a person , such as trustee, to act in the best interest of the beneficiary. Many forms of conduct permissible in a workday for those acting at arm's length are forbidden to those bounded by fiduciary ties. A trustee is held something stricter that the moral of the market place. Not honesty alone, but the punctilio of an honor the most sensitive, is then the standard of behavior. Case – Meinhard v. Salmon September 24, 2009 16 Lal Bahadur Shastri Institute of Management, Delhi Relation of ethics and Law

Ethics and management : 

Ethical management and management of ethics It is necessary for managers to possess some specials knowledge. Many ethical issues have a factual background that must be understood. Manger must be aware of the motivation of whistle blower. To make ethical decisions skills are needed that come with experience. Understanding of international situation. September 24, 2009 17 Lal Bahadur Shastri Institute of Management, Delhi Ethics and management

Ethics and role of managers : 

Managers as economic actors Managers as trustees Managers as qusi public servants September 24, 2009 18 Lal Bahadur Shastri Institute of Management, Delhi Ethics and role of managers

BUSINESS ETHICSEXTRACTS FROM RAMAYANA AND MAHABHARATA : 

. September 24, 2009 19 Lal Bahadur Shastri Institute of Management, Delhi BUSINESS ETHICSEXTRACTS FROM RAMAYANA AND MAHABHARATA

Slide 20: 

Lakshman and Sita’s decision to accompany Ram September 24, 2009 20 Lal Bahadur Shastri Institute of Management, Delhi

Slide 21: 

September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 21 Bharata refuses to take the throne

Slide 22: 

September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 22 Sita’s abduction by Ravan

Bali’s killing by Ram : 

September 24, 2009 23 Lal Bahadur Shastri Institute of Management, Delhi Bali’s killing by Ram

Slide 24: 

September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 24 Sita’s Fire Test

Slide 25: 

September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 25 Bhishma’s Pledge

Slide 26: 

September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 26 Draupadi’s Cheer Haran

Slide 27: 

September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 27 Duryodhan disagrees to give even 5 villages

Killing of various warriors like Bheesma Pitamah, Abhimanyu, Karan, all Pandava’s son, Duryodhan etc. : 

September 24, 2009 28 Lal Bahadur Shastri Institute of Management, Delhi Killing of various warriors like Bheesma Pitamah, Abhimanyu, Karan, all Pandava’s son, Duryodhan etc.

When Yudhishthir says ”Ashwathama maro naro ya (kunjaroo)” : 

September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 29 When Yudhishthir says ”Ashwathama maro naro ya (kunjaroo)”

So please be ethical towards yourWorkSocietyFamily And most important for yourself…................. : 

So please be ethical towards yourWorkSocietyFamily And most important for yourself…................. Thank You September 24, 2009 Lal Bahadur Shastri Institute of Management, Delhi 30

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