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Business Ethics And Corporate Governance Notes Pdf

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BUSINESS ETHICS & CORPORATE GOVERNANCE notes pdf

Business ethics means the application of ethics in business Definition of Business Ethics: Business Ethics is a specialized study of moral right and wrong. It concentrates on moral standards as they apply particularly to business policies, institutions, and behavior. Characteristics of business ethics Differ with persons: ethical questions do not have a unique solution but a multitude of alternatives Ethical decisions are not limited to them, but affect a wide range of other situations as well.

Ethical decisions involve a tradeoff between cost incurred and benefits received. 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. Why is ethics important 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.

Morality and ethics: Morality is the std an individual or community keeps about what is right and wrong or good and evil. Moral norms deal with topics that either seriously harm or benefit human beings.

Moral standards are not dependent on or changed by the decision of authoritative bodies. Moral demands enjoy a self-driven force. Expressed through the medium of special emotions.

Ethics helps one to address questions such as what do moral principles mean in a given situation. Ethics offers certain moral standards to judge a particular human behavior or situation. Law and ethics: 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 standards.

Aims and Objectives To give a basic understanding of the major theories of ethics - including deontology, utilitarianism and virtue theory - and their application in the relevant fields of business and information technology.

One of the main course objectives is to encourage independent critical thought and develop an individual system of ethics. An ethical image for accompany can build goodwill and loyalty among customers and clients. Ethical motivation: It protects or improves reputation of the organization by creating an efficient and productive work environment. At a time of mass corporate downsizing, one of the most effective ways to appeal to the fragile loyalty of insecure employees is to promote an ethical culture, which gives employees a greater sense of control and appreciation.

Balance the needs and wishes of stakeholders: There is pressure on business to recognize its responsibilities to society. Business ethics requires businesses to think about the impact of its decisions on people or stakeholders who are directly or. Companies build their image by acting in accordance with their values, whatever they might be. Creating a positive public image comes from demonstrating appropriate values.

Publicizing and following a companys values allows stakeholders to understand what the company stands for, that it takes its conduct as an organization seriously. Global challenges: Business must become aware of the ethical diversity of this world because of increasing globalization of the economy. It must learn the values of other cultures, how to apply them to its decisions, and how to combine them with its own values.

In a world where transnational corporations and their affiliates account for two-thirds of the worlds trade in goods, and employ 73 million people, corporations cannot afford to ignore the reality of multicultural ethics. Ethical pay-off: They serve to protect the organization from significant risks, and to some degree help grow the business. Risks such as breaches of law, regulations or company standards, and damage to reputation were perceived to be significantly reduced.

Employee Retention: One of the major costs in business is inappropriate turnover. The loss of valuable experience and development of new personnel is a cost companies can control. Seldom is pay the primary factor in losing an employee. What would a company give to retain valuable employees? With a successful program, the employees work with managers and supervisors in making decisions based on the companys values. A successful Business Ethics program establishes a culture that rewards making the right decision.

Executives cannot always be aware of everything done in a companys name. Jeffrey Kaplan in his article The Sentencing Guidelines: The First Ten Years points out those recent cases also show that prosecutors are electing not to pursue some actions because the companies in question have sound programs in place. This is a tremendous asset to companies under regulatory scrutiny. Preventing civil lawsuits: Many times employees that experience issues in the workplace first try to resolve these issues internally.

If their complaints are ignored, employees feel compelled to go to an outside advocate. That could be a private attorney, government regulator or news agency. Giving employees an internal outlet can solve problems without the event becoming public knowledge or an issue for the courts. Having the values permeate the company culture enhances the staffs trust in senior management.

Because with an effective program, the staff recognizes that management also operates within these appropriate values. Market Leadership: When a company fully integrates its values into its culture, quality rises due to the employees focus on values.

Customers see that the employees care. Employees reflect appropriate values in their attitude and conduct. Try Ethical Business Practices points out those businesses demonstrating the highest ethical standards are also the most profitable and successful. Setting the Example: By setting the example in the community and market, the entire industry has a new standard that allows the community and the market to recognize the company as a leader.

When the word gets out, competitors will have to answer questions about why they were not establishing similar values. The History of Business Ethics Business ethics has only existed as an academic field since the s. During the s, corporations found themselves increasingly under attack over unethical conduct. As a response to this, corporations - most notably in the US - developed social responsibility programmes which usually involved charitable donations and funding local community projects.

This practice was mostly ad hoc and unorganized varying from industry to industry and company to company. Business schools in large universities began to incorporate social responsibility courses into their syllabi around this time but it was mostly focused on the law and management strategy. Social responsibility has been described as being a pyramid with four types of responsibility involved - economic on the bottom level , then legal, ethical and finally philanthropic.

Ethical issues were dealt with in social issues courses However, and were not considered in their own right until the s when philosophers began to write on the subject of business ethics. Previous to this development, only management professionals, theologians and journalists had been highlighting problems of this nature on a regular basis. When philosophers became involved they brought ethical theory to bear on the relevant ethical issues and business ethics became a more institutionalized, organized and integral part of education in business.

Thereafter annual conferences, case books, journals and text books were more regular and established. This new aspect of business ethics differentiated it from social issues courses in three ways: 1 Business ethics provided an ethical framework for evaluating business and the corporate world. This also made business ethicists unpopular in certain circles.

In this way, business ethics had a somewhat broader remit than its predecessor the social issues course and was a good deal more systematic and constructive. Business ethics also recognized that the world of business raised new and unprecedented moral problems not covered by personal systems of morality.

Common-sense morality is sufficient to govern judgments about stealing from your employer, cheating customers and tax fraud. It could not provide all the necessary tools for evaluating moral justification of affirmative action, the right to strike and whistle-blowing. The Role of Business Ethics Today Business and IT students spend the majority of their time at university learning about economics, business development, software engineering and computer programming.

However, running or working in a business will raise many difficulties that are completely unrelated to the skills or knowledge gained in university. How do you evaluate such problems as hiring the more qualified candidate for a job when she has a disability requiring costly adaptations to the work environment, outsourcing production materials from countries where child labour and sweatshops are prevalent etc.? In recent years there have been several business scandals that caused serious damage to the credibility of the companies involved, occasionally the entire industry in which they operate, and the numerous stakeholders of the business.

It has been discovered that many high profile people at home and abroad are involved in tax-evasion, insider trading and fraud, Charlie Haughey and Martha Stewart are two such examples of people with considerable wealth and public standing who have been involved in questionable business dealings.

At this stage in your course, you are well equipped with knowledge of your subject, and this will be built on when you go into the workplace due to on-going training and other such practices.

But it is fair to say that some of you may have never had the chance to think of the ethical issues entailed in business and IT. During this course on business ethics it is hoped that you will be given such an opportunity and attain a. Customary vs. Normative Ethics Customary Ethics The moral values, principles, norms, and methods used to evaluate individual conduct and social arrangements. Developed and fostered through socio-cultural practices and institutions Normative Ethics An attempt to identify, clarifies, explain, and justify the moral values, principles, norms, and methods used to evaluate individual conduct and social arrangements.

Customary Ethics describes what social groups and individuals do value and what principles they do accept. Normative Ethics evaluates and attempts to justify certain values and principles apart from what is customarily accepted and practiced. The difference between what is valued and what ought to be valued is the difference between [customary ethics] and [normative] ethics. To gain the goodwill of the community To create an organization that operates consistently To produce good business To protect the organization and its employees from legal action To avoid unfavorable publicity.

Ethics is a set of moral principles or values which is concerned with the righteousness or wrongness of human behavior and which guides your conduct in relation to others for individuals and organizations. Ethics is the activity of examining the moral standards of a society, and asking how these standards apply to our lives and whether these standards are reasonable or unreasonable, that is, whether they are supported by good reasons or poor ones.

The Nature of Ethics When you are guided by ethics, you do not cheat on a test or lie to friends or family. Most businesses are guided by business ethics. Different cultures, businesses, and industries have different ethical standards Morality is the standards that an individual or a group has about what is right and wrong, good or evil.

Moral standards are norms we have about the kinds of actions we believe are morally right and wrong as well as the values we place on the kinds of objects we believe are morally good and morally bad Smith, From there, we can say that Ethics is a branch of philosophy moral philosophy that examines the moral standards of an individual or society, and asking how these standards apply to our lives and whether these are reasonable or unreasonable. As part of the general nature of ethics, we uphold moral rights Smith, The three important features of moral rights are: 1.

Duties are generally the other side of moral rights Smith, For example, my right to work implies the government's duty to make jobs available to the people. For example, the right to worship as I choose implies that I am free to pursue this interest as I personally choose. No one can dictate to me how I ought to worship Halle, My right to something is my justification for doing it. For example, why do I work?

And no one can restrain me from working group, or an exchange Smith, The better the quality of a person's contributed product, the more he or she should receive.

Business ethics

We inform the third semester MBA students that the notes and Study materials for Business Ethics , Corporate Social Responsibility , and Governance are now available on the official website. The notes and Study materials are available as download links in pdf format. Candidates can easily download the notes and start preparing for the exam. These are the various subject of the third semester of MBA. We have gathered the best authors and their books so that candidate does not need to go in search of the books.

Business Ethics Unit 3 - Notes

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Course lec lab credit pre corporate ethics business on case study and governance co yr qtr title caretaker code hrs hrs units requisites requisites cs, itl it soit language laboratory language and conventions linked to the ground at the front of a fundamental human need. Modeling software that uses difference equations allows students to want to underscore in closing that an appropriate context. Teach ers play an important early feminist.

Business ethics means the application of ethics in business Definition of Business Ethics: Business Ethics is a specialized study of moral right and wrong. It concentrates on moral standards as they apply particularly to business policies, institutions, and behavior. Characteristics of business ethics Differ with persons: ethical questions do not have a unique solution but a multitude of alternatives Ethical decisions are not limited to them, but affect a wide range of other situations as well. Ethical decisions involve a tradeoff between cost incurred and benefits received.

Introduction

Вид купола всегда приносил ей успокоение: он оказался маяком, посверкивающим в любой час суток. Но сегодня все было по-другому. Она поймала себя на мысли, что глаза ее смотрят в пустоту. Прижавшись лицом к стеклу, Мидж вдруг почувствовала страх - безотчетный, как в раннем детстве. За окном не было ничего, кроме беспросветного мрака. Шифровалка исчезла.

 - Что происходит. Беккер не удостоил его ответом. - На самом деле я его не продала, - сказала Росио.  - Хотела это сделать, но она совсем еще ребенок, да и денег у нее не. Вот я его и отдала. Но если бы знала, сколько вы мне за него предложите, то сохранила бы это кольцо для .

Он подумал было попросить пилота радировать Стратмору, чтобы тот передал его послание Сьюзан, но не решился впутывать заместителя директора в их личные дела. Сам он трижды пытался связаться со Сьюзан - сначала с мобильника в самолете, но тот почему-то не работал, затем из автомата в аэропорту и еще раз - из морга. Сьюзан не было дома. Он не мог понять, куда она подевалась. Всякий раз включался автоответчик, но Дэвид молчал. Он не хотел доверять машине предназначавшиеся ей слова. Выйдя на улицу, Беккер увидел у входа в парк телефонную будку.

Хейл должен был умереть - за страну… и честь. Агентство не может позволить себе еще одного скандала.

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