OBJECTIVES OF BUSINESS ETHICS
Provide a comprehensive framework for ethical decision making
Examine intensity of ethical issues
To introduce organisational and individual factors into ethical decision making
To improve ethical leadership
To provide leadership styles and habits that promote ethical cultureTo provide major contribution to society
To reduce mal practices
To improve ethical decision making
PURPOSE OF BUSINESS ETHICS
Improves customer confidence
It helps in survival of business
Safeguarding the consumer rights
Stop business malpractises
Protecting employees and shareholders
Develop good relations
Create good image
Smooth functioning of business
Consume movement
Consumer satisfaction
Importance to labour
Healthy competition
FACTORS INFLUENCING BUSINESS ETHICS
Personal code of behaviour
Company policy
Ethical standards imposed on managers
Ethical climate of the country
Unhealthy competition
Abnormal profit motive
Political interference
Political uncertainity
Corruption
Lack of education
ARGUMENTS FOR BUSINESS ETHICS
Should be governed by all voluntary human activities
Business as a cooperative activity needs ethical behaviour
People involve in business need ethics
ARGUMENTS AGAINST BUSINESS ETHICS
Purpose of profit
Managers don't impose their own valves on business
Managers should be single minded
Employer need profit
Problem to equalise both law and ethics
BASIS OF BUSINESS ETHICS
Ethics in marketing
Ethics in fulfillment
Ethics in finance
Ethics in human resource
Ethics in production
CORPORATE SOCIAL RESPONSIBILITY
Corporate social responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of local community and society at large
BENEFITS OF CSR...
Strengthened brand positioning.
Enhanced corporate image.
Increased ability to attract, motivate, and retain employees.
Increased sales and market share.
Increased appeal to investors and financial analysts.
DRIVERS OF CSR
The shrinking role of government
Demands for greater disclosure
Growing investor pressure
Competitive markets
ARGUMENTS IN FAVOUR OF CSR
Business is a creation of society and therefore it should respond to the demand of society
The self interest of business is best served by meeting the aspirations of society
To improve the public image of business
Its is a moral thing to do
ARGUMENTS AGAINST CSR
Responsibility of government
Conflicting considerations of private market mechanism and social responsibility
Disregard of market mechanism
Arbitrary power to businessman
CSR EXAMPLES
IBM UK - Reinventing Education Partnership programme Interactions and sharing of knowledge through a web-based technology - the "Learning Village" software. Culture of openness and sharing of good practice
AVON - a partnership with Breakthrough Breast Cancer, and its Breast Cancer Crusade has raised over 10 million pounds since its launch 12 years ago
TOI's Lead India campaign, campaign for contribution towards educating the poor
CRISIS MANAGEMENT
Cri sis management refers to the appilication of strategies considered to help an organisation agreement with a sudden and significant event
BEST PRACTICES OF CRISIS MANAGEMENT
Planning in detail
Establish monitoring systems and practices to detect early warning signals of an foreseeable crisis
Establishing and training a crisis management team
Involving as many stakeholders as possible in all planning and action stages
About Author / Additional Info:
RAGHU YADAGANTI-PES