Transcript Business Ethics

 SUBJECT:
ENGINEERING
MANAGEMENT (2130004)
 TOPIC:
MEANING
CORPORATE
AND
SOCIAL
ECONOMICS
IMPORTANCE
RESPONSIBILITY
BUSINESS ETHICS
 NAME: VAISHNAVI (058)
 DIVISION: EC
 ENROLLMENT NO :130770111058
 FACULTY NAME: SHRUTA LADOLA
AND
OF
AND
The impact of a company’s actions on society
Requires a manager to consider his acts in
terms of a whole social system, and holds him
responsible for the effects of his acts anywhere
in that system
 CSR allows organizations to do their bit for the
society, environment , and customers
 It goes a long way in creating a positive word of mouth
for the organization on the whole
 CSR plays a crucial role in making your brand popular
not only among your competitors but also media ,
other organizations and most importantly people who
are your direct customers
 It does not require too much investments
 CSR strengthens the bond among employees.
People develop a habit of working together as a
single unit to help others
 CSR also gives employees a feeling of unparalleled
happiness. Employees take pride in educating poor
people or children who cannot afford to go regular
schools and receive formal education
 Meaning:- Business Ethics is the application of ethics
in Business.
 Business Ethics deals with adoption of general ethical
ideas to business behavior.
 Business Ethics are principles, practices and
philosophies that guide the business people in the day
today Business decisions.
 Business Ethics is concerned with the behavior of a
businessman in doing business.
 According to wheeler, “Business Ethics is an art and
science for maintaining harmonious relationship with
society, its various groups and institutions as well as
reorganizing the moral responsibility for the rightness
wrongness of Business conduct”
 Importance: It is generally viewed that good Business Ethics
promote good Business.
 a Business can prosper on the basis of good ethical
standards and it helps to retain the business for long
years.
 Good ethical standard helps to face the challenges in
today competitive field of Business.
 Business has the potential to provide a major
contribution to our societies, in terms of producing
the products and services that we want, providing
employment, paying taxes, and acting as an engine for
economic development and thereby increases the
goodwill.
 The power and influence of business in society is
greater than ever before. Business ethics helps us to
understand why this is happening ,what its
implications might be, and how we might address this
situation.
 The demands being placed on business ro be ethical
by its various stake holders are constantly becoming
more complex and more challenging. Business ethics
provides the means to appreciate and these challenges
more clearly, in order that firms can meet these ethical
expectations more effectively.
 Business malpractices have the potential to inflict
enormous harm on individuals, on communities and
on the environment. Through helping us to
understand more about the causes and consequences
of these malpractices, business ethics helps to create
mutual trust and confidence in relationship.
 Business ethics can help to improve ethical decision
making by providing managers with the appropriate
knowledge and tools that allow them to correctly
identify, diagnose, analyze, and provide solutions to
the ethical problems and dilemmas they are
confronted with.
 Business ethics can provide us with the ability to assess
the benefits and problems associated with different
ways of managing ethics in organizations.
 A business can prosper on the basis of good ethical
standards and it helps to retain the business for long
years.