Scribd Logo
Upload

Welcome to Scribd!

  • 31 views

    Ethics 1

    Uploaded by

    Yatendra Varma
    The document discusses the concepts of business ethics. It provides definitions of business ethics, managerial ethics, and professional ethics. It notes that business ethics is a complex area that deals with questions of right and wrong in organizational behavior. There are often tensions between individual, organizational, and societal values when it comes to ethical dilemmas in business. While there are no universal ethical codes, the document argues that businesses are generally better off acting ethically as it can increase credibility, trust, and relationships with stakeholders. An example dilemma about a man named Heinz considering whether to steal a drug to save his dying wife is also presented.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd

    Ethics 1

    Uploaded by

    Yatendra Varma
    31 views14 pages
    The document discusses the concepts of business ethics. It provides definitions of business ethics, managerial ethics, and professional ethics. It notes that business ethics is a complex area that deals with questions of right and wrong in organizational behavior. There are often tensions between individual, organizational, and societal values when it comes to ethical dilemmas in business. While there are no universal ethical codes, the document argues that businesses are generally better off acting ethically as it can increase credibility, trust, and relationships with stakeholders. An example dilemma about a man named Heinz considering whether to steal a drug to save his dying wife is also presented.

    Original Description:

    ethis

    Original Title

    Ethics-1

    Copyright

    © © All Rights Reserved

    Available Formats

    PPT, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the concepts of business ethics. It provides definitions of business ethics, managerial ethics, and professional ethics. It notes that business ethics is a complex area that deals with questions of right and wrong in organizational behavior. There are often tensions between individual, organizational, and societal values when it comes to ethical dilemmas in business. While there are no universal ethical codes, the document argues that businesses are generally better off acting ethically as it can increase credibility, trust, and relationships with stakeholders. An example dilemma about a man named Heinz considering whether to steal a drug to save his dying wife is also presented.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    31 views14 pages

    Ethics 1

    Uploaded by

    Yatendra Varma
    The document discusses the concepts of business ethics. It provides definitions of business ethics, managerial ethics, and professional ethics. It notes that business ethics is a complex area that deals with questions of right and wrong in organizational behavior. There are often tensions between individual, organizational, and societal values when it comes to ethical dilemmas in business. While there are no universal ethical codes, the document argues that businesses are generally better off acting ethically as it can increase credibility, trust, and relationships with stakeholders. An example dilemma about a man named Heinz considering whether to steal a drug to save his dying wife is also presented.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    You are on page 1of 14

    Business Ethics

    Is ‘Business Ethics’ an oxymoron ?


    What is business ethics ?

    Hazy, subjective area


    Does not allow scientific analysis
    Suffers from fuzziness and definitional
    issues
    Deals with what is right & wrong,
    good & bad and desired human conduct
    Ethics & Values …..

     At times, used interchangeably

     Values is a set of beliefs germane to the


    individual, group or organisation and basis of
    action…. A thought based concept

     Ethics is a set of actions born out of beliefs,


    attitudes and values…. Essentially an activity
    based concept
    Theoretical positions

    Soul based school


    Universal codes possible – Take recourse
    to spirituality – Vedanta, Hindu, Christian /
    catholic scriptures, yoga and meditation
    Mind based school
    Choice and rationality – Inherent goodness
    of mankind – Soul a metaphysical
    construct
    Defining Ethics …….

    Ethics is person specific

    Ethics is context specific

    Ethics is culture specific


    Definitional nuances

    Managerial ethics – micro view –


    examination of individual level behaviour

    Business Ethics – macro view –


    examination of organisational behaviour

    Professional Ethics – professions


    intimately connected to societal welfare
    Ethical Dilemmas

    Can manifest in a covert manner


    (Actions which defy clear cut solutions)

    Can manifest in an overt manner


    (Action is clearly unethical)
    Fraud, cheating, theft

    In both cases, treatment remains subjective


    Lacznaikk’s propositions

     Ethical choices and conflicts are inherent in all


    business decision making.

     Ethical behaviour exists in a plane above law.


    Lacznaikk’s propositions

     There is no single standard agreeable to all


    managers to be used for decision making.
    Diverse /often conflicting determinants,
    stemming from
    – Individual & Organisational values
    – Professional norms & Societal values.

     Consensus about what constitutes ethical


    behaviour diminishes as one proceeds from
    abstract to specific.
    Can business be better off
    being ethical?
    Credibility

    Trust

    Relationship with stakeholder


    Business ethics …. A re-cap

    Of more than cosmetic value


    No universal codes
    – Person specific,
    – Context specific &
    – Culture specific
    Ethical dilemmas necessarily subjective
    Businesses are better off, being ethical ?
    Heinz Dilemma
     A woman was near death from a special kind of cancer.
    There was one drug that the doctors thought might save
    her. It was a form of radium that a druggist in the same
    town had recently discovered. The drug was expensive to
    make, but the druggist was charging ten times what the
    drug cost him to produce. He paid $200 for the radium
    and charged $2,000 for a small dose of the drug. The sick
    woman's husband, Heinz, went to everyone he knew to
    borrow the money, but he could only get together about
    $1,000 which is half of what it cost. He told the druggist
    that his wife was dying and asked him to sell it cheaper or
    let him pay later. But the druggist said: "No, I discovered
    the drug and I'm going to make money from it." So Heinz
    got desperate and broke into the man's store to steal the
    drug for his wife.
    Questions

    Should Heinz steal the drug? Why ?


    Suppose person dying is a stranger (or a
    pet), should Heinz steal the drug?

    Should people do everything to save a life?


    Heinz broke the law, does it make the act
    morally wrong?

    You might also like