Business
Ethics
Today's
Focus:
Define and discuss
what business ethics
means.
Reflect on key
business principles .
Reflection
Exercise
Ethical dilemmas
Collaboration vs. Cheating
Professors call it
cheating, students call it
helping your neighbor.
Where do we draw
the line? What is the
right way to deal with
this?
Define acceptable
collaboration.
What ethical principle is
involved in this dilemma?
What is meant by ethics?
Ethics are moral principles or values held by
individuals or groups
Ethical behavior is doing what is right and
moral.
Business ethics are the values and
principles which operate in the world of
business. They form the moral framework of
the organisation.
Business ethics help firms
decide what actions are right or
wrong in certain circumstances.
E.g. Should a firm relocate to a
country paying lower level of
wages?
Should a firm release a life-saving
medicine after limited testing?
Should advertising aimed at
children be restrained?
Business
Ethics
Ethics in a profession
refers to
contemporary
organizational
standards, principles,
sets of values and
norms that govern
the actions and
behavior of an
individual in the
business
organization.
Ethical values and principles
Ways in matter for everyday business
activities.
which They are an inherent part of
ethics successful business.
matter
Ethical Principles in
Business
Loyalty: Acting in the best interests of the organization.
Maintaining confidentiality.
Avoiding conflicts of interest.
Fairness: Providing equal opportunities.
Avoiding favoritism.
Considering all perspectives.
Not exploiting others' weaknesses.
Caring: Showing empathy and compassion.
Prioritizing well-being of others.
Seeking solutions that benefit all stakeholders.
Promoting a culture of caring within the organization.
Reflection
Exercise
Provide examples of how
executives can
demonstrate:
1. loyalty
2. fairness
3. caring
4. respect for others in
different situations
Ethical Principles in
Business
Honesty: Being truthful in all communications.
Acting with integrity.
Being transparent in your dealings.
Building a culture of honesty within the
organization.
Integrity: Alignment of thoughts, words, and
actions.
Doing the right thing, even when it's difficult.
Being true to your values.
Acting with consistency.
Doing what you say you'll do.
Ethical Principles in
Business
Respect For Others: Valuing everyone's
perspectives and contributions.
Treating all individuals with dignity, regardless of
their role or background.
Showing empathy and compassion
Law-abiding:
Complying with all applicable laws, rules, and
regulations.
Keeping Promises: Your word is your bond.
Demonstrating integrity by fulfilling promises, even
when circumstances change.
Ethical Principles in Business
Commitment to Excellence:
Striving for excellence in all areas.
Continuously learning and improving your skills.
Seting high standards for yourself.
Leadership:Your actions speak louder than words.
Promoting ethical behavior by setting a positive example.
Making ethical decisions, even when it's difficult.
Reputation and Morale: A strong reputation attracts customers and top talent
Emphasizing a positive reputation and a strong sense of pride within the
organization.
Celebrating successes and recognizing contributions.
Ethical Principles in
Business
Accountability:
Being responsible for the impact of your actions.
Taking responsibility for the ethical quality of your decisions
and their outcomes.
Reflection Exercise
Reflect on the qualities of an ethical
role model you admire.
Reflect on what factors contribute to a
positive work environment and high
morale.