business ethics and corporategovernance

04-05-2014

ORGANIZATION ETHICS and

Corporate governance

What is integrity?

• Ethics is the subset of philosophy that focuses

upon morality as well as the way in which meaning

principles will be applied to everyday routine.

• Ethics has to do with important questions

including " What is fair? ” " What is just? ” " Precisely what is

the right activity in this situation? ”

• Ethics involves an active procedure for applying

values, which may cover anything from religious

rules to customs and traditions.

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04-05-2014

What is organization ethics?

• Business values focuses on what constitutes

right or wrong behavior in the world of business.

• Corporate organization executives possess a

responsibility to their investors and

staff to make decisions that will aid their

organization make a profit. But also in doing so,

businesspeople also have a responsibility to the

general public and themselves to maintain moral

principles.

• Although integrity provides ethical guidelines, people

must apply these recommendations in making decisions.

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Integrity that applies to business (business ethics) can be not a

separate theory of ethics; rather, it is an using

ethics to business scenarios.

• Though all people have moral responsibilities, higher ethical specifications are imposed upon specialists who

function as social versions, such as medical professionals, attorneys,

and businesspeople.

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The partnership Between Law

and Ethics

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Legislation is an expression of the honest beliefs of the society.

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Law and ethics won't be the same thing. Problem, " Is usually an take action legal? ” is different from the question, " Is a great act moral? ”

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The law are not able to codify almost all ethical requirements. Therefore , a task might be underhanded, yet not necessarily illegal. For instance , it might be unethical to rest to your family members, but it is usually not necessary illegitimate

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In the same way, just because a great act is definitely illegal will not necessarily mean it truly is immoral.

Beginnings of Underhanded Behavior

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Personal Ethics

Decision-Making Processes

Company Culture

Management

Unrealistic Functionality expectations

Main Psychological Blocks

Personality Barriers

Defensive Mental Traps

Avarice

Corruption

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Underhanded Business practices

• (I) With Respect to Customer:

A code of perform is presented by Authorities for Fair

Business Procedures (CFBP) due to the members.

The following are the shows of code of

conduct of CFBP:

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To fee fair and reasonable prices.

To ensure accuracy in weights and measures.

To ensure that intermediaries do not manipulate the amount paid.

To fulfill cultural responsibility toward various sections of the public such as employees, customers, shareholders, federal government,

suppliers, rivals, dealings, plus the general public.

To pay attention to consumer rights.

To provide product warranty in clear terms

Not to take part in hoarding and profiteering.

Not to adulterate the goods.

Not to trade in sub- standard items, and also smuggled products. Never to undertake deceiving and misleading advertisements.

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Importance: • Common of habit

• Authentic North Principles to lead a

Business

How Ethics Could make Corporate

Governance More Meaningful?

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Corporate and business governance is meant to run businesses ethically in a manner such that all stakeholders – credit card companies, distributors, customers, employees, the society at large and governments

are worked in a reasonable manner.

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Good corporate governance will need to look at all stakeholders and not simply shareholders along. Otherwise, a chemical firm, for example , may maximize the net income of shareholders, but

completely violate every environment laws and produce it impossible for the individuals around the place to lead a typical life.

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Corporate governance is certainly not something which regulators have

to impose on a management, it should come from inside. There is no justification in making statutory provisions for enforcing moral...