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        word meaning- character

   Set of standards or code or value system,
    worked out from human reason & experience
    by which free human actions are determined
    as ultimately right or wrong, good or evil.

   Business ethics-appl. of ethics in business
Nature of ethics in business
   In busi. 2 types of ethical problem

    >overt- bribary, theft, sabotage etc

    >covert- complex and not transparent,
    defy ethical solutions
   A decision is ethical if it is:

    >Right- moraly right and due
    >Good- brings good for all concerned
    >Equitable- just & equal
    >Proper- appropriate & acceptable
    >Fair- Honest & due
    >just- justice is done
   Ethics is unstructured

         moral standards

          value system

    background & childhood exper.

   Ethics express some obligation to others
Characteristics of BE
 Differ with persons
    ethical questions do not have a unique
  soln but a multitude of alternatives
 Ethical decisions are not limited to
  themselves, but affects a wide range of
  other situations as well.
 ED involves a trade off between cost
  incurred and benefits received.
 Consequences are not clear
 Every person is individually responsible for the
  ethical or unethical decision and action that he
  or she takes
 Ethical actions are voluntary human actions
Why is ethics impo. in business?
 Ethics corresponds to basic human needs
 Values create credibility with the public
 Values give mgmt credibility with
 Values help better decision making
 Ethics and profit
 Law cannot protect society, ethics can.
Sources of ethics
   Religion

   Cultural experience

   The legal system
     Morality and ethics
  Morality is the std an individual or community
  keeps about what is right and wrong or good
  and evil.
 Moral norms deals with topics that either
  seriously harm or benefit human beings
 Moral stds are not dependent on or changed
  by the decision of authoritative bodies
 Moral demands enjoys a self-driven force
 Expressed through the medium of special
 Ethics helps one to address questions such as
  what do moral principles mean in a given
 Ethics offers certain moral stds to judge a
  particular human behaviour or situation
Ethics & Law
 Law is universally accepted, published document
 Law says, what action should be taken against a
  person who violates the provisions of legal
  system whereas the consequences of unethical
  action is not clear
 Some laws have nothing to do with morality
  while some may even violate our moral stds.
          Ethical theories
1.Utilitarianism (consequence based)
Teleological Theories
 The word teleological is derived from the
 Greek word telos, which refers to an end.
 Actions are justified on teleological theories
  by virtue of the end they achieve, rather than
  some feature of the actions themselves.
   an action is said to be right if it produces good
    results or its achieves good consequences.

2 types
>act-consequentialism: morality of an action
  depends on its consequences
>rule-consequentialism: focusing only on the
  consequences can lead people to committing
  outrageous action.
2.Deontological (duty based theory)
   The word deontological derives from the deon,
   the Greek word for duty.
 people behave ethically as they find it their
   solemn duty towards that
 Suggests that we have moral duties to others
 Stress the importance of respecting a
   person’s autonomy
 It also stresses that one has duties to oneself
3. Social justice theory
4. Ethics of care

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