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What is Ethics?
Ethics is the branch of philosophy that focuses on morality and the way in which moral principles are applied to everyday life. Ethics has to do with fundamental questions such as What is fair? What is just? What is the right thing to do in this situation? Ethics involves an active process of applying values, which may range from religious principles to customs and traditions.
What is ethics?
In latin called ethicus In Greek is called ethikos come from ethos Meaning of ethics is character or manners. Ethics is science of morals, moral principles, recognized rules of conduct The character of a man is expressed in terms of his conduct.
Can be termed as good or bad, right or wrong, moral or immoral
Ethics
Its Dictionary meaning is System of moral principles, rules and conduct The origin of this word is from ETHOS which means Character. Ethics has been defined as ability to distinguish between right and wrong and to act accordingly.
Ethical Decision
Equitable (Justice to all) Morally Correct Good & Fair Appropriate to the Situation.
Example
A secretary who has worked for your corporation for fifteen years is involved in a car accident in which she permanently loses the use of her right hand. Thus, she can no longer effectively type, file, or perform many of the other functions that she previously had performed and that are included in her job description.
Your corporation has a very tight budget and does not have sufficient funds to pay for an additional secretary without reallocating budget items. The injured secretary has been very loyal to your corporation, and you have been very satisfied with her work and dedication. She wants to stay at her job.
Moreover, she does not believe that she could find other employment at this time. Should your corporation fire her, lay her off with compensation, or find a way to retain her?
Code of Conduct Formal statement that defines how the organization expects and requires employees to resolve ethical questions.
Codes of conduct cannot detail a solution for every ethical situation, so corporations provide training in ethical reasoning.
Helping employees recognize and reason through ethical problems and turning them into ethical actions.
(A)Societal Level
Concern for poor and down trodden (compressed). No Discrimination against any particular section or group. Concern for clean environment Preservation of Scarce Resources for Posterity. Contributing to better quality of life.
2. Customers Better Quality of goods Goods and services at reasonably price Not to corner stocks and create securities. Not to practice Discriminating pricing Not to make false claims about products in advertisements.
3. Shareholders Ensure Capital appreciation Ensure Steady and regular Dividends Disclose all relevant information Protect minority shareholders interests Not to window dress balance sheets Protect interest in times of Mergers, Amalgamations and Takeovers
4. Banks and other lending Institutions Guarantee Safety of borrowed funds Prompt repayment of loans
5. Government Complying with Rules and Regulations Honesty in Paying Taxes and other dues Acting as partner in the progress of the country
Nature of ethics
1st , ethics deals with human being only 2nd, ethics becomes a set of systematic knowledge about moral behavior and conduct. 3rd , ethics is a normative science. judge the value of the facts in terms of an ideal. 4th , ethics deals with human conduct, is voluntary and not forced by persons or circumstances.
Ethical concepts
Ideal code of moral principles How people behave, act and conduct themselves ?