BUSINESS STANDARD

AND VALUES
BY
BHAVESH KUMAR
09BS0000550
RESONSIBILITY OF BUSINESS
One and only one social
responsibility of business is to
increase profits so long as it stays
within the rules of the game, which
is to say engages in open and free
competition without deception or
fraud.
TASK OF BUSINESS IN SOCIETY
Financial tasks.
Economic and production tasks.
Maintenance tasks.
Adaptive tasks.
Managerial or political tasks.
Social responsibility.
THE SOCIAL CHALLENGE
A business is viewed as a profitable process of
production, distribution and sale of goods and
services.
As a business began operating in international
markets, they had to deal with several ethical issues.
In fulfilling these social responsibilities companies
must select projects carefully and then ensure that
sustained involvement and quality management backs
them.
STANDARD AND VALUES
To avoid ethical dilemmas mangers can follow the
approaches by clutterbuck and drummond and
carmichael’s
Clutterbuck’s approach
Set a clear example.
Publish a code of ethics.
Use reward and punishment mechanisms.
Include ethics in recruitment criteria.
Provide mechanisms for negotiating concerns.
Provide feedback.
Carmichael and Drummond’s approach
Acknowledge the personnel dimension to ethical
behaviors.
Monitor symptoms of personal, ethics-related stress.
Explain your ground-rules to others.
Communicate ethics position.
Draw up personal and corporate ethics checklists.
BUSINESS STANDARD VALUES PRACTICES AT
P&G
We show respect for all the individuals.
The interests of company and that of individuals are
inseparable.
We are strategically focused in our work.
Innovation is the cornerstone of our success.
Mutual interdependency is way of life.
We value personal mastery.
We seek to be best.