Business Ethics

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-1

 Ethics - An introduction

Ethics: the study and assessment of morals. The word "ethics"

is derived from the Greek word, ethos (character or custom).

Ethics is that branch of Philosophy, which is concerned with the

rightness or wrongness, goodness or badness of human conduct.

Ethics provides the basis for deciding that a particular action is

morally good or bad.

Ethics are a set of rules that define right and wrong.

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-2

 Meaning of Ethics

Decided by Leads to Taken

together
Good or Bad
Character of Conduct of Series of Right or
Of a Man A Person Actions Wrong,
Moral or
Considered Immoral
as

Known as
By which we Moral
Requires
Can Judge
Moral Judgment

Standards
Again

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-3

 Different Ethical Practices of People

Ethics Moral Value System

Standard Of People
D
I
F
Their Background F
And Childhood E
Experience
R
E
N
By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-4 T
 Ethics
Ethical rules are guides to moral behavior.
Disapproved Approved

Lying Honesty
Stealing Keeping- Promises
Deceiving Helping Others,
Harming others Respecting right
Etc. Of others

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-5

 Objectives of Ethics

Study of Human Behavior

Establishes Norms of Behavior
Ethical
Makes Judgment
Objectives
Suggest Moral Behavior

Expresses an opinion

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-6

 Sources of Ethics

Codes of Conduct The Legal System Religion

By Mr. Rupesh
Philosophical Dahake (G.H.Raisoni School Management
systems Culture Studies ) 1-7 Genetic Inheritance
 VALUES
Social -- the principles,
standards, or quality which
guides human actions. The
quality (positive or negative)
that renders something
desirable or valuable

Economic –
the market or estimated
worth of commodities
By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-8
Those qualities of behavior, thought, and character that society
regards as being intrinsically good, having desirable results, and
worthy of emulation by others.
Values are our subjective reactions to the world around us. They
guide and mold our options and behavior. Values have three
important characteristics
 Developed early in life and are very resistant to change.
 Define what is right and what is wrong.
 Cannot be proved correct or incorrect, valid or invalid,
right or wrong. Values tell what we should believe, regardless
of any evidence or lack thereof.

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-9

 Values
Biological survival , Physical & Mental
comfort, Economic sufficiency, Interest gives life its
Your Interest self-expression, Companionship , & Meaning and
Understanding of the natural & Social Direction
Worlds.

The satisfactions or
Example :- Health , Attainments of these
security, Freedom, Interest are values
Friendship & Knowledge.

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-10

 Types of Values
1. Universal Values:
These are values that there is nearly
undisputed agreement as to the
importance of them. These would
include Sanctity of human life, Peace,
and human dignity.

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-11

2. Instrumental Values:
These are values that can be used to get
something else. In other words the value
is an instrument which allows you to get
some other things. Examples of these
would include Progress (which allows
leisure time), Freedom (Through which
we can get dignity and/or self
actualization), and Knowledge(which
helps us get economic prosperity, and
progress).

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-12

3.Basic Values:
Something has basic worth simply
because of what it is and not necessarily
what it will lead to or because of its
acceptance. Some possible examples of
basic values would include beauty,
artistic expression, and happiness. We
value them because they are an
important aspect of life.

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-13

4. Precondition Values:
These are values that are necessary
before you can get to some bigger
goal. It is similar to the prerequisite
course that you must take in order to
get to the more advanced course.
Some good examples of this type of
value include safety (which is needed
before people can even think about
having anything else), Justice (which
is needed before we can move onto
equality), or the common good
(which must be honored if we can
ever get to a state of peace).

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-14

5. Paramount Values:
Think of this type of value like you think
of Paramount Studios with the large
mountain. It is the value which is
above all other things. Some examples
of this might include freedom (which
many people have given up their lives
for and see as essential to a decent life)
or Holiness of life (which if we do not
value or have renders everything else
worthless).

By Mr. Rupesh Dahake (G.H.Raisoni School Management Studies ) 1-15