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“Ethics consists of the standards of behavior that our
Ethics is a set of moral principles or values which is concerned with the rightness or wrongness of human behavior and which guides your conduct in relation to others (for individuals and organizations).
Business ethics is a form of applied ethics that
examines ethical principles and moral or ethical problems that arise in a business environment.
Eg: honesty cannot consist in telling the truth once. It is the tract of a person who tells the truth as a general practice. Virtue means excellence and ethics was concerned with excellence of human character.Virtue Ethics Virtue as a character trait that manifests itself in habitual action. .
as being morally virtuous and advantageous for the good life. compassion. Virtue ethics focuses on persons and their character traits rather than actions. such as “courage. Virtue = excellence of human character . Virtue ethics identifies certain character traits. sincerity. and reliability.
. Two factors you will be facing are: A dilemma. you begin to come across actual dilemmas.the alternatives or options seem equally balanced. Once you become deeply involved in a particular issue or a situation.ETHICAL DILEMMA A dilemma is a situation that requires a choice between equally balances arguments or a predicament that seemingly defines a satisfactory solution.
This is also called an ethical paradox. .that is an ethical factor. An Ethical dilemma is a complex situation that will often involve an apparent mental conflict between moral imperatives in which to obey one would result in transgressing another..An ethical dilemma : the decisions for action when it is made. will have an important impact on the welfare of the people.
Examples of Complex Ethical Dilemmas 1) A customer asked for a product from you today. After telling him your price. he said he could not afford it. Should you tell him about the competitor -. you know he could get it cheaper from a competitor.or let him go without getting what he needs? What is the guideline for us? The societal interest or the personal interest? .
Ethical leadership Leadership is about raising the aspirations of followers and enthusing people with a desire to reach for the stars. Leadership is about making a difference to others. For instance. . Mahatma Gandhi created a vision for independence in India and raised the aspirations of our people.
. Three kinds of leadership: Amoral. Ethical leadership is making a difference to others by drawing on ethical principles and values. Value-based. Ethical.
how we live and how we could live better.Ethical leaders “Ethical leaders speak to us about our identity. what we are and what we can become.” .
Whistle blowing .
The term whistleblower comes from the phrase "blow the whistle. or a company. rule. for example. and corruption. . The alleged misconduct may be classified in many ways. such as fraud. A whistleblower is a person who tells the public or someone in authority about alleged dishonest or illegal activities (misconduct) occurring in a government department." which refers to a whistle being blown by a policeman or a referee to indicate an activity that is illegal or a foul. regulation and/or a direct threat to public interest. a violation of a law. health/safety violations. a public or private organization.
law enforcement or other local. . In these cases. In some cases. or federal agencies. External whistleblowers. state. who report misconduct on a fellow employee or superior within their company. the media. report misconduct on outside persons or entities. depending on the information's severity and nature. however. whistleblowers may report the misconduct to lawyers. external whistle blowing is encouraged by offering monetary reward. Most whistleblowers are internal whistleblowers.
A "whistleblower" discloses information he or she reasonably believes evidences: • A violation of any law. rule • An abuse of authority or regulation • A substantial and specific danger • Gross mismanagement to public health • A gross waste of funds • A substantial and specific danger to public safety .
In December 2003. They had him shot dead. His name was leaked by someone in the official establishment and he was killed. . Samples of fuel from the pump indicated adulteration. was shot dead on November 19 for drawing attention to irregularities in the quality of fuel being marketed in some petrol pumps. Manjunath had ordered the closure of an IOC petrol pump in Lakhimpur Kheri in UP for selling adulterated fuel. Manjunath Shanmugam. drew the attention of the Prime Minister’s Office to corruption in the Golden Quadrilateral Project. Satyendra Dubey. It appears that the owners of the petrol pump decided to act before more of their illegal activities were exposed. a young manager with Indian Oil Corporation (IOC) and an IIM graduate. an engineer in Bihar.
In August 2010. 2010 was introduced into the Parliament of India. Lok Sabha. . Legal protection The government of India has been considering adopting a whistleblower protection law for several years. the Public Interest Disclosure and Protection of Persons Making the Disclosures Bill.2011. It was approved by the cabinet in june. 2002. In 2003. the Law Commission of India recommended the adoption of the Public Interest Disclosure (Protection of Informers) Act.
Trade secrets .
A trade secret is a formula. a pattern for a machine or other device. instrument. a process of manufacturing. or compilation of information which is not generally known or reasonably ascertainable. or even a list of customers. treating or preserving materials. A trade secret may be a formula for a chemical compound. . process design. practice. by which a business can obtain an economic advantage over competitors or customers. pattern.
often information." referred to as "confidential The subject matter of trade secrets is usually defined in broad terms and includes sales methods. and manufacturing processes. . consumer profiles. distribution methods. Every nondisclosure agreement defines its trade secrets. lists of suppliers and clients. advertising strategies.
Financial information Technical & scientific information TRADE SECRET Commercial information Negative information .
Examples of trade secrets * Business methods * Business plans * Business forecasts * Market analyses * Marketing plans * R & D information * Business relationships * Product information * Pricing information * Financial information * Profit margin information .
when they have discovered the process or formula by independent invention and are keeping it secret. So can the employees (who have been instructed not to disclose the secret) involved in its use.Who Can Know a Trade Secret Obviously. . Others may also know of a trade secret independently. Other people can know the trade secret if they are pledged to secrecy. as. the proprietor of a business can know its trade secrets. for example.
the nature of a trade secret is an important factor in determining the kind of compensation you could get if you sue someone for damages who has stolen your trade secrets. Loss of trade secrets can cost companies millions of dollars. If the trade secret consists of a device or process which is a novel invention and has patentable . However. . and require the accounting of any profits derived by someone who acquired the trade secret wrongfully.Punishment for Stealing Trade Secrets The unauthorized use of such information by persons other than the owner is regarded as an unfair practice and a violation of the trade secret. the court would ordinarily prevent the further use of.
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