Achieving Business Success by Demonstrating Behavior and Social Responsibility Ethics

y Ethics can be defined as the moral values, rules, or standards governing the conduct of a particular group, profession, or culture. y Business, must take a wide range of social issues into account including how a decision will affects the environment, employees and customer. y Businesses must find the delicate balance between doing what is right and doing what is profitable. y When that balance is skewed, they can experience serious consequences. y In business, as in life, deciding what is right or wrong in a given situation is not always a clear-cut choice. y Businesses have many responsibilities to customers, to employees, to investors, and to a society as a whole. y Benefits of Practicing Business Ethics y In the research study, "Does Business Ethics Pay?" by The Institute of Business Ethics (IBE), it was found that companies displaying a "clear commitment to ethical conduct" consistently outperform companies that do not display ethical conduct. The Director of IBE, Philippa Foster Black, stated: "Not only is ethical behaviour in business life the right thing to do in principle, we have shown that it pays off in financial returns." These findings deserve to be considered as an important insight for companies striving for long-term success and growth. y 7 Principles of Admirable Business Ethics 1. Be Trustful: Recognize customers want to do business with a company they can trust; when trust is at the core of a company, it's easy to recognize. Trust defined, is assured reliance on the character, ability, strength, and truth of a business.

2. Keep An Open Mind: For continuous improvement of a company, the leader of an organization must be open to new ideas. Ask for opinions and feedback from both customers and team members and your company will continue to grow. 3. Meet Obligations: Regardless of the circumstances, do everything in your power to gain the trust of past customer's and clients, particularly if something has gone awry. Reclaim any lost business by honouring all commitments and obligations. 4. Have Clear Documents: Re-evaluate all print materials including small business advertising, brochures, and other business documents making sure they are clear, precise and professional. Most important, make sure they do not misrepresent or misinterpret.

An ethical conflict can arise. titles. not only as a means of gaining a better feel for the progress of your company.). he said he couldn't afford it. Ethical Dilemma An ethical dilemma is any situation in which guiding moral principles cannot determine which course of action is right or wrong. Gaining control of accounting and record keeping allows you to end any dubious activities promptly.or let him go without getting what he needs? What should I do?" Ethical Issue Categories y Conflict of interest Occurs when a person must choose whether to advance their own personal interest or those of others Loyalty versus Truth y Business people expect their employees to be loyal and to act in the best interests of the company. ages. 6. Should I tell him about the competitor -. Maintain Accounting Control: Take a hands-on approach to accounting and record keeping. Become Community Involved: Remain involved in community-related issues and activities. In other words. thereby demonstrating that your business is a responsible community contributor. Regardless of differences. or other types of distinctions. Be Respectful: Treat others with the utmost of respect.. After telling him our price. Ethical dilemmas arise when your own ethical standards conflict with those of some other entity (e. however when individuals must decide between loyalty to the company and truthfulness in business relationships Communications y False and misleading advertising and deceptive personal-selling tactics anger customers and may cause a business to fail. stay involved. but also as a resource for any "questionable´ activities. . Ex: "A customer (or client) asked for a product (or service) from us today. a customer. 7. always treat others with professional respect and courtesy.g. your employer. etc. I know he could get it cheaper from a competitor. positions.5.

As the golden rule says. a doctrine. contributing to the community and quality of life Ethical Responsibilities being ethical. social responsibility is management's acceptance of the obligation to consider profit. y Social Responsibility is voluntary It is about going beyond what is called for by the legal responsibility. and fair. it needs willing acceptance and self-discipline. In a general sense. Corporate Social Responsibility y Is an ethical or ideological theory. consumer satisfaction and societal well-being of equal value in evaluating the firm¶s performance. ³the obligation of business to pursue those policies. thus. avoiding harm Legal Responsibilities obeying the law (society s codification of right and wrong) Economic Responsibilities being profitable 2-14 .´ The Pyramid of Social Responsibility Voluntary Responsibilities being a good corporate citizen. corporation. doing what is right. how an entity whether it is a government. organization or individuals has a responsibility to society and can be defined as. ³Act in a way you would want others to act towards you.Acting responsibly to satisfy society y An important issue affecting business is the question of social responsibility. law cannot impose it. just. to make those decisions or to follow those lines of actions which are desirable in terms of the objectives and values of your society´.

y Quality of Life Issues.Responsibility to the General Public y y y y y The responsibility of business to the general public include dealing with public-health issues. The twin objectives of the scheme are to provide medical facilities to backward villages not having access to basic medical care and to provide self - . The Bank is conducting the following activities at Head Office as well as in 30 Circles of the Bank covering all the branches/Offices y Rural Upliftment y 1. y Companies that are able to attract skilled and knowledgeable employees are better able to meet the challenges of competing on a global basis. It was renamed as Social Banking Cell in July 2001. In order to monitor and oversee the implementation of social welfare activities through all branches Social Action Section was formed in August 1971. Ever since the birth of this Bank. The illustrious founder Sri A Subbarao Pai has shown the way how the Banks could play an important role in solving the social problems. Protecting the environment And «developing the quality of the work force Businesses have responsibilities to support charitable and social causes and organizations that work toward the greater public good. y Consumerism is the public demand that a business considers the wants and needs of its customers in making decisions Responsibility to Employees y One of the most important business resources is an organization¶s work force. Responsibilities to the Customers y Business people share a social and ethical responsibility to treat their customers fairly and act in a manner that is not harmful to them. Rural Clinic ServicesRural clinic service is a novel and unique rural health service scheme in vogue in our Bank since 1983. Case study on social responsibility: COMPANY-CANARA BANK y CANARA BANK has been in the forefront in the service of common man ever since its inception in 1906. a noble tradition has been built up and has set many examples for others which has earned a high place for Canara Bank. y Ensuring Equal Opportunity on the Job. y Workplace Safety.

as part of its Corporate social responsibility (CSR) initiatives has sponsored a Retail Mobile Marketing Van for Display cum Sale of House hold products. every year around 5000 units of blood is donated by staff members and able to save many precious lives. the Bank provides an opportunity to willing and interested workmen staff to work for rural development on full time basis. Artisans etc to get them access to market channels for their quality products. SHGs. 1.employment opportunities amongst unemployed doctors to set-up their clinics in the remote backward villages. Blood Donation With the active cooperation of the staff. 146 workmen staffs have worked as RSVs. popularly known as TRAM Campaign. Rural Service Volunteers y The Bank pioneered an innovative scheme called Rural Service Volunteers in the year 1982. Self Employed women etc.00 lakh is contributed from the employees for helping the needy people. for a minimum period of 2 years. Artisans.Help Groups. 3. 6. Under this programme student. The scheme aims at bringing total transformation in socio-economic fronts of backward villages. TRAM Campaign Ten Rupees a Month. This marketing van will be stationed in important locations of Bangalore to enable the citizens of the city to see and purchase the products manufactured by artisans and other underprivileged women entrepreneurs. articles made by Self . 3. Health Camps Canara Bank through its branches is conducting various types of health camps both in rural and in semi urban areas which lack medical facilities. patients suffering from major diseases. the Bank has assisted 487 doctors to set up rural clinics in remote rural areas. 2. disabled from weaker sections of society are assisted. through coordinated approach y So far. 2. This Mobile Van thus provides a platform for publicity of products in the entire city instead of being restricted to one area/locality. y So far. solar powered. It is a unique effort in helping the disadvantaged groups in marketing their products. . swiping machine for credit/debit card acceptance. Every year about Rs. y This van is custom-built high tech. is intended to actively involve all staff members in the welfare activities. Under the scheme. Small women entrepreneurs. Mobile Sales Van y Women Empowerment y A Pioneer Effort for Helping Women Entrepreneurs Canara Bank. y This is a hand holding effort by Canara Bank in support of small women entrepreneurs. equipped with computerized billing.

7. utensils etc through voluntary contributions in cash and kind from our employees and also arranging contributions from the Bank. orphans. earthquake cyclones by providing clothes.4. Assisting the Victims of Natural Calamities. etc. Poor meritorious students of Government Schools are honored every year. Assisting the NGOs CANARA BANK is always assisting the NGOs working for the welfare of disabled. School Bags. Educational Aids. flood. Many orphan students are helped financially to continue their education.Welfare Activities for Students Every year more than One Million Rupees is spent for Primary Education by providing Notebooks. destitute and conducting programmes in co-ordination with them. food. Uniforms. Self Employment and Career Guidance For students and unemployed youth these programmes are conducted to guide them to choose their career path. . Many orphan and slum students are sponsored free computer training to help them to earn their livelihood. senior citizens. 6. Initiating relief measures to the victims of drought. 5.

Sign up to vote on this title
UsefulNot useful