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Published by Harsha Reddy

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Published by: Harsha Reddy on Feb 11, 2011
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Ethics and values
‡ ‡ A tool to combat corruption Ethics has been derived from the Greek word ³ethikos´ or ³ethos´ which stands for Custom, Character. Ethics suggests certain Dos & Don¶ts of behaviour of an individual in society. Exhibition of conduct in agreement/consonance with one¶s conscience could be perceived as ethical behaviour.

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Ancient days - Ten commandments of the Christian Bhagwad Gita for Hindus are sources of direction of Ethical Behaviour.

Code of conduct comes from three sources. ‡ ‡ ‡ Internal discipline Organisational code of conduct (Systems & Procedure) Society - What is acceptable? it is the law that lays down

. Effectiveness is the right thing to do Efficiency is to do thing in a right way.- Ethics & Corporate integrity Corporate Governance Now it is required High Ethical standards to rate companies to build Brand equity.

How do we Judge our value system: Seven deadly sins according to Mahatma Gandhi Wealth without work. Science without humanity Pleasure without conscience Religion without sacrifice Knowledge without character. Politics without principle Commerce without morality Each of these perversions reflects lack of values .

Hard work teaches a person the value of money.Value system Test: Mama Test Baba Test - Mother sees your act Children sees your act Money is not the pay off for every kind of work: Parents bring up children with no paycheck in mind. Character is priceless Children think that everything can be bought and sold. . ofcourse is not true.

Money will buy: Amusements.What money cannot Buy: People with character integrity and the right values are not for sale. but not a home . but not sleep Books. but not friends Food. but not happiness A bed. but not wisdom Medicine. but not health Companion. but not appetite A house.

The MIDAS Touch (king of MIDAS) Moral of the story ± Distorted values lead to tragedy. . Sometimes getting what you want may be Bigger tragedy than not getting what you want.Two Tragedies in life Not getting what we want Getting what we donot want.

. Commitment implies: Dependability Reliability Predictability Consistency Caring Empathy A sense of duty Sincerity Character Integrity Loyalty If one of these ingredients is missing. commitment lose strength.Commitment: Integral part of good value system is Commitment Value system is clear it will be easier to make decisions & commitments.

if not kept lead to Broken Houses Abandoned children Poor relationship High stress level Guilt Unfulfilled life Loss of business Isolation Depression . I will still be there Commitments.Commitment says I am willing to sacrifice. because I care I am a person of integrity and you can trust me I will not let you down Despite pain .

Ethics Ethics and values help us to create and maintain a ³magnetic´ culture-one that attracts and retains the best. And they. brightest. in turn. Most choices are not ethical choices Ex: Clothes Buy ± TU ± etc personal choice. will attract the very best customerspeople who give their loyalty. and most integrity-driven employees. . That¶s the competitive advantage you earn by leading to ethics.

Ethical choices reflect objective choice between right and wrong That is why your conscience hurts while making an unethical choice and does not hurt when we make a wrong personal choice Because in ethical matters there is a clear right choice Ethics & values are about fairness and justice They are not about pleasing or displeasing people They are about respecting peoples needs & rights .

Ethical Standard: Taxi Hotel Bill Insurance sales man. What affects Ethics? GREED ± Greed Doctors. Lawyers do unnecessary procedure and surgery FEAR PRESSURE .

Values and ethics  All businesses operate on the basis of core values ± implicit or explicit These include business values and ethical values  .

What is Business Ethics? « the application of ethical values to business behaviour « .

Business Ethics Values Ethics Culture Trust & Reputation AND Financial Performance Conduct Risk .

.When does a business problem involve ethics?     When it is not covered by the law If it raises moral problems for a member of the team If it makes you reflect on what is a correct and incorrect response If you are forced to consider where your obligations and duties lie.

relationships with stakeholders Core business Policies & Codes Governance & Targets strategy Business Behaviour the way we do business = Ethical Business Conduct .ways of working .Business Ethics is about « Ethical Values Ethical commitments / Corporate Responsibility .to whom we are responsible: .

Identifying company values Business values Forward thinking Quality Ethical values Customer focus Efficiency Respect Trust Customer focus Responsibility Honesty Openness Transparency Teamwork Fairness Integrity Profitability Performance Reliability .

Who is interested? NGOs media employees suppliers COMPANY shareholders communities regulators customers stakeholders interested parties competitors .

Business ethics issues for companies    Executive pay Environmental responsibility Discrimination in treatment of people       Speak up policies (whistleblowing) Gifts and entertainment Conflicts of interest Openness with information Lobbying and donations Work / home balance .

What organisations are doing? .

CR. business goals. debate. reporting« Embed values -> behaviour . polices. incentives « leadership. stakeholder engagement. resources. why. make operational « Code of Ethics Code of Conduct ‡Guidance for Staff ‡The Way We Work ‡ Business Principles ‡Our Commitments & Standards « Communicatio n& Awareness Campaigns Training & Reinforcemen t Supporting context and Culture Monitoring & Accountability what. online. dilemmas. implement.Elements of an effective ethics programme Ethical Values -> Ethics Policy embed. business review. compliance. how. CSR « surveys. strategy. understanding as well as information « induction.

clients or your professional career? How would you handle the situation if someone else approached you with the same problem? How will your decision be viewed in the long term? Would upper management approve of your decision? Can you afford to be patient and hold off an immediate decision? .Ethical Decisions Prior to making a decision with ethical considerations. ask yourself these questions:        How important is the consequence(s) of the decision in terms of both the short and long term? Are you looking at the big picture of the problem or are you only relating to the immediate needs of your chain of command? Could the information prevent harm to the reputation of your organization.

welcome efforts of reporting wrongdoing  .Developing Organizational Ethics A company¶s reputation is one of its best resources. consider these suggestions: The outsider's perception of your organization is based on your conduct  Display high quality standards in all situations  To protect and enhance the reputation of your organization. To protect your organization¶s reputation. If that reputation is tarnished for whatever reason ± including unethical behavior by its managers or employees ± the company¶s future can be jeopardized.

handbooks and policy statements Encourage and support firm action to employee misconduct and wrongdoing Provide ethics training courses Recruit employees who embrace similar organizational ethics and values Create a telephone hotline for employees (continued) .Developing Organizational Ethics      Use numerous platforms to communicate your concern to employees including job descriptions.

´ ³Shred that document.´ ³Don¶t worry.´ ³Everyone does it. maybe just this once.´ .´ ³I don¶t want to know. it¶s part of the culture.Some red flags If you hear someone say any of these. you can expect something unethical is about to happen!           ³Well.´ ³What¶s in it for me?´ ³We didn¶t have this conversation.´ ³It doesn¶t matter how it gets done as long as it gets done.´ ³No one will ever know.´ ³We can hide it.

Doing Business Ethically      Improves trust and morale internally Helps to ensure consistent conduct Reduces risk Strengthens external reputation Over the long term will benefit the bottom line .

state your own  If you make a mistake admit it  Make an effort to foster open. direct. honest. and showing commitment to a good relationship with integrity. The following suggestions can help you build a stronger relationship with your manager:  Be open.Dealing With Your Manager The key to developing a strong relationship with your manager involves treating your manager with respect. and sincere communication . and respectful  Show concern and interest in your manager if they value that approach  Give realistic completion dates for projects and then meet them  Work out differences collaboratively  Instead of criticizing your manager¶s point of view.

. They: Build values and ethical awareness: They regularly communicate their shared values. And they have zero tolerance for values violations.Ethical leaders/ Managers share ten behavioral characteristics. operating principles and ethical standards-making sure they are understood. Hold people accountable They hold themselves and others accountable for ethical behavior. supported and accepted.

Use values to drive decisions: They apply their values and guiding principles when making decisions. When an ethical dilemma occurs. and everything they do counts Ensure in-sync policies and practices: Their rules and standards support their values and ethics. Their ethics are displayed in everything they do. they resolve the issue quickly and without fear of reprisal .Lead by example: They earn the right to expect others to performance with integrity when they ³walk the talk´.

Provide values and ethics education: They take time-and devote resources. employees and customers and everyone in their circle of influence.to help people acquire the confidence and skills necessary to translate good beliefs into good behaviors Pay attention to perceptions: They attend to the feelings. Perceptions are reality when it comes to ethics and integrity . opinions and reactions of their colleagues.

pointing fingers. or waiting for others . They select people who believe in these principles and behave with integrity Encourage initiative They motivate people to step up and take the ethical lead instead of complaining. Ethics and values alignments are cumulative outcomes Hire and promote ethical people They use their mission. incremental change They make lots of small improvements in lots of small improvements in lots of areas.Focus on steady. vision and values as criteria for hiring and promotion.

They may be reluctant to entrust you with necessary confidential information.Summary As a manger or an employee. . It¶s important for your staff/peers to have confidence in you and maintain a level of trust in your integrity. your effectiveness may be diminished if your staff/peers think you lack integrity. or they may be reluctant to bring up ethical dilemmas that your organization might be facing.

society & nature ‡ Living with High values (unbecoming conduct) .Elements of Ethics in life ‡ Work Ethic / Devotion to duty ‡ Truthfulness ‡ Absolute Integrity ‡ Transparency & Honesty ‡ Compassion & Charity ‡ Sacrifice ‡ Trust & co-operation ‡ Tolerance & working together ‡ Gratitude & Respectfulness ‡ Harmony with self.

DEVOTION TO DUTY ± We work for him in the form of worship 2. . is categorized as unbecoming conduct. UNBECOMING CONDUCT ± Any act of omission / commission on the part of public servant which subverts or lower the image of the organization to which that public servant belongs in the public eye. ABSOLUTE INTEGRITY 3.Three attributes that make up ethical conduct of a public servant: 1.

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