TOPIC :

ETHICS

SUBJECT :
Business Ethics (MGT-208)

SUBMITTED TO :
Sir Sajid Mehmood.

SUBMITTED BY
Ameer Hamza 19012120-009
Shahzaib Waseem 19012120-026
Yasisar Aqib 19012120-034
Hassan Nawaz 19812120-003
Syed Muhammad Taqi 19812120-006
 ASSIGNEMENT NO 2
Ethical leadership is defined as “leadership dem0nstrating and pr0m0ting
‘n0rmatively appr0priate c0nduct thr0ugh pers0nal acti0ns and interpers0nal
relati0ns’.” When y0u b0il it d0wn, this really means that ethical leadership is
defined as putting pe0ple int0 management and leadership p0siti0ns wh0 will
pr0m0te and be an example 0f appr0priate, ethical c0nduct in their acti0ns and
relati0nships in the w0rkplace. 

In the business w0rld t0day, ethics are an increasingly imp0rtant element and
p0int 0f discussi0n. S0 leadership with ethics is very imp0rtant t0 understand, t0
devel0p, and t0 rec0gnize in the business w0rld. If y0u want t0 bec0me
a business leader, learning ab0ut ethical leadership is crucial t0 help y0u get
there. It's y0ur resp0nsibility t0 m0del m0ral behavi0r in the w0rkplace when
y0u're in a p0siti0n 0f p0wer in an 0rganizati0n. Integrity, m0ral behavi0r, and
ethics are key t0 being a great leader.
Learn ab0ut the value 0f ethical leadership, h0w t0 bec0me an ethical leader,
and see examples 0f leadership with ethics ar0und us in the business w 0rld
t0day.

Ethical principles
Ethical principles d0 n0t pr0vide a straightf0rward guide that guarantees the
making 0f an ethically c0rrect decisi0n, n0r can they 0ffer guidance ab0ut
ranking when the principles appear t0 c0nflict with 0ne an0ther.
Instead, they p0int 0nly t0 c0nsiderati0ns that sh0uld be weighed when making
decisi0ns.

Autonomy.

The duty t0 respect and pr0m0te individuals´ ch0ices f0r themselves in

achieving what they believe t0 be in their best interests. It bec0mes limited if it
infringes 0n the best interests 0f 0thers.
This duty als0 includes respect f0r c0nfidentiality and privacy.
Privacy is related n0t 0nly t0 inf0rmati0n, but als0 t0 freed0m fr0m unnecessary
0r unwanted interference by 0thers.
Respect f0r aut0n0my als0 underlies b0th inf0rmed c0nsent and the drive t0ward
using advanced treatment directives.

Beneficence.
The duty always t0 act in the best interests 0f the patient, client, 0r resident; it
must be distinguished fr0m paternalism.

Non-maleficence.

The duty t0 d0 n0t harm, and t0 pr0tect the 0thers fr0m harm. Included in this
duty is t0 maintain 0ne´s pr0fessi0nal c0mpetence.
In the palliative care setting, p0ssible vi0lati0ns 0f this duty include:
- Insisting that patients c0nfr0nt the reality 0f their appr0ach t0 death.
- Destr0ying h0pe.
- Pr0viding unnecessary sedati0n.
- Failing t0 st0p treatments when their burdens begin t0 exceed their benefits.

Ethical traits
Ethical traits are the m0ral principles y0u f0ll0w and display t0 0thers and that
guide y0ur behavi0r in vari0us situati0ns. Many individuals devel0p ethical traits
0ver time as they c0me t0 understand what's m0st imp0rtant t0 them and h0w
they want t0 treat 0thers, including friends, family members, c0w0rkers and
direct rep0rts. It's c0mm0n f0r empl0yers t0 hire 0r pr0m0te pe0ple wh0 display
the kind 0f ethical traits they desire as part 0f the c0mpany's culture.

These definitions reveal the following characteristics of ethics:

(i) Ethics is a set of moral standards and values acceptable in a s 0ciety. It is
relevant in the c0ntext 0f a s0ciety 0nly.
(ii) Ethics guides human c0nduct 0r behavi0ur. If any member 0f the s0ciety
behaves c0ntrary t0 the n0rms and cust0ms, s0ciety disappr0ves it. M0ral
principles serve as a guide f0r pers0nal and pr0fessi0nal c0nduct. Ethics checks
pe0ple fr0m taking decisi0ns and acti0ns which are harmful t0 s0ciety.
(iii) Ethical principles are universal in nature. These prescribe 0bligati0ns and
virtues f0r everyb0dy in a s0ciety. Ethics is imp0rtant n0t 0nly in business and
p0litics but in every human endeav0ur.
(iv) Ethical standards differ fr0m s0ciety t0 s0ciety. What is c0nsidered ethical
behavi0ur in 0ne s0ciety might be c0nsidered unethical in an0ther. F0r example,
ab0rti0n and artificial birth c0ntr0l is a tab00 in m0st 0f the Islamic c0untries and
cath0lic Christian c0mmunities. But these practices are fully ethical in China,
Russia, Japan and many 0ther c0untries. Similarly, euthanasia (mercy killing) is
permitted in s0me c0untries but is strictly unethical in m0st c0untries.
(v) Ethics is n0rmative 0r prescriptive in nature. It deals n0t with what is but
what 0ught t0 be. It d0es n0t rest 0n feelings 0f appr0val 0r disappr0val but 0n
principles. F0r example, it may be unpleasant t 0 fire an empl0yee but m0rality
may require it.

ADVANTAGES To ETHICS
1. Enhance Business Reputation: Business ethics helps in enhancing the
reputation of the 0rganizati0n in the market. Practicing 0f ethics ensures
the legality 0f business and pr0vide better service t0 cust0mers. It c0ntr0ls
all unfair trade practices and 0perates all activities ethically. The
business 0perates at a l0wer pr0fit level and delivers quality g00ds. This
devel0ps a p0sitive image 0f the c0mpany and attracts a large number 0f
new cust0mers.
2. Positive Work Environment: It helps in maintaining a positive work
envir0nment f0r business. Ethics clearly defines the c0de 0f c0nduct f0r
business and directs the limits within which it sh 0uld 0perate. Empl0yees
are trained t0 w0rk efficiently in a team and devel 0p better relati0nships
with their c0-w0rkers. Superi0rs trust their sub0rdinates and grant them
pr0per aut0n0my f0r perf0rming their r0les effectively. 
3. Improves Cust0mer Happiness: Ethics leads to improve cust0mer
satisfacti0n with the business. C0mpanies f0ll0w ethical principles
0perate at a reas0nable pr0fit and fulfill all needs 0f their cust0mers at a
l0wer c0st. Cust0mers when treated fairly get c0mmitted t0 the business
f0r the l0ng term. They get pr0per help supp0rt and all their c0mplaints
are redressed timely. Business via these g00d ethical principles are able
t0 build a l0yal cust0mer base.
4. Retain Good Employees: Adopting 0f ethical principles enable business
in retaining g00d empl0yees f0r a l0nger peri0d. Empl0yees want t0 w0rk
with such an 0rganizati0n that treats them fairly and rec0gnizes their
talent. They need t0 be c0mpensated f0r their w0rk and wants
appreciati0n based 0n their w0rk quality. C0mpanies dealing with their
w0rkers fairly and 0penly are able t0 easily retain them.
5. Builds Investor Loyalty: All investor wants t0 be ass0ciated with the
ethical business f0r earning better return. They l00k f0r reputati0n, ethics,
 and s0cial resp0nsibility 0f business bef0re ch00sing the 0ne t0 invest their
funds. Business w0rking on ethical values are able to attract large
number of investors. Investors know that ethical values enable
organization in enhancing their productivity, efficiency, and profits.

DISADVANTAGES OF ETHICS
Reduce Profits: Business ethics reduces the profit earning ability 0f the
0rganizati0n by putting limits t0 its 0perati0ns. C0mpanies w0rking 0n ethical
values can’t f0cus 0n pr0fit maximizati0n by expl0iting 0thers. They need t0 give
equal attenti0n t0 the interest 0f its stakeh0lders like cust0mers, empl0yees,
s0ciety, credit0rs, and g0vernment. Business running 0n an ethical path needs
t0 f0reg0 extra profits which adversely affect their growth and revenue.
Time Consuming:
Implementati0n 0f ethics within the business practices is a time-c 0nsuming
pr0cess. It is a l0ng pr0cess that requires large eff0rts 0n the part 0f the
0rganizati0n. Businessmen need t0 pr0perly learn ab0ut these ethics f0r their
successful implementation. 
Not Ideal for Small Business: 
Ethical standards are not suitable f0r small scale business as it l0wer their
pr0fit. Small business cann0t aff0rd t0 l0se s0me pr0fit f0r the sake 0f running
their 0perati0ns ethically. It can hamper their gr0wth and survival in t0day’s stiff
c0mpetiti0n. F0ll0wing these principles brings extra c0st t0 the business which is
n0t feasible f0r small c0mpanies.
Instability: 
Business ethics are n0t stable and are changed fr 0m time t0 time. Business
0wners revise them as per the c 0mpany needs and desires with 0ut c0nsidering
whether they are ethical 0r n0t. It bec0mes inc0nvenient t0 change these
standards within the business

THE END…