You are on page 1of 8

Meaning of Ethics Ethics means the continuous effort of studying our own moral beliefs and our moral

conduct, and striving to ensure that we, and the institutions we help to shape, live up to standards that are reasonable and solidly-based. It refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.

Definition The basic concepts and fundamental principles of right human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment.

Types Of ethics

Ethics of Duty Fulfilling Commitme nts

Ethics of Responsibili ty

Proper use of authority.

Ethics of moral judgment Standardizi ng the ethical principles.

Work Ethics Purpose of performing a task

Meaning of Moral Moral implies conformity with the generally accepted standards of goodness for rightness in conduct or character; moral is generally used to describe who people are. MORALITY can be defined as the standards that an individual or a group has about what is right and wrong, or good and evil. Moral codes are seldom completely consistent. Sometimes that is because there are contradictions among people different values, and are uncertain about which value should be given priority. Difference between Moral and Ethics: Ethics: Study of morality. Branch of Philosophy. Stress on social system. Built on moral principles. Decisions made on perceived things. Morals System of Rules. Rules of conduct. Defines a personal character. Built in social experiences. Judgments are made on beliefs.

Types of Business Ethics


Ethics of Production Environmental Ethics Carbon Emissions Health Product Testing Ethics of intellectual property, skills and knowledge Patent, Trademark and copyright infringement Employee Raiding Industrial espionage Business Intelligence Ethics of Sales and Marketing Pricing Marketing Strategies Advertisement Contents Black Markets International Business Ethics

Transfer pricing Fair Trade pricing Globalisation Child Labour

Ethics of accounting Information Earnings Management Bribery Securities Proper Allocation of funds Professional Business Ethics Drug Testing Workplace Surveillance Occupational Safety Employment Law General Business Ethics Moral obligation towards the society Moral codes Corporate Governance

Corporate Social Responsibility


Business ethics is a form of applied ethics. It aims at inculcating a sense within a companys employee population of how to conduct business responsibly. Because the term ethics can pose problems in an international context, i.e., the term does not translate well and it can be difficult to find a common understanding of the term, some organizations choose to recast the concept of business ethics through such other terms as integrity, business practices responsible business conduct. Corporate Responsibility Corporate responsibility refers to fulfilling the responsibilities or obligations that a company has toward its stakeholders. When examining a particular corporate practice, like profit versus environmental protection, corporate responsibility can help distinguish between a stakeholder expectation and a corporate obligation, i.e., is the company obligated to provide absolute environmental protection at all costs or is it obligated to maximize profits for its investors at the cost of damaging the environment? Corporate Social Responsibility (CSR) CSR can be understood in terms of corporate responsibility, but with greater stress upon the obligations a company has to the community, particularly with respect to charitable activities and environmental stewardship. Corporate and social responsibility is sometimes described as being a tacit contract between business and a community, whereby the community permits the business to operate within its jurisdiction to obtain jobs for residents and revenue through taxation. Additionally, the community expects the business to preserve the environment and to make the community a better place to live and to work through charitable activities.

Developing Ethics in Global Economy


Business ethics is a form of applied ethics. It aims at inculcating a sense within a companys employee population of how to conduct business responsibly. Because the term ethics can pose problems in an international context, i.e., the term does not translate well and it can be difficult to find a common understanding of the term, some organizations choose to recast the concept of business ethics through such other terms as integrity, business practices responsible business conduct. Corporate Responsibility Corporate responsibility refers to fulfilling the responsibilities or obligations that a company has toward its stakeholders. When examining a particular corporate practice, like profit versus environmental protection, corporate responsibility can help distinguish between a stakeholder expectation and a corporate obligation, i.e., is the company obligated to provide absolute environmental protection at all costs or is it obligated to maximize profits for its investors at the cost of damaging the environment? Corporate Social Responsibility (CSR) CSR can be understood in terms of corporate responsibility, but with greater stress upon the obligations a company has to the community, particularly with respect to charitable activities and environmental stewardship. Corporate and social responsibility is sometimes described as being a tacit contract between business and a community, whereby the community permits the business to operate within its jurisdiction to obtain jobs for residents and revenue through taxation. Additionally, the community expects the business to preserve the environment and to make the community a better place to live and to work through charitable activities.

Absolutism And Relativism Absolutism and relativism are two extreme ethical approaches to reality. While they are both valid and supported by facts, they are very contrasting in their views. Values are what a person cares about and thinks is worthwhile. For example, values can include life, love, religious faith, freedom, relationships, health, justice, education, family and many other things. Usually these values are what provides the passion in a person's life, and gives them hope and a reason for being. A person might go to any lengths to protect what they feel is right and to preserve these values. Values can be divided up into two subcategories: absolute and relative. Absolute values deal with conventional ethics. In absolutism, everything is certain. Relativism, on the other hand, is more subjective. It includes concepts such as utilitarianism and idealism. Relativism stresses the idea that nothing is certain. These two ideals are extremes when approaching reality and values. An ethical absolutist believes that there is a single or universal moral standard that is equally applicable to all people at all times, and each society must adhere to them. There is one moral law, one universal code, and one eternal standard that govern all people.