Business Ethics

Instructed by
Muhammad Waqas Chughtai
 What are the Business
Ethics?
 Ethics are principles that ex plain what is
good and right and what is bad and wrong
and that prescribe a code of behavior based
on these definitions.
 Business Ethics is a system of moral
principles OR a sense of right and wrong, and
goodness and badness of actions and their
motives and consequences.

©Prepared by Muhammad Waqas Chughtai

Sources of Ethics

Religion
Culture

Legal
System

Ethics

©Prepared by Muhammad Waqas Chughtai

 Managing Ethics

Top Code of
Management Ethics

Ethics Ethics
Committee Hotlines

Ethics Ethical Training

Audit Behavior Programs

©Prepared by Muhammad Waqas Chughtai

 Criteria of Ethical
Decision Making
 Utilitarianism
A means of making decisions based on what is good
for the greatest number of people.
 Individualism
The degree to which a society values individual self-
interest over group needs and goals.
Individual self-interest should be promoted as long as
it does not harm others.

©Prepared by Muhammad Waqas Chughtai

 Criteria of Ethical
Decision Making
 Rights approach
A means of making decisions based on the belief that
each person has fundamental human rights that
should be respected and protected.
 Justice approach
An approach to decision making based on treating all
people fairly and consistently when making business
decisions.

©Prepared by Muhammad Waqas Chughtai