Walt Disney and News Corporation:
A COMPARATIVE ANALYSIS OF BUSINESS ETHICS
• • • • • • • • What is ethics? Why Business Ethics? Walt Disney and ethics News corporation and ethics Most liked and least liked aspects Beyond a written code? Breach of ethical conduct: an example
We have all witnessed …..
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The Question that Was All around: Are our ethics and incongruencies in them responsible for it???
its significance becomes all the more crucial …………
With ethics seen as a possible cause of such a huge crisis…….
What is Ethics?
“THE STUDY OF RIGHT AND WRONG”
“The values that an individual uses to interpret whether any particular action or behavior is considered acceptable or appropriate” A work culture based on ethics is transmitted from the mindset of the businessman
Where does society derive its sense of right and wrong from?
• Ethics is something you feel.• • • •
W H Y S H O U L D O N E B E E T H IC A L ?
• Ensure policies are legal and rightfully unbiased • Avoid violence and criminal acts • Promotes a strong public image • Legitimizes managerial actions • Strengthens alignment of organization's culture • Greater trust and greater consistency in relationships • Major source of competitive advantage • ANCHOR for the organisation. not something you think
policy making and decision-making • Evolving a sound society and workplace dynamics • Build an ethical culture by example setting • Improves society • Stick to moral codes in turbulent times • Cultivate strong teamwork and productivity • Support employee growth and meaning
. trust. such as honesty.WHY SHOULD ONE BE ETHICAL?
• Values and ethics occupy centre-stage in management • Integrates core values. fairness into strategic management.
• Business managers must understand finance and marketing but not necessarily Ethics
• Ethics and Business don’t go together
• “Why should I be worried about ethics as long as I am making money and staying out of jail?”
• Ethics is as important in business as it is in life! • One can only Do well by doing Good! • Absence of Business Ethics can only bring in shot-term success.
. • Long-term successful businesses never let go of ethics.
Walt Disney & News Corporation
• Driven by strong ethical values • Leave a lasting impression • Building relationships….and keeping them • It is the foundation that gives resilience. character and core strength • Work like an insurance policy: help ensure that businesses remain within legalities and moralities
. Diversity and Multiculturalism 3. Responsibility to other businesses: our business associates are an essential part of our team 4. Responsibility to cast members and employees: Professional development of employees
2.Walt Disney: 3 most liked practices
News Corporation: 3 most liked practices
• Company funds and property • • Dealing with government officials • • Accommodation for disabilities • •
officials to entice them Disabilities' not a hindrance….cross cultural infusion.Reasons for liking
• • • • • • • • • • • • Treat all employees with fairness. camaraderie and relationship building Accountability for the proper expenditure of company funds No payment to govt. dignity and respect Upholding the basic human rights Inclined towards individual career development and advancement Respect for privacy of employees: dignity and belongingness A great balance of professionalism and compassion Makes it very ‘humane’ & captures the very essence of humanity Diversity encourages.equal opportunities
I am responsible for it!”
.Reasons for liking
• • • • • • • • • • • Tapping of unique talents A platform for cultural and intellectual learning Melting pot A mix that reflects all genres of employees and customers: more identifiability Belief that diversity is the best way to develop superior products Fair competition Delivering quality and sincerity to customers Developing trust Not mislead or cheat customers Synergy: free communication and a sense of empowerment The employees feel “This is my company….
Walt Disney: 3 least liked practices
• Safety • • Doing businesses with family members
• Acceptance of gifts
limited expression • • Insider trading • • Business hospitality •
.News Corporation: 3 Least liked practices
• Legal disputes.
. although it keeps a check on corruption but sometimes gifts in business can promote goodwill.. Refutes the basic principle of free business • You can lose out on good talent just because Mr.Reasons for not liking
• Safety standards should have been more detailed and specifically laid out • Complete abstinence from businesses with family…. X happens to be family • A feeling of devaluing family ties creeps in • Too much emphasis on not giving or taking gifts.
Reasons for not liking
• • • • • • • Hinder individual freedom Lessens a sense of propriety Stifles out-of the box thinking Rigid mental framework in whatever you do…. meals or transportation
. Freedom to exercise free will An employee should not be held responsible for the actions of his family members because he may not be aware of their actions regarding purchase of securities by them Who will fix the limits of lavishness or otherwise of entertainment.in even simple gestures as gift giving If a person is engaged in a lawsuit . he should be free to discuss that matter with anyone he likes..
.seeped.Beyond a written code…. Within the manager’s mind…. • • • •
. Ethics need to be felt first … Internalized first and only then can they be spread in the environment • A written code can never encompass the vast world of ethics • Ethics need to be character.
Ethics need to be within you….
7 principles of admirable business ethics
Be trustful Keep an open mind Meet obligations Have clear documents Become community involved Maintain accounting control Be respectful towards one and all
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A n exa m p l e