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// FEBRUARY
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ETHICS
by: Aleha Marie R. Angelada

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MEETING DATE & TIME JUNE 15, 2021 - 15H
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TOPICS

01 ETHICS 02 BUSINESS ETHICS

03 ETHICAL
WORKPLACE 04 CODE OF ETHICS

05 ETHICAL ISSUES 06 ETHICAL


DILEMMA
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ETHICS
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WHAT ARE ETHICS?
Individual values form the basis of ethics, a
set of moral principles that govern decisions
and actions. To act ethically is to behave in
ways that are in keeping with certain values.
 Universal values are values that are shared
by all cultures throughout history.
 Business ethics are moral principles
applied to business issues and actions.
 Entrepreneurs have considerable influence
on their company’s business ethics.
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BUSINESS
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ETHICS
WHAT IS BUSINESS ETHICS?

 The study of what is the right and wrong human behaviour and
conduct in business.
 A study of perceptions of people about morality, moral norms, moral
rules, and ethical principles as they apply to peoples and institutions
in business.
WHY PRACTICE
BUSINESS ETHICS?
The main reason for behaving ethically, in business or in any area of life is simply
that it’s the right thing to do.

Three practical reasons why you should practice business ethics:


 Customers are more confident when buying goods and services from
an ethical company.
 An ethical workplace motivates employees.
 Ethical behavior also prevents legal problems.
WHY ARE BUSINESS
ETHICS IMORTANT?
As with all business initiatives, the ethical
operation of a company is directly related to
profitability in both the short and long-term.
The reputation of a business in the
surrounding community, other businesses,
and individual investors is paramount in
determining whether a company is a worth
while investment. If a company is perceived
to not operate ethically, investors are less
inclined to buy stock or otherwise support
its operations.
With consistent ethical behaviour comes an
increasingly positive public image, and there
are few other considerations as important to
potential investors and current shareholders.
To retain appositive image, businesses must
be committed to operating on an ethical
foundation as it relates to the treatment of
employees, respecting the surrounding
environment and fair market practices in
terms of price and consumer treatment.
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ETHICAL
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WORKPLACE
Universal values establish a strong foundation for society and are also a good
basis for running your business.

To deter unethical behavior, companies try to create transparency,


or openness and accountability in business decisions and actions.

To enhance transparency, companies today are using social


media, which are interactive electronic forms of communication
such as blogs and message boards

A whistle-blower is a term for


someone who reports illegal or
unethical conduct to superiors or to
the public.
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CODE OF ETHICS
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WRITING A
CODE OF ETHICS
A code of ethics describes a business’s moral philosophy and gives concrete
guidelines for carrying it out.

Writing a code of ethics forces you


to clarify your own values and
principles.

Having a code will also help prevent


and resolve ethical problems.

A written code provides some


protection against claims of unfairness.
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ETHICAL ISSUES
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ETHICAL ISSUES FOR
INTREPRENEURS
When faced with an ethical decision, it’s best to rely on your own strong
personal values to help guide your response.

Intellectual property is artistic and industrial creations of the mind.


 Copyright is the exclusive right to perform, display, copy, or distribute
an artistic work.
 A patent is the exclusive right to make, use, or sell a device or
process.
 A trademark is a symbol that indicates
that the use of a brand or brand name is
legally protected and cannot be used
by other businesses.
Confidentiality involves respecting the privacy of others.

A conflict of interest exists when personal considerations and professional


obligations interfere with each other.
Usually involves a professional who violates a client’s trust or places the
client at risk because of dealings with a third-party. These situations may
arise with attorneys (a criminal defense lawyer who dates his client’s
prosecutor) or consultants. It is often experienced on voting boards where
there is a personal relationship between a voting party and a third-party
with vested interest in the outcome of the vote. In these cases, the potential
for a biased vote, or that the subject may provide information or engage in
activities with opposing parties that jeopardize the outcome, is an obvious
conflict of interest.
Violations of Ethical Code

The ethical behaviour of most business professionals is regulated by


codes of conduct. Common ethics violations can include the mishandling of
funds, conflicts of interest, and lapsed licensing.
Improper or fraudulent billing are ethics violations that can involve
charging customers for services they did not receive. This most often
happens in industries where the party who receives the bill is not the party
who received the services.
There are several ways financial professionals
can commit ethical violations. A prime example
is not placing a client’s funds into an approved
escrow account. Managing escrow accounts is
also often required for attorneys and real estate
agencies. If they fail to do so and place client
funds in to personal or business accounts, they
are generally in violation.
Many professionals are required to renew or
update their licenses and certifications. This
often requires that courses be taken and/or
fees be paid. For various reasons, many
professionals do not renew their documents
before they expire. Since many clients (and
often supervisors) do not check regularly,
these ethics violations often go unnoticed if a
regulatory body does not discover them.
Crossing a sexual boundary is an ethics violation
that is different than sexual harassment or sexual
abuse. In sexual boundary cases, both parties
maybe willing participants however, something about
the sexual relationship is inappropriate due to a code
of conduct. Examples of these ethical violations can
be found in doctor-patient relationships, consulting
practices, educational settings, church forums or
other in-person businesses.
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ETHICAL DILEMMA
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An ethical dilemma is a problem where a person has to choose
between a moral and an immoral act.
Pressure from Management

Each company's culture is different, but some companies stress profits and results
above all else. In these environments, management may turn a blind eye to ethical
breaches if a worker produces results, given the firm's mentality of "the end
justifies the means Whistle blowers may be reluctant to come forward for fear of
being regarded as untrustworthy and not a team player. Therefore, ethical
dilemmas can arise when people feel pressured to do immoral things to please
their bosses or when they feel that they can't point out their coworkers' or
superiors' bad behaviors
Ambition and Discrimination

Individual workers may be under financial


pressure or simply hunger for recognition. If they
can't get the rewards they seek through accepted
channels, they may be desperate enough to do
something unethical, such as falsifying numbers
or taking credit for another person’s work to get
ahead
Used as Negotiation Tactics

While these factors can cause ethical dilemmas


for workers within their own companies, doing
business with other firms can also present
opportunities for breaches. Pressure to get the
very best deal or price from another business can
cause some workers to negotiate in bad faith or
lie to get a concession. Negotiators may also try
to bribe their way to a good deal
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THANKS!
CREDITS: This presentation template was created by Slidesgo, including
icons by Flaticon, infographics & images by Freepik
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