- Chapter 1 Notes Ethics
- Social Responsibilities of Business and Business Ethics Class 11 Notes Business Studies
- Business Ethics Notes Chapter 1 and 2
Chapter 1 Notes EthicsPlease join StudyMode to read the full document. But difficult to evaluate all consequences, right of minorities can be sacrificed. Focus on integrity of moral actor rather than the act. The real issue is that it is about character — the kind of person you want to be as opposed to which action to take. Likewise, Pfizer is a Pharmaceutical firm that have recently been question on their ethical behaviour and standards. The organisation was unsuccessful on their takeover bid on British company AstraZeneca, due to their recent scandals on animal testing, testing drugs on children and bribery issues to resolve their illegal activities paying 60 million to settle their charges. Each businesses should take into consideration their ethical standards and corporate social responsibility CSR. Therefore, it is inevitable to maintain sustainability in order to achieve good public image and reputation within their stakeholders. Pfizer primary mission is to improve Prior to the World War II, the industrialists of Germany, Walter Rathenau, declared that the corporations have turned out to be huge and that they have developed to be an important part of the community or the society. As said by Walter Rathenau, although a corporation significantly intends to pursue the personal and individual interests and revenues for the owners or the leaders of the corporation they progressively bear the mark of a responsibility and to a growing degree, have consistently assisted the private interest of individuals. Moreover, philosophers such as James H. Compare and contrast the Ethical Egoism and Utilitarianism frameworks. Ethical Egoism, from the viewpoint of a business entity, maintains that companies should act strictly in line with their own interest. While this sounds like the direction that companies currently take anyway, pure pursuit of Ethical Egoism opens up a host of problems that deserve discussion. For example, under pure Ethical Egoism, companies would essentially disregard product safety, ethical business practices good corporate citizenship, environmental respect and the like, as the pursuit of profit, market share, or any other strategic goal would be the only concern. Utilitarianism, in contrast to Ethical Egoism, from a business ethics standpoint, would be defined as the ultimate pursuit of whatever it is that the goal of a given business might be, ranging from maximum profitability to largest possible market share to industry award. Overall, the main In fact they are—or would be if they or anyone else took them seriously—preaching pure and unadulterated socialism. Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades. Only people have responsibilities. Stakeholders are individuals, companies, groups, and nations that cause and respond to external issues, opportunities, and threats. Disruptive technologies, increased working hours, increased personal and professional stress create pressure on stakeholders. Organzing thoughts logically 2. Tailoring message to audience 3. Telling a story for maxiumum impact 4. Speaker must anticipate questions and answer them. More detailed planning and prep than ordinary Sign Up. Sign In. Sign Up Sign In. Home Essays Business Ethics Notes Continue Reading Please join StudyMode to read the full document. Business Ethics Exam Note Essay Read More. Business Ethics Essay Essay about Business Ethics Essay on Business Ethics Chapter 1 Saq Chapter 1 Business Ethics Essay Chapter 1 and 2 Notes Research Paper
Social Responsibilities of Business and Business Ethics Class 11 Notes Business Studies
To browse Academia. Skip to main content. Log In Sign Up. Susan V H Castro. Susan V. Racists and Misogynists The Law Dimensions of Ethical 1 Evaluation Definition of Ethics as Common-Sense Pluralism Evaluate Consequences - the benefits and harms to everyone and everything that may be affected, i. This is a patient-centered dimension of ethical evaluation. Ignoring intentions. Evaluate Responsibilities - obligations, fiduciary duties, etc. This is an agent-centered dimension of ethical evaluation. Focus on intentions is also central to this dimension of ethical evaluation. These are not necessarily legal rights, though there is overlap. Evaluate Character - virtues like industry, honesty, justice, temperance, etc. Essentialism false belief that character is immutable. Evaluate Relationships - partnership, collegiality, friendship, family, etc. Can lead to extreme altruistic requirements. Ethics concerns how to live good lives, build healthy communities, and help the world flourish. How each component matters is highly context-sensitive, and sometimes they conflict. This is why we need good IBPs. Common-Sense Pluralism will be our default ethical theory.
Business Ethics Notes Chapter 1 and 2
Ethics consists of the standards of behavior to which we hold ourselves in our personal and professional lives. It establishes the levels of honesty, empathy, and trustworthiness and other virtues by which we hope to identify our personal behavior and our public reputation. In our personal lives, our ethics sets norms for the ways in which we interact with family and friends. In our professional lives, ethics guides our interactions with customers, clients, colleagues, employees, and shareholders affected by our business practices Figure 1. Should we care about ethics in our lives? In our practices in business and the professions? That is the central question we will examine in this chapter and throughout the book. Our goal is to understand why the answer is yes. Whatever hopes you have for your future, you almost certainly want to be successful in whatever career you choose. But what does success mean to you, and how will you know you have achieved it? Will you measure it in terms of wealth, status, power, or recognition? Before blindly embarking on a quest to achieve these goals, which society considers important, stop and think about what a successful career means to you personally. Does it include a blameless reputation, colleagues whose good opinion you value, and the ability to think well of yourself? How might ethics guide your decision-making and contribute to your achievement of these goals? Want to cite, share, or modify this book? This book is Creative Commons Attribution License 4. Skip to Content. Business Ethics Introduction. Table of contents. Answer Key. Chapter Outline 1. Figure 1. In a business context, these choices have consequences for ourselves and others whom we must take into account in our decision-making process. Previous Next. We recommend using a citation tool such as this one. Authors: Stephen M.
The revision notes help you revise the whole chapter in minutes. Revising notes in exam days is on of the best tips recommended by teachers during exam days. So, a business enterprise should do business and earn money in ways that fulfill the aspirations of the society. Thus social responsibility relates to the voluntary efforts on the part of the businessmen to contribute to the social well being. The businessmen make use of resources of society and earn money from the members of society so they must do something for the society. Justification for Existence and Growth : Business is the creation of society therefore it should respond according to the demands of the society. To survive and grow in society for long run the business must provide continuous services to the society. Long term Interest of the firm : A firm can improve its image and builds goodwill in the long run when its highest goal is to serve the society. Avoidance of government regulations : Business can avoid the problem of government regulations by voluntarily assuming social responsibilities. Availability of resources with business : Business has valuable financial and human resources which can be effectively used for solving problems of the society. So, business will get better community to conduct business. Contribution to social problems : Some of the social problems have been created by business firms themselves such as pollution, creation of unsafe workplaces, discrimination etc, Therefore, it is the moral obligation of business to solve such social problems. Profit Motive — A business is an economic entity that is guided by profit motive. It should not waste its energies and resources in fulfilling social responsibility. Burden on consumers — Involvement of business in social responsibilities involve a lot of expenditure which will ultimately be borne by the customers. Lack of Social Skills -The business firms and managers have the skills to handle business operation. They are not expert to tackle the social problems like poverty, over population etc. Therefore, social problems must be tackled by social experts. Lack of public support — Generally public does not like business involvement in social problems. Business has Interaction with several interest groups such a shareholders, workers, consumers, government and community. Business is responsible to all these groups. Responsibility towards shareholders: i To ensure a fair and regular return on the investment of shareholders. Responsibility Towards workers: i Providing fair compensation and benefits, ii Providing good and safe Working conditions, iii To develop a sense of belongingness. Responsibility Towards Government — i To pay taxes honestly ii To observe rules laid down by the government, iii to avoid corrupting government employees. Responsibility towards community — i To make available opportunities for employment, ii To avoid polluting the environment, iii To up lift the weaker sections of society. Natural Resources-all land, water, air and man-made — cultural heritage, socio-economic institutions and the people. Meaning of Environmental pollution — It means injection of harmful substances into the environment. The greatest problem that industries and businessmen are creating is that of pollution — which is the result of industrial production. So, protection of environment is must. Causes of Pollution: Many industrial organizations have been responsible for causing air, water, land and noise pollution. Air Pollution — Due to smoke, chemical emitted by factories, vehicle. It has created a hole in the ozone layer leading to global warming. Land Pollution — Due to dumping of garbage and toxic wastes which affect the fertility of land and makes it unfit for agriculture. Noise Pollution : Caused by the running factories and vehicles. Students can download the Study materials and Pdf Books and they can use them in their Academic Preparation. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, operations, and statistics, etc. Ethics are principles or standards of human conduct, sometimes called morals, and, by extension, the study of such principles is sometimes called moral philosophy. Management of Ethics — Ethics analysis [ Hosmer model ]; Ethical dilemma; Ethics in practice- ethics for managers; Role and function of ethical managers- the Comparative ethical behavior of managers; Code of ethics; Competitiveness, organizational size, profitability, and ethics; Cost of ethics in Corporate ethics evaluation. Social-cultural environment and their impact on business operations, Salient features of Indian culture and values. Economic Environment; Philosophy of economic growth and its implications for business, Main features of Economic Planning with respect to a business; Industrial policy and framework of government contract over Business; Role of the chamber of commerce and Confederation of Indian Industries. Definition- Evolution- Need for CSR; Theoretical perspectives; Corporate citizenship; Business practices; Strategies for CSR; Challenges and implementation; Evolution of corporate governance; Governance practices and regulation; Structure and development of boards; Role of capital market and government; Governance ratings; Future of governance- innovative practices; Case studies with lessons learnt. Admissions, Courses, Fee. Leave A Reply Cancel Reply. Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. Notify me of new posts by email. Study Material Books. Content in this Article. Related Topics. Business Ethics and Corporate Governance S. Prabakaran Excel Books Paperback: pages. Currently not available. Ltd Paperback: pages. Priyanka Kaushik Sharma Paperback. This field is for validation purposes and should be left unchanged. Randy Deigado says 12 months ago. I just added this blog to my google reader, excellent stuff. Cannot get enough! Leave A Reply.