Jay : The power is given to these individuals assuming that the combined education and experience of these leaders will produce a code of conduct based on profitability and reputability.
Jay : Having the right people in an Ethics committee is key to the functioning of the department as well as the manageability of the Ethical System.Management must involve employees in the development of guidelines intended to recognize ethical issues and generate a means of dealing with them those who both breach them and engage them on a regular basis.
SHAMA :A business should believe in treating all customers with dignity, irrespective of whether they purchase products and services directly or otherwise acquire them in the market.
BODHI (need to give an example here- Google)-All businesses should respect international and domestic rules. While accepting the legitimacy of trade secrets, businesses should recognize that sincerity, candor, truthfulness, the keeping of promises, and transparency contribute not only to their own credibility and stability but also to the smoothness and efficiency of ‑business transactions, particularly on the international level.
VINAYAK –The value of a business to society is the wealth and employment itcreates.
Tamarisk -Any business should ensure that all its employees must live with social and economic dignity and freedom, regardless of nationality, gender, race, economic status or religion . They can do so by providing the following :
Tamarisk :A code of ethics without an equally well-defined system of punishment and reward is essentially meaningless, however. It is equally important that management institute a process to reward workers who demonstrate a commitment to positive ethical behavior. Everyone in the organization must be made to fully understand that ethical conduct does not arrive as a result of one's violation of the codified ethical standards already being in place. In other words, there is no place in an organization for those who suddenly become accepting of the ethical standards only after they have already been caught violating them.
PAVAN-Business ethics boils down to the day-to-day choices you make no matter who you are or what responsibilities you have. From the minute you step from the parking lot into your workplace, see the things around you in proper context. For those of us without power and influence, ethically taking care of company assets may be a non-issue. You show up for work, do your job, and go home without engaging in any high finance or legal maneuvers. Little did you know, during your seemingly routine day, you had hundreds or even thousands of dollars of assets under your control. With all the stuff that passes you by each day at work, you probably never think about it in terms of assets and your responsibility.Do you drive a company car, work on a computer, or maintain equipment? Do you use a company credit card or expense account? Do you have access to or are you responsible for intellectual property or company records? All these are examples of assets. Some are physical and some are intangible, such as company secrets, trademarks, and confidential information. Every employee from the janitor to the executive controls some kind of asset every time he or she shows up for work.
AMRUTA-A company’s relationship with suppliers and subcontractors must be based mutual respect.
JITENDRAAs a business, your competitors are just that: competitors. However, the way you treat your competitors may affect how your customers and the media perceive your business, your ethics, and your friendliness. For those reasons, and more, it’s important that you carefully consider how you act with your competitors. When customers see you have strong ethics in how you deal with your competitors, they will know for sure that you’ll treat them right.Congratulate Success:When a competing business does something well, you should be prepared to say so. If for example, a competing business has managed to gain greater traction than you, then you should point out that they have done really well, and are a good business, while also pointing out the advantages your business is able to offer that your competitors cannot. This is a good demonstration of the strong ethics within your business, and will certainly leave a positive impression.Sales & Marketing StrategiesWhen it comes to sales and marketing, it can be tempting to point out the negative aspects of your competitors. And, in some cases, it may be an essential part of closing the sale. However, rather than criticizing your competitor, why not mention both positive and negative points of their service? Such as: “yes, you are correct, Company A is able to offer lower pricing than we canHowever, on some occasions your competitors may not provide a good service. In this case, you should be as polite and tactful about your competitors as possibleDon’t BiteWhen a competitor speaks negatively about your business, it can be hard to know what to do. Especially when you want to ensure your business appears to be friendly and considerate of business ethics. Although it’s important to respond to any issues in an articulate way, you should avoid getting involved in any tit-for-tat. This will help your business to keep its reputation intact.
RIDDHI :It is the responsibility of every business promote and stimulate sustainable development and play leading role in preserving and enhancing the physical environment and conserving the earth's resourcesEg: ITC carbon and water +ve
Preeti : As global corporate citizens, we can contribute to forces of reform and human rights as are at work in the communities in which we operate. We therefore have a responsibility in those communities to:
Ethics presentation final 20.09.10
Ethics = Ethos (moral character)• Ethics (also known as moral philosophy) is a branch of philosophy that addresses questions about morality — that is, concepts such as good and evil, right and wrong, justice, virtue.• It is the 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. 2
Ethics & Ethical Principles• These extend to all spheres of human activity.• They apply to our dealings with each other and the environment.• They should govern our interactions not only in conducting research but also in commerce, employment and politics.• Ethics server to identify – Good, Orderly, Desirable or acceptable conduct and provide reasons for those considerations. 3
Ethics in BusinessBusinesses have a role to play inimproving the lives of all theircustomers, employees, andshareholders/stakeholders bysharing with them the wealth theyhave created. Suppliers andcompetitors as well should expectbusinesses to honour theirobligations in a spirit of honestyand fairness. As responsible citizensof the local, national, regional, andglobal communities in which theyoperate, businesses share a part inshaping the future of thosecommunities. 4
Importance of Ethics in Business• Ethics correspond to basic human dignity.• It creates credibility in public.• It gives the Management credibility with the employees.• It helps in better decision making.• Law cannot “spirit” society, but Ethics can. 5
Corporate EthicsIs based on Principles of Integrity and Fairness.Focuses on :• Customers / Market culture• Shareholders / Stakeholders• Employees• Suppliers / Vendors• Competitors• Environment• Communities 6
Corporate Ethics are implemented to: • Define the framework of acceptable behaviour. • Follow high standards of practice. • Create benchmarks for self evaluation. • Enhance sense of community and fairplay. • Create transparency in business activities. • Comply with government laws and norms. 7
Assembling ethical codes• When a corporation assembles a code of ethics for business practice, all these elements come into play.• Codes of ethics are written by prominent figures within a given industry .• The assembled code of conduct should be suitable for profitability and reputability since profit and reputation are often dependant on one another.• These rules of conduct are important for the success of the business as a whole. 8
Who is responsible for Ethics in a Company ? “ EVERYONE” 10
If a company paints the below picture, there is a problem. 11
Responsibilities of a Business towards Customers• To provide our customers with the highest quality products and services consistent with their requirements.• To treat our customers fairly in all respects of our business transactions, including a high level of service and remedies for their dissatisfaction .• Making every effort to ensure that the health and wealth of our customers, as well as the quality of their environment, will be sustained or enhanced by our products and services .• Assuring respect for human dignity in products offered, marketing, and advertising; and respect the integrity of the culture of our customers. 12
Responsibilities of a Business towards Market culture• When considering the global market of today, if the rules of conduct conflict with those of business in other countries and other markets, both reputation and profit will be negatively affected.• When considering the global market, one must address the "legal, ethical, and moral issues relevant to business and the workplace“ When it comes to legalities, the lines are much clearer as to what is right and wrong.• When it comes to ethics and morality, there is such a diverse selection of what is considered right and wrong in various cultures that the lines are not so clearly drawn.• The extended issues include "confidentiality, compliance with [foreign] laws, financial integrity, and political activities" . All of these factors come into play when doing business in a multicultural, global economy. 13
Responsibilities of a Business towards Stakeholders / Shareholders• The value of a business to its Stakeholders and Shareholders is the wealth creation .• To create such value, a business must maintain its own economic health and viability, but just survival is not a sufficient goal.• Dynamic sustainable progress is a key ingredient in maintaining positive wealth creation. 14
Responsibilities of a Business towards Employees• Work conditions that respect each employees health and dignity.• Honesty in communications with employees and open in sharing information, limited only by legal and competitive restraint.• Forum for employee suggestions, ideas, requests, and complaints.• Avoiding discriminatory practices and guarantying equal treatment and opportunity in areas such as gender, age, race, and religion.• Negotiations in good faith ,and when conflict arises seek a resolution in a consensus.• Promote in the business itself the employment of differently abled people in places of work where they can be genuinely useful. 15
Responsibilities of an Employee towards a Business• Employees must understand that ethical behaviour is demonstrated not only in how they act toward others but also in how they treat property that doesnt belong to them.• The key to success is understanding who owns what and what boundaries exist for its use.• An ethical person doesnt put a rupee amount on respecting the property of others. He or she always makes a moral connection between property, ownership, and responsibility. 18
Responsibilities of a Business towards Suppliers/ Vendors• Seek fairness and truthfulness in all of our activities, including pricing, licensing, and rights to sell.• Ensure that business activities are free from coercion and unnecessary litigation.• Foster long-term stability in the supplier relationship in return for value, quality, competitiveness, and liability .• Pay suppliers on time and in accordance with agreed terms of trade.• Seek, encourage, and prefer suppliers and subcontractors whose employment practices respect human dignity. 19
Responsibilities of a Business towards Competitors• Congratulate Their Success Appreciate your competition to create a healthy environment.• Sales & Marketing Strategies Never indulge in outright criticism of your competitor; be tactful in mentioning both positives and negative aspects of their service/product.• Don’t Bite Avoid getting involved in any tit-for-tat. This will help your business to keep its reputation intact. 20
Responsibilities of a Business / Employee towards the Environment • To contribute to sustainable development through the establishment and implementation of environment standards that are scientifically tested and meet the requirement of relevant laws, regulations and codes of practice. • To reduce waste, conserve energy, and promote recycling of materials wherever possible. • To ensure safe handling, storage, use and disposal of all substances and materials that are classified as hazardous to health and environment. 21
Responsibilities of a Business towards the Community • Respect human rights and democratic institutions, and promote them wherever practicable. • Recognize governments legitimate obligation to the society at large and support public policies and practices that promote human development through harmonious relations between business and other segments. • Collaborate with those forces in the community dedicated to raising standards of health, education, workplace safety, economic well being. • Support peace, security, diversity, and social integration. • Respect the integrity of local cultures. • Be a good corporate citizen through charitable donations, vocational and cultural contributions, and employee participation in community and civic affairs. 22