Business ethics notes chapter 1 and

importance of business ethics

In 7 to 10 years, they reach the stratosphere, and destroy ozone molecules and remain for 75 to years, continuing all the while to break down additional ozone molecules. Companies and stakeholders have, progressed beyond mere dialogue process, to a more meaningful and rational stakeholder participative process.

What is the impact of climate change?

Values are relevant to individuals, to organizations, and to societies Values are also relevant at the organizational level Related Interests. Industry as a whole, and Society at large. Companies are expected to provide access to information on impacts of their operations, to engage stakeholders in meaningful dialogue about issues of concern that are relevant to ether party and to be responsive to particular concerns not covered in standard reporting and communication practices. Loss of reputation and goodwill in the industry and the community. Codes, Standards and Indicators: New voluntary CSR standards, guidelines and performance measurement tools are added by various companies as part of their Annual Reports. Higher exposure to legal battles in Courts of Law. They should realise that the power to command resources has been delegated to them by the society to generate more wealth for tits betterment. Open Communication: Top Management should explain the reasons for the ethics Policy and review the guidelines and conduct formal or informal training to further sensitizes employer to potential; ethical issues. Need: A pre- requisite for a good competition is trade, e. What are the benefits of environmentally friendly business practices? Global Warming: Industrial and other human activities during the last 50 years, particularly the burning of fossil fuels, have released substantially higher amounts of greenhouse gases into the atmosphere, resulting in increasing amounts of heat, and raising temperatures around the globe. These goals have an interactive relationship and, when in harmony, deliver Total Welfare.

After multiple waves of business scandals, some cynicism a general distrust about business and its role in society is probably healthy. Write short notes on Ecological Ethics.

business ethics notes for bcom pdf

Failure of businessmen to assume social responsibilities invites Government to intervene and regulate or control their activities. Whether or not we like to admit it, our ethical conduct is influenced and to a large degree controlled by our environment.

Acid rain directly damages forests and indirectly destroys the wildlife and species that depend on forests for food and breeding.

business ethics chapter 1 slideshare

We have read about the care, compassion, and assistance that countless American firms gave to those who were harmed by the terrorist attacks. Independent directors ensure that the Board does not operate outside the sphere of management influence.

Increase in the distribution and severity of disease.

Write short notes on Ozone depletion. Soaks into soils and falls directly on trees and other vegetation. Write short notes on Ecological Ethics. Releases toxic metals from the soil and carries these into waterways, where they contaminate drinking, water and lead to various diseases. Business school students may need ethics training more than most, because research has shown they have ranked lower in moral reasoning than students in philosophy, political science, law, medicine, and dentistry In today's highly complex organizations, individuals need additional guidance. Directors on the Board are elected by Shareholders to establish corporate management polices and make decisions on make decisions on major issues pertaining to the Company. Ecological Ethics: Ecological Ethics is based on the idea that the environment should be protected not only for the sake of human being s but also for its own sake. Rapid advancements in the IT industry have led to the problem of e-waste dumping i. However, this would seriously damage the economies of both developed and developing nations. Value Analysis: Economic progress and environmental protection are not conflicting propositions. Increased Stakeholder Activism: Society is looking to the Private Sector to help with complex social and economic issues.

Briefly describe the role of Individual Morals and standards in defining Workplace Ethics.

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Chapter 1: The Importance of Business Ethics