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Derived from Greek word Ethikos
meaning custom or character.
Dictionary meaning- a system of moral
principle rules and conducts.
As a science it involves systemizing,
defending and recommending concepts of
right and wrong behavior.
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In the aftermath of major corporate failures
and questionable accounting practices,
American Accounting Association President G.Peter Wilson said that in the classroom,
educators need to increasingly emphasize the
value of integrity, what has long been amainstay of accountants reputation
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6
LawMorals
Ethics
Values
Religion
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Importance of Ethics in Business:
Ethics is closely related to Trust
Trust is three dimensional
Trust in supplier relationships,
Trust in employee relationships
Trust in customer relationship
Help in better decision making
Law cannot protect society, ethics can
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To protect its own interest
To protect the interest of business
community as a whole so that the publicwill have trust in it.
To keep its commitment to society to act
ethically To meet stakeholder expectations
To prevent harm to the general public
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To build trust with key stakeholder groups
To protect themselves from abuse of
unethical employees and competitors
To protect their own reputations
To protect their own employees and
To create an environment in whichworkers can act in ways consistent with
their values.
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Differ with persons
ethical questions do not have a unique
solution but a multitude of alternatives
Ethical decisions are not limited to
themselves, but affects a wide range of
other situations as well. ED involves a trade off between cost
incurred and benefits received.
CHARACTERISTIC OF BE:
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Beliefs and Values
Moral Development
Ethical Framework
Founder
History
Defining Moments
Stories of Development
Government Regulations
Customers
Special Interest Groups
Market Forces
Structure
Policies and Rules
Code of Ethics
Reward System
Selection and Training
External StakeholdersOrganizational Systems
Personal Ethics Organizational Culture
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Bribery
Coercion
Undue Influence
InsiderTrading
Tax Evasion
Pollution
Unfair dealing and discrimination
Improper accounting practices
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Balancing work and family 52%
Poor Leadership 51%
Poor internal communication 51%
Lack of management support 48%
Need to meet goals 46%
- given by Ethics Officers Association
( 1997)
ROOTS OF UNETHECAL BEHAVIOR:
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INFOSYS Technologies-mission :
To achieve our objectives in an
environment of fairness, honesty andcourtesy towards our clients, employees,
vendors and society at large
INFOSYS CEO FINED
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First Indian company to articulate a set
of beliefs to guide business conduct as
early as in the 1970s Awarded the Ethics in Good Business
Award for the year 2002 by PHDCCI
Ethics- the major factor behind itssuccess.
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SOME FACTORS
Friendships factor into business interactions
Gift giving and reciprocity are natural aspects of the
Indian culture
Complicated social order often creates an ambivalentconcept of ethical behavior.
inefficient government bureaucracies
inadequate supply of infrastructure
access to financing
Vague government policies and lax enforcement
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