EVOLUTION OF ETHICS

Pre Historic period Historic period Current period (Sati Example)

CLASSIFICATION OF ETHICS
Normative
Study of right & wrong Moral science

Applied
Study of specific issues Specific human action

Meta
Cognitive study Philosophy

DIMENSIONS OF BUSINESS ETHICS

Business for profit Business with ethics Character of business
Conflict between seller & buyer

Professional ethics
Character Compensation Competency Professional characteristics (Duty List Example) (Good Bye Mr. Chips)

ETHICS & LAW

Adequacy of law
Law is enough Ethics not necessary

Ethics as the principal cause of law

Cause is immaterial Effect is everything

Business bashing
Too many laws in the context of ethics (HP chairman Example)

RIGHTS
Employer
Right to conduct business

Employee
Right to organise and engage in collective bargaining

KINDS OF RIGHTS
Legal & Moral Specific & General Negative & Positive

TYPES OF JUSTICE
Distributive
Distribution of benefits & burden

Compensatory Justice
Compensating for wrongful act

Re distributive
Punishment to wrong doers

NORMATIVE THEORIES
Stockholder Theory Stakeholder Theory Social Contract Theory

CARE
Conflicts and Compromises among ethical values
Unethical act Good to the business/organisation

Sale of cigarettes, liquor and pan

(Placement Example)

For and Against Business Ethics

Need for business ethics and compatibility with profits

Objections Against Business Ethics

Competitive market will see that the consumers are served in the most socially benefit ways Business manager should concentrate only on serving business and not consumers Law is enough and ethics are not necessary

ARGUMENTS FOR Business Ethics

Ethics should govern all human activity and business is a human activity Business cannot survive, unless people in business and around business adhere to minimum ethical standard Companies with good history of ethics have made good profits Customers & employees care about ethics