Reflective Notes

Ethics Definition:-

Moral philosophy or code of morals practiced by a person or group of people is known as

ethics.

Ethics in personal life refers to the standards of conduct and behaviour of an individual with
respect to his or her moral principle and values.

The reasons for having high ethical standards include:

 A higher moral within your employees and the organization

 It help to attract new customers
 It builds higher customer loyalty
 It reduces the risk of negative press or backlash caused by doing “the wrong” things
 It helps to make a positive impact on the community

All have some values and belief; the values will start from our childhood from parents, in
school form teachers and from friends. By teaching how to behave in a society, how to behave
with others not to hurt anyone physically and psychologically .later our values become strong
and takes the shape according to our religion, region, culture and our philosophies.

The relation between ethics and business; personal ethics is always different from
organizational ethics. Business ethics contains many issues where organizations commit frauds
to earn more profit without considering their stake holders. Organizational ethics contains what
is right or wrong in the organization.

We strongly belief that all what we do is always correct with moral overconfidence. Everyone
find mistakes in others but never understand about the situation and never imagine what would
do if they are in that place.

Not accepting the mistakes done and telling reasons for those mistakes is known as moral
disengagement. As her manager or leader should accept the mistake always but without giving
any reasons. The main objective is to makes us aware of what is what is wrong and what is
right.

There are seven important Indian values, they are

Truth, fairness, liberal giving, forbearance, non-violence, dedication and

renunciation, among many others.
Ethical Dilemma makes to us what to choose between two alternatives. Ethical dilemmas
always occur when our personal beliefs and organizational values are different. Decision should
be made carefully by analyzing it, who or what is right and wrong. The less harmful decision
should be made.

Corporate culture and ethics

Corporate culture is the values and beliefs which the organization practices and it is followed by
all the members of the organization. Every company’s main objective is to get profits.

Fairness in the workplace:

The employee’s should feel safety in their work place of the company. There should know about
the fire exit and how to take care in case of manufacturing industries. By providing them helmets
etc…and HSE (health, safety and environment) is very important .

Marketing:

Which deals with the moral principle behind the operation and regulation of marketing is
known as marketing ethics. The marketing ethics includes in

Marketing effectiveness, market research, market segmentation, market strategy, market

management, market dominance.

Ethics in pricing and advertisement

Now-a-days there is lot of advertisements for the products in the market. By advertisement there
influencing the people to buy them and creating false beliefs like saying that beauty of product.
These activities are unethics because they are causing dissatisfaction in the people and making
them buys the product for unwanted thing or usage.

Corporate govemance

The stake holders should be giving importance and mainly there are some rights for the share
holders where their right to property is protected in corporate governance.