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Assign. Business Ethics
Assign. Business Ethics
Assign. Business Ethics
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ASSIGNMENT
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BUSINESS ETHICS
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INSTITUTE OF MANAGEMENT SCIENCES
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UNIVERSITY OF LUCKNOW
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MBA – FC II
200012135122
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Presented To : RAVI TOLANI SIR
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INTRODUCTION OF PHILANTHROPY:
Philanthropy involves charitable giving to worthy causes on a large scale.
Philanthropy must be more than just a charitable donation. It is an effort an
individual or organization undertakes based on an altruistic desire to improve
human welfare.
You can practice philanthropy by making a monetary gift, such as a donation to
a cause you believe in. You can also practice philanthropy by giving your time—
serving in a soup kitchen, tutoring a teen or engaging in any other volunteer
activity that aims to improve lives.
CHARITY VS PHILANTHROPY
Charity is the actual action that is taken to improve someone’s life : stocking
shelves at a food bank, building shelters for refugees or providing medical care
after a disaster etc. but Philanthropy is what supplies charities with the funds,
personnel and equipment they need.
PHILANTHROPY IN INDIA
An assurance unto all creatures with love and affection and abstention from every kind of
injury, acts of kindness and favor done to a person in distress, whatever gifts are made
without the giver's ever thinking of them as gifts made by him, constitute, O chief of
Bharata's race, the highest and best of gifts (dāna).
Dāna is a Sanskrit and Pali word that connotes the virtue of generosity, charity
or giving of alms in Indian philosophies. It is alternatively transliterated as
daana. Dharma needs to be seen within the framework of the traditional
extended Hindu family, whichplays the role of a welfare state. The wealth a
person acquires is not for him/her but for thewelfare of the extended family
and others. One has a responsibility towards those members of
The well-known Hindu text the Bhagavad-Gita speaks of three types of giving:
-(Bhagavad-Gita 17.20-22)
Any giving that is motivated by selfish considerations loses its value from the
spiritual point of view. It is not so much wealth that brings happiness and
peace but our attitude to possessions. Hindu philosophical texts such as the Isa
Upanishad points to the fact that true enjoyment and peace lie in detachment
from wealth. We are not asked to renounce wealth but rather our sense of
possession. Whatever we give will have no value if we part with our wealth
reluctantly.
One of the commonest types of giving is Anna Dana, the sharing of food with
others. It is essential for one's strict obligation (dharma) to offer food to any
sudden visitor. In the conventional custom a householder is relied upon to
participate in food solely after it has been respectfully offered to the gods, the
predecessors, the beggar, and those ward on him. The act of anna dana is
normal to all areas of Indian culture and keeps on being a significant part of
individual’s lifestyle.
Good cause is more than just giving; it includes the sharing of assets with
others, be it riches, food or different things. It might include providing for
humanitarian causes – giving rest-houses, planting trees, burrowing wells. The
Chinese researcher Hiuen-Tsiang, who visited India in the seventh century
during the time of the Indian ruler Harshavardhana, recorded the lord's liberal
sharing of his abundance with his kin. Additionally, the rulers of Thanjavur in
the nineteenth century were prestigious for building up chatrams, focuses of
friendliness situated along the way to explorer focuses, which dealt with the
penniless, the debilitated and the individuals who kicked the bucket in their
consideration.
Hindu convictions like maya, karma and resurrection have been viewed as not
helpful for progress. Maya, which signifies 'dream', is to a great extent
comprehended from an exacting perspective: this world is a hallucination and
there is thusly no reason for evolving it. Truth be told the term maya is likewise
used to show that this world is an appearance of the heavenly innovative
force. Seen properly, maya doesn't prevent the truth from getting the
experimental world. Despite the fact that inside the practice there is both
certification and nullification of this world, it is the refutation that has been
given select accentuation in certain ways to deal with Hinduism.
PHILANTHROPY IN ISLAM
The Qur’an verses says: “But righteous is the one who… gives away wealth, out of
love for Him to the near of kin and the orphans and the needy and the wayfarer
and to those who ask, and to set slaves free” (2:177)
OBLIGATORY PHILANTHROPY
The Qur’an does not specify a prescribed percentage, but the customary
practice is to pay 2.5% on capital assets and 20% on other assets such as
agricultural goods, precious metals, minerals and livestock. All possessions can
be classified into either zakatable or non-zakatable wealth. The Islamic practice
of zakat was first initiated by Prophet Muhammad saww. and is the first known
system of community-wide welfare that is structured as a social support
network for those in need. The act of giving zakat is also one of the five
fundamental requirements of practising the faith for Muslims. Because it is less
voluntary and more of a prescribed religious observance, zakat is an extremely
meaningful institution with a clearly defined religioussocial-economic
mandate.
The act of giving zakat is also one of the five fundamental requirements of
practising the faith for Muslims.
The primary goal of Fitrana is to provide those in need with the ability to
celebrate Eid-ul-Fitr, the festival of breaking the fast, along with the rest of the
Muslims. Every mature and financially able Muslim is required to pay the
Fitrana for themselves and on behalf of their dependents. In the context of
Fitrana, dependent refers to anyone who is in a person’s care. This could mean
their children, parents, siblings or any individual for whom one is responsible.
The prescribed amount payable for Fitrana is the same for all Muslims,
regardless of their income bracket or wealth. However, if an individual is
unable to meet their own expenses, as well as those of their family for a period
of one lunar year (and has no one who can meet these expenses for them),
they are exempt from Fitrana.
VOLUNTARY PHILANTHROPY
SADAQA often goes beyond financial contributions to include any act of
giving out of compassion or generosity that is done to benefit others.
The Prophet said: “Every act of goodness is sadaqa”; and “there is a
sadaqa due on every Muslim. If he cannot give because he has no
money, let him work so he can support himself and give charity; if he is
unable to work, then let him help someone in need of his help; if he
cannot do that, let him adjoin good; if he cannot do that, then he should
not do evil or harm others. The beneficiaries of sadaqa do not need to
be Muslims.
Sadaqa often goes beyond financial contributions to include any act of giving
out of compassion or generosity that is done to benefit others.
WAQF is the permanent dedication, by a Muslim, of any property for any
purpose recognised by Islamic law as religious, pious or charitable. Waqf
causes the transfer of ownership, of the thing dedicated, to God. But as
God is above using or enjoying any property, its profits are reverted,
devoted or applied to the benefit of mankind. Any property can be the
subject of waqf. The validity of a waqf is determined by the possibility of
everlasting benefit being derived from it by any form of dealing of which
it is capable, or by converting it into something else.
Under both a waqf and a trust, the endowment or property is reserved only for
the use and benefit of the purpose (be it general or specific) identified in the
contract.
PHILANTHROPY IN BUDDHISM
At the point when they start to investigate Buddhism, a great many people are
struck by how omnipresent the act of liberality is. Exercises in a Buddhist
community are supported for the most part through Dana (liberality) as
opposed to from some rich focal office, or through expenses and offerings.
It's the finish of a wet June evening of house to house gathering pledges for
the Karuna Trust's ventures in India. This is the fourth night that I've had no
outcomes. Abruptly, cordial couples are opening the entryway. 'Goodness
indeed, we read the booklet you left,' they say. 'We like what you're doing.
We'll do an agreement. Come in.' after ten minutes they're back to taking care
of the child and I'm out on the road again and pondering about the wizardry of
raising money. For what reason would a few group like to provide for others
who live large number of miles far off, and at as incredible a social distance?
What's more, how can it be that virtually all contributors I join finish up by
saying thanks to me? By one way or another I can't move away from reality
that the giving has been two-way.
Lamentably, regardless of the best, when you take a gander at the exercises of
Buddhist people group on the planet today, you will most likely not be dazzled
by the extent of helpful movement, in contrast with that of, for instance, the
Christian temples worldwide.
Buddhists all through the world are associated with their networks, and are
dynamic socially and strategically; there are some exceptional instances of
Buddhist social activism and compassionate giving. Nonetheless, the common
impression of Buddhism by the more extensive world is of a religion that
energizes withdrawal from the world, that instructs that affliction, regardless
of whether one's own or others', is to be risen above and not reduced.
THE PRECEPT OF KARMA MISCONSTRUED
There is a doctrinal reason for the disparity between the ideal and the truth of
Buddhist charitable movement that is a higher priority than the monetary. The
Buddhist lessons on karma and resurrection are frequently perceived to mean:
all that you are and all that happens to you are an aftereffect of your activities,
regardless of whether in this life or in the past. To give a pitiful however real
model, cited to the creator by a Buddhist educator: if a youngster is brought
into the world in a disaster area, that mishap was its own issue since activities
in a past life have conceived organic product in the states of the kid's
introduction to the world. Numerous Buddhists, east and west, share this
misconception; to buy in to it is to work under a passivity of the most
outrageous structure.
PHILANTHROPY IN SIKHISM
Nanak’s criticism of the society of the day and his lack of worldly ambition
worried his father, Bhai Kalu, a successful businessman. He wanted his son to
follow in his footsteps. One day he decided to put his son to the test. He gave
the teenaged Nanak some money and told him to go to town to find a
profitable investment. Nanak dutifully went off, accompanied by his friend,
Bala. As they neared the town, Nanak saw a group of people emaciated and
shivering in the wintercold. It was clear that they had not eaten for days.
Nanak continued on his journey until he eached a large market. There, ignoring
Bala’s warnings about Kalu’s wrath, he used up all his money buying food and
blankets, which he gave to the poor and starving people he had met earlier.
LANGAR
The story of Bhai Khannia illustrates another aspect of Sikh teaching on service
to others. The background to the story is that of active persecution of the
infant Sikh community by the ruling Mughal authorities at the time of the last
living Guru of the Sikhs, Guru Gobind Singh. Sometimes the persecution led to
active conflict
Sikh teachings remind us that there are three aspects to positive living:
meditating on God, earning by one’s own effort and sharing with others.
Meditation consists of reading and reflecting on the Holy Scriptures in a way
that helps us to focus on positive living rather than on trivial things that can so
easily deflect us. Earning by one’s own effort is a reminder of the need to live a
life without begging or depending on the effort of others if we are able to work
ourselves. These two teachings take us to the third and most important:
sharing with or giving to others. The giving can take the form of money, food,
or simply time.
Equally, they taught the full equality of women and insisted that those
they described as ‘princesses’ should be encouraged to play their full part in
society.
PHILANTHROPY IN CHRISTIANITY
Charity, in Christian thought, the highest form of love, signifying the reciprocal
love between God and man that is made manifest in unselfish love of one’s
fellow men. St. Paul’s classical description of charity is found in the New
Testament. In Christian theology and ethics, charity is most eloquently shown
in the life, teachings, and death of Jesus Christ.
Using this definition and others from the Christian tradition, the medieval
theologians, especially St. Thomas Aquinas, placed charity in the context of the
other Christian virtues and specified its role as “the foundation or root” of
them all.
Although the controversies of the Reformation dealt more with the definition
of faith than with either hope or charity, the Reformers identified the
uniqueness of God’s agāpe for man as unmerited love; therefore, they
required that charity, as man’s love for man, be based not upon the desirability
of its object but upon the transformation of its subject through the power of
divine agape.
NATURE OF CHRISTIAN PHILANTHROPY
The term “philanthropy” derives from two Greek roots, philos (love, affection),
and anthropos (mankind). The word thus reflects that disposition wherein one
is inclined to love his fellow man, apart from self-interest. Forms of the Greek
term philanthropy are found three times in the New Testament. In the record
of the Acts, Luke employs the noun of the disposition of the citizens of Melita
(Malta). These benevolent folks demonstrated uncommon “kindness”
(philanthropic) to Paul and his sailing companions when they were thrust
ashore on the island during a violent Mediterranean storm.
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TOPIC – II
CSR-CUSTOMER SOCIAL RESPONSIBILITY
In the 1990s and 2000s, governments in several countries around the world
started putting in place regulations that created the foundations for modern
CSR. In France, NRE laws were the first to force companies to communicate
their performance in terms of sustainable development. These laws were then
followed by various regulations such as the Grenelle Laws or the Laws of
Vigilance.
On a global scope, there is no “law” that forces companies to put in place a CSR
strategy. Nevertheless, many states have developed a set of regulations that
frame CSR, in particular by encouraging companies to be more responsible. On
the other hand, there is an international institution that publishes guides for
companies to guide them on their CSR strategy. The ISO (International
Standard Organization) allows companies to have a common frame of
reference in order to implement their CSR strategy.
Corporate social responsibility is a broad concept that can take many forms
depending on the company and industry. Through CSR programs, philanthropy,
and volunteer efforts, businesses can benefit society while boosting their
brands.
As important as CSR is for the community, it is equally valuable for a company.
CSR activities can help forge a stronger bond between employees and
corporations, boost morale and help both employees and employers feel more
connected with the world around them.
KEY POINTS
Starbucks has long been known for its keen sense of corporate social
responsibility and commitment to sustainability and community welfare.
According to the company, Starbucks has achieved many of its CSR milestones
since it opened its doors. According to its 2019 Global Social Impact Report,
these milestones include reaching 99% of ethically sourced coffee, creating a
global network of farmers, pioneering green building throughout its stores,
contributing millions of hours of community service, and creating a
groundbreaking college program for its partner/employees.
Starbucks' goals for 2020 and beyond include hiring 10,000 refugees, reducing
the environmental impact of its cups, and engaging its employees in
environmental leadership.
Today there are many socially responsible companies whose brands are known
for their CSR programs, such as Ben & Jerry's ice cream and Everlane, a
clothing retailer.
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SPECIAL CONSIDERATIONS
Instead, ISO 26000 clarifies what social responsibility is and helps organizations
translate CSR principles into practical actions. The standard is aimed at all
types of organizations, regardless of their activity, size, or location. And,
because many key stakeholders from around the world contributed to
developing ISO 26000, this standard represents an international consensus. A
properly implemented CSR concept can bring along a variety of competitive
advantages, such as enhanced access to capital and markets, increased sales
and profits, operational cost savings, improved productivity and quality,
efficient human resource base, improved brand image and reputation,
enhanced customer loyalty, better decision making and risk management
processes.
THE PATH OF CSR AND THE CSR TOOLS USED TODAY
Many tools are being developed to enable companies to better quantify their
performance and actions in terms of sustainable development. For example,
companies now use LCA (Life Cycle Assessment) to quantify their greenhouse
gas emissions and their impacts on the environment and make CSR or
sustainability reports to assess and share their positive and negative
contributions to the environment and society. Some do it because it’s
mandatory (for instance, by the EU, if they’re big companies) or because they
want to improve their reputation and employer branding. The Path of CSR and
the CSR Tools Used Today Many tools are being developed to enable
companies to better quantify their performance and actions in terms of
sustainable development. For example, companies now use LCA (Life Cycle
Assessment) to quantify their greenhouse gas emissions and their impacts on
the environment and make CSR or sustainability reports to assess and share
their positive and negative contributions to the environment and society.
Some do it because it’s mandatory (for instance, by the EU, if they’re big
companies) or because they want to improve their reputation and employer
branding.
REFERENCES :
THANK YOU
Presented by: Syed Basheer Haider Rizvi
MBA FC –II 200012135122
IMS – UNIVERSITY OF LUCKNOW