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    Factors Influencing Business Ethics

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    Aparna Devi
    This document discusses factors that influence business ethics, including internal and external factors. Internal factors are under a company's control and include its people, vision, strategies, rewards, leadership, and culture. External factors outside a company's control include society, religion, government laws, technology, competition, and reputation. There are also three major influences on ethical decision making: workplace ethics like corporate culture; the nature of the ethical issue itself; and personal values and moral standards like trustworthiness, respect, responsibility, fairness, caring, and good citizenship.

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    Factors Influencing Business Ethics

    Uploaded by

    Aparna Devi
    4K views16 pages
    This document discusses factors that influence business ethics, including internal and external factors. Internal factors are under a company's control and include its people, vision, strategies, rewards, leadership, and culture. External factors outside a company's control include society, religion, government laws, technology, competition, and reputation. There are also three major influences on ethical decision making: workplace ethics like corporate culture; the nature of the ethical issue itself; and personal values and moral standards like trustworthiness, respect, responsibility, fairness, caring, and good citizenship.

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    This document discusses factors that influence business ethics, including internal and external factors. Internal factors are under a company's control and include its people, vision, strategies, rewards, leadership, and culture. External factors outside a company's control include society, religion, government laws, technology, competition, and reputation. There are also three major influences on ethical decision making: workplace ethics like corporate culture; the nature of the ethical issue itself; and personal values and moral standards like trustworthiness, respect, responsibility, fairness, caring, and good citizenship.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    4K views16 pages

    Factors Influencing Business Ethics

    Uploaded by

    Aparna Devi
    This document discusses factors that influence business ethics, including internal and external factors. Internal factors are under a company's control and include its people, vision, strategies, rewards, leadership, and culture. External factors outside a company's control include society, religion, government laws, technology, competition, and reputation. There are also three major influences on ethical decision making: workplace ethics like corporate culture; the nature of the ethical issue itself; and personal values and moral standards like trustworthiness, respect, responsibility, fairness, caring, and good citizenship.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16
    At a glance
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    The key takeaways are the factors influencing business ethics including internal factors like people and leadership that can be controlled, and external factors like society, government and competition that cannot be controlled.

    The internal factors are people, vision statement, strategies, rewards, targets, budgets, profits, working conditions and leadership. The external factors are society, religion and culture, government laws, technology, competition and reputation quotient.

    The three major influences on ethical decision making are work place ethics, the nature of the ethical issue, and personal values and moral standards.

    Factors influencing business ethics

    Business ethics
    Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment.

    Factors influencing business ethics


    Internal factors : (can be controlled by proper management) External factors: (no control by mgt)

    Internal factors
    People : individual characteristics Vision statement: policies and programmes Strategies Rewards Targets and budgets Profits Working condition Leadership Corporate culture

    External factors
    Society Religion and culture Government ,laws Technology Competition Reputation quotient (RQ): higher RQ gives better financial performance

    Influences on ethical decision making


    3 major influences:
    Work place ethics Nature of ethical issue Personal values and moral standards

    Work place ethics


    Set of values that are part of the workplace corporate culture Set of beliefs, goals, norms and the manner of solving problems that workers of the organisation share. If these are straight forward wont affect an ethically sensitive employee Vice versa

    Nature of ethical issue


    Ethical issue arises because of conflicts among individual values and organisational values Work envt is a conglomerate of hundreds of individuals having different values,thus leads to further issues

    Personal values
    6 pillars of character
    Trust worthiness Respect Responsibility Fairness Caring citizenship

    1 - Trust worthiness
    Trustworthiness is a moral value considered to be a virtue. A person can prove their trustworthiness by fulfilling an assigned responsibility - and as an extension of that, not to let down expectations In order for trust to be earned, worth and integrity must be proven over time. It can also be related with reliability , loyalty , etc..

    2 - Respect
    Accept each others individuality and differences in human nature and beliefs without prejudice. If so less ethical dilemmas would be there to solve

    3 - Responsibility
    Carry out a duty It also means being accountable for ones action Ethical people show responsibility by being accountable, pursuing excellence and existing self restraint. They exhibit the ability to respond to expectations.

    4 - Fairness
    Ones ability to view persons or events equally To be fair, a person must be impartial, equitable, open and follow due process.

    5 - Caring
    It is the heart of ethics People who do not posses the sense of caring may not care to be fair, honest , loyal or respectful towards others

    6 - Citizenship
    A good citizen obeys laws of the place, stays informed of the issues of the day, observes the rules and regulations and also enjoys the privileges entitled to a citizen A good corporate citizen should discharge his duties and responsibilities to all its stakeholders.

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