Good evening and thank you for coming here
Let me introduce myself my name is Usman Razzaq
Subject of my topic today is Business Ethics
I have divided my presentation into four main parts
First Ethics in managing
Second Ethical theories
then Institutionalizing ethics
and lastly Factors that raise ethical standards
Starting with Ethics in Managing
Business ethics is concerned with truth justice and has a variety of aspects, such as the expectations of society, fair compensation, and corporate behavior in the home country as well as abroad.
Ideal Corporation must be built on integrity, ethics, fairness and trust. The new corporate model must be more transparent for investors, suppliers, customers, and employees. Performance and data need to be accurate so that investors can trust the numbers. Executives’ pay must be perceived as being fair. The more open corporate culture needs to emphasize accountability, and employees must feel free to report unethical and unfair practices.
My next point is ETHICAL THEORIES
Three basic types of moral theories in fields of normative ethics have been developed. First the utilitarian theory suggests that plans and actions should be evaluated by their consequences. The underlying idea is that plans or action should produce the greatest good for greatest number of people. Second theory based on rights holds that all people have basic rights. Third the theory of justice demands that decision-makers be guided by fairness and equity, as well as impartiality.
I’d like to move on to Institutionalizing ETHICS
Managers especially top managers, do have a responsibility to create an organizational environment that fosters ethical decision making by institutionalizing ethics. This means applying and integrating ethical concepts with daily actions. The most common way to institutionalizing ethics is to establish a code of ethics: much less common is the use of ethics committees.
Now Look at FCATORS THAT RAISE ETHICAL...