Business Ethics | Presentation-1

BUSINESS
ETHICS
Task 1

1.1 Background and development
of ethical approaches
 Ethics is concerned with norms, beliefs and values which are
prevailing in society.
 Ethics defines the line between right and wrong and states
what correct thing to do is.
 In an organisation the ethics are implied as rules and
regulation and conduct the behaviour and action of
employees.
 With passing times ethics in business have become key
important for guiding the conduct of employees and overall
organisation.

Types of Ethical approach
 Duty based approach- Do as the managers instruct to do
even if employee do no want to the it.
 Right approach – basic right given to employee such as
focusing on social, economic, civil, and political policy
orientation.
 Utilitarian approach- to take an action regarding its
consequence, for eg: determination of net cost to all
stakeholders on individual level.

continue
 Virtue approach- honesty, courage, generosity, integrity,
compassion, fairness, fidelity, prudence and self-control.
 Justice approach- paying employees on the basis of
contribution made in work.
 Common good approach- providing basic needs such as
clean water to drink, healthy atmosphere with fresh air to
breath and work in.
 Egoism- not helping co-workers due to self-interest.