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Relevance of ethics and values in business

Management and ethics

Management of a business must be ethical, i.e. the business managers should take ethical decisions and ethical actions to achieve the objectives of the enterprise Top managers and their value system set the ethical tone of a company

Unethical

Bribing public officials Using false claims in advertisement Overlooking safety norms

Ethical issues & dilemmas


Feedback about performance Truth telling to peers Fair treatment of customers

Managerial tools for ethical practices


Mission statement Laying down core values Formulating business policies Formulating code of conduct Establishing grievance handling mechanism Ethical dilemma resolution workshops

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