The term ETHICS comes from the Greek word ethos, which means "character".

Ethics IS also known as moral philosophy.

IT is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct.

Ethics may be divided into four major areas of study:
Meta-ethics
Normative ethics
Applied ethics
Descriptive ethics

ETHICS

attract customers to the firm's products, thereby boosting sales and profits

make employees want to stay with the business, reduce labor turnover and therefore increase productivity

attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees

attract investors and keep the company's share price high, thereby protecting the business from takeover.

IMPORTANCE OF ETHICS IN BUSINES

A problem or situation that requires a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Ethical issues vary according to changes in the social code and daily morality.

Employee Behavior

Employee Working Conditions

Supplier/Customer Relations

Small Business Ethics

What Are the Major Ethical Issues Business People Face?

One of the most fundamental business ethical issues is trust between a company and its customers.

Examples of business ethical decisions and dilemmas in areas such as:

You might think the above question is an easy one for businesses to answer? Surely acting ethically makes good business sense? As with all issues in business studies, there are two sides to every argument:

The advantages of ethical behavior include:
1. Higher revenues demand from positive consumer support
2. Improved brand and business awareness and recognition
3. Better employee motivation and recruitment
4. New sources of finance e.g. from ethical investors

The disadvantages claimed for ethical business include:
1. Higher costs e.g. sourcing from Fair trade suppliers rather than lowest price
2. Higher overheads e.g. training & communication of ethical policy
3. A danger of building up false expectations

Is ethical behavior good or bad for business?

How McDonalds Involved
In Unethical Practices

introduction

Founded in :::: May 15, 1940 inSan Bernardino,California

Founders :::: Richard and Maurice McDonald , Ray Kroc

Headquarters :::: Oak Brook, Illinois,U.S.

Fast food :::: hamburgerschicken French friessoft drinks coffeemilkshakes dessertsbreakfast

BEEF CASE OF McDONALDS

In May 2001, a class action lawsuitwas filed against the world's largest fast-food chain McDonald's, in Seattle, US.

Although McDonald's initially declined to comment on the issue, the company issued a 'conditional apology,' admitting to using beef flavoring in the fries.

WHAT ACTION TAKEN ????

Activists of Hindu fundamentalist groups - the Shiv Sena, the Vishwa Hindu Parishad (VHP) and the Bajrang Dal, staged a demonstration in front of the McDonald's head office in Delhi protesting the alleged use of beef flavouring.

AT THE END

The courtroom battle had entered the 11th month when McDonald's announced that it would issue a new apology and pay $ 10 million to vegetarians and religious groups in a proposed settlement of the lawsuits in March 2002...

CONCLUSION

Global case

McDonald's has defended itself in a case involvingworkers' rights. In 2001, the company was fined 12,400 by British magistrates for illegally employing and over-workingchild laborin one of its London restaurants. This is thought to be one of the largest fines imposed on a company for breaking laws relating to child working conditions

THANK YOU

EFFORTS BY :: BHARAT KHURANA ARVIND KUMAR

5/2/14

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