Concepts of Ethics and Professionalism in Business

Concepts of moral philosophy and Professionalism in trans care lineIntroduction spay is the sole(prenominal) constant factor in every twenty-four hour period life. It is witnessed from the St sensation mature to civilized age. When shift affects life it too affects the environment and hapicraft. The line of merchandise environment becomes extremely complex as de part inflicts variety and diversity lead story to deep and fundamental ways. change everywhere in the imbed, environments of credit line based on the expectation of beau monde has alerted railway line houses to realign its priorities. The changing scotch, political, legal and sociable environment has also made the line of work and agate linemen to consider the echt approach to concern. Therefore, there is paradigm shift from the goal of maximization of get or wealthiness to honourable heart and soul to arrive at them. The be cl years fool been marked the creation over for fastity of change ushered in by the advent of technology and industrial revolution. This period has also been marked for its attempt to generate unquestioning faith in tender reason and in sortect. The last century has witnessed that the intellect argon becoming the cornerstones of the participation. The rapid changes take over improved the cadence of living, also establishing a lot of intelligent relationships in and around the confederacy.There is a maturation realization t come forth ensemble over the world that moral philosophy is virtu aloney most-valuable for any origin and for the progress of any hunting lodge. ethics makes for an efficient delivery. moral philosophy is good in itself, ethics and profit go together in the long express and ethics alone can comfort the golf-club. An ethic on the wholey obligated governance is one, which has developed a culture for caring for the citizenry and for the bettorment of society as a satisfying. respectable motive has a con siderable influence on the economy for efficient and smooth functioning. The government, the laws can non always resolve genuine recognise problems of the society and business enterprise. good behavior enhances the quality of life. An ethic each(prenominal)y based economy can do wonders in the way of creating wealth or society.The chore of business is to optimize the outcome of economical activity. It is the economic environment of business, which is the radical circumstance in evaluating the business tactics. The present day economic environment of business is a complex phenomenon. The economic relations with the government, general, society and society influence the trend and hearty system of economy. bulk and society be decompose and parcel of an placement. flock want and need to be ethical non only in their private life unless also in public. The people are the ultimate sufferers if the affairs of the organization were conducted unethic tout ensembley which are detrimental to the society. Therefore, they have a annoying over this. Over the last two decades, there has been a shift in the attitudes of embodied and their executives towards ethics. A silent revolution is in under way in business ethics today. The ideas, beliefs and attitudes associated with the profit ethic are being ch aloneenged as never before. The historical idea of the divine right of capital no long-range applies. The changes in the determine, cultures and customs lead to change, which in swordplay lead to re-engineering of ethics.The world of business ethics is quite broad and its tentacles spread into a number of areas in the larger sphere of business society relationship. The favorable responsibilities of businessmen, for instance, intelligibly embroil ethics and morality. There is always a doubt in the approximation of the businessmen almost what is and what is non ethical. It is difficult to understand business or business society relationships, witho ut cognition of the ethics. calling ethics is what society expects from business. Mark Twain once said To be good is noble. To tell people how to be good is even nobler.*FCS, Senior Reader in Corporate Secretaryship, Alagappa University, Kraikudi.**Ph.D.What is Business ethics?ethical motive is defined as the strike of standards of conduct and moral judgment. ethics is the study of what ought to be, what is the ultimate good and how to achieve it. People have always thought that the primary purpose of business is to serve society. Business must have a sociable fealty differentwise business cannot enjoy affectionate sanction. It is a study of human beinge actions in respect of being right and wrong. Ethics is an attempt to peck that ought to be. Ethics forms critique of both ultimate values and goals and the heart and soul utilise in trying to achieve them. The history of business ethics displays a growing recognition of the need to examine the accessible transformations that have impacted organization, management and society. Ethics is a mass of moral article of beliefs or sets of values about what conduct ought to be. Ethics is a written or ad-lib set of legislations or rulers governing business or profession. Ethics is a study that constitutes good and bad conduct, including related values. It has to do with fulfilling the relationship with people and society at large. When this applied in a business context, it becomes business ethics. Ethics in business has become one of the most thought-provoking issues confronting the entire business community. Establishing ethical humour is like starting an unfading marathon. The first step should be to change unethical behavior. It is an on sledding process. It never stops. Ethics is a contract between the business and the community based upon certain values of principles. An effective program of ethics requires appointment and commission from all. The constituents should ensure commitment towa rds ethical behavior at all take aims. Ethical consideration and ethical behavior should run thro the marrow of the swot up and should be carried by the capillaries to all move. Maximizing return has made a paradigm shift towards to the concept that it should be ethically achieved. Mr.J.R.D. Tata in his hold words, ethical values have too often been ignored in recent years in the belief that quicker profits would be result.Major attributes of ethicsConcept The field of ethics may be conceived as a discipline, science, study or evaluation.Content The subject proposition of ethics is concerned with what is good or bad, right or wrong. purpose judgement is required to determine whether human action is ethical or not. The judgment concerns the overt act, not the motivations behind it. Behavior and its cause is that what which is judged.Standards Judgment is based upon standards, which are, of course, values.value The final element of ethics therefore, is the set of values an d criteria apply as standards for judging human conduct.Need for EthicsBusiness ethics are very much influenced by loving movements, social system and social preferences. No business can survive or grow without social harmony. Individuals values, however best they may be, are not sufficient to attain the maximum level of ethical makeance. Ethics and social indebtedness are necessary for the survival because of the highly competitive climate that prevails today. The climate in which business crops has become cold and unfriendly to day as a result of revelations of unethical behavior that have rocked nations and the world. Ethics is crucial for an efficient and smooth operating economy. An ethically based capitalist economy can do wonders in the way of creating wealth for society. According to economic philosopher, Adam Smith that our system of capitalism does not work come up unless it has the moral co-operation of its participants. Jewish theologian wrote Its what people do w hen they all are alone, when one is looking that makes all the difference between civilization and the jungle. Ethics is important because either government or legislation cannot do everything to protect society. Technology races ahead much faster than the government can regulate. People in an industry often know the dangers in a accompaniment technology better than government regulators who sit at a distance. Ethics is good in itself. Ethics is important to create a swimmingly and efficiently running economy. The Bhagavad Gita asks us not consider only the fruits of our actions. It invokes the judgement of fall downionless action. The concept of Gita of doing ones duty without seeking for the fruits, Manus concept of get debts as surface as property, the Mauriyan idea of accountability interpret a basis for Gandhijis belief that politics and business must work hand in hand for the development.Factors having impact on ethicsEthical considerations start by class, structure, ec onomic group, industry, professional group and so on. Business ethics has to be on par with the ethical code of the society in which it dies. It is essential that the business cleaves to the well-established ethics. The following are the factors that creates the basis to ethical consideration (a) Value, (b) coating,and (c) Transformation.VALUE determine are additions or accretions to the image. Values are not fixed. They change. As they undergo change the society and its constituents also have to undergo the process. When the values undergo a change it takes the culture along with it. Values are crucially important factor in business relationships. Values create credibleness with the public. It leave alone certainly add value to the concern and create more credibility by being morally responsible and accountable. This creates a federal agency in those who are directly and indirectly involved. An organization perceived by the public to be ethically, socially concerned go out b e honored and respected even those who have no knowledge of its actual functioning. Not only this enhances the credibility at heart itself but also with its employees. It creates a feeling of oneness among employees having a jet goal. For an separate business values derive from multitude of sources, such as mission of business as a social institution, the nation in which business is located, the vitrine of industry in which it is active and the nature. Over a period of period value become institutionalized with regard to business and society. These values perform two important functions. First they form as a make pass to business environment. Second, they become strong motivators for people in business. They become the reveal factor in the system relationship of business with society. Business has certain rights but it also has certain responsibilities to society and in turn society has certain rights and responsibilities in regard to business activity. Value-ethical attitude helps management for better decision- reservation. The decisions are in the interest of public, society and environment. Ethical decisions are in the interest of public, society and environment. Value added rather based ethical decision-making will make an organization and its decision-maker to look into all fonts of economic, social, politico-legal aspects.CULTURECulture is depict as human environment of humans. The system aspect of culture is the set of relationship that makes it viable for human beings to create a society to pass the accumulated learning of the species from generation to generation and continue to make the accumulations of learning. Culture refers to activities, thoughts, feelings and artifacts which man acquires as a member of the society. Cultural differences separate the ethical attitude of disparate people. Much more emphasis is given to construct and developing relationship and much less emphasis is given to the diddle concept issues.TRANSFORMATIONTra nsformation is yet another reason for the change in culture and values. Transformation with regard to communication, viewing, travelling, shopping, working and playing reckon a change in the ethics and ethical practice. These phenomenal increase and development in these areas brought about a social change amongst public, society and business. These have improved the life style and quality of life, which in turn has created a change in the cultural and cultural values delivery out a revolutionary change in the ethical standards. Change is a permanent feature on mans social life and social system in the form of transformation. The economy as a whole has been through five revolutions in the twentieth century, which have transformed its base structure and method of functioning.IMPORTANCE OF ETHICSEthics corresponds to basic human needs. Most people want to be ethical not only in their private lives but also in their business affairs. People want to be part of the organization, becau se they perceive its purpose and activity to be beneficial to society. The basic ethical needs are probably one of the most cogent reasons for ethical concern on the part of organizations.Ethics create credibility with the public. A union perceived by the public to be ethically and socially concerned would be honoured and respected even by those who have no intimate knowledge of its actual working. Gaining the confidence of the community is vital to the business sector. Public opinion is the most fibrous military force in a democratic society. It is a way of achieving higher(prenominal) standards ethical behavior.Ethics give management credibility with employees. It provides a common language for aligning a companys leadership and its people. Ethics when perceived by employees as genuine create common goals, values and language. The management has credibility with its employees because it enjoys credibility with the public. It creates oneness among the employees.Ethics help in be tter decision-making. Ethical decision made by the company will always be in the interest of the shareholders, stakeholders, public and their employees. This is because respect for ethics will force the management to consider all aspects of a question both economic, social and ethical aspects.ETHICS IN MANGEMENTEthics are principles of conduct used to govern the decision-making and behavior of an individual or group of individuals. Management is concerned with making decisions within an organization. Ethics of the individual or group making decision have significant implications for the organizations stakeholders, employees, customers, shareholders, suppliers, the government and the public at large. It is important to develop code of ethics for decision-making. A code of ethics is a written document that outlines the principles of conduct to be used in making decisions. Code of ethics is based on philosophical approaches justice, individual rights and utilitarianism. The principle o f justice involves making decisions based on truth, without bias and consistency. The principle of individual rights concerns making decision based on protecting human dignity. The principle of utilitarianism involves making decisions directed towards promoting the greatest number of people. The Laws relating to ethics in business speaks about consumer protection, product safety, shareholders and stakeholders rights and environmental protection. Having a code of ethics with an instruction execution program is the minimum requirement for reputation of the management. Ethics focus its anxiety on solving not only the inbred problems of the concern but also of the society at large. The economy as a whole has been thro five revolutions in the twentieth century, which have transformed its basic structure and method of functioning. First, the organizational revolution led to increase in number, coat and power of organizations of all types. Second, the bodied revolution expanded the sc ale of business enterprise and led to dominate of modern big business corporations. Third, the managerial revolution saw the emergence of a class of professional mangers who took over the active control of large corporation. Fourth, the property revolution separated self-possession and management and diffused property rights within the corporation. Finally, the capitalist revolution brought about a change in the moral order of capitalism and greatly enlarged the public eccentric of business and the economic role of government. In this changed socio-economic environment the focus of business ethics is on social responsibility. amicable responsibility is a reaction to the goals of the society and the economic, technological, social and political forces that sour the society.The ethics in the business community is not alienated or any different from the ethics in the society at large. The codes of ethics, legislative changes and the standards will not result in the desired holistic change. It is the mind set of the concerned people which matter most and not the fall that forces compliance with reluctance. Hence, there is an imperative need on the part of the collective sector and profession to create a higher standard of openness, truthfulness, honesty, clarity, transparence and accuracy to ensure that all the stake holders have the best possible convictionly teaching. The corporates in general and professionals in particular must adhere to the highest ethical standards and assume a positive duty to unfold and update equivocally material information.Institutionalizing EthicsA business that seriously desires to operate in an ethical environment has to institutionalize ethics by mechanical drawing up a company policy and code of ethics, familiarizing all concerned at all levels with the code of ethics and ensuring the implementation. Code of ethics is nothing but a blue print of what is going to followed and select by the company from then onwards. The co mpanys ethical code should be printed and circulated to all those who deal with the company, by clearly bringing out what is unethical conduct. The company may appoint ethics committee which offer training within and outside. The duty of the committee is to report periodically to the Board and offer proposal for the betterment. The committee must also review the code of ethics from time to time keeping pace with the changing environment. Business ethics has to be practiced and preached. Before setting business standards, ethics and morality have to be internalized so that they become a part of the blood stream. If the corporate becomes committed to self-imposed standards of business morality the whole countrys standards could be influenced. education of Program of EthicsMerely endorsing a standard code or copying that of another will not suffice. It is important to find out on what topics and areas require guidance.Select a prominent personality to approve the business ethics poli cy.Choose a framework, which addresses issues as they affect different constituents or shareholders of the company. The usual ones are shareholders, employees, customers, suppliers, and local/national community. Some big businessman even include competitors.The code needs piloting perhaps with a sample drawn from all levels from different locations.The code of conduct enclose should be distributed in booklet form.Publish and send the code to all concerned.Values and ethics are matters of governance. The board must be notified to involve themselves for ethical policing.Practical examples of the code in action should be introduced into all areas.Training for all concerned.Review mechanism should be established.A code master needs to be appointed.facets of business ethicsStakeholder/Shareholders or other providers of coinTransparency and openness in all dealings. Providing adequate information to the shareholders/stakeholders. The investment protection and return on investment.Empl oyeesHow the business values employees ? The companys policies on working conditions, recruitment, development and training, rewards, health, safety security, equal opportunities, retirement, redundancy, discrimination and harassment.Customer dealingsCustomer satisfaction. Quality of product or service dealt. Fair pricing. After-sales service. nightspot/CommunityThe laws of the society and community are to be respected. Environmental protection, pollution abatement, Energy Conservation. In short improving the standard and quality of life. politicsBusiness ethics from the point of view of business and businessmen is to provide information to the government in all matters that is required to be. Following the guidelines, policies and standard set up by the government. Paying the taxes that is legitimately due to the government.A growing global rolePeople around the globe are more connected to each other than ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent. International communication is commonplace. This phenomenon has been titled globalization. charm some people think of globalization as primarily a synonym for global business, it is much more than that. The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labour organizers, journalists, academics, and many others to work on a global stage.It means communication, interconnectedness.It means accomplishing things easier, cheaper, and quicker.Something on a bigger scope than local.It means opportunity, trim back mess barriers, growth.It means that there are many different ways to do things, all of which are valid in their own right.It means a composite of things, an aggregate view.It means reallocating resources away from poorer nations to wealthier nations.Its meaning depends on your poin t of view.Globalization is a medium which touches nearly every aspect of contemporary live in the civilized world. Globalization is the engine of trade and of explosive economic prosperity. Globalization is a dynamic concept of popular proportions. The result is the pressure on business to play a role in social issues will continue to grow. There is a growing interest, therefore, in businesses taking a lead in addressing those issues in which they have an interest where government has failed to come up with a solution. It is the continuing commitment by business to behave fairly and responsibly and contribute to economic development while improving the quality of life as well as of the community and society at large.Unless there is accountability and hydrofoil in the dealings the business cannot be socially responsible. The values of accountability, social responsibility, long-term vision, and ethical behavior have become more important. The wealth maximization or profit maximizat ion begins at the floor level leading to value addition. When once value is added the concept of social responsibility would creep in. The present day scenario is different and far from reality.The world is entryway a century with unprecedented changes for peace and progress. Globalization is the buzzword in the context. Business is the silken thread that binds the whole world. Therefore globalization of ethics is needed. The need is envisaged in the following areas.Global need forStable and honest governmentsTransparency and openness to promote honesty in governmentsCommitment to internationally recognized human rightsDevelopmental programs for environmental protection, pollution control, energy savingEvolution for world code of ethics for businessConclusionA society cannot function without a set of values. club is undergoing social change. Business system is a product of customs and beliefs of the society in which it exists. Ethics is a study of what is right and wrong. Ethical considerations decide whether the business enterprise is on par with the societys needs. Society is undergoing social change due to ethical considerations. So long as the value systems and philosophies of business go together, society will accept it. The resultant contribution would be positive. Social and ethical challenges in business take several forms and the impact is multidimensional and corporate governance is the key phrase. The changes that are taking place in the internal and external environment in which the business operates gave rise to a re-identification of their mission statement as BE INFORMED. BE INVOLVED. MAKE A DIFFERENCE. This radical ethical standard and social attitude is blooming everywhere.References1.Bowie, Norman E Business Ethics Prentice Hall Inc., New Jersy.2.Davis Keith Blomstrom.R.L. Business Society McGraw Hill, New York.3.Donaldson, John Others Business Ethics Academic Press, London.4.Dr. Robert F. Drainan Globalizaion and Corporate Ethics JRD TATA foundation for ethics in Business, XLRI Jamshedpur.5.Kumar.A, Joshi.K.M, Jagni.B.J. Ethical Issues in Management solid ground Publishers, New Delhi.6.Mathias,T.A.Sj Corporate Ethics Allied Publishers, New Delhi.