Ethics and Morals

The word ‘Ethics’ is derived from the Ancient Greek ēthikos- meaning character is the essence of values and habits of a person or group.

It has many definitions . According to one “ethics are the principles of conduct governing an individual or a group”. Another describes “ethics as relating to what is good or bad, and having to do with moral duty and obligation.”

The word “Moral” is defined as relating to principles of right and wrong. Although both words are broadly defined in contemporary English as having to do with right and wrong conduct, the root word for ethics is the Greek “ethos,” meaning “character”, while the root word for Moral is Latin “mos,” meaning “custom.”

Character is a personal attribute, while custom is defined by a
group over time. People have character. Societies have custom.

Another way to look at the distinction is to say that morals are accepted from an authority (cultural, religious, etc.), while ethics are accepted because they follow from personally accepted principles.

Moral norms can usually be expressed as general rules and statements such as “always tell the truth.” and are typically first absorbed as a child from family, friends, school, religious teachings and other associations. Morals work on a smaller scale than ethics, more reliably, but by addressing human needs for belonging and emulation, while ethics has a much wider
scope.

Meaning of Values and Culture in Business Ethics

Values
Values can be defined as broad preferences concerning appropriate courses of action or outcomes. As such, values reflect a person‟s sense of right and wrong or what “ought” to be.
“Equal rights for all”, “Excellence deserves admiration”, and “People should be treated with respect and dignity” are representative of values. Values tend to influence attitudes and behavior. Values are personal and may vary from one to another.

Values are partly inherited and partly learned. Values are related to the norms of a culture, but they are more global and abstract than norms. Norms are rules for behavior in specific situations, while values identify what should be judged as good or evil. Flying the national flag on a holiday is a norm, but it reflects the value of patriotism.
Culture
We define a culture as a set of characteristics that sets one group of people apart from another. Another way to think about this is that a culture defines how a set of abstract principles is translated into day-to-day behavior. That is, we all have a set of nearly instinctive “default
behaviors,” programmed into us from infancy, which represent accepted norms and modes within our local environment. Of course, we can consciously choose to behave outside these norms, which we may well do in unusual situations.

Culture is the collective programming of the mind which distinguishes the members of one human group from another. Culture is patterned ways of thinking, feeling and reacting, acquired and transmitted mainly by symbols. Culture is a learned behavior. People learn do‟s & don‟t as they grow up.
“A system of values and norms that are shared among a group of people and that when taken together constitute a design for living.” – Hofstede, Namenwirth and Weber

S1 BCom – BCMIB01: Business Management Syllabus

BCMIB01 BUSINESS MANAGEMENT
Lecture Hours per week: 6, Credits-4
Internal – 20, External – 80, Examination 2.5 Hours
Objectives:
 To understand the process of business management and its functions.
 To familiarize the students with current management practices
 To understand the importance of ethics in business
 To acquire knowledge and capability to develop ethical practices for effective
management.
Module I
Concepts of Management – Characteristics of management – Schools of management thought – Management and administration – Management by objectives – Management by participation – Management by exception – Management by motivation – Functions of management – Planning– Organizing – Departmentation – Delegation (25 Hours, 20 marks)
Module II
Functions of Management:– Motivation: – concept and importance –
Contributions of McGregor, Maslow and Herzberg – Leadership – Concept and styles – Leadership traits – Communication – process and barriers – Control – concept – steps – tools – Coordination – Concept, Principles, Techniques. (20 Hours, 15 marks)
Module III
Business Ethics:– Ethics and Morality – Theories of ethics: Teleological theory – Deontological theory –Virtue theory – Types of ethics – Meaning and scope of business ethics – Characteristics – Objectives of Business Ethics – Factors influencing business ethics – Arguments for and against business ethics – Different views of business ethics – The Separatist View, The Unitarian View, The Integration View, Ethical issues in global business.
(20 Hours, 20 marks)
Module IV
Corporate Social Responsibility (CSR): Meaning and definition – History of CSR activities – Concept of Corporate citizenship – Need and importance of CSR – Stakeholders of CSR – Steps in the implementation of CSR activities – CSR and business ethics – CSR and corporate governance – CSR initiatives in India. (18 hours, 15 marks)
Module V
Emerging concepts in management – Kaizen – TQM – TPM – MIS – ISO – Change management – Stress management – Fish bone (ISHIKAWA) Diagram – Holacracy – Rank & Yank – 20% time – Gamification – Flexi-working – Business eco system – Logistic
management. (13 Hours, 10 marks)
Reference Books:

1. Boatwright. John R: Ethics and the Conduct of Business, Pearson Education, New Delhi.
2. Gupta. CB; Business management, Sultan Chand & sons
3. Koontz, H and Wechrick, H: Management, McGraw Hill Inc, New York.
4. Prasad. LM; Principles and Practicd of Management; Sultan Chand & sons
5. Stoner. AF and Freeman RE; Management; Prentice Hall of India
6. Drucker, Peter, F., Management: Tasks, Responsibilities and Practices, Allied Publishers, New Delhi.
7. R.S Davar; Management Process
8. Rustum & Davan, Principles and Practice of Management.
9. Srinivasan & Chunawalla, Management Principles and Practice.
10. S. V. S. Murthy. Essentials of Management.
11. Stoner, Freeman & Gilbert, Jr.: Management, Prentice Hall of India Private Limited, New Delhi.