Business ethics is a specialized branch of ethics focusing on how moral standards apply to business organizations and behaviour As such, it cannot be understood separately from the general ideas of ethics, and the general ethical theories apply to business ethics as well. Normative ethical theory offers different moral theories, each prescribing a set of moral rules that individuals can apply in the process of deciding whether an action is morally right or wrong in various situations. Research on the role of ethical theories in business usually focuses on the application of ethical guidelines in human resources practices, corporate social responsibility policies and the assessment of managers’ ethical evaluations. This course is designed to provide the students with an overview of concept of business ethics and its application in decision making process in the day to day business decision making. Students will also be able to realize the importance of ethical decision making in a business organisation and its contribution towards the society.
Understanding of the concept of business ethics and its role in modern management. Students will be able to analyse various ethical theories and the application of the same in business decisions. This course will enable the readers to identify, analyse and resolve ethical issues that arise in various business domains such as finance, marketing, human resource management and general management practices. Concepts such as corporate social responsibility and corporate governance will be discussed and an interlinkage among the concept of business ethics, corporate social responsibility and corporate governance is presented as a part of this course. The role of ethical decision making in effective business practices will be examined and analysed in detail.
KEY LEARNING POINTS:
The student will be able to:
1. Understand ethical concepts and theories related to ethics. Branches of ethics and its application to business firm.
2. Understand the interlinkage between management theories and ethical theories
3. Analyse the steps involved in ethical decision making by managers in a business concern and resolving ethical dilemmas.
4. Understand role of ethics in various disciplines like HR, Marketing, Finance and IT
5. Understand the role of ethics in CSR activities of a business concern
6. Understand the link between ethics and corporate governance.
7. Understand the concept of sustainability in a business concern and learn how ethics is an important construct for a sustainable business concern
- Teacher: Dr. Madhuri Malhotra