Application of VALUES & ETHICS in

Business
Organization



Individual

A Comprehensive Study



Values( set of preferences) are said
to be the cause and Ethics effect.If
one operates in a given instance
from a Value emotion within the
outward action will tend to be
Ethical.
Values & Ethics

ETHICS
Oxford Advanced Learners Dictionary
defines the word ethics as moral principle
that govern or influence a persons
behavior. Ethics is thus a benchmark of
human behavior. The conduct of human
beings is influenced either by the emotions
of life or the actions people perform in
different situations. The coordination of
action and emotions generates ethics.
Ethics in Organizations
Key Terms Used


Ethics,Ethical,Unethical,Corporate
Values',' Personal values', Value
statement', 'Ethical Framework of a
company etc.
Value Statement of ITC
ITC's Core Values are aimed at developing a

customer-focused, high-performance organization
which creates value for all its stakeholders:

Trusteeship
As professional managers, we are conscious that ITC
has been given to us in "trust" by all our
stakeholders. We will actualize stakeholder value and
interest on a long term sustainable basis.
Customer Focus
We are always customer focused and will deliver what
the customer needs in terms of value, quality and
satisfaction.
(Contd)
Respect For People
We are result oriented, setting high performance standards for
ourselves as individuals and teams.
We will simultaneously respect and value people and uphold
humanness and human dignity.
We acknowledge that every individual brings different
perspectives and capabilities to the team and that a strong
team is founded on a variety of perspectives.

We want individuals to dream, value differences, create and
experiment in pursuit of opportunities and achieve leadership
through teamwork.
Excellence
We do what is right, do it well and win. We will strive for
excellence in whatever we do.
Innovation
We will constantly pursue newer and better processes, products,
services and management practices.
Nation Orientation
We are aware of our responsibility to generate economic value
for the Nation. In pursuit of our goals, we will make no
compromise in complying with applicable laws and regulations
at all levels
TATA Steel:
The Tata Group has always sought to be a
value-driven organisation. These values
continue to direct the Group's growth and
businesses. The five core Tata values
underpinning the way we do business are:

Integrity
Understanding
Excellence
Unity
Responsibility
SAIL (Steel Authority of India):


To be a respected world Class
Corporation and the leader in
Indian steel business in
quality, productivity, profitability
and customer satisfaction
Maruti Udyog:
We believe our core values drive us in every
endeavor:

Customer obsession;
fast,
flexible and first mover;
innovation & creativity;
networking & partnership;
openness & learning.

ONGC:
To be a world-class Oil and Gas Company

integrated in energy business with dominant
Indian leadership and global presence.

World Class

Integrated in Energy Business

Dominant Indian Leadership
WIPRO:
The Spirit of Wipro is the core of Wipro the
Spirit is rooted in current reality, but it also
represents what Wipro aspires to be thus
making it future active.
The Spirit is an indivisible synthesis of all
three statements.

Manifesting intensity to win,
Acting with sensitivity and
being unyielding on integrity all the
time.





Reliance Industries:
Reliance believes that any business conduct can be
ethical only when it rests on the nine core values of

Honesty,
Integrity,
Respect,
Fairness,
Purposefulness,
Trust,
Responsibility,
Citizenship and
Caring.
Growth is care for
good health
Growth is care for
safety
Growth is care for
the environment
Growth is
conservation
Growth is betting on
our people
Growth is thinking
beyond business
INFOSYS TECHNOLOGIES:
To be a globally
respected corporation
that provides best-of-
breed business
solutions, leveraging
technology, delivered by
best-in-class people.
To achieve our
objectives in an
environment of fairness,
honesty, and courtesy
towards our clients,
employees, vendors and
society at large

Values
Customer Delight:
Leadership by
Example:
Integrity and
Transparency:
Fairness:
Pursuit of
Excellence:
NTPC:
A world class
integrated power major,
powering Indias
growth, with increasing
global presence

Develop and provide
reliable power, related
products and services at
competitive prices,
integrating multiple
energy sources with
innovative and eco
friendly technologies
and contribute to
society"
Our Core Values
(BCOMIT)
Business Ethics
Customer Focus
Organizational &
professional Pride
Mutual Respect and
Trust
Innovation and
Speed
Total Quality for
Excellence
Malaysian Airlines :
Shukur(gratefulness),Amanah(trustworthiness),I
khlas (sincerity), Displin (discipline)

Canon:
To foster good relations with
customers and communities.
Also to maintain good relation with
nations and environment
Bear responsibility for the impact of
their activities on society
Johnson & Johnson
High quality and prompt service at
reasonable price with a view to
making fair profit.
To respect individuality of employees
keeping in mind their job security and
means of fulfilling family
responsibility.
Informal communication
Just and ethical action
Encourage community service
Ford Motor Company


Doing right thing for the
customer,people,environment and
society
Providing superior returns to our
shareholders
The customer is job 1
IBM

Respect for individual

IBM anthem

Devotion to customers

Lifetime employment

Open door program.
NIKE :Nike follows three mission statements to pursue the
goal. Climate mission statement. Community mission
statement and Considered mission statement. Nike
salvaged its image through such measures.

Climate mission statement :
Climate change is no longer What if but What
now? It is real and it is impacting the
environment, the marketplace, and our supply
chain. We see greater constraints on natural
resources. More importantly, we see and agree
with the growing need to take immediate
action.
Community mission statement :
Unleashing potential through sport. In the last
two years, Nike invested $100 million worldwide
in community-based sports initiatives. By 2011,
we expect to invest another $315 million. These
investments will be used to give excluded youth
around the world the chance to play because as
access to sport can enhance their lives.
Well provide Nike product, resurface playing
fields, support community-based programs, and
help young people create their own communities.
This is all part of our Let Me Play commitment.
Considered mission statement :
We see sustainability as a source of innovation. A
way to inspire new thinking and deliver tangible
results.
Nike has recently taken up a project to start an
N.G.O.
Concepts behind those
statements

Respect
Integrity
Excellence
Social Performance
Just & Ethical action
Activate self-
esteem
Trusteeship

Concern for people
Refinery song
Human values
Purposefulness
Caring
Mutual respect &
trust
Openness &
learning
Credibility

CSR
CSR has been defined in several ways.
A good definition refers to a
company's commitment to operating
in an economically, socially and
environmentally sustainable manner,
while recognizing the interests of its
stakeholders, including investors,
customers, employees, business
partners, local communities, the
environment and society at large.
Ethics matters because it makes good business
sense to "do the right thing".

Additionally good corporate ethics results in:

Attracting better talent
Retaining employees
Attracting new customers
Retaining customers
A Positive effect on ROI
Positive effect on
Corporate Reputation




Competitive Strategy and CSR

Research has shown that consumers give
preference to companies that adopt CSR
practices. According to the 2002 Edelmen
Strategy Of Survey of Opinion Leaders,
76% would switch to a company with
strong CSR practices, if price and quality
are equal to non-CSR competitors. In the
same survey, 75% surveyed reported they
would give a CSR company the benefit of
the doubt if the company were subjected
to negative publicity.
Individual Value System &
Conflict
Ethics Through Unethicalty:
It is unethicalty when one entity


intentionally tries to gain at the expense
of another, or just to cause loss to
another without any gain ,while the other
entity is unaware of such intention or is
powerless to defend itself against it.
Educating the Organization & the
Individual



Code of Conduct,
Cognitive Ethics,
Consciousness Ethics
Vivekananda,Gandhi,Gita,Peter
Drucker
Universal Ethical Principle For the
salvation of the Individual & the
welfare of the Society
Think poorest of the poor
Lok sangraha Individual I dissolves
in Universal I
Conflict Resolution of Arjun
Managing Oneself