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Moral values and ethics.


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Moral values and ethics.

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  2. 2. Topic:“MORAL VALUES AND ETHICS”.Presented by, Wisal Ahmad (112). Iftikhar Hussain.(116) Asad Ali. (134) Ilyas Wazir. (114) 2
  3. 3. Business Ethics: What Does ItReally Mean? Definitions Ethics involves a discipline that examines good or bad practices within the context of a moral duty Business ethics include practices and behaviors that are good or bad 3
  4. 4. Three Key Branches of EthicsDescriptive ethics involvesdescribing, characterizing andstudying morality “What is”Normative ethics involves supplyingand justifying moral systems “What should be” 4
  5. 5. Applied ethics about “how” moraloutcomes can be achieved in specificsituations; 5
  6. 6. Moral Values.Moral values are the standards ofgood and evil, which govern anindividual’s behavior and choices. ORValues are the criteria for determininggood and bad, fair and unfair, justand unjust. 6
  7. 7. Types of “Values”.Universal Values: It has the same value orworth for all, or almost all people.Eg, Sanctity of human life, Peace, and humandignity.Instrumental Values: These are valuesthat can be used to get something else.Examples of these would include Progress (whichallows leisure time), Freedom (Through which wecan get dignity and/or self actualization), andKnowledge (which helps us to get economicprosperity, and progress). 7
  8. 8. Intrinsic Values: ( opposite to instrumental value) Something has intrinsicworth simply because of what it is, and notnecessarily what it will lead to.For example ,beauty, artistic expression andhappiness. We value them because they are animportant aspect of life.Prerequisite Values: These are values that arenecessary before you can get to some bigger goal.Examples of this type of value include safety(which is needed before people can even thinkabout having anything else), Justice (which isneeded before we can move onto equality), or thecommon good (which must be honored if we can 8ever get to a state of peace).
  9. 9. Paramount Values: It is the value which isabove all other things.For example, freedom (which many people havegiven up their lives for and see as essential to adecent life).Operative Values: These types of values arethe ways that we make judgments on how to livethe rest of our lives. We use these values as theoverarching and guiding principles which tell uswhat is always right and wrong.For example, Integrity, Honesty, and Loyalty. 9
  10. 10. Other many sources of Values. Regions of Fellow Workers Fellow Workers Country Family Profession The Individual Conscience Friends Employer The Law Religious Society at Large Beliefs 10
  11. 11. Sources of Moral Values.Here we discuss the following; Religion. Science. Culture. Law. 11
  12. 12. ReligionReligion is the greatest source ofvalues.Religion also teaches us how tobehave and acts as a unconsciouspolicing action.For example, Sikhism religionteachesthat they should cover their headbefore praying to whom theyworship and not eating meat. 12
  13. 13. ScienceAn another source of values.Actually science’s main objective is toprove certain facts, phenomenon’s andother things right or wrong.For example, it is scientifically proven thatworking yourself too hard can lead tohealth problems. Thus, science helps usrealize that there are better ways to liveand thrive in our environment. 13
  14. 14. CultureCulture refers to a set of values, rules& standards transmitted amonggenerations & acted upon to producebehaviors that fall within acceptablelimits. These rules & standardsalways play an important part indetermining values.For example, its good to give place toelder one. 14
  15. 15. LawLaws are rules of conduct, approvedby legislatures that guide humanbehavior in any society. They codifyethical expectations & keep changingwhen new evils emerge. But lawscannot cover all ethical expectationsof society.For example, law forbids snatching. 15
  16. 16. IMPORTANCE OF VALUES Personal valuesEvery one knows that life is precious – thatlife is important. We all protect our lifebecause we care for it more than anythingelse. If life is so important, the values of lifeare even more important. Values are guidingprinciples, or standards of behavior which areregarded desirable, important and held inhigh esteem by a particular society in which16 a
  17. 17. PERSONAL VALUES(cont’d) Character ModelingOur values are a reflection of our spirituality; our character. They are what we hope to model for our children and the children around us, because children do watch us as they develop their own sense of right and wrong. Regarding personal character, Father of Indian Nation M.K Ghandi says……….. 17
  18. 18. Character Modeling(cont’d) If wealth is lost, nothing is lost" If health is lost, something is lost" If character is lost, everything is lost" est of all things is character. Remember the “CHINESE PROVERB”. “If there is righteousness in the heart, there will 18be beauty in character, if there is beauty in
  19. 19. OTHER PERSONAL VALUESARE… Honesty Respectfulness Bravery Courage Affection towards humanity Patience Truthfulness Beauty Responsibility Justice …..etc 19
  20. 20. SIGNIFICANCE OF VALUES FROM BUSINESS PERSPECTIVE A value is a belief, a mission, or a philosophy that is really meaningful to the business.An example of a business value is: "Customer Satisfaction.“ Thus a business value is the company’s criteria for achieving a high level of performance.For example, Merck, the pharmaceutical company became so successful in its field because the company was so dedicated to the value of "high quality and purity of its drug products". Because of this perceived value, distributors felt secure carrying Merck products, and felt confident recommending the products to their customers. 20
  21. 21. Good reputation of the business leads to higher value.Reputation and good word of mouthadvertising is essential to businesssurvival in todays wretched economicclimate and no business can afford toignore an unhappy customer. Unhappycustomers have the ability to besmirchyour good reputation in a matter ofhours. 21
  22. 22. All businesses consider some value based on which the businesses are conducted Businesses include transactions, dealings,exchanges etc. to explain lets take the example ofexchange. Exchange means “giving something and receiving something”. CONDITIONS FOR EXCHANGE: >>>> 22
  23. 23. VALUE’s IMPORTANCE (cont’d) here are 4 conditions for exchange.here must be two parties to exchangesomething.. They must be willing to exchange.. Capable of exchanging something.hat thing must be worth exchangeable. 23
  24. 24. f there’s no consideration of value OR if no value istaken into account, there will be no exchange andthus cannot be called business. So in businessesvalue is worth mentionable.he same case applies to making purchases, sellinginventories etc.ome other business values are…… 24
  25. 25. ONTINUOUS IMPROVEMENT The desire and ability of the company to developand incorporate ways to improve itself.USTOMER DELIGHT The positive emotional response and joy that thecustomer feels from interaction with the companyspeople and products and services.EVELOPING PEOPLE The desire and ability of the company to improvethe lot of the employees working for it.NNOVATION The desire and ability of the company to venture 25
  26. 26. AXIMUM UTILIZATION (OF RESOURCES) The desire andability of the company to improve its performance by fullutilization of its current resources.OMMITMENT TO SOCIETY The commitment of thecompany to focus on the social needs and aspirations ofthe society. 26
  27. 27. Any Question……… 27
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