bfbm(9-2016) business ethics & business value
TRANSCRIPT
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Business Ethics
ResponsibilityTrust
Behavior
Principle
RelationshipChoice
Reliability
Morality
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3 E
Economical Responsibility
EthicalResponsibility
EcologicalResponsibility
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Business Ethics and Social ResponsibilityBusiness Ethics:The principles and standards that define acceptable conduct in business
Social Responsibility:A business’s obligation to maximize its positive impact and minimize its
negative impact on society
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Ethical Issue Categories1. Conflict of interest
2. Fairness and honesty
3. Communications
4. Business relationships
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Three Factors That Influence Business Ethics
Individual Standards and Values
Managers’ and Coworkers’ Influence
Opportunity: Codes and
Compliance Requirements
Ethical/Unethical Choices in Business
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Factors Influencing Managerial Ethics
Values Work
Background Family Status Personality
Individual Top Level
Management Philosophy
The Firm’s Reward System
JOB Dimensions
Organizational
Competition Economic
Conditions Social / Cultural
Institutions
Environmental
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The Pyramid Of Social Responsibility
Voluntary ResponsibilityBeing a “good
corporate citizen.” contributing to the
community and quality of life
Ethical ResponsibilitiesBeing ethical; doing what is right, just,
and fair, avoiding harm
Legal ResponsibilitiesObeying the law (society’s codification
of right and wrong)
Economic ResponsibilitiesBeing profitable
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Philanthropic Responsibilities
Ethical Responsibilities
Legal Responsibilities
Economic Responsibilities
Be A Good Corporate Citizen
Be Ethical
Obey The Law
Be Profitable
Contribute Resources To The Community; Improve Quality Of Life.
Obligation To Do What Is Right, Just And Fair. Avoid Harm.
Law Is Society’s Codification Of Right And Wrong. Play By The Rules Of The Game.
The Foundation On Which All Other Rest.
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Ethics In Workplace
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Work Ethics Is An Invisible Employee Behavior, Noticeable By Its Absence.
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In The Work Place The Senior Management Have A Responsibility To Set An Example That Reflect The Company
Expectations.
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Ethics is Two – way!
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Employees, having strong ethics in personal
and professional life, need no explanation,
unlike those employees for whom work ethics is
a growing problem.
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By The Time Employees Hit The Workforce, Can They
Be Taught Things Like Ethics – Or Is It Too Late?
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Training On Workplace Ethics Is Imperative.
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Ethics Help A Lot In Effective Productivity As Well As A Great Balance
Of Responsibilities In Your Life On Personal &
Professional Front.
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Good Behavior Should Be Acknowledged.
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Clearly, Consistently, And Frequently Communicate The Desired Behaviors And Why They Are Important To The
Organization. Model These Behaviors As A Leader
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Ethics Depends On Situation.In Spite Of Training Sessions On
Ethics, Enforcement Is Ultimately Left To The Individual.
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And Finally, It Is Essential To Communicate Ethical Values To Employees As
You Are Giving Them The Authority To Take
Appropriate Ethical Decision In Any Given
Situations.
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Ethics Is Knowing The Difference Between What You Have A Right To Do And What Is Right To Do.Potter Stewart
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Integration View of Ethics
Government
Market Systems
Law
Society
Business Ethics
Business Morality & Ethics
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Forces That Shape Business Ethics
Is the Decision or
Behavior Ethically and
Socially Responsible?
Personal Ethics
Beliefs and ValuesMoral DevelopmentEthical Framework
Organizational Culture
FounderHistoryDefining Moments
Organizational Systems
StructurePolicies and RulesCode of EthicsReward SystemSelection and Training
External Stakeholders
Government RegulationsCustomers/ClientsSpecial Interest GroupsMarket Forces
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7 Principles of Admirable Business Ethics1. Be Trustful2. Keep An Open Mind3. Meet Obligations4. Have Obligations5. Become Community Involved6. Maintain Accounting Control7. Be Respectful
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Building Ethical Safeguard Into CompanyHow to control unethical issues or conduct in organization or promote ethical behaviour:1. Top Management Commitment and Involvement2. Ethics Policies or Codes3. Ethics Officers, or Compliance Officer4. Ethics Audit5. Whistle Blowing Policies6. Corporate Ethics Awards
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Highly Effective PeopleYour Character and Personality Ethic
Your Personality
Your Character
Positive Mental Thinking People Skills Win-Win Mindset
Beliefs & Values Effective Living The Golden Rule
YOUR PERSONALITYYour secondary greatness
YOUR CHARACTERYour primary greatness
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Business
Values
Integrity Effort Partnerships Passion
HonestyObjectivityAccountability
PerformanceFocusResults
ResponsivenessCollaborationSupport
AmbitionInspirationCreativity
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PeopleStaff with Specialized Experience
PlatformsFlexible BusinessArchitecture
ProcessesAdaptable SupportingTechnology
Business Value
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How to build a BUSINESS FOR VALUE
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So what drivesVALUE
in a business?
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There Are Eight Key Drivers To
Your Company’s
Value:
1. Financial Performance
2. Growth Potential
3. The Structure
4. Valuation See-Saw
5. Recurring Revenue
6. Monopoly Control
7. Customer Satisfaction
8. Hub & Spoke
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Growth
Start Up
Adolescence
MaturitySuccessio
n & Decline
Life Cycle of a Business
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Growth Adolescence Maturity Succession & Decline
Structure Management Style Culture Profit/Cash
Focus Challenges Risks
Life Cycle of a Business
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Growth
Start Up
Adolescence
MaturitySuccession & Decline
Lifecycle
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Maturity- The Company We Dreamed Of!Where owners can step away for a period of time and the company will perform as well or better than if they were there!
MaturityClear Vision and Strategy
Empowered Teams
SOPs
Key Metrics
Growth
Start Up
Adolescence
Maturity
Succession &
Decline
Lifecycle
$
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Building Value in Your Business
Become a Different Kind of Leader
Develop a Winning Team
Develop A Standard Production System
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PhilosophyStrategySystems
Processes – ProceduresTools
Metrics
Peop
lePeople
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Philosophy
Strategy
Systems
Processes - ProceduresTools
Metrics
Right People Right Seat Cost Based Estimating Sales Drives the Business Systems Based (SOP’s) Keep
Score
Vision Based Strategic Plans drive all operational decisions and charts course for business
Good System produce predictable outcomes. Sales, Product Delivery, Administration
Good System are composed of (SOP’s) that allow ordinary people to perform at extraordinary levels
Pro-Build Est. Template, MPSS Maintenance Est., Enhancement Est. Labor Tracking
Facilitate systems and processes, collect and track
data, create reports
KPIs for Sales, Production, Financial, Customer Sat, Safely
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Right People/ Right Seat
General Manager
Account M
gr
SalesDesig
n
Operations
Accounting Admin
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GOOD PEOPLE
Your Company’s Greatest Asset
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The value of value! Maximizing the value of your business!!!
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“How Do I Create Value In My Business?” Focus on the long-term value of institutionalizing your
organization and creating contractual or tribal
relationships with customers and staff.
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Individualized business = me style = weak strategy = low value Institutionalized business = we style = strong strategy = high value
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Four contracts:
1. Physical
2. Emotional
3. Intellectual
4. Spiritual
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BUSINESS ETHICSAssociation
Books
Self Concept
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Making the shift requires hard work, management transparency and commitment to creating true long term value!
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Thank You