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8/13/2019 Short Stor

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Short stories about Business

Ethic(Corporate Ethics)



Definition of Corporate Ethics• Business ethics (also corporate ethics) is a

form of applied ethics or professional ethics that examines ethical principles and moral or

ethical problems that arise in a business

environment. It applies to all aspects ofbusiness conduct and is relevant to the

conduct of individuals and entire

organizations.

http://en.wikipedia.org/wiki/Applied_ethics

http://en.wikipedia.org/wiki/Professional_ethics

http://en.wikipedia.org/wiki/Professional_ethics

http://en.wikipedia.org/wiki/Applied_ethics



Warren Buffet’s rule of thumb for

ethical conduct

• “…I want employees to ask themselves (whenthey are in doubt about whether a particularconduct is ethical or not) whether they are

willing to have any contemplated act appearthe next day on the front page of their localpaper – to be read by their spouses, childrenand friends – with the reporting done by an

informed and critical reporter.”

• *Berkshire Hathaway’s code of ethics+



1.Ford Motors Company

• An example is found in the Ford Motor Company in theearly 20th century. When Henry Ford couldn't sellenough of his cars, he decided to pay his factoryemployees more instead of less. From an individualism

standpoint, that would not have been his best businessmove.

• However, the factory laborers were now makingenough money to buy the cars they made, whichboosted sales and the company's profits increasedconsiderably. The sacrifice (increasing wages) thatbenefited the whole (factory workers) ultimatelyhelped the individual (Ford Motor Company).



2. Infosys Technologies Limited

• Mr. Narayana Murthy and his wife Sudha set upthe Infosys Foundation in 1997 which receives 1% of all the company’s after tax profits.

• Money is distributed according to the ratio of itsemployees in the four states where it has offices:Karnataka(70%), Maharashtra(15%), Orissa(5%)and Tamil Nadu(10%).

• Out of the allocated sum 30% go to the oldpeople, the destitute and the handicapped, 15%for rural development, 30% for education of

talented but poor children, 15% for culturalactivities and 10% for healthcare both in villageand cities.



3. Coca Cola India ( 4R Programme-Reduce, recycle, reuse and recharge)

•Coca Cola Company’s bottling plants in India , inPlachimada in south India was shut down for 20months because of community pressure and thecompany has rain water harvesting as one of its

core sustainability initiatives.• The projects include active community

involvement to remove the silt, rubble and algaeto rebuild the bawari’s traditional, sustainableinfrastructure.

• The company has worked to reconstruct a damand reclaim a water storage area that had beenuseless by slit in Andhra Pradesh.



4. Hindustan Unilever Limited

• HUL initiatives through its Lifebuoy brand

during unprecedented floods in Mumbai.

• Lifebuoy Chetna is an HUL initiative in rural

Health and Hygiene, Launched in 2002

covered more than 17,000 villages across the

country.

• The company termed the programme as “a

marketing programme with social benef its”.



5. Lupin Laboratories Limited

• Lupin Human Welfare and Research

Foundation(LHWRF) for the Rural development,the foundation now touches more than 1919villages in 11 districts in Rajasthan, MadhyaPradesh, Maharashtra and Uttar Pradesh.

• In Bharatpur district of Rajasthan alone LHWRFhas put 125 schools, provided drinking water for80 villages and helped 25,000 villagers cross the

poverty line.• Lupin is visible as parallel government in the area

of Bharatpur.



6. ONGC• ONGC has initiated projects like “ PURA-

Providing Urban Amenities in Rural Areas.• PURA Involves four activities:

1. Physical-road, transportations and power

2. Electronic-reliable telecom, internet and ITservices.

3. Knowledge-good education and traininginstitutions and

4. Economic-enable farmers to get the price fortheir products.



7. Reliance Industries Limited (RIL)

• They have active participation in pulse polio,Revised National Tuberculosis controlProgramme(RNTCP), National Immunization

Programme and Maternal and child Health.• The company runs “ Reliance Kargil Scholarship

Scheme” instituted with the contribution fromthe reliance employees to support the

educational needs of the children of defensepersonnel who sacrificed their lives or weredisabled during Kargil war.



8. Corporation Bank•

The Bank has setup libraries in 25 villages in thestate of Karnataka, Tamil Nadu and AndhraPradesh.

• On its Centenary celebration project, the bank

dedicated a modern library and NumismaticMuseum to the citizen of Mangalore at the costof 2.31 crore.

• Corporation Bank Economic DevelopmentFoundation undertake projects like clean drinkingwater, healthcare, malaria eradicationprogramme, provisions of classrooms ingovernment schools, study room for orphans .



9. Bausch & Lomb

• Bausch & Lomb has associated itself with the

Delhi Traffic Police by organizing an eye-

screening camp for commercial vehicle

drivers.

• The Delhi Traffic Police personnel also

underwent tests for good vision.



10. Hindustan Petroleum corporation

Limited(HPCL)

• Projects undertaken include:

1. Suraksha

2. Swablamban

3. Unnati4. Nanhi Kali

5. Vikas

6. Navjyot

7. Muskan

8. Naya Netritwa



• Extra



2011 WORLD’S MOST ETHICAL

COMPANIES

Business Services

• Accenture

• Dun & Bradstreet

•

Noblis

Construction and Engineering

• CRH

• Granite Construction

•

Parsons Corporation

Chemicals

•

Ecolab• JM Huber

Business Services Accenture

• Dun & Bradstreet

• Noblis




COMPANIES

Computer Software

• Adobe Systems

• Microsoft

• Salesforce.com

• Symantec Corporation

• Teradata Corporation

Energy and Utilities

• Encana

• Statoil

• NextEra Energy, Inc.

• Northumbrian Water

• Vestas Wind

• Wisconsin Energy

Corporation




COMPANIES

Industrial Manufacturing

• Caterpillar

• Deere & Company

• Eaton Corporation

• Milliken & Company

• Schneider Electric

Specialty Retail

• Best Buy Co.

• Hennes & Mauritz

• Sonae

• Target

• Ten Thousand Villages




COMPANIES

Telecom Hardware

• Avaya Inc.

• Cisco Systems

• Juniper Networks

Telecom Services

• Singapore Telecom

• Swisscom

• T-Mobile USA

Real Estate• British Land plc

• Jones Lang LaSalle

• Unibail-Rodamco

Forestry, Paper and

Packaging

• International Paper

• Stora Enso Oyj

• SCA

http://ethisphere.com/past-wme-honorees/wme2011/



• R. H. Tawney, theBritish historian, oncewrote: ''To argue, inthe manner ofMachiavelli, that thereis one rule forbusiness and anotherfor private life, is toopen the door to anorgy ofunscrupulousnessbefore which the mindrecoils.''



• Truett Cathy,

founder of Chick-fil-

A, argues there is

no such thing asbusiness ethics -only ethics



• Set your expectations

high; find men and

women whose integrity

and values you respect;get their agreement on

a course of action; and

give them your ultimate

trust. - John FellowsAkers, Chairman of IBM



• I am sure that in

estimating every man’s

value either in private

or public life, a pureintegrity is the quality

we take first into

calculation, and that

learning and talents areonly the second.-

Thomas Jefferson



• In looking for people to

hire, you look for three

qualities: integrity,

intelligence, and energy.And if they don't have

the first, the other two

will kill you.-- Warren

Buffet



• ”Rules cannot

substitute for

character." — Alan

Greenspan, Chairman of

the U.S. Federal Reserve

Board



• There are seven sins inthe world: Wealthwithout work, Pleasurewithout conscience,

Knowledge withoutcharacter, Commercewithout morality,Science withouthumanity, Worship

without sacrifice andpolitics withoutprinciple. - MahatmaGandhi (1869 - 1948)



Bodo B. Schlegelmilch and Diana G. Robertson

“The Influence of Country and Industry on Ethical

Perceptions of Senior Executives in the U.S. and Europe

• Cultural Differences• Given the country and industry differences found, from a

managerial perspective, it appears to be a mistake to expect allcorporate ethics policies to look alike. Careful thought should begiven to tailoring the policy to the particular firm, industry, and

country. Large multinational firms operating in a number ofcountries need to consider the general applicability of a code ofethics or ethics training that was developed in the country in whichthe firm’s headquarters is located. If ethical concerns differ bycountry, then imposing a set of standards developed for onecountry on another country may be counterproductive. Similarly,

expatriates working for multinational firms need to be aware thattheir own perception of ethical issues may not match that of theirnative fellow employees.”

Joseph T Wells



Joseph T.Wells

“Protect Small Business”

• Fraud

• According to the Association of Certified FraudExaminers’ (ACFE)

• “2002 Report to the Nation on OccupationalFraud and Abuse,” the

• per-employee losses from fraud in the smallestbusinesses are 100 times

• the amount of their largest counterparts.

• PRACTICE NOTE

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