EIB 20103

BUSINESS ETHICS (EIB 20103)  

PROFESOR SR DATO’ DR KAMARUDIN MOHD NOR, 

DSDK, AMK, PJK , BSc [Hons] HBP [Architecture] Universiti  Sains Malaysia; MSc [Construction Management] Heriot-Watt University, Edinburgh; Phd [Architecture] University of Wales, Cardiff ,FRISM,FRICS, MBEng. MCIArb.

What Is Business ?

:An economic activity.

:A transaction where an offer is made  by a seller and the offer is accepted by a buyer  for a consideration with the hidden agenda of a gain or profit .

What Is Ethics?

:The discipline dealing with what is good and bad.

:  A theory, system, or set of moral principles or values.

:  Ethics is beyond law. Ethics starts when the law stops.

:  The institute of global ethics defines ethics as : ‘Obedience To The Unenforceable.’

Business Ethics

The study of  business situations, activities,and decisions where issues of right and wrong is adress.

What Is Corporate Governance ?

 The process and structure by which business and affairs of corporate sector is directed and managed.

Objectives Of Corporate Governance ?

To build up an element of trust and confidence.

Enhance stakeholder's value.

Enhance corporate performance and accountability.

Why Ethics Is Important In Business?

*  Provide excellent service & retain customers.

*  Develop and maintain strong employee relations.

     - Suffer less turnover

*  To increase the lifetime of an organization.

*  To gain the goodwill of the community.

*  Produce safe and effective products.

*  Enjoy better employee morale.

Benefits Of Ethical Business 

1.  Maintains a moral cause in turbulent times.

2.  Cultivates strong teamwork and productivity.

3.  Supports employee growth and meaning.

4.  Helps to ensure that policies are legal.

5.  Helps to avoid criminal acts of “omission” and can lower fines.

6.  Helps to manage values associated with quality management and  

      strategic planning.

7.  Promotes a strong public image.

8.  Improves trust in relationships.

9.  Legitimizes managerial actions.

10. Strengthens the coherence and balance of the organisation’s culture.

11. Cultivates a greater sensitivity towards the impact of the 

        enterprise’s values and messages.

12.  Every significant management decision has an ethical value dimension.

13. There exists a clear vision and picture of integrity throughout the 

        organisation.

What is business? 

: Business is an economic activity, a transaction where an offer is made  by a seller and the offer is accepted by a buyer  for a consideration with the hidden agenda of a gain or profit .

How About Business Ethics ?

: The study of business situations,activities, and decisions where issues of right and wrong is adressed.

Why Ethics Is Important In Business?

  Provide excellent service & retain customer

  Develop and maintain strong employee relations.

    - Suffer less turnover.

  To increase the lifetime of an organization.

  To gain the goodwill of the community.

  Produce safe and effective products.

  Enjoy better employee morale.

Benefits Of Ethical Business 

1. Maintains a moral cause in turbulent times.

2. Cultivates strong teamwork and productivity.

3. Supports employee growth and meaning.

4. Helps to ensure that policies are legal.

5. Helps to avoid criminal acts of “omission” and can lower fines.

6. Helps to manage values associated with quality management and strategic planning

7. Promotes a strong public image.

8. Improves trust in relationships.

9. Legitimizes managerial actions.

10. Strengthens the coherence and balance of the

      organisation’s culture.

11. Cultivates a greater sensitivity towards the impact

      of the enterprise’s values and messages.

12. Every significant management decision has an

      ethical value dimension.

13. There exists a clear vision and picture of integrity

      throughout the organisation