Professional Documents
Culture Documents
An Overview
• Ethics is derived from Latin word 'ethicus' and
greek word 'ethikos' meaning character or
manners.
• Ethics is moral principle and recognized rules of
conduct.
• Business ethics refers to application of ethical
judgements to business activites.
Ethical theories
Metaethics
It is the study of the origin and meaning of ethical
concepts. It deals with:
Metaphysical issues that deal with the question
whether the moral values exist independently of
humans.
Psychological issues that deal with the
psychological basis of the moral action.
Linguistic issues that deal with the meaning of the
key moral terms used.Ex: Mist means manure in
german.
Normative Ethics.
Applied Ethics
Applied ethics is a branch of ethics that deals with
specific controversial issues.
Ex: misleading ad, insider trading, influence.
Product- Cigarettes.
Price- higher price for products high in demand.
Place- marketer stopping distribution in
unprofitable area.
Promotion- Giving information.
CRM- Privacy of information.
Corporate Governance
It is a system by which business corporations are
directed and controlled.
The corporate governance structure specifies the
distribution of rights and responsibilities among
different participants in the corporation and spells
out the rules and procedures for making decisions
on corporate affairs.
Elect
BOD(Supervise)þ Shareholders(owners)þ
Appoints& Supervises
Officers
Manages Company
German model
Supervisory board
Japanese Model
Shareholders
Supervisory board incld
President
Banks
Ratifies
Consults
president
decision
President Company
Indian model:
Lessons to Learn
Fiscal Policy
Meaning
Fiscal policy is a policy under which the
government uses its expenditure and revenue
programmes to produce desirable effects on
national income, production and employment.
Policy of government pertaining to public
revenue, public expenditure and public debt.
VAT
VAT is a multi-stage tax, levied only on value
that is added at each stage in the cycle of
production of goods and services with the provision
of a set-off for the tax paid at earlier stages in the
cycle/chain.
VAT
Advantages of VAT
Coverage
Revenue Security- atleast at one stage tax is
collected.
Selectivity- only selected items.
Disadvantages of VAT
Billing.
Lack of uniformity.- different states.
Number of taxes imposed by the Govt.
Lack of infrastructure facilities.
Dealing in variety of goods.- classification.
Mod vat
Input includes:-
» Inputs which are manufactured and used within
the factory of production in or in relation to the
manufacture of the final product.
» Paints and packing material
» Inputs used as fuel
» Inputs used for the generation of electricity, used
within the factory of production for manufacturing
of final products or for any other purpose.
Service Tax
Introduced in 1994-95.
Case For:
Applying priniple of neutrality-equality
between goods and service.
Raising revenues for govt.
Taxing luxuries-large portion of service is in
sphere of luxury.
Widespread phenomenon- developing and
printing photographs.