This document discusses various concepts related to business ethics and corporate governance including virtue, virtue ethics, ethical dilemmas, ethical gaps, ethical leadership, whistleblowing, and trade secrets. It defines virtue as a positive trait that is morally excellent and valued. It explains that virtue ethics focuses on an individual's character rather than external laws. It also defines ethical dilemmas, gaps, and leadership providing qualities and principles of ethical leaders. It describes whistleblowers as people who report illegal or unethical activities and discusses internal and external whistleblowing. Finally, it defines trade secrets as confidential business information and how they are protected.
This document discusses various concepts related to business ethics and corporate governance including virtue, virtue ethics, ethical dilemmas, ethical gaps, ethical leadership, whistleblowing, and trade secrets. It defines virtue as a positive trait that is morally excellent and valued. It explains that virtue ethics focuses on an individual's character rather than external laws. It also defines ethical dilemmas, gaps, and leadership providing qualities and principles of ethical leaders. It describes whistleblowers as people who report illegal or unethical activities and discusses internal and external whistleblowing. Finally, it defines trade secrets as confidential business information and how they are protected.
This document discusses various concepts related to business ethics and corporate governance including virtue, virtue ethics, ethical dilemmas, ethical gaps, ethical leadership, whistleblowing, and trade secrets. It defines virtue as a positive trait that is morally excellent and valued. It explains that virtue ethics focuses on an individual's character rather than external laws. It also defines ethical dilemmas, gaps, and leadership providing qualities and principles of ethical leaders. It describes whistleblowers as people who report illegal or unethical activities and discusses internal and external whistleblowing. Finally, it defines trade secrets as confidential business information and how they are protected.
UNIT - II UNIT - II VIRTUE A virtue is a positive trait or quality subjectively deemed to be morally excellent and it is valued as a foundation of principle and good moral being. A virtue is a trait of character that leads to good behavior, for example, wisdom, courage, modesty, generosity, and self- control. Virtue Ethics Virtue Ethics describes the character of moral agent as a driving force for ethical behavior. The general concept behind Virtue Ethics is that it focuses on what the individual should choose for his / her own personal inward behavior (character) rather than the individual relying solely on the external laws and customs of the persons culture, and if a persons character is good then so ought the persons choices and actions be good. Ethical Dilemma An ethical dilemma is a moral situation in which a choice has to be made between two equally likely alternatives. Dilemma may arise out of various sources of behavior or attitude i.e.., it may arise out of the failure of personal character, conflict of personal values and organizational goals, organizational goals versus social values etc. Ethical dilemmas involve problem solving situations in which decision rules are often vague or in conflict. 2 Ethical Gap It is an approachable distance from wrong towards the right. Most people know right from wrong; however, when it comes to business, sometimes compromising those values can become a real temptation. This gap is present in any situation, especially business. Its involved in how we work with customers, colleagues, staff and even family ethically. The real challenge is to diminish the size of the gap rather than hope to eradicate it altogether. Ethical Leadership Ethical leadership is leadership that is involved in leading in a manner that respects the rights and dignity of others. As leaders are by nature in a position of social power, focuses on how they use social power in the decisions, actions engage in and ways they influence others. Leaders who are ethical demonstrate a level of integrity for stimulating a sense of leader trustworthiness. Objectives of Ethical leadership Integrate principles of leadership and principles of ethics Enhance the capabilities of leaders to recognize and act according to their ethical beliefs Provide a forum to discuss how to build and maintain an ethical society
3 Qualities of Ethical Leadership Integrity - the integration of outward actions and inner values Honest dealings - predictable reactions, well-controlled emotions Dedication - spending whatever time or energy is necessary to accomplish the task Magnanimity - giving credit where it is due Openness - listen to new ideas and others ideas, accept new ways of doing things Creativity - the ability to think differently Fairness - dealing with others consistently and justly Assertiveness - is the ability to clearly state what one expects so that there will be no misunderstanding A sense of humor - vital to relieve tension and boredom to energize followers
4 Principles of Ethical Leadership Respect others - Ethical leader should have mental molding to respect others. Serve others - Ethical leader is a person who is willing to serve others Shows Justice - must be always fair, justice, logical, equality, unbiased, follows moral philosophy, attitudes, and democratic principles in decision making. Manifests Honesty - sincere, truthfulness, integrity, frank and always be open to subordinates and others. Build community - Ethical leader is a person who is capable to influence others, acts as a moral leader, motives creative thinking, co-ordinates the efforts to critical success. 5 Whistle Blowing
A whistle blower is a person who tells the public or someone in authority about alleged (suspected) dishonest or illegal activities (misconduct) occurring in a government department, a public or private organization, or a company. The alleged misconduct may be a violation of a law, rule, regulation or a direct threat to public interest, such as fraud, health/safety violations, and corruption. Types of whistle blowing 1. Internal whistle blowing When an individual advocates beliefs or revelations (disclosing) within the organization 2. External whistle blowing When an individual advocates beliefs or revelations outside the organization. 6 Characteristics of a whistle blower unselfishly motivated Utilitarian Uninterested in altering their behavior Allows own attitudes and beliefs to guide them Often are well educated and holds professional positions
Effects of whistle blowing Forced to leave organization/demotion Credibility ruined Family, health, or life in jeopardy (threat) Physical or psychological isolation 7 Trade secrets A trade secret is a formula , practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers. It includes sales methods, distribution methods, consumer profiles, and advertising strategies etc. Trade secret protection First step - identity potential trade secrets thought trade secret audit Second step - take measures to protect them Uses of Trade Secrets Protect valuable technical information Protect ideas that offer a business a competitive advantage They keep competitors from learning that a product or service is under development and from discovering its functional or technical attributes Protect valuable business information such as market plans, cost and price information and customer lists They protect any other information that has some value and is not generally known by competitors
The Effect of Training and Job Satisfaction On Employee Engagement and Performance of Millennial Generation Employees of PT Midi Utama Indonesia TBK in Makassar
International Journal of Innovative Science and Research Technology