Skill Development at its Best Business Ethics BBA

Skill Development at it’s Best Lectures 123 Administration Introduction of Instructor Course Introduction Few Words on Articles & Additional Readings Suggestions and criticism about previous semesters • Suggestion for future course of action • Business Ethics Overview • Subject Website as Online Resource Center (www. themirs. org) • • Copyright 2020@MIRS

Skill Development at it’s Best Introduction - Farhan Mir Assistant Professor (IMS, BZU) MS (Monash, Australia) Ph. D (Management) Candidate (UMT, Lahore) Lead Consultant Trainer (MIRS) Major Responsibilities at IMS Program Coordinator (MBA 2. 5 Non-Business) Student Advisor (Evening) Patron Executive Forum Member of Almost All Committees - Admission - Examination - Disciplinary - Scholarship Copyright 2020@MIRS

Skill Development at it’s Best Introduction – Farhan Mir • Projects – – – • • Mumkinkar (Social Responsibility Group) SAI (Sports Awareness Initiative) Blood Donor Society Book Bank CBC MIRS Training Interests – Personality Development – Soft Skills (Team Skills, Presentation Skills, Motivation, Emotional Intelligence and Hygiene) – Sports Skills (Sports Training – Golf, Sportsmanship & Champion’s Attitude) Sports (Cricket, Squash, Golf) - 1000+ Wins in Competitive Matches - Organizing experience at multiple levels and in multiple sports Copyright 2020@MIRS

Skill Development at it’s Best Instructors Introduction - The Story of MIRS Website: www. themirs. org Our Events: www. themirs. org/events/ Products: www. themirs. org/product/ Facebook Page: www. facebook. com/themirs. org You. Tube Channel: https: //www. youtube. com/channel /UCi. S 6 O 1 Kr 0 Frsrtwsx. Isgsr. A Copyright 2020@MIRS

Skill Development at it’s Best Instructors Introduction - MIRS Graduate Studies Skills – Scenario and Activity based training sessions in close interaction settings Active Discussion GSES Work Attitude Critical Evaluation Scenario Building Context Judgment & Development Precise and Relevant yet Complete (PRC) Copyright 2020@MIRS

Skill Development at it’s Best Sports Awareness Session (SAS) Learning Life Lessons Through Golf

Skill Development at it’s Best My Introduction: Contact Information § Best through e-mail address farhanmir@bzu. edu. pk OR In case of submission of assignment through email farhanazmatmir@gmail. com § After/before lectures on lecture day OR § Announced Timings in case of Assignments or Reports § Social Media § Facebook: https: //www. facebook. com/farhan. mir. 351 § Linked. In: https: //www. linkedin. com/in/farhan-azmat-mir-4 a 05 b 766/ Copyright 2020@MIRS

Skill Development at it’s Best My Introduction: Interests Sports Social & Cultural Change History

Skill Development at it’s Best Instructors Introduction - Favorite Quotes • "Champions aren't made in gyms. Champions are made from something they have deep inside them: A desire, a dream, a vision. They have to have last-minute stamina, they have to be a little faster, they have to have the skill and the will. But the will must be stronger than the skill. " - Muhammad Ali Copyright 2020@MIRS

Skill Development at it’s Best Course Administration & Requirements Copyright 2020@MIRS

Skill Development at it’s Best Course Administration • Exams and Assessment – Basically 2

Skill Development at it’s Best Examination • I personally believe in “thorough studies” so usually no choices given in the exam • Every thing discussed, during the class or given as reading material, could be part of the exams • Questions will be formulated in a way to examine both bookish as well as conceptual thinking • Other details will be given close to Mid • I will try to follow my simple rule that is – “ I’ll be very friendly in the lectures and very strict in the exam hall (believe me no chance of misconduct…)” Copyright 2020@MIRS

Skill Development at it’s Best Lecture Notes • Available from Photostat shop before lectures or preferably one day before the start of new week • Usually the lecture material will cover the topics of one week • Lecture Notes also now available online on the given website address http: //themirs. org/business-admin-courses/be • Lecture Notes will not be in detail format rather these will contain topics of discussion and important announcements regarding assessments. • Most Importantly Lecture Notes are just a supporting material and students must not forget to read books for detail and complete understanding Copyright 2020@MIRS

Skill Development at it’s Best Important Resources – BE Online Resource Center Copyright 2020@MIRS

Skill Development at it’s Best Course Administration • Sessionals – Written assignments (Small Tasks) (details in coming lectures) • Critiques on Articles (a one page summary on an article related to the discussion topic and trends in Training and Development – – • Idea is to initiate research oriented writing not “cut-copy-paste” Attendance, Presentations, Quiz & Class Discussion & Participation (as a regular activity) Volunteer presentations (you must not be that familiar with this kind of stuff but you need to respond to it quickly!) Sessional’s loot sale Formal Presentations in groups and preferably case study presentations linking contents to an organization (local) Copyright 2020@MIRS

Skill Development at it’s Best How to get more marks? • Requirements – Overall Class Attitude – Things to Avoid (Referencing, Cut-Copy-Paste Culture, Carelessness, leg-pulling) – Things to do (Innovation, Confidence, Work Attitude) – Sense of Maturity and continuous learning Copyright 2020@MIRS

Skill Development at it’s Best One of the Major Sessional • Case Study Presentation – Students in groups of 7 -8 will choose one of the course nominated case studies and develop a presentation for discussion – Eventually will present their findings in the shape of a Presentation in front of the class or classes on Multimedia – Students need to submit both Hard (Printed) and Soft copies (Computer files) of the Case itself and that of the Power. Point Presentation – This is day 1 so you can start working now! – I will myself present at least one Case Study well before the presentation schedule so that you people have an idea Copyright 2020@MIRS

Skill Development at it’s Best Course Orientation • Basically Theoretical focus & Practical as well Introduction of Concepts and Issues regarding Business Ethics (This subject is developed in case study mode: it means that there are lot of case studies) • But – The practical orientation will also be a major focus of the course (this will include practical demonstration on multimedia) – Lecture notes will include more graphical explanation of things to give more practical orientation about concepts & applications especially the latest trends – Formal Presentation from Students will also work in this regard – Video or Audio Presentation will also be part of the lectures Copyright 2020@MIRS

Skill Development at it’s Best Text and References • Focus will be on topics rather Chapters of any text • Text/books are available in market O. C. Ferrell, Jhon Fraedrich, and Linda Ferrell (10 th Edition). Business Ethics: Ethical Decision Making and Cases But • Not necessarily every thing is taught from the Text, Students need to broaden their view and consult as many additional references as possible (Preferably available in local market and from the Internet) • This time few simple yet important cases will be discussed during the lectures • – Case Studies are now a definite part of the curriculum Copyright 2020@MIRS

Skill Development at it’s Best Course Outline • Part One – Introduction to Ethics – Importance and Contribution to Organizations – Stakeholder Relationships and Corporate Social Responsibility • Part Two – Ethical Issues and Dilemmas – Institutionalization of Ethics • Part Three – Ethics and Decision Making – Having an Ethical Organizational Culture • Part Four – Implementing Ethics – Ethical Programs – Auditing and Monitoring Ethics – Global Operations and Ethics Copyright 2020@MIRS

Skill Development at it’s Best Learning not Teaching Miscellaneous (Regularity, Consultancy, Support etc) Competency & Skills Guidelines for me as an Instructor True Knowledge not stories Class Environment Neutral Assessment (Objective) Updated Teaching Methodology Copyright 2020@MIRS

Skill Development at it’s Best What is Ethics Copyright 2020@MIRS

Skill Development at it’s Best Copyright 2020@MIRS

Skill Development at it’s Best What and Why of Ethics? Copyright 2020@MIRS

Skill Development at it’s Best What is Ethics? - Some other Facets Copyright 2020@MIRS

Skill Development at it’s Best Why Study Business Ethics? • Business decisions under great scrutiny – Global financial crisis created diminished stakeholder trust • Deals with questions about whether practices are acceptable • No universally-accepted approach for resolving issues Source: © Jack Hollingsworth/Corbis Copyright 2020@MIRS

Skill Development at it’s Best Video by Shefali Roy TEDx - Oxbridge https: //www.

Skill Development at it’s Best Why Study Business Ethics? • Reports of unethical behavior are on the rise • Society’s evaluation of right or wrong affects its ability to achieve its business goals • Studying business ethics is a response to Sarbanes. Oxley, FSGO, and stakeholder demands for ethics initiatives • Individual ethics alone is not sufficient • Studying business ethics helps identify ethical issues to key stakeholders Copyright 2020@MIRS

Skill Development at it’s Best A Useful Reading for Thought https: //www. investopedia. com/ask/answers/040815/why-arebusiness-ethics-important.

Skill Development at it’s Best Asking Key Questions The following questions can be asked when a problematic decision or action is experienced or perceived before it becomes an ethical dilemma: • – What are my core values and beliefs? – – What are the core values and beliefs of my organization? Whose values, beliefs, and interests may be at risk in this decision? Why? Who will be harmed or helped by my decision or by the decision of my organization? How will my own and my organization’s core values and beliefs be affected or changed by this decision? – – – How will I and my organization be affected by the decision? It all comes to Courage! 35 Copyright 2020@MIRS

Skill Development at it’s Best Business Ethics • Comprises principles, values, and standards that guide behavior in the world of business • Principles: Specific boundaries for behavior that are universal and absolute – Freedom of speech, civil liberties • Values: Used to develop socially enforced norms – Integrity, accountability, trust Copyright 2020@MIRS

Skill Development at it’s Best Importance of Ethics – How Finance and Accounting People See it Now? But is it for them only? Video on importance of Ethics for ACCA professionals https: //www. youtube. com/watch? v=F 7 Btfx. Jyp. M Copyright 2020@MIRS

Skill Development at it’s Best Just a glimpse to How Ethics? Stages Of Moral Development Kohlberg’s 3 levels of moral development: • Level 1: Preconventional level (self-orientation) – • • – Level 2: Conventional level (others orientation) • • – Stage 1: Punishment Stage 2: Reward seeking Stage 3: Good person Stage 4: Law and order Level 3: Postconventional level (universal, humankind orientation) • • Stage 5: Social contact Stage 6: Universal ethical principles 39 Copyright 2020@MIRS

Skill Development at it’s Best Americans’ Trust in Business (% of respondents who say

Skill Development at it’s Best A Crisis in Business Ethics • Consumer trust of businesses is declining • No sector is exempt from ethical misconduct • Stakeholders determine what is ethical/unethical – Investors – Employees – Customers – Interest groups – Legal system – Community Source: Stockbyte Copyright 2020@MIRS

Skill Development at it’s Best So How we see Ethics? Five Myths About Business Ethics • A myth is “a belief given uncritical acceptance by the members of a group, especially in support of existing or traditional practices and institutions. ” – Myth 1: Ethics is a personal, individual affair, not a public or debatable matter – – – Myth 2: Business and ethics do not mix Myth 3: Ethics in business is relative Myth 4: Good business means good ethics – Myth 5: Information and computing are amoral 42 Copyright 2020@MIRS

Skill Development at it’s Best How Ethics has evolved? A Timeline of Ethical and

Skill Development at it’s Best Before 1960: Ethics in Business • Theological discussions of ethics emerged – Catholic social ethics included a concern for morality in business, workers’ rights and living wages – Protestants developed ethics courses in their seminaries and schools of theology • The Protestant work ethic encouraged hard work Copyright 2020@MIRS

Skill Development at it’s Best The 1960 s: The Rise of Social Issues in Business • Societal social consciousness emerged – Anti-business sentiment rose • JFK’s Consumer Bill of Rights- A new era of consumerism – Right to safety, to be informed, to choose, to be heard • Consumer protection groups fought for consumer protection legislation – Ralph Nader Source: Hisham Ibrahim and Copyright 2020@MIRS

Skill Development at it’s Best The 1970 s: Business Ethics as an Emerging Field • Business professors began to write about social responsibility – An organization’s obligation to maximize positive impact and minimize negative impact on stakeholders • Philosophers became involved • Businesses became concerned with public image • Conferences were held and centers developed • Issues: – Bribery – Product safety – Deceptive advertising – Environment – Price collusion Copyright 2020@MIRS

Skill Development at it’s Best The 1980 s: Consolidation • Membership in business ethics organizations increased • Ethics centers provided: – Publications, courses, conferences and seminars • Firms established ethics committees – Ethical Support Mechanism Emerged • Defense Industry Initiative on Business Ethics and Conduct (DII) emerged – Foundation for the Federal Sentencing Guidelines for Organizations • Corporate support for ethics Copyright 2020@MIRS

Skill Development at it’s Best The 1990 s: Institutionalization of Business Ethics • The Federal Sentencing Guidelines for Organizations (FSGO) – Set tone for compliance • Preventative actions against misconduct – A company could avoid/minimize potential penalties Copyright 2020@MIRS

Skill Development at it’s Best The Federal Sentencing Guidelines for Organizations • Standards and procedures capable of detecting and preventing misconduct • High level oversight • Effective communication (training) • Systems to monitor, audit, and report misconduct • Consistent enforcement • Continuous improvement Copyright 2020@MIRS

Skill Development at it’s Best The 21 st Century: A New Focus • Continued issues with corporate non-compliance – Growing public/political demand for improved ethical standards • Sarbanes-Oxley Act (2002) – Most extensive ethics reform – Increased accounting regulations • FSGO reform (2004) – Requires governing authorities to be well-informed regarding business ethics programs • Firm’s greatest danger is not discovering misconduct early • Basic assumptions of capitalism being debated – Fears in the wake of global recession and financial meltdown Copyright 2020@MIRS

Skill Development at it’s Best Organizational and Global Ethical Culture • Ethical culture describes the component of corporate culture that captures the values and norms that an organization defines as appropriate conduct • Creates shared values • Goal is to: • Minimize need for enforced compliance • Maximize utilization of principles/ ethical reasoning Source: Triangle Images Copyright 2020@MIRS

Skill Development at it’s Best Prevalence of Misconduct by Industry Copyright 2020@MIRS

Skill Development at it’s Best Ethical Dilemmas – What we are faced with at Workplace? Video on Ethical Dilemma 1 – Bob and Adams as Friends and Colleagues https: //www. youtube. com/watch? v=F 7 Btfx. Jyp. M Copyright 2020@MIRS

Skill Development at it’s Best Ethical Dilemmas – Interesting Examples Video on Ethical Dilemma in the modern firm – Shutterbug https: //www. youtube. com/watch? v=rv. Ptq. Dew. G 6 Q Copyright 2020@MIRS

Skill Development at it’s Best Ethics Contributes to Employee Commitment • Comes from employees who believe their future is tied to the organization’s • Are willing to make personal sacrifices for the organization – The more dedication on the part of the company, the greater the employee dedication – Concerns include a safe work environment, competitive salaries and benefit packages, and fulfillment of contractual obligations Copyright 2020@MIRS

Skill Development at it’s Best Ethics Contributes to Investor Loyalty • Companies perceived by their employees as having a high level of honesty and integrity are more profitable than companies with a low level of honesty and integrity • Ethical climates in organizations provide platform for: – Efficiency – Productivity – Profitability Copyright 2020@MIRS

Skill Development at it’s Best Ethics Contributes to Customer Satisfaction • Consumers respond positively to socially concerned businesses – Being good can be extremely profitable • Customer satisfaction dictates business success • A strong organizational ethical climate places customers’ interests first • Research shows a strong relationship between ethical behavior and customer satisfaction Copyright 2020@MIRS

Skill Development at it’s Best Ethics Contributes to Profits • Corporate concern for ethical conduct is being integrated with strategic planning – Maximize profitability • Corporate citizenship is positively associated with: – Return on investment and assets – Sales growth • Studies have found a positive relationship between citizenship and performance Source: Photo. Link Copyright 2020@MIRS

Skill Development at it’s Best So How we start practicing Ethics? – Isn’t this the case with almost everyone of us? Video on Courage as a key factor in creating an ethical organizational culture https: //www. youtube. com/watch? v=wzic. Xbnmllc Copyright 2020@MIRS