unit-3 cg

8/12/2019 Unit-3 CG

http://slidepdf.com/reader/full/unit-3-cg 1/7

Unit-3

Capitalism(Free Market Economy) Is a form of economic system in which major portion of production & distribution is in private hands.

•Phases of Capitalism

– Mercantile (Mutual interest b/w state & commercial interests)

– Industrial (Promotion of large scale industries) – After the civil war ,there was industrialexpansion in areas of finance,marketing.technology etc.

– Financial(pool, trust,holding companies)

– State Welfare (Govt. playing imp role in regulating economic activities)

Features of Capitalism•Companies – This is the basic characteristic of capitalism.Capitalism permits creation of

companies of business organization that exist separately from people associated with them.

•Profit Motive – Profit is the lifeblood of the capitalist system.•Competition-

•Private Property

•CapitalCapitalism & Condition of Society

Arguments in favor of capitalism-

– Right to Property

– Brings a free & unstrained market which is more efficient & productive .

– Allows people to pursue activities of their own

Arguments in Against

Inequality

•Human Nature•Competition

– Breeds Oligopolies

– Govt. corporate welfare programmes protect many businesses from true marketplace

competition – Neither beneficial nor desirable

•Negatively related with Performance•Does not result in optimum utilization of resources•Exploitation & Alienation

Ethics in Marketing

•Adulteration•Spur ious Products

8/12/2019 Unit-3 CG


•False Measures

•Sale of Duplicates

•Hoarding and Black Marketing•Tie in Sales

•In genuine Sales Promotion Techniques

•Misleading Advertising•Sale of Sub Standard Goods

Ethical issues in Finance •Insider Training

•Financial Services

– Deception

– Churning – Suitability

•Financial Markets

– Efficiency

– Unfairness in Markets•Fraud and Manipulation

•Unequal Information

•Unequal Bargaining Power•Efficient Pricing

Ethics in HRM

•Discrimination

•Whistle Blowing

•Occupational Health Care

•Suitable Working Time•Appropriate Salary

•Recognition of Work Life Issues•Commitment to Improvement

•Formation of Quality of Work Life Teams

•Training to Facilitators

•Conduct Focus Group•Analyze Information from Focus Group

•Identify and implement Improvement opportunities

•Reward and Recognition

•Provide Growth Opportunities

•Respect and Boosting Self Esteem•Provide Vision

•Mutual Commitment•Provide good working Environment

•Empowerment

•Hiring The Right People•Work/Life Balance

•Out of the Way Help

8/12/2019 Unit-3 CG


Benefits of Ethics in HRM

Helps in Employee Recruitment and Selection

•Reduce Absenteeism•Improve the Quality of People’s Working Lives•Matching People who would’nt otherwise work with job.

•Benefiting families and communities

Ethics in IT

Privacy

•Property•Accuracy

•Accessibility

Ethics in Intellectual Property Rights•Copy Rights

•Protect expression of ideas. This gives an author exclusive rights to make copies of the

expression & sell them to public.•Copy right act 1957 & copy right

– Copyrightable work

•Recording of sound•Cinematograph Films

•Pictorial ,Graphic and Sculptural works

•Dramatic works

•Literacy works (Books and other writings, Musical compositions, paintings, Computer programmes

•Musical Works & Accompanying Lyrics etc

– Patents – Trademark

Ethical issues of Intellectual Property•Using of Writing or Property of someone else without permission

•Misuse of software

•Making and using pirated softwares and hacked accounts

•Secret distribution of information to others

Ethical practices in IPR should ensure

•The legal laws should catch people engaged in unethical IPR activities.

•People should develop moral values and avoid using unethical means to IPR•Legal laws and moral values complement to each other .Laws should work when moral values

fail and moral values should work when laws fail.

•Information in the public domain should be equally accessible to all irrespective of social,cultural, and political differences.

8/12/2019 Unit-3 CG


•A person whose data has been misused or lost should have the right to claim compensation for

damage.

•Adequate security measures should be provided against unauthorized access, alteration ordestruction of personal data.

•People should honor intellectual property rights and not copy any property without taking

permission from the owner.•People should respect the privacy of others and not make unauthorized use of their data.•People should prefer licensed software rather than pirated software

•People should not tamper with computer hardware

•People should not send annoying messages to others and cause the syste m to crash by anymeans.

Ethical Theories

•Moral Reasoning – Theory of value or theory of good

– Theory of the right

•Moral Theories – Consequentiality or Teleological Theories

– Rightness/wrongness of action is always determined by its tendency to produce certain

consequences which are intrinsically good or bad.

– Non Consequentialist or non teleological/deontology theories

Features of Teleological Theories

•Gives priority to what is good over what is right.•All actions that contribute to good are moral actions.

•Results or consequences determine the rightness or wrongness of moral action.

Forms of Consequentialism(Consequential Theories)•Theory of Ethical Egoism

•Utilitarianism

–Bentham’s approach to utilitarianism•Limitations of the approach

– All actions are not followed by pleasures.

– He more or less talks of quantitative pleasures –Mill’s approach

•Pleasures differ in quantity as well as quality

•Morality is internal and not external

Deontological Theories

•Act Deontology

•Rule Deontology

8/12/2019 Unit-3 CG


unit-3 cg

Documents