Session -10-12

Session-10,11,12

10 Nov,2021 & 12 Nov,2021 & 16 Nov,2021

The session was about the ethics guiding the business. Business ethics means that the organization should indulge in a moral business and the policies and practices of the organization should be fair for all the stakeholders. We understood why ethical business is important From a very small example of how shop owners have to check the expiry date of the products they keep in their shop and if their product is expired they should not indulge in unfair trade activities for their own benefit but instead should discard the products and behave ethically.

There are 3 ethical theories-

• UTILITARIAN THEORY- Plans and actions should be evaluated by their consequences.
• THEORY BASED ON RIGHTS- In a lot of companies Human Resource management is active as they know there are some laws and rights provided by govt which should be followed.
• THEORY OF JUSTICE- there should be no discrimination and partiality

Through a case of a fire incident in a garment factory, we discussed how it is the responsibility of the manufacturers to ensure proper working conditions for the workers in their factory. Afterwards, we had a really interactive session to further our understanding of business ethics by discussing some cases and how should we as employers should act in them. We watched an insightful video related to a recent case of Facebook and whistleblowing. Whistleblowing means making known to outside agencies unethical company practices. It was primarily based on how Facebook is indulging in immoral practices and how it is affecting society. We also studied the scandal done by Volkswagen in which it exposes monkeys to engine fumes to test the effects of diesel exhaust and the ethical dilemma resulting from the same as well as its consequences to the company.