4 Business Writing-V2

Course On Campus to Corporate: Business Writing _________________________________________________________________ UNIT- 4: BUSINESS WRITING Structure: 4.0 Learning Objectives 4.1 Introduction 4.2 Ethics in Communication 4.3 Importance or Significance of Ethics in the World of Business 4.4 Dilemmas inEthicalCommunication 4.5 Summary 4.6 Key Words/Abbreviations 4.7 LearningActivity 4.8 Unit End Questions 4.9 Reference Page 1 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing 4.0 Learning Objectives After studying this unit, you will be able to: ⚫ Learn ethical communication and how ethics is used in an organization. ⚫ Explain the advantages or importance of ethical communication. ⚫ Discuss the factors that affect organizational ethics. ⚫ Explain the dilemmas in ethical communication. 4.1 Introduction Business Ethics is a part of the philosophy of business. Business is buying and selling goods for a profit. Ethics are moral guidelines that govern good behaviour. To a shallow thinker, the term business ethics may appear contradictory but it is not so. Behaving ethically or morally is a part ofgood business practice that results in good business. 4.2 Ethics in Communication In the face of severe competitions and market pressures maintaining a high degree of ethics and corporate responsibility is difficult for employees. Therefore, modern organization has modes of ethics and responsibility. According to John Donaldson, Business ethics, in short can be described as the systematic study of moral matters pertaining to Page 2 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing business, industry or related activities, institutions, or practicesand beliefs. According to Keith Davis, ‘Ethics is a set of rules that define right and wrong conduct.’ “A business that makes money is a poor kind of business” said Henry Ford. Behaving ethically as one does business is good business. “Being good is good business” says Dame Roddick. Goodness is always rewarding in the longrun and ethical behaviour corresponds to human needs. Thus, one cannot overlook the factor of ethics in business. Page 3 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing 4.3 Importance or Significance of Ethics in the World of Business 1. Ethical behavior amounts to creation of goodwill and credibility with the public: When one of the cars of Tata sumo was reported to be faulty; Tata motors immediately recalledthe batch of car and made the appropriate checkups and changes and then released it to the customers. The trust and faith that the customers have shown by buying the company’s product should be consistently maintained and strengthened through ethical behavior on company’s part. 2.Ethical behavior with the employees builds a trustworthy and cordial atmosphere: Transparency in the recruitment process, fairness in giving increments, promotions, appreciation,rewards and other perks creates a work culture based on fairness and justice. 3.Ethical behavior leads to better decision making: When decisions are to be made on the basis of rules and regulations that are fair, without reporting to favoritism or corruption, the decision making process is quicker and smoother. 4.Ethical behaviour sustains customer’s loyalty and maximizes profit: Page 4 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing Customer satisfaction leads to continued patronizing of products. If a product is adulterated, one should give the faithful and honest details of efficiency of the product and its ingredients then the customers will never feel cheated because they precisely know what they are buying and its use. Exaggeration of the benefits of the product can lead to distrust among the customers. 5.Efficient utilization of business resources: In an organization, there is a tendency that juniors follow the seniors and so they also copy theethics. If the seniors follow ethical practices, then employees will follow the same. Ethical behaviour of employees will never lead to wastage of company resources whether- it is the raw material, energy, time or paper. The resources of the company will never be used for personal purpose thereby, increasing the efficiency level of resources. 6. Creates goodwill in the market: Reputation of the company is one of the prime assets of the organization. An organization, well-known for ethical behaviour/ practices, creates goodwill in the market with relation to customers, investors, as well as other shareholders. Employees too remain loyal to an organizationthat engages in ethical practices. 7. Helps promote high standards: Corporate governance is often defined as “business ethics”. Corporate often chart the code of ethics that has to be followed by the Page 5 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing associated shareholders in the company, the investors, employeesand management. They all are bound to follow the ethics of loyalty, thereby leading to higher standards of production and management. The following factors affect organizational ethics: 1. Corporate Culture: If the corporate culture/environment is such that the seniors and colleagues value ethical behavior, it will surely forge ethical practices at the work place. Workplaces where corruption andbribery is rampant, would make it difficult to even accept ethical behaviour. 2.Existence and application of a written code of ethics: If the corporate house has a written code and makes the employees follow the code strictly, then ethical behaviour at the workplace becomes a norm. At many workplaces, an unsaid code of ethics is also made known to the employees through ‘word-of-mouth’. Breach of the written code ofethics will lead to punishment. 3.Norms of accepted behavior: What is acceptable in one corporate culture may not be acceptable in another. These norms are usually through explicit or implicit means made known to the employees. 4.Rewarding system: Some corporate houses have a system that rewards their employees for ethical behaviour. The rewards may be in the form of oral or written appreciation, a trophy or bouquet of flowers or a Page 6 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing monetary package to appreciate the efforts of the employees. Page 7 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing 5. The corporate attitude towards employees: If the corporate house handles its employees with a humane attitude; it affects the overall workculture of the corporate house. 6.Hiring practices: If the recruitment process is based on merit and does not resort to favoritism, it creates an atmosphere that is positive which in turn gives importance to transparency in the administrative process. In such corporate culture, bribery and corruption cannot survive. Malpractices are easily detected and frowned upon. 7.Decision-making process of the company: A strict tyrant like, dictatorial kind of leaders creates resentment among the subordinate. A democratic form of administration is more suited to the creation of an atmosphere that forges ethical behaviour. 8.Behaviour and attitude of the leaders in the organization: Leaders in the organization should be the people of integrity who encourage their employees tofollow ethical practices. If the superior gives importance to ethical practices, the subordinates too would do the same. Personal integrity is the quality of being honest with yourself and others, and living a life that is aligned with your moral principles. Developing personal integrity, requires examining your beliefs and Page 8 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing value system, and taking conscious steps to behave in ways that are consistent with your personal moral code. Here are some ways to develop personal integrity: Steps: 1. Identify aspects of your behaviour that require change: Reflect on your interactions with others in the workplace, at home and in social situations to determine specific areas in need of improvement. For example, if you are late for work every day and feel guilty about creating excuses for this behaviour, this may be an opportunity to develop greater personal integrity. 2. Determine your reasons for not behaving with greater personal integrity: For example, you may be pushing unpleasant work tasks on to other employees instead of being honest with your boss about your inability to do the tasks. You may be afraid to admit to yourself or to your boss that you do not possess the right skills or that the job is not the right fit for you. 3. Face the obstacles that cause you to lie or violate your moral code: This might involve finding a more suitable job, facing your fears about how others may perceiveyou and/or seeking out counselling to address emotional challenges and insecurities. 4. Practice truthfulness: Page 9 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing Consider all of the relationships at home and work, that will benefit from greater truthfulness. For example, if managing a team of employees, be honest and direct with each individual about your expectations and employee performance. Avoid backbiting or gossiping. Refrain from causing harm. Part of developing personal integrity is gauging when and how to deliver the truth. Be careful; not to confuse truthfulness with anger-driven and brutally honest confrontation. 5. Make a list of tasks and behaviours in which you will become more trustworthy: The list might range from basic tasks, such as taking out the trash as promised to repaying largesums of money in a timely manner. 6. Respect the property of others: Consider any complaints you may have received in the past about using another person’s belongings, parking in someone else’s parking spot or littering on another person’s property. Make a concerted effort to respect other people’s belongings. 7. Listen to and respect the opinions and decisions of others: Part of possessing personal integrity is acknowledging the human rights of others. Respectingdiverse thoughts and decisions is a sign of open-mindedness and integrity. Page 10 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing 8. Help others in need: If you are in a position to contribute to the development of others or help them to do something they cannot accomplish on their own, make an effort to assist. 9.Assess your progress: Developing personal integrity is a trial and error process that requires persistent effort. Ask yourself on a daily or weekly basis if you are making progress. 10. Enlist the help of others: Colleagues, relatives and friends who know you well and have your best interest at heart, can assist your progress by providing objective feedback on a daily basis about the personal changes you are making. 4.4 Dilemmas in Ethical Communication When there is a problem in decision-making process between two possible options, where, boththe options are absolutely unacceptable when you talk from ethical point of view, is called an EthicalDilemma. We do face many ethical and moral problems in our day-to-day life. It is not easy to solve ethical dilemmas as its very challenging. In all the aspects of life like personal, social, professional every person goes through this ethical dilemma. Page 11 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing It is very difficult to give an obvious solution which will comply with ethical norms which is abiggest challenge of ethical dilemma. People have always faced it and philosophers have tried to find solutions to the problems. Some approach to solve an ethical dilemma is to analyze the situation carefully and logicallyprove it false. Even you can choose the option which gives you greater good and lesser evil. Also, new alternative solutions can be given. Ethical issues arise in Managers as they work in a smaller budget and they face difficulty in negotiating low-cost benefits. Manager is the point person between boards of directors and employees. Manager need to be very confident in handling the issues. The key information liability issues facing manager are software privacy, proprietary databases of individual rights to privacy. Managers should support ethical behaviour. Page 12 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing These dilemmas present interesting real-life cases that will test the reader’s ability to think critically and apply ethical and professional standards, to address issues or concerns the reader willface his/ her nursing practice. Whistle-Blowing – A leak is a kind of anonymous whistle-blowing. Some whistle-blowers are motivated by greed, jealousy and revenge. Companies try to know about corporate practices soon.In companies, there can be complaints, concerns and criticisms. These can be handled internally andrather than externally. The open door policy is the typical approach. Grievances are taken to supervisor or managers till they get satisfied with their issues. Open door policy is useful in many situations and they can affect in individual case. In short, sometimes blowing can be problematic. So, one has a plan how to properly channel employee dissent. Leaks – Employees leak information to the press for honourable and dishonourable reasons. Are leaks ethical? Yes, it is same as whistle- blowing. Using a leak is dubious in nature and should beundertaken in the rarest of circumstances. Lying – It is the least morally perplexing. A lie means people intend to deceive or hurt others. Lying breaks down trust between individuals, thus, hampering organizational effectiveness. Some people have the habit of saying lies. When an employee lies during crisis, the disaster Page 13 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing is never known, as it shakes the foundation of the company also. Ambiguity – It can be used for ethical and unethical purposes. Manager can fine employees for the best of company. Ambiguity is the quality of being open to more than one interpretation, inexactness. 4.5 Summary Ethics is a complex subject and its application is filled with many different arguments. A study of moral matters pertaining to business, industry or related activities, institutions, or practices and beliefs is called Business Ethics. If one has to find an approach to business ethics that is free from conceptual problems, one will probably not find any. Some attention to one’s profit motive and the moral interests of consumers will always lead to morally responsible business decisions. Examples of excellent ethical practices leading to good business are there in front of Indian corporate. The importance of business ethics is: it will lead to creation of goodwill and credibility with the public, employees will get a trustworthy and cordial atmosphere, better decision-making, sustains customer’s loyalty and maximizes profit, efficient utilization of business resources, creates goodwill in the market and helps promoting high standards. The factors which affect organizational ethics are corporate culture, existence and application of a written code of ethics, norms of accepted behaviour, rewarding system, and the corporate attitude towards employees, hiring practices, decision-making process of the Page 14 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing company and behaviour and attitude of the leaders in the organization. Personal integrity is the quality of being honest with yourself and others, and living a life that is aligned with your moral principles. We can develop personal integrity by identifying aspects of your behaviour that require change, determine your reasons for not behaving with greater personal integrity, face the obstacles that cause you to lie or violate your moral code, practice truthfulness, make a list of tasks and behaviours in which you will become more trustworthy, respect the property of others, listen to and respect the opinions and decisions of others, help others in need, assess your progress and enlist the help of others. 4.6 Key Words/Abbreviations • Ethics: The moral values that a person should possess. • Goodwill: The well-known status of a business. • Credibility: When someone trusts and believes in it. • Trustworthy: A person who can be relied as he is honest or truthful. • Hiring: Someone in a job for salary. • Personal Integrity: When a person’s honesty and truthfulness is checked. • Dilemma: It is a situation in which a complex decision has to be made between two ormore alternatives, which are equally unwanted. • Whistle-blowing: When a person discloses secret information that is illegitimate, immoralwithin a private or public organization. • Ambiguity: Confusing. Page 15 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing 4.7 Learning Activity 1. A debate and discussion on ethical questions like ‘Is Britain/the USA now a damagedglobal brand?’ Discuss. -------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------- 2. A Case study should be given to the students about telling the truth. -------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------- 4.8 Unit End Questions A. Descriptive Type Questions 1. What do you mean by business ethics? Explain its relevance to present times. 2. Define Business Ethics and explain the factors affecting organizational ethics. 3. Write a short note on the importance of ethics in the world of business. 4. What is meant by personal integrity? How can personal integrity make a difference at theworkplace? 5. Explain Ethical Dilemmas in detail. B. Multiple Choice Questions: 1. is a result of self-discipline, inner trust, and a decision to be relentlessly honest inall situations? Page 16 of 17 All Rights Reserved. Vol. TLE001/03-2022

Course On Campus to Corporate: Business Writing (a) Exercise (b) Integrity (c) Work 2. Ethics are ____ guidelines that govern good behaviour. (a) Moral (b) Profit (c) Social 3. Ethical leads to problem in decision-making process. (a) Dilemmas (b) Companies (c) Invasion 4. Corporate _ is where senior values ethical behaviour. (a) Violations (b) Culture (c) Social responsibility. Answers 2. (a) 3. (a) 4. (b) 1. (b) 4.9 Reference 1. https://corporatefinanceinstitute.com/resources/knowledge /other/ethical-dilemma/ Page 17 of 17 All Rights Reserved. Vol. TLE001/03-2022