Question 5 OR (i) part ii
Values and ethics (short note)
5 marks
- Time to write
- About 10 minutes
From an older CBCS paper
Question
Question 5 OR (i) part ii · 5 marksWrite short notes on any three:
- Values and Ethics
Reworded from the university paper; the task is the same. The original paper belongs to the University of Delhi. See DU's question bank.
Before you write
Read off the question and its marks
Read from the question
- any threeThe paper asks for any 3, and this is one of them. Only 3 are marked: a fourth earns nothing.
- short notesA note opens with the meaning, then two or three key points. No long introduction.
Write it in this order
- Read; underline the asks; jot your points 1 min
- 1 Meaning of values and ethics 1½ marks 2 min
- 2 Values a manager should practise 1 mark 2 min
- 3 Building ethics into an organisation 1½ marks 2 min
- 4 Why it matters, with an example 1 mark 2 min
- Check: every ask answered, key terms underlined 1 min
Easy marks
- Step 1 opens with the meaning: a one-line definition, the quickest mark in it.
Short on time? Trim steps 1 and 3 evenly rather than skip one: each is capped at its own marks. End with step 4 in a line or two.
Try it first. About 10 minutes for 5 marks. Write it out, then open the solution.
Solution
Hover or tap a marked figure, like 72,000, to see how it is made and where else it appears.
Ethics means following moral principles and behaving as people ought to behave, which goes beyond merely obeying laws and government rules; ethical conduct in this sense is guided by particular values. Business ethics applies this to business: it is the set of moral principles, shaped by society, that should govern business activity. Charging customers a fair price, using honest weights and treating workers fairly are everyday examples.
Values a manager should practise
A few universal virtues make a person ethical in life and at work:
- Fairness in every dealing.
- Trustworthiness.
- Care for the well-being of others.
- Respect for others.
- Good citizenship, shown through civic virtues and duties.
- Owning responsibility for one's actions.
Building ethics into an organisation
An enterprise fosters ethical conduct through a few basic elements:
- Involving employees at all levels, so that ethics becomes everyone's concern and not a notice on the wall.
- Publishing a code of conduct covering honesty, product safety and quality, workplace health and safety, conflicts of interest, fair selling and accurate financial reporting.
- Measuring results, by auditing compliance with the standards even though the outcome of an ethics programme is hard to measure exactly.
- Commitment of top management, which has to give the lead in developing and upholding the organisation's values.
- Compliance mechanisms, such as weighing values when recruiting, stressing ethics in training and regular audits.
Ethical behaviour improves a firm's public image, wins people's trust and leads to greater success; in the long run ethics and profit go together. A Surat textile trader known for honest measures and prompt payment to weavers keeps both customers and suppliers loyal for years, while a rival who cuts corners gains for a season and then loses both.
Where the 5 marks sit
| # | Component | Marks |
|---|---|---|
| 1 | Meaning of values and ethics | 1.5 |
| 2 | Values a manager should practise | 1 |
| 3 | Building ethics into an organisation | 1.5 |
| 4 | Why it matters, with an example | 1 |
| Total | 5 |
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