JAIPUR NATIONAL UNIVERSITY, JAIPUR School of Distance Education & Learning Internal Assignment No. 1 Master of Business Administration / PGDM Paper Code: MBA-110 Paper Title: Indian Ethos & Management Last date of submission: Max. Marks: 15 Note : Question No. 1 is of short answer type and is compulsory for all the students. It carries 5 Marks. (Word limits 50-100) Q.1 Answer all the questions: (I) Discuss the nature of Business ethics. Ans. Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Business ethics has both normative and descriptive dimensions. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range and quantity of business ethical issues reflects the interaction of profit-maximizing behavior with non- economic concerns. (II) What is the relationship between ethics morals and values? Ans. Differences between morals and values are:-
Morals are generally taught by the society to the individual whereas values come from within. Morals act as a motivation for leading a good life while values can be called as an intuition. Morals are related to ones religion, business or politics whereas values are personal fundamental beliefs or principles. Morals are deep seated whereas values keep on changing with time and needs. (III) What is corporate social responsibility? Why is it important for business to act in a socially responsible manner? Ans. CSR is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered stakeholders.. Social responsibility involves everything from protecting and maintaining the environment, to contributing to what is in the best interest of society. It includes conforming to the social morality and ideology the society has adapted. (IV) Explain total Quality Management. Ans. Total quality management (TQM) consists of organization-wide efforts to install and make permanent a climate in which an organization continuously improves its ability to deliver high-quality products and services to customers. While there is no widely agreed- upon approach, TQM efforts typically draw heavily on the previously developed tools and techniques of quality control . TQM enjoyed widespread attention during the late 1980s and early 1990s before being overshadowed by ISO 9000 , Lean manufacturing , and Six Sigma .