google-site-verification: googlef7e1c73b24f6d597.html managementinforstudents: 2022

Thursday, December 15, 2022

Financial Services.

 

Assignment 1

 

1.     Write about Financial intermediaries in Financial System- Merchant Bankers, underwriters, depositors, Brokers, Sub brokers, and a bankers.

2.      Write the Structure of the Financial system- financial institutions, markets, financial instruments, and financial services.

 

Assignment 2

1.     Role of stock Exchanges in economic development. BSE, NSE, OTCEI- Functions.

2.     Write a Difference between Money Market & Capital Market.

3.     What is Mutual Funds. Explain Types, Advantages, and Disadvantages.

4.      What are the factors affecting investment in mutual funds. Mutual fund.

Project on Employee Recruitment & Record Management

Project on Employee Recruitment & Record Management

Study any software related to Human resource and make its analysis. It should include

·        Introduction

·        Functions

·        Application

Example: HRMS Business Value, HCM cloud application, Employees engagement, Human Resources Cloud, Powerhouse emerging technologies, including AI, chatbots, blockchain, and the Internet of Things (IoT).

Make a ppt of all the above points and give hard copy in a word file.

 


Human Resource Management Functions& Practices

 

Subject Name: - Human Resource Management Functions& Practices

Assignment 1

Q1. What is Performance Appraisal? Explain its Purpose, Approaches, Process, Methods-Traditional and Modern Methods.

Q2. What is Training? What is the Purpose, and Importance, Process, Methods E-Training?

Q3. Explain the Workers Participation in Management

Assignment 2

1.     Write HRM Practices

2.     What are the determinants of Employee Compensation

3.     Write organizational Development process power politics and ethics

projects for Financial Services B 406

 Project Guidelines for Students

Students can search for information after learning through a demo. Students will prepare project report based on data collected (Online or off-line).

They will have to prepare requirement sheets of various industries and will analyze computer-enabled activities. The students will study various difficulties faced and identify probable solutions for the same.

Practical - Course Details (Students can prepare the project individually or in a group and can (select any) five topics from the list.

 Computers in Banking and Financial Institutes

 Concept of Core Banking Details , standalone system and new integrated system

 Basics of Banking Software , Web server technology , Standards for Core Banking Software

 General Guidelines for using software, Cloud Security

 Online banking , internet banking UPI payments and Payment gateways , Security aspects for the same.

 Demo on free online banking software by using Projects

 For Example - Collect information There are three core banking software/systems used by different banks in India;

For Example -

 Finacle by Infosys.

 BaNCS by TCS.

 Flexcube by Oracle.

 Blockchain . ...

 Artificial Intelligence. ...

 Mobile Banking. ...

 Customer Relationship Management (CRM) ...

 Cyber security.

    Artificial Intelligence. ...

 Mobile Banking. ...

 Customer Relationship Management (CRM) ...

 Cyber security.

 IT report of Banking technologies on - Future of Banking: Fintech firms and big tech how the information is captured capturing value chain, providing services such as payments, checking etc.

 IT in the banking sector - Technologies include Artificial Intelligence (AI), big data, robotic process automation (RPA), The Controller of Certifying Authorities, Institute for Development and Research in Banking Technology (IDRBT)

 Certification Authority (CA) for digital signatures. Process of registration authorities (RA) negotiated dealing system (NDS), the electronic  clearing service (ECS), and electronic funds transfer (EFT)

 Customer-to-customer one-click payments, the consumer-to-business effortless digital banking system, password-free biometrics, new crypto currency crypto currency opportunities, location administrations, and offers, and conversational Interface

Digital Marketing

 

Assignment 1

1.     Create a blog, post article, do SEO.

2.     Create a Facebook business page of your own or any other business. Put advertisement. Show analytics of the same

 

Assignment 2

 

1.     Create YouTube channel. Create videos, video contents which can create more views, and more subscriber.

2.     Create a Display Campaign of any brand

Advertising and Promotion Management-

Advertising and Promotion Management

 

Assignment 1

1.      Analyse Amul Advertisement and write a brief report on this

2.      Write Pepsi and coca cola promotion strategies

3.      What is the impact on online advertisement on customer as compared to traditional advertisement?

 

Assignment 2

1.     Make an advertisement of any product. Create a campaign, logo, tagline and a product.

 


International Business Management-

 Assignment 1

1. Nature and Scope of International Business

2.  Globalization – Effects on Economy, Advantages and Challenges

3.What are the International Trade Theories and its applications?

4. Write Hecksher Ohlin Theory, Michael Porter’s Diamond model.



                                                                       Assignment 2

1. write the Concept of Spot Rate, Forward rate and Futures 

2. What is Balance of Trade and Balance of Payments –

3. Write Documentation process about International Trade and EXIM

Finance.

Decision Making and Risk Management-

 Assignment 1

1. What are the various types of Decisions, explain Steps in Decision making process, and  how to make Creative decision

2. What is rational models fail ?, Traps and cognitive barriers that lead to sub-optimal decisions



Assignmnet 2

1. What is EQ (Emotional Intelligence) versus IQ as essential decision making traits

to manage risks

2. What is the difference between  Conflict and Risk -

3. What is the  Resistance to change, explain the Key elements of EQ:

leadership and brain chemistry

Production and Operation Management

 Assignment 1

Q 1.Write any three answers of the following

  1. What is production management and explain it with the objectives and function

  2. What is the plant layout? Explain it with the various types

  3. Definition of Product Design,Factors affecting Product Design

  4. What is  Product Development Explain Various techniques or Tools of Product Development

  5.  What is Kaizen ? explain principles, procedure for Implementation, Benefits and Reasons for failure

Assignment 2

Q2. Write any three short notes of the following                                                   

  1. Quality Circle

  2. Ergonomics

  3. Classification of Products

  4. Plant location

  5. Measurement of Productivity 

Entrepreneurship and small business management

Assignment 1.

1. Explain the Concept of Entrepreneur, Manager,Intrapreneur 
Entrepreneur and Entrepreneurship 
2. Give Meaning, Definition, Evolution of Entrepreneurs, 
3. What are the Qualities and Functions of 
Entrepreneur. 
4. What are the factors influencing Entrepreneurship: 
5. Role of Entrepreneur in growth and development of the small business. 
6. Discuss the carious problem of Unemployment and Importance of 
wealth creation.

Assignment  2.
1. What are Tools And Techniques: Market Survey 
2. What is Divergent and Convergent thinking 
3 Explain MSMEs and Sick Enterprises : 
4. What is the  process of Rehabilitation of Sick Units. 


Assignment 3 :
Write short notes of the following
 
a)Bank Loan 
b) Angel Funding 
c) Venture Funding 
d) Self Employment Schemes of Government of 
Maharashtra. 

Corporate Social Responsibility


Corporate Social Responsibility 

Meaning and Concept of Corporate Social Responsibility

There has, in recent times, been an increasing interest in understanding corporate social (and environmental) responsibility (CSR) and, in particular, CSR reporting in developing countries.

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. By practicing corporate social responsibility, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.

The practices and policies adopted by the corporation with relation to the corporate social responsibility needs to have positive influence on the world. These practices revolve around the idea that it is not necessary that the impact of a business is always negative. Businesses can make the world a better place with their practices and can reduce their negative social and environmental impact on the world.

More and more corporations worldwide are involved in corporate social responsibility activities, and as a result are providing more social and environmental information to the public.

Historical Backdrop of Corporate Social Responsibility

For decades, companies have been using (CSR) to give back to the society. This management concept as we know it today is mainly a product of the twentieth century, taking shape in the early 1950s.

Even though the practice of corporate social responsibility gained popularity in the recent times, the concept can be traced back to the times during the Industrial Revolution.

Although responsible companies had already existed for more than a century before, the term Corporate Social Responsibility was officially coined in 1953 by American economist Howard Bowen in his publication Social Responsibilities of the Businessman. As such, Bowen is often referred to as the father of CSR.[2]

In 1971, the concept of the ‘social contract’ between businesses and society was introduced by the Committee for Economic Development. This contract brought forward the idea that companies function and exist because of public consent and, therefore, there is an obligation to contribute to the needs of society.

History of Corporate Social Responsibility in India

It was more of a philanthropic exercise and had nothing to do with business. It was more like an institution building exercise like building research and educational institutes. The thinking has now changed, and corporates have started to view CSR as strategic philanthropy linked with responsibility and veering towards community development through various projects. So, the thinking now is that it is no longer a forced philanthropy or tick the box responsibility. It is investing hard capital/resources to serve the society and build a company’s reputation.

The change in the thought process is because CSR, though being a responsibility is not compulsory. It is “comply or explain.” it is not they “must do it” but “will do it or explain why we failed to do it.”

Corporates are also moving to spend in areas like road safety, pollution control, and slum development. Some corporates have even aligned their CSR spends with the broad objectives of the government in its various social impact schemes like “Skill India,” “Swatch Bharat.” Some have spent through the Prime Minister Relief Fund. The question one may ask is why only in these areas and say why not in areas like arts and culture or conservation of animals which are getting extinct, conservation of national heritage or say development of rural sports or sports which are dying or say building new technologies for the benefit of the poor. The answer to this is that there is a need to spend on the traditional areas as it tends to be beneficial to the larger group/community.

The larger organizations, some of whom assumed global stature, created their own foundations that were used to by the founders as vehicles for causes they wanted to be a champion. Other corporates also spent money for the upliftment of localities they operated in or for communities they came from.

Companies that traditionally undertook CSR anyway, with or without the law, used this opportunity to streamline the investments they made in this regard. For these firms, this was a chance to re-review and re-strategize what they had already been doing in order to fit into the requirements of the law.

Position Corporate Social Responsibility in India

On April 1, 2014, India became the first country to legally mandate corporate social responsibility. The new rules in Section 135 of India’s Companies Act make it mandatory for companies of a certain turnover and profitability to spend two percent of their average net profit for the past three years on CSR.

Now Corporate Social Responsibility (CSR) is well accepted among shareholders as well as with various other stakeholders of society in India. The term CSR is new normal for Indian organizations. CSR tends to focus on what is done with profits after they are made. Larger corporations understand that CSR is an integral part of business framework for sustainable development. Companies also consider that CSR is an approach towards Social Profit sustainable development and focus on the triple bottom line of Economic, Environmental and Social performance.

In India, the term Corporate Social Responsibility (CSR) is widely being used even though related concepts and terms, such as business responsibility, sustainable development, philanthropy, sustainability, corporate citizenship, responsible business, triple bottom line, shared value, value creation, business ethics, socio-economic responsibility, bottom of pyramid, stakeholder management, corporate responsibility, and corporate social performance.

It has been observed that for Indian Companies, Corporate Social Responsibility (CSR) is the commitment of businesses to contribute to sustainable economic development by working with the employees, their families, the local community, experts and the society at large to improve lives in ways that are good for business and for its development.

At public sector business organizations in India, CSR has been also looked upon as closely linked with the principle of sustainable economic development, which demand that organizations should make decisions and act based not only on financial factors but also on immediate and long term social and environmental consequences of their operations and activities.

Businesses in India have been sensitive towards the concerns of society and are committed to operating its core business in a socially responsible way by taking into consideration the wider interests of the community and the environment.

Challenges Faced in the Evolution of Corporate Social Responsibility

1. Lack of Community Participation in CSR Activities:

There is a lack of interest of the local community in participating and contributing to CSR activities of companies. This is largely attributable to the fact that there exists little or no knowledge about. CSR within the local communities as no serious efforts have been made to spread awareness about CSR and instill confidence in the local communities about such initiatives. The situation is further aggravated by a lack of communication between the company and the community at the grassroots.

2. Need to Build Local Capacities:

There is a need for capacity building of the local nongovernmental organizations as there is serious dearth of trained and efficient organizations that can effectively contribute to the ongoing CSR activities initiated by companies. This seriously compromises scaling up of CSR initiatives and subsequently limits the scope of such activities.

3. Issues of Transparency:

 Lack of transparency is one of the key issues brought forth by the survey. There is an expression by the companies that there exists lack of transparency on the part of the local implementing agencies as they do not make adequate efforts to disclose information on their programs, audit issues, impact assessment and utilization of funds. This reported lack of transparency negatively impacts the process of trust building between companies and local communities, which is a key to the success of any CSR initiative at the local level.

 4. Non-availability of Well Organized Non-governmental Organizations:

 It is also reported that there is non-availability of well-organized nongovernmental organizations in remote and rural areas that can assess and identify real needs of the community and work along with companies to ensure successful implementation of CSR activities. This also builds the case for investing in local communities by way of building their capacities to undertake development projects at local levels.

 5. Visibility Factor:

The role of media in highlighting good cases of successful CSR initiatives is welcomed as it spreads good stories and sensitizes the local population about various ongoing CSR initiatives of companies. This apparent influence of gaining visibility and branding exercise often leads many nongovernmental organizations to involve themselves in event-based programs; in the process, they often miss out on meaningful grassroots interventions.

 6. Narrow Perception towards CSR Initiatives:

 Non-governmental organizations and Government agencies usually possess a narrow outlook towards the CSR initiatives of companies, often defining CSR initiatives more donor-driven than local in approach. As a result, they find it hard to decide whether they should participate in such activities at all in medium and long run.

 7. Non-availability of Clear CSR Guidelines:

 There are no clear cut statutory guidelines or policy directives to give a definitive direction to CSR initiatives of companies. It is found that the scale of CSR initiatives of companies should depend upon their business size and profile. In other words, the bigger the company, the bigger is its CSR program.

8. Lack of Consensus on Implementing CSR Issues:

There is a lack of consensus amongst local agencies regarding CSR projects. This lack of consensus often results in duplication of activities by corporate houses in areas of their intervention. This results in a competitive spirit between local implementing agencies rather than building collaborative approaches on issues. This factor limits company‘s abilities to undertake impact assessment of their initiatives from time to time.

Corporate Social Responsibility and Companies Act 2013

  • The new concept of Corporate Social Responsibility has been introduced by the Companies Act, 2013.
  • Under the erstwhile Companies Act, there was no concept of Corporate Social Responsibility.
  • The new concept of Corporate Social Responsibility has been introduced under section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility) rules, 2014.
  • India is the first country in the world to introduce statutory Corporate Social Responsibility (CSR) through the new Companies Act, 2013. Prior to this landmark development, CSR was not a new concept in India and can be traced with historic pieces of evidence.
  • While doing web search about CSR and CSR policies apparently one feels that lot many things have been done in foreign countries and India has borrowed the concept from the foreign countries. But, the fact is that the concept of CSR has existed in ancient India and our ancient wisdom has framed a platform for CSR and the proud moment is such ancient wisdom has given direction to the corporate houses and industries. Our rich ancient knowledge and tradition is the very basis of modern corporate level CSR practices. The origin of CSR can be traced from our Upanishads, Puranas and Vedic literature like Ramayana, Mahabharata, and Bhagavad-gita.
  • As is common wisdom, Indian companies have been engaged in CSR/charity/philanthropy since time immemorial. Whether it was the factories investing in the communities around them to reduce dependence on a migratory workforce and for having happier families and hence happier employees, or businessmen giving back to their communities or causes near and dear to their hearts, or foundations building places of worship to bring communities together, or a whole host of other methods through which we had corporates giving back to the society in some shape or form. In most instances, these were treated as acts of charity or philanthropy, or the owners giving back to society.

Notable Work by Some Companies

Ashok Leyland

 Operates a FunBus in Chennai and New Delhi. This bus, equipped with a hydraulic lift, takes differently abled children and those from orphanages and corporation primary schools on a day‘s picnic. The company also runs AIDS awareness and prevention programmes in its Hosur factories for about 3.5 lakh drivers.

Axis Bank

The Axis Bank Foundation runs Balwadis which are learning places for children living in large urban slum clusters. It also conducts skill development programmes (PREMA and Yuva Parivartan) in motor driving, welding, mobile repairing, tailoring etc., for the youth in backward districts.

Bharat Petroleum Corporation

Its rain water harvesting project Boond, in association with the Oil Industries Development Board, selects draught-stricken villages to turn them from „water-scarce to water-positive‟. Some of BPCLs other social programmes include adoption of villages, prevention and care for HIV/AIDS and rural health care.

Hindalco Industries

Its CSR activities are concentrated in 692 villages and 12 urban slums, where it reaches out to about 26 lakh people. It has constructed check dams, ponds and bore wells to provide safe drinking water. In education, it awards scholarships to students from the rural schools it supports. Its other interests include women‘s empowerment and health care, in which it treats patients in hospitals, runs medical camps and operates rural mobile medical van services.

Indian Oil Corporation

It runs the Indian Oil Foundation (IOF), a non-profit trust, which works for the preservation and promotion of the country‘s heritage. IOCL also offers 150 sports scholarships every year to promising youngsters. Some of its other initiatives lie in the domains of clean drinking water, education, hospitals and health care.

Infosys

The Infosys Science Foundation, set up in 2009, gives away the annual Infosys Prize to honor outstanding achievements in the fields of science and engineering. The company supports causes in health care, culture and rural development. In an interesting initiative undertaken by it, 100 school teachers in Karnataka, who were suffering from arthritis, underwent free surgery as a part of a week-long programme.

Mahindra & Mahindra

Nanhi Kali, a programme runs by the KC Mahindra Education Trust, supports education of over 75,000 underprivileged girls. The trust has awarded grants and scholarships to 83,245 students so far. In vocational training, the Mahindra Pride School provides livelihood training to youth from socially and economically disadvantaged communities. M&M also works for causes related to environment, health care, sports and culture.

 Oil & Natural Gas Corporation

 It offers community-based health care services in rural areas through 30 Mobile Medicare Units (MMUs). The ONGC-Eastern Swamp Deer Conservation Project works to protect the rare species of Easter Swamp Deer at the Kaziranga National Park in Assam. ONGC also supports education and women empowerment.

Tata Consultancy Services

 Its Computer Based Functional Literacy (CBFL) initiative for providing adult literacy has already benefitted 1.2 lakh people. The programme is available in nine Indian languages. Besides adult education, TCS also works in the areas of skill development, health care and agriculture.

Tata Steel

It comes out with the Human Development Index (HDI), a composite index of health, education and income levels, to assess the impact of its work in rural areas. Health care is one of its main concerns. The Tata Steel Rural Development Society aims to improve agricultural productivity and raise farmer’s standard of living.

Tuesday, December 6, 2022

How to make project ? Standard Guidelines for making project

 

 





                          

Project Report Format

Initial Pages of Project Report


1)  Title page

2)  Company Certificate (if applicable)

3)  Guide Certificate

4)  Declaration

5)  Acknowledgements


Executive Summary: Includes Brief introduction of the company, nature of task undertaken, the methodology adopted, Major learning outcomes, specific findings and suggestions in the form of contribution to the host organization


Chapter 1: Introduction to Study

The introduction of the project should focus on the project title, brief details of the organization where the project was carried out, purpose and significance behind the selection of the project topic, outline of the problem/task undertaken, scope, objectives, hypotheses (if any) and limitations of the project.


Chapter 2: Organization Profile & Insight of the Business Environment

The organization profile is expected to include a brief history and the current status of the company. Organization Chart/ Structure, Departmental hierarchy where the project has been undertaken, Total employee strengths, turnover, vision, mission, objectives, market share, products & services offered, and client details (include financial data wherever needed). Insight into the business environment can include a brief introduction to the business environment (Global as well as Indian), Industry Analysis, and SWOT analysis of the organization with respect to happenings in the respective industry..


Chapter 3: Review of Literature

The purpose of the review of literature is to clarify the conceptual background of the project topic. This, in turn, help student to frame quality questions in the questionnaire, while facing project viva and writing learning outcomes, findings, suggestions, and conclusion of the project. It includes a review of related published research articles, and data from secondary sources like reference books, magazines, newspapers, websites, databases, etc. 

Chapter 4: Research Methodology

It should include a Statement of the problem, Objectives, and Hypotheses (if any), and Research Design

In the case of the research project, information related to research design including sampling, data collection, tools used for data analysis, and research process: Step-by-step information on how respective research work is carried out to be included.

Chapter 5: Data Analysis, Interpretation, and Hypothesis Testing (if applicable)

This includes relevant quantitative data analysis using charts, tables, graphs, and diagrams, followed by a  brief interpretation. In addition, if the nature of the data is qualitative consult the respective project Guide for giving treatment to the data. In the case of a technical project, format and specification will remain at  the discretion of the Project Guide.

And /Or

For Task-based Project-

Relevant task/activity details, Summary tables of tasks performed.

Chapter 6: Observations, Findings, Suggestions, and Conclusion

Observations are drawn related to objectives framed to be documented without any ambiguity. In addition, any general but relevant and significant observation/s are to be mentioned. Finally, relevant findings, suggestions, and conclusions are to be elaborated.

Chapter 7: Learning and Contribution to Organization (mandatory in case the project is task-based)

This will ensure a correlation between theory and practice.

References: References by using appropriate styles (APA, MLA, Harvard Style, Chicago style, etc.)

Annexure(s): Questionnaire, Reports, Data Sheets, Photographs if any.

 

Note: Charts, graphs, diagrams, maps, etc should be compiled in appropriate chapters


Thursday, December 1, 2022

Managerial Economics SEM II (SPPU)

Short Note

  1. Sole Proprietorship
  2. Role Of MNC
  3.  Factors affecting pricing decision 
  4.  Value (NPV), Internal Rate of Return (IRR)
  5.  Joint Stock Company
  6. Public-Private Partnership
  7. Capital Rationing 
  8. Skimming and penetration.
  9. Nature of capital budgeting.
  10. Mark-up pricing
  11. Sources of capital

Long Notes 

  1.  What are the main characteristics of managerial economics.
  2.  What is Sole Proprietorship - Meaning, features, Merits, and Demerits.
  3. What is Partnership - meaning, features, merits, and demerits.
  4.  What is a Joint Stock Company- Meaning, features, merits and demerits, and Distinction between a public company and a private company.
  5. What is Public Enterprise- Meaning, features, merits and demerits, Types of Public Enterprises.
  6. What is Public-Private Partnership.
  7. What are Multinational Corporations- Meaning, features, merits, and demerits.
  8. State the Role of MNCs in India.
  9.  Components in Pricing of the product
  10.  Marginal Cost Pricing, mark-up pricing
  11.  Transfer pricing, product line pricing, price
  12.  Skimming and penetration.
  13.   Profit Management, Nature, and measurement of profit, 
  14. The hypothesis of profit maximization and its alternative.
  15.  Meaning of Capital Budgeting, Need and, nature of capital budgeting.
  16. Demand for Capital and Supply of Capital sources of capital) 
  17.  Capital Rationing 
  18.  Methods of Capital Budgeting- Net Present
  19. Payback period method, Average Rate of Return.
  20. Apprizing the profitability of the project.


Tuesday, November 29, 2022

Ethics, Types of Ethics

ethics.jpg

image reference: aafaizli.com


Ethics also known as moral philosophy, is a branch of philosophy that involves systemizing, defending, and recommending concepts of right and wrong conduct. Ethics seeks to resolve questions dealing with human morality, concepts such as good and evil, right and wrong, virtue and vice, and justice and crime.

Ethics is a systematic and critical analysis of morality, of the moral factors that guide human conduct in a particular society or practice. Ethics defines the elements essential to human well-being and proposes principles to be used as guidelines for generating an ethical culture. Ethics also refers to the specific values, standards, rules, and agreements people adopt for conducting their lives.

Ethics, most broadly, is the study of human behavior and its consequences in the light of what is ideally possible. For example, ethicists might study a society's mores or morals to determine what effect they would have on humankind if they were used as universal standards.

Ethics are not merely social conventions, like table manners. Ethics define the social conditions necessary for human beings to thrive.

How do we know what is ethical?

Ethical wisdom is the product of a long history of human struggle. By trial and error societies discover how to create mutually enhancing relationships. Yet ethics also come from the reality-producing function of the mind.

In addition to being propelled by events of the past, human beings are simultaneously drawn forward by their view of the possibilities of the future. When people act "as if" something can

happen, they can behave so as to make it a self-fulfilling prophecy. The challenge is to understand what conditions lead to human well-being, envision an ideal ethical culture, and then derive principles that would create a good life.

Dickson (2013, Rundu Campus) indicated that ethics are set moral principles that govern a person's or group's behavior. When someone is behaving ethically they conform to generally accepted practices of a society or group. Most ethically acceptable practices are universal such as.

Each society has a set of rules that set boundaries for acceptable behavior, these rules are often expressed in statements about how you should behave. These statements come together to form a moral code by which a society lives. Morals are ideas held about right and wrong or values, these ideas sometimes come into conflict with one another.

According to Dickson (October 19, 2013) behavior (morals) follows values (manners) and contributes to the stability of society. Everyone works within their own moral code, which means you act with integrity. Laws on the other hand are a system of rules that society imposes on individuals that define whether or not one is allowed to do something. Institutions like law enforcement enforce laws. Laws may or may not follow the moral code for individuals or ethical considerations.

It addresses matters of public policy as well as more personal matters. On the one hand, it draws strength from our social environment, established practices, law, religion, and individual conscience.

On the other hand, it critically assesses each of these sources of strength. So, ethics is complex and often perplexing and controversial. It defies concise, clear definitions. Yet, it is something with which all of us, including young children, have a working familiarity.

Ethical Culture proposes that the state of spiritual-ethical harmony would be created whenever people live by these three guidelines taken together:

• Act as a member of an ideal ethical culture with a sense of interdependence with humanity and nature.

• Act so as to achieve your own full and unique potential.

• Act so as to elicit the best and most distinctive qualities in others and thereby in oneself.

The terms morality and ethics are often interchanged. Ethics has a double meaning. It may refer to the study of our values and their justification. In this sense it is often called moral philosophy, on the other hand ethics may also mean the actual values and rules of conduct by which we live, or our morality.

So, we may say that the study of ethics includes the study of morality which generally refers to a particular ethic or the moral tradition of a given religion or society. Nonetheless, the adjectives moral and ethical may be accurately interchanged.

TYPES OF ETHICS

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image reference: Bigstock.com

META-ETHICS

The term “meta” means after or beyond. We can define meta ethics as the study of the origin and meaning of ethical concepts. Meta ethics is a branch of analytic philosophy that explores the status, foundations, and scope of moral values, properties, and words. Meta ethics searches for the origins or causes of right and wrong. Meta ethics focuses on what morality itself is.

Meta ethics could also said to be , the attempt to understand the metaphysical, epistemological, semantic, and psychological, presuppositions and commitments of moral thought, talk, and practice. As such, it counts within its domain a broad range of questions and puzzles, including: Is morality more a matter of taste than truth? Are moral standards culturally relative? Are there moral facts? If there are moral facts, what is their origin? How is it that they set an appropriate standard for our behavior? How might moral facts be related to other facts (about psychology, happiness, human conventions…)? And how do we learn about moral facts, if there are any? Meta ethics explores as well the connection between values, reasons for action, and human motivation, asking how it is that moral standards might provide us with reasons to do or refrain from doing as it demands, and it addresses many of the issues commonly bound up with the nature of freedom and its significance (or not) for moral responsibility. Metaethics investigates where our ethical principles come from, and what they mean.

Meta-ethical positions may be divided according to how they respond to questions such as the following:

What exactly are people doing when they use moral words such as “good” and “right”?

What precisely is a moral value in the first place, and are such values similar to other familiar sorts of entities, such as objects and properties?

Where do moral values come from—what is their source and foundation?

Are some things morally right or wrong for all people at all times, or does morality instead vary from person to person, context to context, or culture to culture?

NORMATIVE ETHICS

Normative Ethics proposes that right and wrong can be found within scenarios. Normative Ethics: attempt to answer specific moral questions concerning what people should do or believe. The word "normative" refers to guidelines or norms and is often used interchangeably with the word "prescriptive. Normative ethics involves arriving at moral standards that regulate right and wrong conduct.

Normative ethics is interested in determining the content of our moral behavior. Normative ethical theories seek to provide action guides; procedures for answering the Practical Question ("What ought I to do?").

Examples of behaviors that are judged as right or wrong in Normative Ethics are honesty, lying, and stealing. The behaviors being judged by Normative Ethics are actions that have already occurred and are then being interpreted by the observer to be "honesty," "lying," or others.

To summarize, Normative Ethics attempts to discover the standards of right and wrong within the end-products of things like honesty, and not within the origins of the natural laws that dictate what is right and wrong.

APPLIED ETHICS

Applied Ethics attempts to deal with specific realms of human action and to craft criteria for discussing issues that might arise within those realms. Applied Ethics can also be defined as the following:

-A classification within western philosophy.

  • The philosophical search (within western philosophy) for right and wrong within controversial scenarios.
    Applied ethics is the branch of ethics that consists of the analysis of specific, controversial moral issues such as abortion, animal rights, or euthanasia. In recent years applied ethical issues have been subdivided into convenient groups such as medical ethics, business ethics, environmental ethics, and sexual ethics. Generally speaking, two features are necessary for an issue to be considered an “applied ethical issue.” First, the issue needs to be controversial in the sense that there are significant groups of people both for and against the issue at hand.
    The second requirement for an issue to be an applied ethical issue is that it must be a distinctly moral issue. On any given day, the media presents us with an array of sensitive issues such as affirmative action policies, gays in the military, involuntary commitment of the mentally impaired, capitalistic versus socialistic business practices, public versus private health care systems, or energy conservation. Although all of these issues are controversial and have an important impact on society, they are not all moral issues. Some are only issues of social policy.

    DESCRIPTIVE ETHICS

    Descriptive ethics is sometimes referred to as comparative ethics because so much activity can involve comparing ethical systems: comparing the ethics of the past to the present, comparing the ethics of one society to another, and comparing the ethics which people claim to follow with the actual rules of conduct which do describe their actions.
    Strictly speaking, then, descriptive ethics is not entirely a field within philosophy rather, it is more a specialty that involves many different areas within the social sciences. It is not designed to provide guidance to people in making moral decisions, nor is it designed to evaluate the reasonableness of moral norms.
    In short, descriptive ethics asks these two questions:

  1. What do people claim as their moral norms?

  2. How do people actually behave when it comes to moral problems?
    Here are some examples of statements from Descriptive Ethics:

  3. Most Americans think that racism is wrong.

  4. Among certain cultures, there is no stigma attached to homosexuality.

VIRTUE ETHICS

Virtue ethics is currently one of three major approaches in normative ethics. 

It may, initially, be identified as the one that emphasizes the virtues, or moral character, in contrast to the approach which emphasizes duties or rules (deontology) or that which emphasizes the consequences of actions (consequentialism). 

Suppose it is obvious that someone in need should be helped.

 A utilitarian will point to the fact that the consequences of doing so will maximize well-being,

 a deontologist to the fact that, in doing so the agent will be acting in accordance with a moral rule such as “Do unto others as you would be done by” and a virtue ethicist to the fact that helping the person would be charitable or benevolent.

Virtue ethics is a broad term for theories that emphasize the role of character and virtue in moral philosophy rather than either doing one’s duty or acting in order to bring about good consequences.

 Most virtue ethics theories take their inspiration from Aristotle who declared that a virtuous person is someone who has ideal character traits. 

These traits derive from natural internal tendencies, but need to be nurtured; however, once established, they will become stable. For example, a virtuous person is someone who is kind across many situations over a lifetime because that is her character and not because she wants to maximize utility or gain favors or simply do her duty. Unlike deontological and consequentialist theories, theories of virtue ethics do not aim primarily to identify universal principles that can be applied in any moral situation. And virtue ethics theories deal with wider questions—“How should I live?” “What is the good life?” and “What are proper family and social values?”

Character-based ethics

• A right act is the action a virtuous person would do in the same circumstances.

Virtue ethics is person rather than action based: it looks at the virtue or moral character of the person carrying out an action, rather than at ethical duties and rules, or the consequences of particular actions.

Virtue ethics not only deals with the rightness or wrongness of individual actions, it provides guidance as to the sort of characteristics and behaviors a good person will seek to achieve.

In that way, virtue ethics is concerned with the whole of a person's life, rather than particular episodes or actions.

• A good person is someone who lives virtuously - who possesses and lives the virtues. It's a useful theory since human beings are often more interested in assessing the character of another person than they are in assessing the goodness or badness of a particular action. This suggests that the way to build a good society is to help its members to be good people, rather than to use laws and punishments to prevent or deter bad actions.

 

COMPARATIVE ETHICS

Comparative ethics, also called Descriptive Ethics, the empirical (observational) study of the moral beliefs and practices of different peoples and cultures in various places and times.

 It aims not only to elaborate such beliefs and practices but also to understand them insofar as they are causally conditioned by social, economic, and geographic circumstances. Comparative ethics, in contrast to normative ethics, is thus the proper subject matter of the social sciences (e.g., anthropology, history, sociology, and psychology).

Empirical studies show that all societies have moral rules that prescribe or forbid certain classes of action and that these rules are accompanied by sanctions to ensure their enforcement of particular interest in comparative ethics are the similarities and differences between the moral practices and beliefs of different people, as explained by physical and economic conditions, opportunities for cross-cultural contacts, and the force of inherited traditions facing new social or technological challenges. It has been observed, for example, that virtually every society has well-established norms dealing with such matters as family organization and individual duties, sexual activity, property rights, personal welfare, truth telling, and promise keeping, but not all societies have evolved the same norms for these various aspects of human conduct.

Some social scientists concentrate their attention on the universality of basic moral rules, such as those forbidding murder, theft, infidelity, and incest. Others are more concerned with the diversity of moral practices—e.g., monogamy versus polygamy; caring for the aged versus parricide; the forbidding of abortion versus voluntary feticide. The question then arises whether similarity or diversity is more fundamental, whether similarity supports the validity of the practice, and whether diversity supports relativism and skepticism. Clearly a consensus of all peoples in a moral opinion does not of itself establish validity. On the other hand, widespread agreement may support the argument that morality is rooted in human nature, and, if human nature is fundamentally everywhere the same, it will also manifest this similarity in significant ways, including morality. Such questions are philosophical and lie beyond the scope of the social sciences, which are restricted to empirically verifiable generalizations.

Another question concerns the development of morals. So far as this is an empirical issue, it must be distinguished from the question of whether there is progress in morality. For progress is an evaluative term whether the moral ideals, for example, or the practices of civilized peoples, or both, are higher than those of primitive peoples is itself a question of moral judgment rather than of social science. Still, social scientists and moral philosophers alike have noted important changes that have taken place in the historical development of various peoples.

UTILITARIAN ETHICS

These are principles that form the basis for most utilitarian theories. The principles must be used within the context of the theory and be grounded in the readings from the course. These are listed as only a guideline.

Principle of Utility: it is a principle that approves or disapproves of every action according to whether it increases or diminishes the amount of happiness of the party whose interest is in question.

a. Act Utilitarianism: An act is right if and only if it results in as much good as any available alternative. One cannot be both an act and a rule utilitarian at the same time; thus, using them both in your paper would be contradictory.

b. Rule Utilitarianism: An act is right if and only if it is required by a rule that is itself a member of a set of rules, the acceptance of which would lead to the greater good for society than any available alternative. One cannot be both an act and a rule utilitarian at the same time; thus, using them both in your paper would be contradictory.

Harm Principle: Society is justified in coercing the behavior of an individual in order to prevent her or him from injuring others; it is not justified in coercing her or him simply because the behavior is deemed immoral or harmful to herself or himself.

Principles of Consequences: In assessing consequences, the only thing that matters is the amount of happiness/good or unhappiness/bad that is caused or not caused. The right or good actions are those that produce the greatest amount of good over bad in the long term.

CONTRACT ETHICS

Morality consists of a set of rules (implicit or explicit), governing how people are to treat one another, which rational people will agree to accept, for their mutual benefit, on the condition that others follow those rules as well. Contract principles form the basis for many social contract theories. Some of these principles will work with either a consequentialist or non-consequentialist theory. If they are appropriate, you may use them as additional support in your paper. If you do use them, be sure they are consistent with other normative or prescriptive principles you use. Modern contract theories are based on the work of John Rawls, so if you use this approach, be sure you are familiar with his thought. The principles must be used within the context of the theory and be grounded in the readings from the course. These are listed as only a guideline.

Principle of Liberty: Each person has an equal right to the most extensive scheme of equal basic liberties compatible with a similar scheme of liberties for all.

Principle of Opportunity: There must be meaningful equality of opportunity in the competition among individuals for those positions in society that bring greater economic and social rewards.

Principle of Distributive Justice: Basic goods should be distributed so that the least advantaged members of society are benefited.

Principle of Justice: Each person possesses an inviolability founded on justice that even the welfare of society as a whole cannot override. The rights secured by justice are not subject to political bargaining or to the calculus of social interests.

Principle of Need: Each person is guaranteed the primary social goods that are necessary to meet the normal costs of satisfying one's basic needs in the society in which one lives, assuming there are sufficient social and economic resources in his society to maintain the guaranteed minimum.

DUTY (Deontological) ETHICS

The most primitive ethical systems seem to be based on a system of obligations. The child does what the parent wants because the parent says so. Thus “deontological” (from the Greek word that denotes, “duty”, which derives from the Greek word for “bind”) ethics starts from the idea that some things are just wrong and mustn’t be done. The key idea here is that “the intent to obey the rule is more important than the outcome”. Goodness is the ability to understand and act on moral obligations. Fundamental binding principles should govern an individual or firm’s behavior under any circumstance. The two main sources of such principles are religion and Kantian ethics.

Religions – they have rules attributed to revelation from God or advice handed down from religious leaders. Religions have different rules about what believers should eat or do on certain holy days, but many bases their general guides to act on principles of reciprocity and symmetry. Religions have the advantage that their rules are accompanied by maxims and parables to guide behavior. A common belief provides support and motivation from fellow believers to follow through on the desired behavior..