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unit 3-BBA

The document discusses ethical principles in Indian philosophies, focusing on the concepts of ethics, values, and business ethics. It emphasizes the importance of Dharma and Karma Yoga in guiding ethical business practices, highlighting the need for moral conduct and the well-being of all stakeholders. Key principles include duty, managing ego, detachment from outcomes, and acting without expectation of rewards.

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11 views5 pages

unit 3-BBA

The document discusses ethical principles in Indian philosophies, focusing on the concepts of ethics, values, and business ethics. It emphasizes the importance of Dharma and Karma Yoga in guiding ethical business practices, highlighting the need for moral conduct and the well-being of all stakeholders. Key principles include duty, managing ego, detachment from outcomes, and acting without expectation of rewards.

Uploaded by

loseferdevil
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Unit -3

Ethical Principles in Indian Philosophies

Ethics and Values


 Ethics
A set of rules that govern a person's behavior and determine what is right
or wrong. Ethics are often agreed upon and can change over time. They are
concerned with human actions and the values that underlie them.

 Values
An individual's beliefs that motivate their actions and help them determine
what is important to them. Values are personal and tend to remain
consistent. They are broader than specific things, people, or circumstances.

What do you mean by Buisness Ethics


Business ethics is the moral principles, policies, and values that govern the way
companies and individuals engage in business activity. It goes beyond legal
requirements to establish a code of conduct that drives employee behavior at all
levels and helps build trust between a business and its customer.
Nature of Buisness Ethics
1. Deals with human conduct
2. Create Good will to maximize Profit
3. Earns Loyalty and commitment of customer and employees
4. Brings together desired moral values & corporate interests.
5. Success in the long term.

Need of business Ethics


1. Stop Business Malpractices.
2. Improve Consumer Confidence.
3. Protecting Consumer rights.
4. Develops good relationship between Business & Society.
5. Creates good image of Buisness
6. Consumer Satisfaction
7. Importance of Labour.

Concept of Dharma in Buisness Ethics

Dharma is a key idea in Hindu teachings about how to live a good life. It means
doing one’s duty and acting in a moral and right way. Dharma helps people know
how to behave both in their personal lives and at work. The word comes from an
old Sanskrit term that means to keep things in order.
By following Dharma in business, we are encouraged to make decisions that are
good for everyone, including the planet. This means companies should not only
focus on making money but also look after their employees, customers, and the
environment.

For example, a company following Dharma would avoid polluting the environment
and instead use eco-friendly materials and processes. They would treat their
workers well and pay them fairly. They would also be honest with their customers
and not mislead them. This way of doing business is good for everyone and can
help make the world a better place.

Dharma serves as the moral compass that directs our ambitions towards righteous
actions. The Bhagavad Gita illuminates the path, urging us to pursue ambitions in
harmony with our inherent duties and moral principles. As we navigate life's
ambitions, let's heed the Gita's wisdom, ensuring that our pursuits align with
righteousness, thus leading to a fulfilling and purposeful existence.

Mahabharata and Ramayana are two of the most important ancient Indian epics,
and they provide insights into the principles of business ethics and human
relations. In Mahabharata, the character of Yudhishthira embodies the principles of
ethical conduct in business. He is known for his honesty, fairness and sense of duty
towards his employees and customer. The Ramayana, on the other hand,
emphasizes the importance of personal relationships in business. The character of
Rama is known for his compassion and respect for others, which helps him to build
strong relationships with his employees, consumers and suppliers.

Karma Yoga in business Ethics

Karma yoga is a philosophy that can be applied to business ethics to help guide
actions and make a business more ethical. The principles of karma yoga can help
businesses build trust with customers, maintain profitability, and create a better
society.
What Is the Meaning of Karma Yoga?
The word Karma means “action,” so Karma Yoga is the “Yoga of Action” or
“Duty.” , it encourages action without any attachment to the results or outcomes.
As Shri Krishna says in the Bhagavad Gita:

he 4 main principles of Karma Yoga are:

1. Duty
2. Ego
3. Attachment
4. Expectation of reward
The main purpose of Karma Yoga is to control and let go of your ego, thereby
purifying the mind and helping us realize our true Self. To do this, we need to
engage with our duties without attachment or personal desires.

The Four Principles of Karma Yoga Explained

1.Duty
Everybody has duties in life. Some are because of society or family, while others
are choices we make, like being a good boss or supportive friend. In Karma Yoga,
duties are known as Dharma and recognizing and ranking them is key.
While understanding our role in other people's lives is fundamental, the highest
obligation you have is towards yourself. Only by ensuring your well-being can you
effectively support others. Moreover, any duty you perform should be done with
diligence. Whether tidying a room or completing a task at work, it should reflect
your best efforts.

2. Ego
Ego is your self-image and the thoughts you have about yourself and others,
shaped by characteristics such as your likes, dislikes, and desires. Often, we base
our actions on how they'll affect our image. While some believe ego helps them
perform better, it can also be harmful. Ego can distort our view of reality and
cloud our understanding.
In contrast, selfless action is about performing duties without thinking about
yourself. The core goal of this practice is to manage and eventually free yourself
from ego.

3. Attachment
Karma Yoga is about doing your duty impartially, without getting attached to it.
Whether you enjoy the task or not, you give it your all. For instance, as a teacher,
you wouldn't favor one student over another. The focus is on performing the duty,
without concern for the outcome or the process.

4. Expectation of Reward
We often act with the expectation of a return. This could be working for a
paycheck or recognition, or even caring for loved ones in hopes of receiving their
love and gratitude. But when you act without expecting rewards, the result doesn’t
influence your actions. You do it because it's the right thing to do, not for personal
gain. This is Karma Yoga.

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