Ethics in Business. What is ethical? Personally? Organizationally? Is there a difference? Is ethics situational?
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Ethics in Business
What is ethical? Personally? Organizationally? Is there a difference? Is ethics situational?
What is ethics? Code of moral principles and values that governs the behaviors of a person or group with respect to what is right and wrong.
Ethical Systems Utilitarian Theory Universalist Theory Distributive Justice Personal Liberty/Individual Rights Eternal Law
The Law and Ethics Rule of Law; set of codified principles and regulations that describe how people are required to act, are generally accepted in society, and are enforceable in court. Ethical standards, for the most part, apply to behavior not covered by the law and the rule of law applies to behaviors not necessarily covered by ethical standards.
Ethical Values in Organizations Rule of Law Managerial Ethics Social Responsibility
Forces That Shape Managerial Ethics Is Decision or Behavior Ethical and Socially Responsible? Beliefs and Values Moral Development Ethical Framework Rituals, Ceremonies Stories, Heroes Language, Slogans Symbols Founder, History Government Regulations Customers Special Interest Groups Global Market Forces Structure Policies, Rules Code of Ethics Reward System Selection, Training External StakeholdersOrganizational Systems Personal Ethics Organizational Culture
Three Levels of Social Responsibility Profit Owners Stockholders Stakeholder Employees Customers Suppliers/Distributors Societal General Public Public Interest Groups Ecological Environment
Ethical Dilemma Arises in a situation concerning right and wrong where values are in conflict. Whose/which values are the most important and should be considered when making a decision? “obey the law and make as much money for the shareholders”
Issues of Emerging Technologies Human Resource Issues Efficiencies Training Telecommuting Security Issues Monitoring Managing New Laws Privacy Issues Public vs. private information E-commerce Stability Issues
Integrity The man of integrity walks securely; but he who takes crooked paths will be found out. (Prov. 10:19) The integrity of the upright guides them, but the unfaithful are destroyed by their duplicity. (Prov. 11:3)