Business Ethics and Social Responsibility Chapter 4 Introduction to Business.

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Presentation transcript:

Business Ethics and Social Responsibility Chapter 4 Introduction to Business

What Is Ethics? Ethics is the set of moral principles by which people conduct themselves personally, socially, or professionally.

Ethics is the set of principles by which you conduct yourself in society. How often do you help the environment? What do you do? Source: The NPD Group Figure 4.1 ENVIRONMENTALLY FRIENDLY

Business Ethics Business ethics is a set of laws about how a business should conduct itself. Do we at HTHS have a code of ethics?

·Sweatshops are factories that pay workers poorly, are unhealthy, and treat workers badly. ·The Occupational Safety and Health Administration (OSHA) is a division of the Department of Labor that sets and enforces work-related health and safety rules. ·Conflicts between law + ethics??????? Legal Responsibility

Consequences of Poor Business Ethics ·No repeat business. ·Lost employees. ·Possibly lost to your competition. ·License to practice revoked.

Important Ethical Questions ·Is it against the law? Does it violate company or professional policies? ·What if everyone did this? How would I feel if someone did this to me? ·Is it against the law? Does it violate company or professional policies?

Graphic Organizer Important Ethical Questions Graphic Organizer Does it violate the law or policies? ETHICAL DECISION Would this sacrifice long-term benefits for short-term gain? What if everyone did this, but it’s bad? UNETHICAL NO YES MAY BE UNETHICAL UNETHICAL

Ethical Dilemma??? 1.Identify the ethical dilemma. 2.Discover alternative actions. 3.Decide who might be affected. 4.List the probable effects of the alternatives. 5.Select the best alternative.

Social Responsibility ·Social responsibility is the duty to do what is best for the good of society.

Ethical Obligations ·The ethical obligations of a business are to: ·Provide safe products ·Create jobs ·Protect the environment ·Contribute to the standard of living in society ·Newman's Own CompanyNewman's Own Company

Unfair Business Practices ·A conflict of interest is when a business is tempted to put profits before social welfare. ·Some companies use unethical means to eliminate competition.

FDA ·The Food and Drug Administration (FDA), a government agency, protects consumers from dangerous or falsely advertised products. ·

Figure 4.2 OVER-THE-COUNTER MEDICINE LABEL The FDA governs advertising and labeling of over- the-counter medicines. Analyze why the FDA officials might feel that regulation of advertising and packaging labels is necessary. Warm-up

Ethics Regarding Employees ·The Equal Pay Act (passed in 1964) requires that men and women be paid the same wages for doing equal work. ·The Americans with Disabilities Act bans discrimination against persons with physical or mental disability.

Why Treat Employees Ethically? ·If you don ’ t: ·low morale ·poor productivity ·high turnover rate

Environmental Ethics ·In 1970, the U.S. government created the Environmental Protection Agency (EPA), a federal agency that enforces rules that protect the environment and control pollution. ·Environmentally Ethical Companies: ·Ben and Jerry’s ·Honda and Toyota ·LA Times Newspaper