Ethics – What does it mean?

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Presentation transcript:

Ethics – What does it mean? DO NOW: What comes to mind when you hear the word ethical? EETHICAL

DO NOW Go to my web site/assignments/DO NOW Read article on the Tylenol crisis and be ready answer the following question: What did Johnson and Johnson do after people died from tainted Tylenol? How did it affect the company? What changes did J&J make to their packaging? Was it the right thing to do?Why/WhyNot?

BUSINESS ETHICS Ethics: principles of morality or rules of conduct Business Ethics: rules about how a business and employees ought to behave Code of ethics Ethical conduct guidelines Is the action legal? Does the action violate professional or company standards? Who is affected by the action and how? Top management must model this behavior

Conflict of Interest. A common concern in ethical decision-making involves a conflict of interest. This can occur when an action by a company or individual results in an unfair benefit. For example, it would be a conflict of interest if a person serving on a company’s board pressured the company to buy items only from businesses that the board member owns or controls.

Ethics Morals and Values Who do you admire and why?

Ethics, Morals and Values When making an ethical decision ask yourself this question. Would I do this in front of my mother? If you wouldn’t, don’t do it. http://www.youtube.com/watch?v=vcibfL2nSBQ

Ethics, Morals and values Group activity –Ethics under pressure –role playing Groups of threes (Persuader, Decider, Observer) Persuader – draws card reads it, role-plays the unethical situation with Decider Decider role-plays an answer with Persuader while Observer watches Observer provides positive feedback to the Persuader and Observer regarding the unethical situation/response. Switch roles by rotating one seat to the left.

Ethics, Morals and Value Are business ethics the same as personal ethics? YES they are the same, whether in the workplace or in your personal life. Professional ethics guided by your personal ethics. Group activity – Ethical dilemmas in business