Why Study Ethics? Management 117 Joseph Desjardins Author “Business Ethics” Jerry Estenson, Professor

Why? Need to be prepared for careers in business Many have been harmed by lack of attention to ethics Law requires it Lack of knowledge creates risks in the marketplace

Foundation of a strong strategy Objectives Goals Mission Vision Beliefs Values Purpose

The Legacy Thing Collins and Porras CORE IDEOLOGY CORE VALUES Organization’s essential and enduring tenets - a small set of guiding principles. Not compromised for financial or individual political gain. PURPOSE Fundamental reason for existence - A perpetual guiding star on the horizon. Use the scenario where an individual is an intellectual worker in California. There income is 100% mobile as is their work location. Make the case on why they should stay in California and pay the extra 1% tax.

Determining if a “Value” is Ethical Serves the end of human well-being Happiness, integrity, meaning, freedom, autonomy, companionship, health. Smoking is Ok then Ethical if promote well-being in an impartial way. Malden Mills – ethical, well-being, bad outcome

Ethics determine by Individual thinking for themselves “an unexamined life , is not worth living” Socrates. You therefore will be required to be thoughtful.

Ethics as the law Law is history – ethical decisions are now

First Old Dead Guys “ethics deals with no small things, but how we ought to live.” Socrates Ethos became ethics – customary (the rule of tribal norms) Philosophical ethics – seeks a reasoned analysis of custom and a reasoned defense of how we “ought” to live

Business Ethics The ethics of those charged with acting on behalf of a business. What should a business manager do in various situations?

We as educated members of society need ask: How should we live as an individual and a member of society?