Essentials Of Business Law Chapter 2 Ethics And The Law McGraw-Hill/Irwin Copyright © 2007 The McGraw-Hill Companies, Inc. All rights reserved.

Essentials of Business LawChapter 2-2 Ethics In Our World Accounting fraud  Sarbanes-Oxley Places a greater onus on upper management to monitor the financial dealings of their firms Environmental pollution Technology  Stem cell  Cloning Global business  Cultural differences

Essentials of Business LawChapter 2-3 Ethics, Morals, And Values Ethics  Philosophical approach to right and wrong Morals  Behaviors judged by society Values  Standards considered worthwhile

Essentials of Business LawChapter 2-4 Sources Of Group And Individual Values Religions Traditions Customs Culture  Values of a nation or ethnic group Subculture  Values within a corporation or department

Essentials of Business LawChapter 2-5 Relationship Between Law And Ethics Government  Impose legal mandates  Precise Ethics  Multifaceted  Form foundation of many legislative decisions

Essentials of Business LawChapter 2-6 Responses To Ethical Issues Business firms  Corporate responsibility Donate equipment and personnel to local school Construct a park  Code of ethics Principles of behavior for personnel in various situations

Essentials of Business LawChapter 2-7 Code Of Ethics Honesty Adherence to the law Product safety and quality Worker health and safety Conflicts of interest Employment practices Marketing practices Financial reporting Supplier relationships Pricing, billing, and contracting Trading in securities Payments to obtain business

Essentials of Business LawChapter 2-8 Responses To Ethical Issues Educational institutions  Courses  Workshops  Programs Trade and professional associations  Create guidelines

Essentials of Business LawChapter 2-9 Responses To Ethical Issues Government  Federal Sentencing Guidelines Hold companies to higher standards  U.S. Office of Government Ethics Conflicting financial interests Misuse of position Financial disclosure Impartiality in performing official duties  Foreign Corrupt Practices Act Prohibits American firms from bribing foreign officials

Essentials of Business LawChapter 2-10 Ensure Ethical Practices Whistleblowing  Revealing illegal or unethical behavior  Often causes ethical dilemma Integrating ethics into business and government  Watchdog groups