Mrs. Ransey Business Essentials Business Ethics Mrs. Ransey Business Essentials

Standards and Essential Questions BCS-BE-11: The student compares and contrasts common ethical issues. BCS-BE-12: The student evaluates personal responsibility of ethical behavior. BCS-BE-13: The student investigates the relationship between ethics and law. BCS-BE-14: The student derives the importance of employer/employee relationships. BCS-BE-15: The student evaluates the impact of technology on business ethics. Essential Questions What are ethics? What does it mean to be ethical? How are ethical decisions made? What impact do ethics have in the workplace? What is social responsibility and how does this affect business?

The Nature of Ethics When you are guided by ethics, you do not cheat on a test or lie to friends or family. ethics moral principles by which people conduct themselves personally, socially, or professionally See page 79 in text book

The Nature of Ethics Most businesses are guided by business ethics. Different cultures, businesses, and industries have different ethical standards business ethics rules based on moral principles about how businesses and employees ought to conduct themselves

Business Ethics Fair treatment of employees Creating safe products Creating jobs Environmental protection Truthful about financial status

Law and Ethics In business, people follow rules as well as a code of ethics. code of ethics a set of guidelines for maintaining ethics in the workplace

Law and Ethics A sweatshop is an example of an unethical practice outlawed in the United States. sweatshop a shop or factory in which workers are employed for long hours at low wages and under unhealthy conditions

Law and Ethics The Occupational Safety and Health Administration (OSHA) sets and enforces work-related health and safety rules.

Ethics as Good Business Unethical business practices include: Lying Offering merchandise known to be substandard Treating customers or employees unfairly

Ethics as Good Business If a business violates government regulations, the owner can be fined or go to jail. If an employee violates a company or professional code, the employee might be fired or lose his or her license.

Ethics as Good Business Unethical business practices can result in bad word of mouth and result in lost sales. Unethical behavior toward employees can lead to legal action or a high rate of employees quitting.

Conflicts of Interest Conflict of interest is a major ethical question that is generally not illegal. conflict of interest a conflict between self-interest and professional obligation

Ethical Questions Is it against the law? Does it violate company or professional policies? Even if everyone is doing it, how would I feel if someone did this to me? Am I sacrificing long-term benefits for short-term gains?

The Ethical Decision-Making Process Identify the ethical dilemma. Discover alternative actions. Decide who might be affected. List the probable effects of the alternatives. Select the best alternative.

Closing Assignment Personal Code of Ethics Steps to Making Ethical Decisions Create a Thinking Map using one of the following: Describe Ethics Explain the steps to making ethical decisions Compare good ethical behavior with bad ethical behavior