Presentation on theme: "Managerial Ethics What is Ethics? Criteria for Ethical Decision Making"— Presentation transcript:
1 Managerial Ethics What is Ethics? Criteria for Ethical Decision Making Social ResponsibilityCorporate Actions Toward Social DemandsCode of Ethics
2 EthicsThe code of moral principles and values that govern the behaviors of a person or group with respect to what is right or wrong.Lies between the domains of codified law and free choiceBased on shared principles and valuesDisagreements and dilemmas about proper behavior often occur.
3 Three Domains of Human Action Domain ofCodified Law(Legal Standard)Ethics(Social Standard)Free Choice(Personal Standard)Amount ofExplicit ControlHighLow
4 Ethical DilemmaA situation that arises when all alternative choices or behaviors have been deemed undesirable because of potentially negative ethical consequences, making it difficult to distinguish right from wrong.
5 Criteria for Ethical Decision Making Utilitarian ApproachIndividualism ApproachMoral-Rights ApproachJustice Approach
6 Utilitarian ApproachMoral behaviors produce the greatest good for the greatest number.
7 Individualism Approach Acts are moral when they promote the individual's best long-term interests.
8 Moral-Rights Approach Human beings have fundamental rights that cannot be taken away by an individual's decision.1. Free consent2. Privacy3. Conscience4. Free speech5. Due process6. Life and safety.
9 Justice Approach Standards of equity, fairness, and impartiality. Distributive JusticeProcedural JusticeCompensatory Justice
10 Social Responsibility Management's obligation to make choices and take actions that will contribute to the welfare and interests of society as well as to the welfare and interests of the organizationBeing a good corporate citizen.4 criteria: economic, legal, ethical, discretionary.