1. Business Ethics and Social Responsibility

3. Business Ethics
A collection of principles and rules that define right and wrong conduct for an organization.

4. Ethical Dilemma
A situation arises when all alternative choices or behaviors have potentially negative consequences making it difficult to make a decision.

5. Methods for Resolution Analyze the consequences
Utilitarian Approach-the ethical concept that moral behaviors produce the greatest good for the greatest number.
This approach looks at the consequences and decides if the benefit is better than the harm.
Example Pharmaceuticals the benefits to more people outweigh the risk to few

6. Methods for Resolution Analyze the consequences
Individualism approach-contends that the act is moral if it promotes the individuals best long term interests
Promotes that if all individuals act in the best long term interest in themselves that people will ultimately treat people the way they want to be treated
Often misinterpreted to behavior that promotes immediate self gain

7. Methods for Resolution Analyze the actions
Moral Rights Approach
6 Rights should be considered
Asserts that human beings have fundamental rights and liberties’ that cannot be taken away by any individuals decision
Free consent
Privacy
Freedom of conscience
Free speech
Due process
Life and safety

8. Methods for Resolution Analyze the actions
Justice Approach-
3 Standards
Holds that moral decisions must be based on standards of equity, fairness and impartiality
Distributive Justice- treat the same men/women shouldn’t get different salaries for same job
Procedural Justice-rules be administered fairly and consistently
Compensatory Justice-people should be compensated for injuries. And not responsible for things they don’t control

9. Code of Ethics/Code of Conduct
A set of rules outlining the responsibilities or proper practice for an individual or organization

10. Whistle Blowing
occurs when an insider reports alleged organizational misconduct to the public

11. Social Responsibility
is managements obligation to make choices and take actions that will contribute to the welfare and interests of society as well as the organization.