1. Ch. 4 Business Ethics and Social Responsibility
4.1
Business Ethics

2. Nature of Ethics
Ethics: moral principles by which people conduct themselves personally, socially, or professionally.
Not cheating on tests or lying to your family
Business Ethics: rules based on moral principles about how businesses and employees ought to conduct themselves.
Provide safe products
Treat employees fairly
Protect the environment

3. Law and Ethics What’s the difference between laws and ethics?
What do laws do?
What do ethics do?
Code of Ethics: a set of guidelines for maintaining ethics in the workplace.
Most businesses follow their own code of ethics.
Many unethical practices lead to the passage of laws that make them illegal.
Sweatshop: a shop or factory in which workers are employed for long hours at low wages and under unhealthy conditions.

4. Ethics as Good Business
Code of ethics helps businesses police themselves.
Certain professions have their own code of ethics.
Doctors, lawyers, teachers, and journalist.
Unethical business practices:
Lying, offering substandard products, treating customers or employees unfairly.

5. Conflict of Interest
Conflict of Interest: a conflict between self-interest and professional obligation.
Suppose a manager hires their sister to do some work but she is clearly unqualified to do the job. Is this a conflict of interest? Why?
When making business decisions, employees have an ethical obligation to act in the best interest of the company.

6. Ethical Decision Making Process
5 steps to helping you make an ethical decision:
Identify the ethical dilemma
Discover alternative actions
Decide who might be affected
List the probable effects of the alternatives
Select the best alternative.

7. Homework Ch. 4 Definitions-Packet Review the questions on page 58, 1-3
Complete the Chapter 4-1 Reading Activity and Graphic Organizer