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Maria Shailryne Maunahan

BSBM401

GOODGOV

MTh 8:30-10:00am

ETHICS
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A conception of right and wrong conduct

ETHICS PRINCIPLE
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Guides to moral behavior

BUSINESS ETHICS
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Application of general ethical ideas to business behavior

5 KEY REASONS WHY BUSINESS SHOULD BE ETHICAL


1.
2.
3.
4.
5.

To meet demands of business stakeholders


To enhance business performance
To comply with legal requirements
To prevent or minimize harm
To promote personal morality

CORE ELEMENTS OF ETHICAL CHARACTER

Managers Value
Managers values set the ethical tone for the company
Corporate scandals have led to a crisis of confidence in business leadership
Virtue Ethics
Posits that a person with good character traits will use these values to show good behavior
Personal Spirituality
Personal belief in a supreme being, religious organization, power of nature or some other lifeguiding force

WHISTLEBLOWING
-

The disclosure by a person, usually an employee in a government agency or private enterprise, to


the public or to those inauthority, of mismanagement, corruption, illegality, or some other wrong
doing.
A whistleblower (also whistle-blower) is a person who exposes any kind of information or
activity that is deemed illegal, unethical, or not correct within an organization that is either
private or public.

EBOL, Kassandra M.

BSBM 401

GOODGOV

MTh 8.30-10.00am

ETHICS
-

A conception of right and wrong conduct


moral principles that govern a person's or group's behavior
the branch of knowledge that deals with moral principles

ETHICS PRINCIPLE
-

Guides to moral behavior


Ethical principles provide a generalized framework within which particular ethical dilemmas
may be analyzed; these principles can provide guidance in resolving ethical issues that codes of
ethics may not necessarily provide.
What follows are definitions of five ethical principles that have been applied within a number of
professions (Beauchamp & Childress, 1979):

1. Respecting autonomy
The individual has the right to act as a free agent. That is, human beings are free to decide how
they live their lives as long as their decisions do not negatively impact the lives of others. Human
beings also have the right to exercise freedom of thought or choice.
2. Doing no harm (Nonmaleficence)
Our interactions with people (within the helping professions or otherwise) should not harm
others. We should not engage in any activities that run the risk of harming others.
3. Benefiting others (Beneficence)
Our actions should actively promote the health and well-being of others.
4. Being just (Justice)
In the broadest sense of the word, this means being fair. This is especially the case when the
rights of one individual or group are balanced against another. Being just, however, assumes
three standards. They are impartiality, equality, and reciprocity (based on the golden rule: treat
others as you wish to be treated).
5. Being faithful (Fidelity)
Being faithful involves loyalty, truthfulness, promise keeping, and respect. This principle is
related to the treatment of autonomous people. Failure to remain faithful in dealing with others
denies individuals the full opportunity to exercise free choice in a relationship, therefore limiting
their autonomy.
BUSINESS ETHICS
-

Application of general ethical ideas to business behavior

Business ethics is the study of proper business policies and practices regarding potentially
controversial issues, such as corporate governance, insider trading, bribery,
discrimination, corporate social responsibility and fiduciary responsibilities. Law often guides
business ethics, while other times business ethics provide a basic framework that businesses may
choose to follow to gain public acceptance.
Business ethics ensure that a certain required level of trust exists between consumers and various
forms of market participants with businesses. For example, a portfolio manager must give the same
consideration to the portfolios of family members and small individual investors. Such practices
ensure that the public receives fair treatment.
The concept of business ethics arose in the 1960s as companies became more aware of a rising
consumer-based society that showed concerns regarding the environment, social causes and
corporate responsibility. Business ethics goes beyond just a moral code of right and wrong; it
attempts to reconcile what companies must do legally versus maintaining a competitive
advantage over other businesses. Firms display business ethics in several ways.

5 KEY REASONS WHY BUSINESS SHOULD BE ETHICAL


1. To meet demands of business stakeholders
Employee want demand their company to be socially responsible.
2. To enhance business performance
Consumers expect better business practices (and will pay for it).
3. To comply with legal requirements
It creates competitive immunity (and makes your business more sustainable in the long-term
4. To prevent or minimize harm
Capitalism is evolving, and society is, too.
Hareed predicts that We will see the emergence of a fourth sector of the economy, interacting
with but separate from governments, nonprofits, and for-profit businesses. The rise of that sector
is likely to reshape the future of capitalism.
As the market evolves to support these for-benefit enterprises, early-movers and leaders have the
most to gain from this shifting system. In other words, the sooner companies shift to being
socially responsible, the more successful they will be in the future.
5. To promote personal morality

It is a moral imperative.
Since businesses have the greatest potential to improve the health of our planet and citizens, as
they become prosperous, they have a moral obligation to improve the conditions of a system that
has helped them succeed.

CORE ELEMENTS OF ETHICAL CHARACTER


Managers Value
- Managers values set the ethical tone for the company
Trustworthiness
Respect for others
Responsibility
Caring
Citizenship
- Corporate scandals have led to a crisis of confidence in business leadership
Virtue Ethics
- Posits that a person with good character traits will use these values to show good behavior
Personal Spirituality
- Personal belief in a supreme being, religious organization, power of nature or some other lifeguiding force

WHISTLEBLOWING
-

The disclosure by a person, usually an employee in a government agency or private enterprise, to


the public or to those inauthority, of mismanagement, corruption, illegality, or some other wrong
doing.
A whistleblower (also whistle-blower) is a person who exposes any kind of information or
activity that is deemed illegal, unethical, or not correct within an organization that is either
private or public.