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Science
Set
Character of a man
Decided by
Conduct of a person
Leads to
Series of Actions
Requires
Studies human behavior and makes evaluative assessment about them as moral or immoral Establishes moral standards and norms of behavior Makes judgment upon human behavior based on these standards and norms Prescribes moral behavior and makes recommendations about how to or how not to behave
comprises According
principles and standards that guide behavior in the world of business to John Donaldson Business Ethics can be described as the systematic study of moral (ethical) matters pertaining to business, industry or related activities, institutions, or practices and beliefs. It is the systematic handling of values in business and industry.
Unitarian View: Business & morality cannot be separated and it must play by the rules of ethics of the community.
Moral Structure
Business
Moral Ethics
Proposed
by Adam Smith and Milton Friedman: Business is a distinct entity and does not include ethics and morality
Business
Ethics
Business
Market Systems
Business Ethics
Society
When business people speak about business ethics they usually mean one of three things: 1. Avoid breaking the criminal law in ones work related activity 2. Avoid action that may result in civil law suits against the company 3. Avoid actions that are bad for the company image
Businesses are especially concerned with these three things since they involve loss of money and company reputation.
Laws and moral standards overlap to a certain extent Law represents a minimum set of standards for producing a desired human behaviour Ethics often represents a standard that exceeds the legal minimum
Frequent Overlap
Ethics
Law
lying and withholding needed information abusive or intimidating behavior misreporting time worked discrimination and sexual harassment stealing breaking environmental and safety laws falsifying records drug or alcohol abuse
Business
is a subsystem of society
all stakeholders concerned
Empowers Reduction
in cost of friction with social environment Important for organizations leaders because they influence the ethical climate for the rest.
Personal gain
Individual values widely differ with organizational goals
Fellow Workers
Culture
Regions of Country
Family
Profession
The Individual
Conscience Friends Employer
The Law
Religious Beliefs
Society at Large
Ethics
Training
Whistle-Blowing
The reporting of perceived unethical matters. Reducing the fear of retaliation against whistleblowers
Anonymous hotlines and web sites Personal, confidential guidance
Ethical
Advocate
An ethics specialist who plays a role of critical questioner in top-managements decision-making. Serves as the Board of directors social conscience. Helps prevent groupthink and blind conformity
Code
of Ethics
Published statement of moral expectations for employee conduct Requirements for an effective ethics code
Must describe specific practices as unethical (e.g., kickbacks, payoffs, gifts, falsification of records, and misleading product claims). Must be firmly supported and fairly enforced by top management.