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 ETHICS AND
CORPORATE SOCIAL
RESPONSIBILITY
FOR BUSINESS
 Ethics definition
 Ethics is the philosophical study
of good and bad, right and wrong.
Ethics is concerned with morality
and is often called “moral
philosophy”.
Business Ethics
◦The standards of conduct and moral
values governing actions and decisions
in the work environment.
Why is Business
Ethics important
to a Company? Investors
Employees
Customers

- Has the ability to attract and keep

investors, employees and customers
Investors
- Allows investors peace of mind that their money is being used
in a way that aligns with their own moral standing.

Employees
- Employees are comfortable in the knowledge that they are not
by their own action or inaction allowing unethical practices to
continue.

Customers
- Customers are at ease buying products or services from a
company they know to source their materials and labour in an
ethical and responsible way.
How Organizations Shape Ethical
Conduct
Ethical Awareness
Code of Conduct Formal statement that defines how the organization
expects and requires employees to resolve ethical questions.

Ethical Reasoning
Codes of conduct cannot detail a solution for every ethical situation,
so corporations provide training in ethical reasoning.
How Organizations Shape Ethical
Conduct
Ethical Action
Helping employees recognize and reason through ethical
problems and turning them into ethical actions.

Ethical Leadership
Executives must demonstrate ethical behavior in their
actions.
 General
Employees
ACTING Public

RESPONSIBLY
TO SATISFY
SOCIETY Investors and
Financial Customers
Community
Teleological
theories
(John Stuart Mill)

- Focus on the
consequences of a
decision
 Moral conduct ought to be judged
through SELF-INTEREST

Ex. leader takes a political stand on an issue for

no other reason than to get re-elected
 Focuses in the idea of the GREATEST
GOOD for GREATEST NUMBER

Ex. leader distributes scarce resources so as to maximize benefit

to everyone, while hurting the fewest; preventive healthcare vs.
catastrophic illnesses
Deontology
theories (Immanuel
Kant)
-Focus on the actions of
the leader and his/her
moral obligation and
responsibilities to do the
right thing
- report\Ethics Defined- Deontology.mp4
Honesty,
courage,
compassion,
generosity,
fidelity,
integrity,
fairness, self-
control,and pru
dence
RATIONALIZIN
G UNETHICAL
BEHAVIOR
 Unethical Rationalizations
◦ The Golden Rationalization, or “Everybody does it”
◦ Ethics Estoppel, or “They’re Just as Bad”
◦ Consequentialism, or “It Worked Out for the Best“
◦ Marion Barry’s Misdirection, or “If it isn’t illegal, it’s ethical.”
◦ The Compliance Dodge.
◦ The “Tit for Tat” Excuse
◦ The Trivial Trap or “No harm no foul!” (The Slippery Slope)
◦ The Reverse Slippery Slope
◦ The King’s Pass, The Star Syndrome, or “What Will We Do Without
Him?”
◦ The Dissonance Drag
◦ The Saint’s Excuse: “It’s for a good cause”
◦ Self-validating Virtue
◦ Hamm’s Excuse, or “It wasn’t my fault.”
◦ The Perfection Diversion, or “Nobody’s Perfect!” and “Everybody makes
mistakes!”
◦ Ethics Accounting (“I’ve earned this”/ “I made up for that”)
◦ The Coercion Myth: “I have no choice!”
◦ The Altruistic Switcheroo: “It’s for his own good”
◦ The Prospective Repeal: “It’s a bad law/stupid rule”
◦ The Troublesome Luxury: “Ethics is a luxury we can’t afford right now”
◦ The Unethical Role Model: “He/She would have done the same thing”
◦ Tessio’s Excuse, or “It’s just business”
◦ The Joke Excuse, or “I was only kidding!”
◦ The Ironic Rationalization, or “It’s The Right Thing To Do”
◦ The Volunteer’s Dodge, Or “You Don’t Pay Me Enough To Be Ethical! “
ARGUMENTS FOR AND AGAINST
BUSINESS ETHICS
 ARGUMENTS FOR BUSINESS ETHICS
• Holistic Approach
• Leadership
• Employee Commitment
• Investor loyalty
• Customer satisfaction
• Business is a co-operative effort
• Higher profits
• Changing mindset of shareholders
 ARGUMENTS AGAINST BUSINESS
ETHICS

• Milton Friedman Argument

• Argument from Incentives
• Gut feeling argument
• Moral Development Argument
• The Motivational Argument