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Business Ethics
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What is ethics?
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What is ethics?
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Ethics is not this:
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Business ethics
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Why study Business Ethics?
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Why study business ethics?
Reports of unethical behavior are on the rise.
Society’s evaluation of right or wrong affects its
ability to achieve its business goals.
Studying business ethics is a response to FSGO
and stakeholder demands for ethics initiatives.
Individual ethics is not enough.
Studying business ethics helps identify ethical
issues to key stakeholders.
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Why study business ethics
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Why care about ethics?
Unethical behavior creates financial and marketing risks.
A company can go out of business, and its employees can go to jail, if no one
is paying attention to the ethical standards of the firm.
Consumer boycotts give even the most skeptical business leader reason to
pay attention to ethics.
Trust, loyalty, commitment, creativity, and initiative are just some of the
organizational benefits that are more likely to flourish within ethically stable
and credible organizations
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Ethical Issues on the Rise
Increased awareness of:
– Accounting fraud
– Insider trading of stocks and bonds
– Falsifying of organizational documents
– Deceptive advertising
– Defective products
– Bribery
– Employee theft
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A Timeline of Ethical and Socially
Responsible Concerns
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The result from unethical behavior
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ETHICS SCENARIO
People who come to work 20-30 minutes late, take an extra 30 minutes at
lunch and then leave 20 minutes early any time they think they can get
away with it.
People who drag out a project, look for every reason to not do it, turn in
shoddy work and then complain that they didn't get a bonus.
People that spend their day surfing the net for fun instead of doing the
R&D they're supposed to.
People who use other people's computers or common area PCs to surf
the net because they think it can't be traced back to them.
People that won't control costs and say "Why are you so worried, it's not
coming out of your pocket?"
People who won't control costs and say "It's a government contract." I'm
a supervisor. I see people trying to sleeze their way through the day
every day. Excuse me, I have to go fire someone.
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ETHICS SCENARIO
Ethics Discussion:
Rachel works in a real estate office that is equipped with up-
to-date copiers, scanners, and printers. She is frequently the
only employee working in the evenings and often has spare
time to do personal work. She has begun to use the office
equipment for her children's school reports and for her
husband's business. Do you think Rachel's use of the office
equipment is harmless, or is she behaving unethically?
Why? If you believe her behavior is unethical, what controls
could be in place to prevent it? Have you ever used office
resources for personal tasks? Under what conditions could
such use of office resources be justified?
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ETHICS SCENARIO
Ans:
Most copiers have a counter feature on them. You could
write down the number on the counter at the end of the
"day" shift and then again in the morning. Once you
establish a pattern of how many copies are made when she
is there you would have some ammunition to question her.
And yes, her behavior is unethical. That's not to say that
most companies don't expect a few personal copies here
and there, but if she is using equipment extensively and
especially for her husband's business, that is clearly
unethical
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Ethical issues/dilemma arise at
different levels
Ethical dilemma – problem or issue that confronts a
person, group or organisation and that requires a
decision or choice among competing claims and
interest.
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Ethical issues/dilemma arise at
different levels
Organisational level – issues faced in your role
as managers or employees.
Carry consequences for company’s reputation
and success in community and determine the
kind of ethical environment or culture that will
prevail on a day-to-day basis at the office.
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Ethical issues/dilemma arise at
different levels
Industry of profession level
Eg. Stock brokerage, real estate, insurance,
financial services, accounting, journalism
Business ethics
Good business is relative
means good ethics
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Myths about business ethics
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Myths about business ethics
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Myths about business ethics
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Con’t….
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The End
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