Presentation on theme: "What is Ethics? ours Text: The mechanism of rules the governs the ordering of values. The Handout: the rules or standards which govern the conduct of a person."— Presentation transcript:




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1 What is Ethics? our Text: The mechanism of rules that governs the bespeak of values. The Handout: the rule or standards which govern the conduct of a human or a group. Others: the principles and standards of moral habits that are welcomed by society as ideal or an excellent (as apposed to wrong or bad).

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2 What is Ethical habits (as used to business)?Competing fairly and Honestly interacting Truthfully not Causing injury to others

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3 What is social ResponsibilityThe idea that service has details obligations to culture beyond the quest of profits—developed at an early stage in the 20th century.

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4 Ch. 5 synopsis (Not from Text)1. Principles in the rectal 2. Social duty in company 3. Business’s efforts to rise Social duty 4. Ethics and (Corporate) society Responsibility approximately the people

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5 What is moral Behavior?Competing relatively and Honestly communicating Truthfully not Harming rather In business, as well as obeying every laws and also regulations, practicing good ethics way competing relatively and honestly, connecting truthfully, and not causing damage to others. Businesses space expected to compete relatively and honestly and also not intended deceive, intimidate, or misrepresent customers, competitors, clients, or employees. While most companies complete within the limits of the law, some perform knowingly break laws or take it questionable steps in your zeal to maximize profits and gain a competitive advantage. Place one’s an individual welfare above the welfare that the organization can reason harm to others. For instance, yearly tens the thousands of human being are the victims of investment scams. Insider trade is illegal and is carefully checked by the Securities and also Exchange commission (SEC). Another way that businesspeople can damage others is through getting affiliated in a dispute of interest situation. A problem of attention exists when selecting a food of activity will advantage one who interests at the price of another or as soon as an individual chooses a food of activity that advancements his or her an individual interests over those of his or she employer.

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6 Factors Influencing moral BehaviorCultural distinctions Knowledge Organizational behavior Legislation return a variety of factors influence the ethical behavior of businesspeople, four in specific appear to have the many impact: cultural differences, knowledge, business behavior, and legislation. Globalization exposes businesspeople to a selection of various cultures and business practices. What go it median for a company to execute the ideal thing in Thailand? In Africa? In Norway? What may be thought about unethical in the joined States may be an welcomed practice in one more culture. In most cases, a well-informed human being is in a place to make far better decisions and also avoid moral problems. Making decision without all the facts or a clear knowledge of the results could harm employees, customers, the company, and other stakeholders. The structure of one ethical company climate is honest awareness. Establishments that strong enforce agency codes of conduct and carry out ethics training help employees recognize and reason through moral problems. Similarly, suppliers with strong ethical practices collection a good example for employees to follow. Top top the various other hand, service providers that commit unethical plot in the course of doing organization open the door for employees to follow suit. Recent government legislation is one more factor. A 2002 corporate accountability bill signed through President bush set new standards for prosecuting wrongdoers, gave corporate whistleblowers broad brand-new protections, and created an elevation regulatory plank to oversee the bookkeeping industry. It additionally required corporate executives come certify their companies’ jae won statements and set brand-new penalties because that securities fraud and file shredding.

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7 Ethical Dilemma vs. Ethical LapseEthical dilemma – a situation in which one have to choose between two conflicting however arguably valid sides. Moral lapse – a instance in which an individual renders a decision the is plainly wrong, such together divulging trade keys to a competitor.

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8 Social responsibility in BusinessEarly 20th Century middle 20th Century early on 21st Century Social responsibility is a concept with decades-old roots. In the nineteenth and also early twenty centuries, the prevailing view among U.S. Industrialists was that company had only one responsibility: to do a profit. Caveat emptor was the dominance of the day—"Let the buyer beware." If friend bought a product, you paid the price and took the consequences. No customer groups or federal government agencies would assist you if the product to be defective or caused harm. In the mid-twentieth century, Milton Friedman’s check out of a company’s responsibility toward society was representative and remained prominent for countless years: “There is just one social responsibility of business,” claimed Friedman. “To usage its resources and also engage in tasks designed to rise its revenues so lengthy as it stays within the rule of the game, which is come say, engages in open and cost-free competition there is no deception or fraud.” together he witnessed it, the only social obligation of business was to provide jobs and also pay taxes. Numerous investors and also managers now support a wider view of social responsibility. Lock argue the a company has an responsibility to culture beyond the quest of profits and also that becoming more socially responsible have the right to actually improve a that company profits. Maximize Profits provide Jobs and Pay taxes Balance Profits and Social issues

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9 Balancing Business and Stakeholders’ RightsInvestors consumers Employees culture Profits fair Disclosure notified Purchase Equity wellness & safety and security Clean environment Exactly how much have the right to businesses add to social concerns? This is a an overwhelming decision for many companies because they have limited resources. They must allocate their resources to a number of goals, such together upgrading facilities and equipment, developing new products, marketing present products, and profitable employee efforts, in enhancement to contributing to social causes. This juggling plot is a challenge that every organization faces. Because that example, if a company consistently ignores that stakeholders, its company will suffer and eventually fold. If the firm disregards society"s demands (such as eco-friendly concerns), voters will clamor for regulations to border the offensive organization activities, consumers who feel their needs and also values room being ignored will spend their money top top a competitor"s products, investors who space unhappy with the company"s performance will certainly invest elsewhere, and employees whose requirements are no met will become unproductive or will certainly quit and also find various other jobs. Together this slide shows, stakeholders" demands sometimes conflict. In such cases, i beg your pardon stakeholders need to be offered first—society, consumers, investors, or employees? Safe assets Product selection

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10 Responsibility toward ConsumersThe right to Safe assets The appropriate to Be informed The 1960s activism the awakened organization to its environmental responsibilities also gave rise to consumerism, a activity that put push on companies to take into consideration consumer needs and also interests. Consumerism prompted countless businesses to develop consumer-affairs department to manage customer complaints. It likewise prompted state and local agencies to collection up bureaus to offer customer information and assistance. At the commonwealth level, President man F. Kennedy announced a "bill the rights" because that consumers, laying the foundation for a wave of consumer-oriented legislation. These rights include the appropriate to for sure products, the right to be informed, the appropriate to choose, and also the appropriate to it is in heard. The appropriate to selection The best to it is in Heard

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11 Responsibility towards EmployeesEqual Employment opportunity Affirmative action Americans through Disabilities Act work-related Health and Safety For some companies, the past 30 year have lugged dramatic transforms in the attitudes and also composition the the workforce. These changes have compelled businesses come modify their recruiting, training, and promotion practices, and also their overall corporate values and behaviors. The Civil legal rights Act that 1964 developed the same Employment chance Commission (EEOC)—the regulatory company that battles project discrimination. The Civil rights Act the 1991 extended the initial act by enabling workers come sue companies for discrimination and also by approving women powerful legal tools against job bias. In the 1960s, affirmative action programs were emerged to encourage establishments to recruit and also promote members of decimal groups. In addition to affirmative action programs, about 75 percent that U.S. Carriers have created diversity initiatives. In 1990 world with a wide selection of physical and mental difficulties got a boost from the passage of the federal Americans v Disabilities plot (ADA), which assures equal methods for an estimated 50 million to 75 million people who have or have had a problem that could handicap them.

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Throughout the activist 1960s, mounting concern about workplace hazards led to passage that the job-related Safety and also Health plot of 1970, which collection mandatory standards for safety and also health and also which established the work Safety and Health management (OSHA) come enforce them.

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12 Equality in Employment and also The removed of DiscriminationCivil civil liberties Act that 1964 Civil civil liberties Act of 1991 Affirmative activity Diversity initiatives American Disabilities plot of 1990

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