© 2015 Cengage Learning1. Chapter 7 Business Ethics Fundamentals © 2015 Cengage Learning2.
Business Ethics Fundamentals
-
Upload
wang-summers -
Category
Documents
-
view
46 -
download
0
description
Transcript of Business Ethics Fundamentals
![Page 1: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/1.jpg)
1
Business Ethics Fundamentals
1
![Page 2: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/2.jpg)
2
Ethical Dilemma
Ethics
Law
grey area
![Page 3: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/3.jpg)
3
Asking Key Questions
1. What are my core values and beliefs?2. What are the core values and beliefs of my
organization?3. Whose values, beliefs and interests may be at
risk in this decision, and Why?4. Who will be harmed or helped by my decision
or the decision of the organization?5. How will I, and my organization be affected by
the decision?
![Page 4: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/4.jpg)
4
Why use Ethical reasoning in business?
1. Many times laws do not cover all aspects or “grey areas” of a problem– EXAMPLES
2. Free-market and regulated-market mechanisms do not inform owners/ managers how to respond to far reaching ethical consequences.– EXAMPLES
3. Many complex moral problems require an “intuitive/ learned understanding of fairness, justice to the community.– EXAMPLES
![Page 5: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/5.jpg)
5
Inventory of Ethical Issues in Business
• Employer-Employee Relations• Company-Customer Relations• Company-Shareholder Relations• Company-Community/Public Interest
![Page 6: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/6.jpg)
6
Business Ethics: What Does It Really Mean?E
x pe c
ted
a nd
Ac t
u al L
e ve l
sof
Bus
ines
s E
thic
s
Ethical Problem
Ethical Problem
Society’s Expectations of Business Ethics
Actual Business Ethics
1950s Early 2000sTime
Business Ethics:Today vs. Earlier Period
![Page 7: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/7.jpg)
7
Business Ethics: What Does It Really Mean?
Definitions• Ethics involves a discipline that examines good
or bad practices within the context of a moral duty
• Moral conduct is behavior that is right or wrong
• Business ethics include practices and behaviors that are good or bad
![Page 8: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/8.jpg)
8
Business Ethics: What Does It Really Mean?
Two Key Branches of Ethics• Descriptive ethics – How people behave and what sort of moral
standards they claim to follow. “What is” true and factual.
• Normative ethics involves supplying and justifying moral systems– “What should be”
![Page 9: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/9.jpg)
9
Conventional Approach to Business Ethics
• Conventional approach to business ethics involves a comparison of a decision or practice to prevailing societal norms– Pitfall: ethical relativism
Decision or Practice Prevailing Norms
![Page 10: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/10.jpg)
10
Sources of Ethical Norms
Fellow Workers
Family
Friends
The Law
Regions of Country
Profession
Employer
Society at Large
Fellow Workers
Religious Beliefs
The Individual
Conscience
![Page 11: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/11.jpg)
Ethics, Economics, and Law
6-14
![Page 12: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/12.jpg)
12
Four Important Ethical Questions
• What is?• What ought to be?• How do we get from what is to what ought to
be?• What is our motivation for acting ethically?
![Page 13: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/13.jpg)
13
3 Models of Management Ethics
1. Immoral Management—A style devoid of ethical principles and active opposition to what is ethical.
2. Moral Management—Conforms to high standards of ethical behavior.
3. Amoral Management– Intentional - does not consider ethical factors– Unintentional - casual or careless about ethical
considerations in business
![Page 14: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/14.jpg)
14
3 Models of Management Ethics
Three Types Of Management Ethics
![Page 15: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/15.jpg)
Three Approaches to Management Ethics
6-18
![Page 16: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/16.jpg)
Moral Management Models and Acceptable Stakeholder Thinking
6-20
![Page 17: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/17.jpg)
Developing Moral Judgment
6-22
![Page 18: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/18.jpg)
Developing Moral Judgment
6-23
![Page 19: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/19.jpg)
19
Developing Moral Judgment
External Sources of a Manager’s Values
• Religious values• Philosophical values• Cultural values• Legal values• Professional values
![Page 20: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/20.jpg)
20
Developing Moral Judgment
Internal Sources of a Manager’s Values• Respect for the authority structure• Loyalty• Conformity• Performance• Results
![Page 21: Business Ethics Fundamentals](https://reader035.fdocuments.net/reader035/viewer/2022062217/568133f9550346895d9aeca4/html5/thumbnails/21.jpg)
21
Elements of Moral Judgment
• Moral imagination• Moral identification and ordering• Moral evaluation• Tolerance of moral disagreement and
ambiguity• Integration of managerial and moral
competence• A sense of moral obligation