Historic Perspective From Industrial Revolution

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UNIT THREE



Ethical Frameworks

Two general categories of reasoning used to solve

ethical dilemmas -- deontology and utilitarianism

Arguments and decisions can be made by using either

or a combination of both



Deontology Value-based

Using personal or individual beliefs of right and wrong to

solve an ethical dilemma

Follows the logic that people ought to do what they believe

is right, and refrain from doing what they believe is wrong

Does not take consequences or long-term outcomes into

account



Islamic Model of Business Ethics

Islam &

Busines

s Ethics

GoodConduct

Truthfulness

Honesty

Trustwor thiness

Humbleness &

Humility

Integrity



Utilitarianism Outcome-based

Using the potential outcome of an action to solve and

ethical dilemma

Follows the logic that people ought to base their

decisions on the action that will result in the greatestgood for the greatest number

Does not take personal beliefs or values into account



Levels of Business Ethics

Individual

Organizational

ssociation

Societal

International

International

Societal

ssociation

Organizational

Individual



Business

Employee-Employer Relations

Employer-Employee Relations

Company-Customer Relations

Company-Shareholder Relations

Company-Community/Public Interest



Business Ethics: What Does It

Really Mean?Two Key Branches of Ethics

Descriptive ethics involves describing, characterizing

and studying morality

“What is”

Normative ethics involves supplying and justifying

moral systems

“What should be”



Sources of Ethical Norms

Societal Beliefs

Family

Friends

The Law

Regions of

Country

Profession

Employer

Society at Large

Fellow

Workers

Religious

Beliefs

The Individual

Conscience



Four Important Ethical Questions What is?

What ought to be?

How to we get from what is to what ought to be?

What is our motivation for acting ethically?



Business Ethics Myths

1. Business ethics is more a matter of religion than management

2. Our employees are ethical so we don’t need attention to business

ethics3. Business ethics is a discipline best led by philosophers, academics

and theologians

4. Business ethics is superfluous — it only asserts the obvious: “dogood!

5. Business ethics is a matter of the good guys preaching to the bad

guys



Business Ethics Myths (Contd’) 6. Business ethics in the new policeperson on the block

7. Ethics can’t be managed

8. Business ethics and social responsibility are the samething

9. Our organization is not in trouble with the law, so we’re

ethical10. Managing ethics in the workplace has little practical

relevance



Conclusion

“There are always those who think they know what is

your responsibility, better than you do”

-- Ralph Waldo Emerson

Historic Perspective From Industrial Revolution

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