Business Ethics Fundamentals - Business and Society - Lecture Slides, Slides of Business and Society

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Business Ethics Fundamentals

Chapter Outline

• Business Ethics and Public Opinion
• What Does Business Ethics Mean?
• Ethics, Economics and Law: Venn Model
• Four Important Ethics Questions - Three Models of Management Ethics - Making Moral Management Actionable - Developing Moral Judgment - Elements of Moral Judgment - Summary

Introduction

Inventory of Ethical Issues in Business

• Employee-Employer Relations
• Employer-Employee Relations
• Company-Customer Relations
• Company-Shareholder Relations
• Company-Community/Public Interest

Public’s Opinion of Business Ethics

• Gallup Poll finds that only 17 percent to 20 percent of the public thought the business ethics of executives to be very high or high
• To understand public sentiment towards business ethics, ask three questions - Has business ethics really deteriorated? - Are the media reporting ethical problems more frequently and vigorously? - Are practices that once were socially acceptable no longer socially acceptable?

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

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

Fellow Workers

Family

Friends

The Law

Regions of Country

Profession

Employer

Society at Large

Fellow Workers

Religious Beliefs

The Individual Conscience

Ethics and the Law

• Law often represents an ethical minimum
• Ethics often represents a standard that

exceeds the legal minimum

Ethics Law

Frequent Overlap

Ethics, Economics, and Law

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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?

3 Models of Management Ethics

Three Types Of Management Ethics

Three Approaches to Management Ethics

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Moral Management Models and

Acceptable Stakeholder Thinking

6-

Making Moral Management Actionable

Important Factors

• Senior management
• Ethics training
• Self-analysis