Ethical behavior
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Ethical Behavior. Ethics Defined. Set of moral standards for judging whether something is right or wrong Philosophical approaches: Utilitarianism – greatest good for most Individual rights Justice -- consideration of fairness. Why Focus on Ethics?. Customers Expect and Demand Ethics

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Presentation Transcript

Ethics defined
Ethics Defined

  • Set of moral standards for judging whether something is right or wrong

  • Philosophical approaches:

    • Utilitarianism – greatest good for most

    • Individual rights

    • Justice -- consideration of fairness


Why focus on ethics
Why Focus on Ethics?

  • Customers Expect and Demand Ethics

    - Customers Repulsed and Turn From Businesses They View As Unethical

    - Ethics/Trust Foundation of Business

  • Good Ethics Improves the Work Climate

    - Employees Know Expectations / Respect and Support

  • Empowered Workers Need Guidelines


Whom must we treat ethically?

  • Customers

  • Suppliers

  • Distributors

  • Investors

  • Creditors

  • Employees

  • Public


Traditional view of economic transactions
Traditional View of Economic Transactions

  • The agent in any principal/agent relationship can not be trusted.

  • Identifying ethical and trustworthy agents is extremely difficult.

  • Organizations must structure themselves as if all agents can not be trusted.

  • Thus, substitutes for trust and ethical conduct are necessary.


Current business trends

Total Quality Management

Just-in-Time Inventory Systems

Relationship Marketing

Empowerment of Employees

Corporate Downsizing

International/global Organizations

Flatter Organizational Structures

Current Business Trends


Some questions regarding ethical conduct
Some Questions Regarding Ethical Conduct

  • Is acting ethically altruistic or self-serving?

  • What is the relationship between ethics and law?

  • Can an unethical business organization be successful?

  • If everyone could be trusted to act ethically, how would the role of the legal profession change?


Ethical behavior1
Ethical Behavior

  • Martha Stewart/ImClone scandal alleging insider trading

  • WorldCom investigated for financial misstatements over $3.8 billion

  • Enron

  • Arthur Anderson

  • Dynergy

  • Tyco

  • Merrill Lynch


Unethical practices in marketing
Unethical Practices in Marketing

  • Entertainment & gift giving

  • False or misleading advertising

  • Misrepresentation of goods, services or corporate capabilities

  • Falsifying information

  • Exploitation of children or other groups

  • Invasion of privacy

  • Sex appeals in advertising

  • Unsafe products

  • Price discrimination


Ethical guidelines corporate social responsibility
Ethical Guidelines & Corporate Social Responsibility

  • Code of ethics

    • guidelines to help managers and other employees make better decisions

    • Research findings:

      • 60% companies responding maintain ethics code

      • 33% offer ethical behavior training

      • 33% employ an ethics officer

  • Corporate social responsibility


How ethical are you
How Ethical Are You?

  • Take the ethics quiz:

    • http://www.worldbank.org/wbi/corpgov/eastasia/m5/m5selftest.htm


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