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In-Class Overheads

Ethics. An individual's personal beliefs about whether a behavior, action or decision is right or wrong.. Ethical/Unethical Behavior. Does the behavior conform to generally accepted social norms.. Two General Types of Ethical Problems in Business. Problem Type A: The Acute DilemmaProblems of ethic

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In-Class Overheads

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    1. In-Class Overheads Week #5

    2. Ethics An individual’s personal beliefs about whether a behavior, action or decision is right or wrong.

    3. Ethical/Unethical Behavior Does the behavior conform to generally accepted social norms.

    4. Two General Types of Ethical Problems in Business Problem Type A: The Acute Dilemma Problems of ethical uncertainty; what constitutes right and wrong Problem Type B: The Acute Rationalization Failures where a manager knows what is right and wrong, but fails to do the right thing

    5. Areas of Special Concern for Managers How an organization treats its employees How employees treat the organization How employees and the organization treat other economic agents.

    6. Framework for Moral Decision Making The Utilitarian Approach What are the benefits and harms of each course of action? Which alternative will lead to best overall consequences? Balance good v. evil More will be helped than hurt by the action

    7. Framework for Moral Decision Making The Rights Approach The right to truth The right to privacy The right not to be injured The right to what is agreed Which course of action respects these rights?

    8. Framework for Moral Decision Making The Fairness or Justice Approach Equals should be treated equally and unequals unequally. Does not show favoritism or discrimination Must be a morally justifiable reason to treat people differently.

    9. A Framework for Moral Decision Making The Common-Good Approach Society is viewed as a community Individuals are joined in shared pursuit of values and goals they hold common Certain general consideration are to everyone’s advantage Which course of action advances the common good?

    10. A Framework for Moral Decision Making The Virtue Approach There are certain ideals toward which we should strive. A virtuous person will be disposed to act in ways consistent with moral principles Examples: Honesty, courage, compassion, generosity, fidelity, integrity, fairness, self-control, prudence. Which action develops moral virtues?

    11. Ethics and the Law Law codifies only that part of ethics which society feels so strongly about that it is willing to support it with physical force. Combinations: Legal and Ethical Legal, but Unethical Illegal, but Ethical Illegal and Unethical

    12. Quasi-Legal Certain practices can be condemned at the extreme, but may be tolerated in moderation. Example When does gift-giving become commercial bribery?

    13. Social Responsibility The impact of the organization on the Natural Environment General Social Welfare Organizational Constituents

    14. Approaches to Social Responsibility Social Obstruction – obstructionist stance Social Obligation – defensive stance Social Response - accommodative stance Social Contribution – proactive stance

    15. Social Responsibility The set of obligations an organization has to protect and enhance in the societal context in which it functions.

    16. Arguments For/Against Social Responsibility For Business creates problems and should therefore, help solve them. Corporations are citizens of our society. Business has resources necessary to solve problems Business is a partner in our society, along with government and general population Against Purpose of business is to generate profits for owners. Involvement gives business too much power. Potential for conflict of interest Business lack expertise to manage social problems.

    17. Codes of Conduct Reasons for: Federal Corporate Sentencing Guidelines (1991) Society’s expectations Mix of cultures in business environment New organizational forms Codes may have little or no affect on ethical behavior.

    18. Pressures that Lead to Questionable Practices Overemphasis on Performance Intensity of Competition Expediency and Indifference Custom The Groupthink Mentality

    19. Thoughts on Why People are Cheating More Often Fiscal policy encourages immoral economic behavior Widening gap between rich and poor Overemphasis on material values Penalties for wrong-doing are negligible Little moral censure

    20. A Matter of Ethics Company leaders set tone Must maintain honesty & integrity Put it in writing There is a Ripple Effect Put integrity first A way of life

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