Business Ethics. Approaches to Business Ethics Company and its Responsibility to Society. The Meaning of Business Ethics. Ethics is a discipline that examines good or bad practices within the context of a moral duty Moral conduct is behaviour that is right or wrong
Approaches to Business Ethics
Company and its Responsibility to Society
Ethics is a discipline that examines good or bad practices within the context of a moral duty
Moral conduct is behaviour that is right or wrong
Business ethics includes practices that are good or bad
Two Key Branches of Ethics
The concept of Business Ethics has come to mean various things to various people, but in general it is coming to be aware of what is right or wrong in the workplace and doing what is right in regard of effects of products or services and in relationships with stakeholders.
Law often represents an ethical minimum
Ethics often represents a standard that exceeds the legal minimum
What ought to be?
How to get from what is to what to be?
What is our motivation to acting ethically?
means conducting all aspects of business and dealing with all stakeholders in an ethical manner.
From the perspective of an individual you can explore what constitutes a fair exchange.
You can explore the ethical behaviour of corporations.
You can ask about the role of business within society as a whole.
You can ask the most general ethical questions about business and the markets.
The environmental influences that affect a company’s performance:
might do - market opportunity
can do - corporate competence and resources
want to do - personal values and aspirations
ought to do - obligations to society other than stockholders
The local community
The areas which are significant for a company’s improvement:
The review of the quality of top management improvement
The impact of the control systems upon individuals
The recognition of the role of individual within the corporation
is the obligation a business assumes toward society
is designed to maximize the positive influence & minimize the negative
includes economic, legal, ethical, and philanthropic dimensions
A socially responsible business provides goods and services in line with a society’s values. Socially responsible businesses are concerned about how customers are protected and how employees are treated.
equal employment opportunity for all citizens regardless of their race, religion or sex
respect of the employees’ diversity, safety, and health in the workplace
assurance and full disclosure on the quality of products and services
to be safe
to be informed
to be heard
The right to be safe
The right to be informed
The right to choose
The right to be heard
Equal employment opportunity for all citizens
Respect for employee diversity
Quality of life issues
Business Ethics Scenarios
by Jim Balassone
A supplier sends a basket of expensive foodstuffs to your home at Christmas with a card: "We hope you and your family enjoy the 'goodies.'". What action(s) might you want to take?
A large, prospective client calls you and asks about a competitor's reputation. One of your long time customers had a very bad experience with this competitor. What information do you share with the prospect? How do you respond to the prospect call?
As department manager, you are hosting an informal celebration in the office. The food budget is $200. Your next door neighbourhas just started her own catering business and asks to supply the food. Since she is just starting out, she'll do it at cost and provide extra items at no charge. What might you want to consider?