Session_2_-_Cht_1R - Ethics and Business Sessions 2 Chapter...

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1 Velasquerz, M.G. cited in Heller, V.L. (2006 Velasquerz, M.G. cited in Heller, V.L. (2006 Ethics and Business Ethics and Business Sessions 2 – Chapter 1 Business Ethics Concepts and Cases, 6 th ed. By Manuel G. Velasquez Quoted or paraphrased Richard Trevisan
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 2 Session Objectives Session Objectives We will discuss what is “business ethics” Explore whether moral standards can be applied to business. Learn the five characteristics of Moral Standards
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 3 Moral Standards Moral Standards What are the five characteristics of Moral Standards?
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 4 Definition of Business Ethics Definition of Business Ethics What is it? Many ways to define it What is your definition?
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 5 Relevance to companies Relevance to companies Over the long run, and for the most part, ethical behavior gives a company significant competitive advantages over companies that are not ethical. Companies compete for the same customers They also compete for the same employees.
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 6 What about the individual? What about the individual? Is ethical behavior to the individual’s advantage? Why? Why not?
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 7 Moral Standards Moral Standards Question – Where do personal standards come from?
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 8 Ethics and its Issues Ethics and its Issues Question - What then is the meaning of the word “Ethics”
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 9 Ethics Dictionary Definitions Ethics Dictionary Definitions The principles of conduct governing an individual or a group The rules by which a person lives his or her personal life. For instance, Purchasing Ethics governing the behavior of professional purchasing people in that line of work. The study of morality.
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 10 But What is Ethics? But What is Ethics? Ethics is the discipline that examines one’s moral standards or moral standards of a society. For example, when a person takes that standards that has been assimilated from their family, church or friends and asks: what do these standards imply for dealing with this situation? Do the standards still apply. In light of the current situation, do they still apply? In essence, it is the study of right and wrong.
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Velasquerz, M.G. cited in Heller, V.L. (20 Velasquerz, M.G. cited in Heller, V.L. (20 11 Introduction Introduction Study of Merck and Company describes a story of a drug company that discovered a cure in 1997 for an illness called the River Blindness (RB).
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