BASR TEST SLIDES - Values desirable principle or quality...

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Values- desirable principle or quality Ethics- considering whether our actions are right or wrong, beliefs about what is right or wrong that come from inside us Shaw and Barry …business ethics as nothing less than the full awareness of what one is doing, its consequences and complications Ethics from Shaw and Barry Business ethics is nothing less than the full awareness of what one is doing, its consequences and complications. Thinking about ethics in business is no more than acknowledging that one has taken compliance, contributions and consequences into account and being and is willing to be responsible for them. The need for compliance with laws, rules of behavior, customs etc…. thinking about the contributions business can make to society (and all stakeholders affected by business decisions)…the consequences of business activity both inside and outside the company. Judith Samuelson – “New Rigor” One thing is clear: for business leaders to succeed in the global economy will require new kinds of management processes and analytic frameworks. Their decision rules will need to be more rigorous and open to a wider set of realities than in the past…. To many, proof of rigor is an Excel spreadsheet, Monte Carlo simulation, or research with the appropriate p value. And these can be extraordinarily powerful tools. But from our vantage point, business education cannot be considered rigorous until educators see that all managers, even those steeped in shareholder primacy, make important choices based on the perspectives they bring and the values they apply to each decision. Keys to Solving Ethical Dilemmas Situations concerning right and wrong in which values are in conflict Step One: Know our own values Step Two: Be guided by your values Step Three: Spot the red flags Step Four: Decide what is right (an ethical decision making process) Three broad ethical categories A. Consequentialist Theories: Utilitarianism (Focuses on the consequences or results of an action.)
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B. Nonconsequentialist or Deontological Theories ( The end (the utilitarian end) can never justify the means.) (According to Kant, an act is morally right if and only if we would will it to be a universal law of conduct) Criticism: Sometimes the outcomes (not considered by the deontologist) can lead to horrific consequences. C. Virtue Ethics: The Role of Character A virtue ethics approach is centered on why people do what they do rather than the act itself. Aristotle's Four Basic Virtues: Self-discipline Courage Justice Prudence Step Five: Take the action to do the right thing Virtue Ethics – DesJardins DesJardins favors virtue approach to business ethics A morally responsible business is not one that measures its actions against some external principle, but one in which good people are making the decisions A good person possesses practical wisdom The Free Market The Case for Pure Profit Maximization
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This note was uploaded on 04/29/2008 for the course BCOR 3010 taught by Professor None during the Fall '07 term at Colorado.

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BASR TEST SLIDES - Values desirable principle or quality...

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