Chapter 4 - CHAPTER 4: BUSINESS TRENDS: CULTIVATING A...

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C HAPTER  4: B USINESS  T RENDS : C ULTIVATING   A   B USINESS   IN  D IVERSE , G LOBAL  E NVIRONMENTS E THICS  I S   MORE   THAN   LEGALITY E THICAL  S TANDARDS   ARE  F UNDAMENTAL Ethics-  standards of moral behavior that is accepted by society as right versus wrong E THICS   BEGINS   WITH  E ACH   OF  U S - 2 recent studies show that there is a strong relationship between academic dishonesty among  undergraduate students and dishonesty later, when these same students were in the working  world - It is helpful to ask yourself the following questions when facing an ethical dilemma: o Is it legal? o Is it balanced?  Am I acting fairly? o How will it make me feel about myself? M ANAGING  B USINESSES  E THICALLY   AND  R ESPONSIBLY - Any trust and cooperation between workers and managers must be based on fairness, honesty,  openness, and moral integrity - A business should be managed ethically for many reasons:     o To maintain a good reputation o To keep existing customers o To attract new customers o To avoid lawsuits o To reduce employee turnover o To avoid government intervention
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S ETTING  C ORPORATE  E THICAL  S TANDARDS Compliance-based ethics codes-   ethical standards that emphasize preventing unlawful behavior by 
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This note was uploaded on 03/20/2008 for the course BINT 101 taught by Professor Lifton during the Fall '07 term at Ithaca College.

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Chapter 4 - CHAPTER 4: BUSINESS TRENDS: CULTIVATING A...

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