5.3 2010EHR Week 5 Workshop Slides - Ethics and Review (T2, 2017) (Final).pptx

5.3 2010EHR Week 5 Workshop Slides - Ethics and Review (T2, 2017) (Final).pptx

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2010EHR LEGAL ISSUES FOR MANAGERS Workshop 5 Module 3 – Ethics and the law Covers: Ethics and Law
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Question 1: (a) What is the difference between unethical and illegal conduct? (b) Can you think of some examples of conduct that is legal, but may be unethical? (c) What are some examples of conduct that is illegal, but may be ethical? Answer: (•) Discuss the difference between religion, morals, ethics and law (•) Give examples of conduct that is legal but may be unethical (•) Give examples of conduct that is illegal but may be ethical
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Law, Ethics, Morals and Religion Religion Guides our moral, ethical and legal decisions? Religion Guides our moral, ethical and legal decisions? Morals Guides our ethical decisions? Morals Guides our ethical decisions? Ethics What is right, what ought to be Ethics What is right, what ought to be Law Rules that govern the conduct of members of society (both natural and legal) Law Rules that govern the conduct of members of society (both natural and legal) Business Ethics? Provides guidance for individuals and groups in respect to their business relationships
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Question 2: Can you think of some examples of when business ethics overlap with the law? Answer: Contract law: Unconscionability, mistake, misrepresentation and undue influence Australian Consumer Law: Unethical business practices prohibited, eg. Misleading/deceptive conduct, unconscionable conduct, false representations Corporations Act: Officers’ duties, duty to act in good faith, not to misuse position/information and to avoid conflicts of interest
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Question 3: Why should a business behave ethically? What are some of the advantages and disadvantages? Answer: See next two slides
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Good business ethics Good reputation Happy customers Repeat business Financial Benefit Why should businesses behave ethically?
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Poor business ethics Customers lose confidence Customers leave Bad publicity Lose money Other negative effects (eg. Further regulation by government) What happens if businesses don’t behave ethically?
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Question 4: Explain the following theories: (a) Milton Friedman’s theory of business ethics; (b) The theory of corporate social responsibility; and (c) The theory of the triple bottom line. Answer: See next slides
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Part (a): Milton Friedman Increase profits and maximise returns to the shareholders Environmental, social and other ethical considerations The only social responsibility of the corporation is to increase profits and maximise returns to the shareholder
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Part (b): Corporate Social Responsibility Enterprises responsible for their impacts on society Enterprises responsible for their impacts on society Legal requirements are a minimum, not a maximum Legal requirements are a minimum, not a maximum Corporate Social Responsibility Corporate Social Responsibility
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