Chapter 4 Ethics posted0

Chapter 4 Ethics posted0 - Ethics and Business Decision...

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Ethics and Business Decision  Making Chapter 4
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Ethics and Business Decision  Making Business Ethics  – A consensus of  what constitutes right or wrong  behavior in the world of business  and the application of moral  principles to business settings.
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Importance of Ethics Why bother with ethics? – Society as a whole benefits from ethical  behavior Image a society with no ethical constraints – People feel better when they act ethically Ethics produces good company morale – Unethical behavior can be costly KPMG example
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Setting the right ethical tone • Attitude of management has an impact on  employees – Baum v. Blue Moon Ventures, LLC • “Looking the other way” implicitly  accepts unethical behavior – Exxon Valdez • Creating realistic goals helps • Periodic evaluations help
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Setting the right ethical tone • Creating Ethical Codes of  Conduct • Corporate Compliance Programs – Sarbanes-Oxley Act – Worldcom example
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Chapter 4 Ethics posted0 - Ethics and Business Decision...

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