Chapter 5 Ethics and Corporate Responsibility

Chapter 5 Ethics and Corporate Responsibility - Chapter...

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Chapter 5—Ethics and Corporate Responsibility 1. “What are the options you have when confronting ethical issues?” . 1a. “What should you do when your manager/CEO is behaving unethically?” 2. “Why is ethical decision-making important in the business environment?” 2a. “What impact do ethical/non-ethical decisions have on businesses?” Question 1. When discussing the options people have when confronting ethical issues, the more you understand your own values, the clearer the appropriate course of action will be. A more simplistic (and perhaps more practical) approach to ethical decision making is to: 1) Evaluate the situation from your perspective; 2) Evaluate the situation from the perspective of as many other people involved in it as possible; and 3) Ask yourself if your mother (or the person you respect most in the world) would be happy with what you are planning to do. Question 1a. The reality of this dilemma is a power differential, and a possible lack of information. The situation might look different from different perspectives, and before any action is taken, it is important to get complete information. So the first thing you have to do in this situation is to talk with the manager and find out why he/she is doing something that looks unethical to you. If you are still convinced that the manager is behaving unethically, it is up to you to make one of four choices: 1) Live with it; 2) Confront the manager directly; 3) Confront the manager’s supervisor; or 4) Leave the situation. You should only go to the supervisor or the supervisor’s manager (in the case of the CEO, the Board of Directors) directly. It is critical to know that you don’t “end run” someone above them in the corporation. CLASS ROADMAP I. LEARNING OBJECTIVE 1. HOW DIFFERENT ETHICAL PERSPECTIVES GUIDE DECISION MAKING A. Definitions 1. Ethics - the system of rules that governs the ordering of values. An ethical issue is a situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as right or wrong. This material has been taken and in some cases adapted from the instructor’s manual that accompanies the book. The McGraw-Hill Companies, Inc.
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2. Business Ethics - comprise the moral principles and standards that guide behavior in the world of business. B. Ethical systems 1. Moral philosophy refers to the principles, rules, and values people use in deciding what is right or wrong. 2. Universalism is the ethical system upholding certain values regardless of immediate result. 3. Teleology considers an act to be morally right or acceptable if it produces a desired result. 4. Egoism is an ethical system defining acceptable behavior as that which maximizes consequences for the individual. 5. Deontology focuses on rights of individuals.
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Chapter 5 Ethics and Corporate Responsibility - Chapter...

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