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02. Business Ethics

02. Business Ethics - CONDITIONS TO USE THE MATERIAL SET...

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CONDITIONS TO USE THE MATERIAL SET FORTH BELOW (THE OUTLINE”) IS BEING PROVIDED FOR USE BY THE STUDENT SOLELY TO PARTIALLY ASSIST THE STUDENT IN PREPARING FOR THE CLASS LECTURES OF MICHAEL J. LOMBARDO (THE “INSTRUCTOR”) CONCERNING THE COURSE MATERIAL FOR MGT 401 TO BE PRESENTED IN CLASS BY THE INSTRUCTOR. REVIEW OF THE MATERIAL INCLUDED IN THE OUTLINE IS NOT A SUBSTITUTE FOR CLASS ATTENDANCE OR FOR TAKING NOTES DURING THE CLASS LECTURES. THE INSTRUCTOR RESERVES THE RIGHT TO EXPAND, SUPPLEMENT, ADD TO, OMIT FROM, CORRECT, UPDATE, OR OTHERWISE MODIFY THE MATERIAL INCLUDED IN THE OUTLINE, AT ANY TIME AND FROM TIME TO TIME, IN ANY CLASS, WITHOUT POSTING ANY CHANGES TO THE OUTLINE. IN ADDITION TO THE MATERIAL INCLUDED IN THE OUTLINE, EACH STUDENT IS RESPONSIBLE FOR ALL OF THE MATERIAL INCLUDED IN THE CHAPTERS REQUIRED TO BE READ AS SET FORTH IN THE COURSE OUTLINE PREPARED BY THE INSTRUCTOR, AND FOR ALL MATERIAL PRESENTED DURING THE CLASS LECTURES. RELIANCE SOLELY ON THE MATERIAL INCLUDED IN THE OUTLINE IN PREPARING FOR ANY TEST TO BE GIVEN BY THE INSTRUCTOR IS PROHIBITED. THE INSTRUCTOR RESERVES THE RIGHT TO DISCONTINUE POSTING ANY MATERIAL ON THE WEB AT ANY TIME. 1
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ETHICS (Chapter 2) I. What Is Ethics? 1. Generally accepted rules of conduct that govern society a. Standards and expectations of behavior b. Conduct is not always illegal (e.g. cut in line) 2. Rules are generally unwritten 3. Apply notions of fairness, honesty and what is just 4. Why do we care? 2
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II. What Is Business Ethics? 1. One can be in business and be ethical! Business ethics involve the practice of fairness and moral standards amidst the pressure to make a profit. 2. Three layers to business ethics: a. Basic values i. Honesty ii. Keeping promises iii. Not taking things that do not belong to you b. Notions of fairness (how we treat others) c. How business relates to its community, environment and neighbors 3. Personal, economic interests can lead to compromise of personal, moral standards 3
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4. Sources of Ethical Standards a. Moral Standards i.
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