ch10 - ch10 Student What Do We Mean by Business Ethics 1...

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ch10 Student: ___________________________________________________________________________ What Do We Mean by Business Ethics 1. Business ethics concerns A. Developing a consensus among companies worldwide as to what ethical principles that businesses should be expected to observe in the course of conducting their operations B. What ethical behaviors should be expected of company personnel in the course of doing their jobs C. The application of general ethical principles and standards to the actions and decisions of companies and the behavior of company personnel D. Developing a special set of ethical standards for businesses to observe in conducting their affairs E. Picking and choosing among the consensus ethical standards of society to arrive at a set of ethical standards that apply directly to operating a business 2. Ethical principles in business A. Deal chiefly with the actions and behaviors required to operate companies in a socially responsible manner B. Deal chiefly with the rules each company's top management and board of directors make about "what is right" and "what is wrong." C. Are not materially different from ethical principles in general D. Are generally less stringent than the ethical principles for society at large E. Are generally more stringent than the ethical principles for society at large 3. Ethical principles as they apply to business conduct and business decisions A. Deal chiefly with standards a company has (and that are elaborated in its code of ethics) about what is right and wrong insofar as the conduct of its business is concerned and about what behaviors are expected of company personnel B. Deal chiefly with the behaviors that a company's board of directors expects of all company personnel in both their conduct on-the-job and their conduct off-the-job C. Involve the rules a company's top management and board of directors make about "what is right" and "what is wrong." D. Are not materially different from ethical principles in general E. Are generally less stringent than the ethical principles for society at large because it is well understood that businesses should not be expected to operate any differently than what the law requires of them Where Do Ethical Standards Come From—Are They Universal or Dependent on Local Norms and Situational Circumstances? 1
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4. Notions of right and wrong, fair and unfair, moral and immoral, ethical and unethical A. Vary enormously from religion to religion and country to country across the world B. Are present in all societies, organizations and individuals; some of the most important concepts of what is right and what is wrong (being truthful, integrity of character, not cheating or stealing, treating people with dignity and respect) resonate with people of most cultures and religions and are thus universal C. Ultimately depend on the circumstances—nothing is really black or white when it comes to ethical standards D. Are governed mainly by the thinking and writings of religious clerics at the School of Morally
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ch10 - ch10 Student What Do We Mean by Business Ethics 1...

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