Chapter 5 Outline

Chapter 5 Outline - Chapter 5: Ethics and Social...

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Chapter 5: Ethics and Social Responsibility I. What is Managerial Ethics? Ethics is the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong. See exhibit 5.1 on page 140. An ethical dilemma is a situation that arises when all alternative choices or behaviors are deemed undesirable because of potentially negative consequences, making it difficult to distinguish right from wrong. II. Criteria for Ethical Decision Making The following approaches are relevant to managers. o Utilitarian Approach The ethical concept that moral behaviors produce the greatest good for the greatest number. o Individualism Approach The ethical concept that acts are moral when they promote the individual’s best long- term interests, which ultimately leads to the greater good. o Moral-Rights Approach The ethical concept that moral decisions are those that best maintain the rights of those people affected by them. See 6 moral rights on pages 143-144. o
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This note was uploaded on 11/10/2010 for the course POM 620 taught by Professor Daughtry during the Spring '08 term at Rutgers.

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Chapter 5 Outline - Chapter 5: Ethics and Social...

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