Wk05_1301 Ethics (Ch.5,6)

Wk05_1301 Ethics (Ch.5,6) - SocialContextofBusiness ADM1301...

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Social Context of Business ADM 1301   Week 5 Ethics Text Reference: Chapters 5, 6
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2 Ethics and Headlines – North America Enron  – dubious accounting  practices used to enhance  revenues and mask liabilities Arthur Andersen  – convicted  of obstructing justice WorldCom  – improperly  spread more than $7 billion in  expenses over an extended  period to make earnings look  better Bre-X  – salted gold samples  creating the perception of  extremely high gold yields  from Busang in Indonesia  where there was actually  no  gold
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3 Ethics and Headlines – Japan Snow Brand  –largest dairy  producer in Japan cut corners  by recycling outdated milk Kyowa Perfumery  – an  additives manufacturer that  continued to sell flavourings to  Kentucky Fried Chicken and  other food firms in Japan even  though the additives had been  banned for 30 years Universal Studios Japan  –  theme park sold outdated  salami and other old food  products – nine months after  the original “sell by” date – by  changing the labels
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4 Chapter 5 Outline Business Ethics: Key Terms Ethical Implications in Business Influences on Ethical Behaviour Theoretical Basis for Ethical Conduct Moral Reasoning Process Kohlberg’s Stages of Moral  Development
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5 Business Ethics  Ethics of business :  rules, standards, codes,  or principles that provide guidelines for  morally right behaviour and truthfulness in  specific situations. Value judgments :  subjective evaluations of  what is considered important. Moral standards :  the means by which  individuals judge their actions and the actions  of others.
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6 Ethical Implications in  Business Owners fair and accurate  disclosure Employees hiring; firing; wages;  privacy; discrimination;  honesty; conflicts of  interest; insider  information Consumers  dishonest advertising;  product safety Competitors non-competitive  behaviour; industrial  espionage Suppliers kickbacks; gifts; bribes Government legal compliance;  lobbying Society  respect for environment;  corporate giving
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7 Influences on Ethical  Behaviour Individual morals National and ethnic cultures Government legislation and regulation The legal system Religion Colleagues or peers Education
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8 Influences on Ethical  Behaviour Media Corporate mission, vision, and values  statements Union contracts Competitive behaviour Activists or advocacy groups (NGOs) Business or industry organizations Professional associations
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9 Self-Interest (Ethical Egoism) Individuals or corporations set their own  standards for judging the ethical 
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This note was uploaded on 12/09/2010 for the course TELFER ADM 1301 taught by Professor Timragan during the Fall '10 term at University of Ottawa.

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Wk05_1301 Ethics (Ch.5,6) - SocialContextofBusiness ADM1301...

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