Business ethics - Nov 1

Business ethics - Nov 1 - Business ethics Business ethics...

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Business ethics Business ethics -“rules, standards, or principles that provide guidelines for morally correct behaviour in decision making related to business operations.” Managers Considerations of Ethical Implications in Business Decisions -Level 1 = Awareness (of moral or ethical implications) -Level 2 = Assessment based on influence (value judgments and moral standards) -Level 3= Assessment based on use of ethical principles Importance of Ethics in Business -The perception of corporate social responsibility reflects the ethical approach of a company -Senior management will generally be judged against the public’s perception of the company -The perception of ethics is particularly important for a company Complicating factors on “personal” ethics -Personal, organizational, and social influences (Bribery, nepotism (hire family or friend without merit ), insider trading, misleading advertising, conflict of interest) Ethics and values in Government Ethics is a subset of values: -Democratic values: helping ministers to serve the public interest
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Business ethics - Nov 1 - Business ethics Business ethics...

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