Ethical Decision Making & Moral Theory (Week 4 & 5)

Ethical Decision Making & Moral Theory (Week 4...

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Business & Professional Ethics Chapter 5 ( PPTs 5 ) Ethical Decision Making
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Prof. Len Brooks, Rotman School of Management, University of Toronto, 2008 Nuggets from Previous Session Professions are to serve the public interest Reputation is to be maintained by meeting the expectations of the public Most codes harmonizing to IFAC Code IFAC Code framework – duty to society to serve the public interest, compliance to fundamental principles, threats to compliance, safeguards Independent judgment vital to compliance Codes have required continuous improvement Codes don’t resolve all issues Judgment is needed for ethical decision making Values (Kohlberg) & professional skepticism are important
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Prof. Len Brooks, Rotman School of Management, University of Toronto, 2008 Ethical Decision Making Learning Objectives Why is it important? What were the basic contributions of philosophers? How to use stakeholder analysis frameworks.
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Prof. Len Brooks, Rotman School of Management, University of Toronto, 2008 Agenda Nuggets from the Previous Session Complete discussion on Role of a Professional Accountant Cases – Tyco, Nortel, Locker Room Talk, Advice for Sam & Ruby, Recent Ethics Case List IFAC Code – Values, Judgment, Independence Prof. codes – discipline, shortfalls, international comparison Ethical Decision Making Philosophical Approaches & Framework Stakeholder Impact Analysis – Approaches, Pinto Non-quantifiable impacts – Martha Stewart case Managing stakeholder relationships – Microsoft Antitrust case
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Prof. Len Brooks, Rotman School of Management, University of Toronto, 2008 TABLE 4.3 RULES OF THUMB FOR ETHICAL DECISION MAKING Golden Rule: Do unto others as you would have them do unto you. Disclosure Rule: If you are comfortable with an action or decision after asking yourself whether you would mind if all your associates, friends, and family were aware of it, then you should act or decide. The Intuition Ethic: Do what your “gut feeling” tells you to do. The Categorical Imperative: You should not adopt principles of action unless they can, without inconsistency, be adopted by everyone else. The Professional Ethic : Do only what can be explained before a committee of your professional peers. The Utilitarian Principle: Do “the greatest good for the greatest number.” The Virtue Principle: Do what demonstrated the virtues expected. Principle Source: A.B. Carroll, “Principles of Business Ethics: Their Role in Decision making and Initial Consensus,” Management Decision , 28:8 (1990): 20-24, see Figure 3
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Prof. Len Brooks, Rotman School of Management, University of Toronto, 2008 TABLE 4.1 EDM CONSIDERATIONS: PHILOSOPHICAL UNDERPINNINGS EDM Considerations Philosophical Theories Well-offness or well-being
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This note was uploaded on 12/21/2010 for the course ACCT 450 taught by Professor Dannylo during the Fall '10 term at Hong Kong Shue Yan.

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Ethical Decision Making & Moral Theory (Week 4...

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