chapter 3 outline

chapter 3 outline - Chapter 3 Managing Ethics and Diversity...

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Chapter 3 Managing Ethics and Diversity 1. Nature of Ethics 1. Ethical Dilemmas 1. Ethical dilemma – A situation where people find themselves questioning their own actions and whether or not they should help another person or “do the right thing” even if it might go against their own self-interest. Another case where there could be an ethical dilemma would be when a person has to decide between two different courses of action when knowing that choosing either one would bring harm to the other party or individual. 2. Moral scruples – Part of a person’s ethics, the thoughts and feelings that help a person decide what is right and what is wrong. 3. Ethics – internal moral principles, values and beliefs that are used by individuals to analyze and interpret a situation and decide the course of action they would take. This decision is usually considered “right” in their minds or the course that causes the least damage to the present situation. This concept also gives people an idea of what actions would be unethical to bestow on other people. 4. (Manager Question: Has there ever been a time where NT had to reevaluate their morals or ethics in business?) 5. There is no absolute or set rules that say whether something is ethical or unethical 2. Ethics and the Law 1. The rule of thumb to determining the appropriate behavior when dealing with others – laws created provide a legal and political process that helps determining ethical behavior 1. Helps rule actions and determines punishments if the behavior is inappropriate 2. Important thing to remember: Neither law or ethics has fixed principles. The ethics of society changes over time and laws are reflected in lieu of those changes. 3. Golden rule: “Do unto others as you would have due unto you” 3. Time and Change in Ethics 1. Through time, people change their beliefs and this causes people to question the law. Many laws were disputed among different groups of society in the past and this remains the same today. Although ethical beliefs formed the laws that we have today, a change in belief can still alter those existing laws.
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2. There is a relationship between ethics, law and business. Although something may not be illegal, it does not mean that it is not ethical and even though an action is legal, it does not make it ethical. 3. In conclusion, managers are the ones who have to ultimately decide whether an action is appropriate or not appropriate. They have the responsibility of how to approach the products and services offered to customers. 2. Ethics and Stakeholders collide 1. Stakeholders – People who have a claim to the company because they provide productive resources. 1. Ethics generally holds a significant importance to stakeholders because it should generally coincide with what they believe is ethical. The ethics of a company can directly harm or benefit a stakeholder. 2.
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chapter 3 outline - Chapter 3 Managing Ethics and Diversity...

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