R1 - 0.1 OUTLINE OF THIS PAPER This paper is discussed...

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0.1 OUTLINE OF THIS PAPER This paper is discussed under the following broad areas: Preliminaries 1. Statement of the Problem 2. Executive Summary Main Paper 1. Introduction to Business Ethics 2. Ethics as an Academic Discipline 3. Importance of Ethics in Business as an Academic Discipline 4. The Case Against Business Ethics Education 5. Conclusion 0.2 STATEMENT OF THE PROBLEM Question 1: Discuss the importance of Ethics in business as an Academic Discipline. 0.3 EXECUTIVE SUMMARY In today’s highly competitive, performance-driven business climate, regulations are not enough; professional ethics codes are not enough; the old model of “business ethics” is not enough. According to a 2003 survey of corporate directors and general counsel conducted by the National Association of Corporate Directors and the American Corporate Counsel Association, “…the two groups overwhelmingly agree that the single measure that would most improve corporate governance is the establishment by senior management of an ethical business culture.” And, “Another clear message of the survey is that ethical leadership from the top is the key to reducing corporate malfeasance.”
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Considering the ethical failures in the last several years and the resulting crisis in confidence, a sincere commitment to creating and sustaining an ethical business culture in public and private sectors has never been more important. It is important that each individual feels personally ethically responsible. How an individual treats others, is affected by the way the individual is treated within the organization or by society. The focus on ethics provides a guide to individual and organizational actions in a consistent manner. The question ethics tries to answer is: “Is this the right thing to do? The purpose of ethical inquiry is to create a framework of general principles or right and wrong, what one might do, and what one’s duties are. The ethical application in a business situation is for managers to draw a line between morality and individual or institutional self-interest. Ethical analysis involves assessing issues and paying attention to the effects of potential decisions on the lives of those who will be affected. The imperatives of day-to-day organizational performance are so compelling that there is little time or inclination to divert attention to the moral content of organizational decision-making. Morality appears to be so esoteric and qualitative in nature that it lacks substantive relation to objective and quantitative performance. An effective organizational culture should encourage ethical behavior and discourage unethical behavior. Admittedly, ethical behavior may cost the organization. Even though ethical problems in organizations continue to greatly concern society, organizations and individuals, the potential impact that organizational culture can have on ethical behavior has not really been explored. What is needed in today's complicated times is for more organizations to step forward and operate with more positive and
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This note was uploaded on 05/21/2011 for the course ECON 123 taught by Professor Day during the Spring '11 term at Arab Open University, Amman.

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R1 - 0.1 OUTLINE OF THIS PAPER This paper is discussed...

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