final law - 5 The Key Study Areas are as follows TCO...

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5. The Key Study Areas are as follows…. . TCO A -Business ethics : Three layers of Business ethics: 1) Basic values (honest, keeping promises) 2) Notion of fairness (how do we treat others?) 3) Issues related to community, environment, neighbors Business ethics considers fairness and morals standards amidst the pressure of earning a profit and providing returns to shareholders. Sometimes we may have business ethical tensions where Employee has personal economic interests in continuing employment that may compromise certain personal moral standards. -Ethical Models/Tests The Blanchard and Peale Model Is it legal? (IF NO, analysis is done) Is it balanced? (Is our deal with the other side balanced or was it cutthroat?) How does it make me feel? ( The action may be legal and appear balanced; but, do you feel good about it?) Front Page of the newspaper test: Simple question that requires a decision maker to envision how a reporter would describe a decision on the front page of a local or national newspaper. Laura Nash Perspective Model : How would I view the issue if I stood on the other side of the fence? What am I trying to accomplish? Can I discuss my decision with friends, family, and those closest to me? The Golden Rule: “Do unto others as you would have them to unto you. This requires one to apply the same standards of fairness and equity to their own actions that they would demand from others. Utilitarianism: Judges the rightness or wrongness of actions and decisions based on CONSEQUENCES. Seek those alternatives that produce the greatest amount of good for the greatest number of people. Distributive Justice: John Rawls (American Liberal Philosopher) à Justice occurs when all individuals get what they deserve. Injustice occurs when people are derived of that which
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they have a right. Is everyone in the group better off because of this act? Would each person be willing to trade places with any of the other parties after this act takes place? -Moral Standards Sources of Moral Standards: Actual or positive Law (Companies may find ways to bend the law, however) Natural Law (Slavery was legal, but not moral) Moral relativism or situational ethics (Violation of law permitted if you are stealing food for starving family) Religious beliefs or Divine Intervention (Bible, Koran, etc.) -Federal Court Structure -NY State Court Structure The corrected statement should be: “To bring a lawsuit in NY State, one will initiate the case in the NY Supreme Court, then appeal it to the Appellate Division, and if necessary, appeal to the NY Court of Appeals. The NY Court of Appeals is the highest Court in NY State.” -Public law v. Private Law Public Law: Laws enacted by some authorized governmental body. State/Federal Constitutions
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This note was uploaded on 07/28/2011 for the course GM 591 taught by Professor Jimlot during the Spring '09 term at Keller Graduate School of Management.

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final law - 5 The Key Study Areas are as follows TCO...

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