Chap9PP - Strategy and Ethics Ethics involves notions of...

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Strategy and Ethics Ethics involves notions of Right and wrong Fair and unfair Moral and immoral Business Ethics is the application of general ethical principles and standards to business behavior Ethical principles in business are not materially different from ethical principles in general Business actions are judged by the general ethical standards of society Legal versus Ethical Behavior
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Business Ethics in the Global Community Some notions of right and wrong are universal while others are not (universalism vs. relativism) Cross-culture variability in ethical standards Determining what is ethical when local standards vary Managers have to figure out how to navigate the gray zone when cross-culture ethics differ Should adhere to higher standard(s) 3 Schools of Thought Ethical Universalism Ethical Relativism Integrative Social Contracts Theory
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Ethical Universalism Ethical Universalism Some concepts of what is right and wrong are universal and transcend almost all cultures, societies, and religions Results in a set of universal ethical standards to which all societies, all companies, and all individuals can be held accountable Sets limits and puts boundaries on behavior
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Chap9PP - Strategy and Ethics Ethics involves notions of...

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