Exam1 - FC1 - Ethics Ethics A conception of right and wrong...

Info iconThis preview shows pages 1–16. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Ethics Ethics A conception of right and wrong conduct; tells us whether our behavior is moral or immoral. Deals with fundamental human relationships; how we think and behave toward others and want them to think and behave towards. Business Ethics Ethical Principles Guides to moral behavior. Application of general ethical ideas to business behavior. Experiences 1. Religious beliefs 2. Family background 3. Education 4. Community/ neighborhoo d 5. Media influences Notions of right and wrong come from many sources: Creates a concept of ethics, morality, and socially acceptable behavior in each person, acting as a moral compass to guide an individual when ethical dilemmas arise. Ethical Relativism Ethical Relativism Ethical behavior should be defined by various periods in time in history, a societys traditions, the special circumstances of the moment, or personal opinion. The meaning given to ethics would be relative to time, place, circumstance, and the person involved; there would be no universal ethical standards on which people around the globe could agree. Egotistical Mentality 1. Meet demands of business stakeholders 2. Enhance business performance 3. Comply with legal requirements 4. Prevent or minimize harm 5. Promote personal morality Five key reasons business should be ethical: Focus on personal gain and selfish interest; selfish interest vs. others interests (i.e. I want it!). Favoritism Mentality Bottom-Line Mentality Focus on competitive pressures on profits; firms interest vs....
View Full Document

Page1 / 55

Exam1 - FC1 - Ethics Ethics A conception of right and wrong...

This preview shows document pages 1 - 16. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online