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Sept._20_Overheads - Managing Business Ethics Chapter 2...

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+ + Managing Business Ethics Chapter 2 Treviño & Nelson – 5 th Edition
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+ + Chapter 2 Overview Ethical Dilemmas Prescriptive Approaches Focus on consequences (consequentialist theories) Focus on duties, obligations, principles (deontological theories) Focus on integrity (virtue ethics) Eight steps to making sound ethical decisions Practical preventive medicine
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+ + What is an Ethical Dilemma? A situation where values are in conflict Two or more values you hold dear - or – Personal value conflicts with organizational value Value Value Value Value
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+ + The Layoff You’re the plant manager in one of ABC Company’s five plants. You’ve worked for the company for 15 years, working your way up from the factory floor after the company sent you to college. Your boss just told you in complete confidence that the company will have to lay off 200 workers. Luckily, your job won’t be affected. But a rumor is circulating in the plant, and one of your workers (an old friend who now works for you) asks the question. “Well, Pat, what’s the word? Is the plant closing? Am I going to lose my job? The closing on our new house is scheduled for next week. I need to know.” What will you say?
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+ + Prescriptive Approaches Focus on consequences (consequentialist theories) Focus on duties, obligations, principles (deontological theories) Focus on integrity (virtue ethics)
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+ + Focus on Consequences (Consequentialist Theories) Utilitarianism - best known consequentialist theory Identify alternative actions and consequences to stakeholders Best decision yields greatest net benefits to society Worst decision yields greatest net harms to society
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+ + Focus on consequences – classic Trolley example A runaway trolley is hurtling down the tracks toward 5 people who will be killed if it proceeds on its present course. You can save these 5 by diverting the trolley onto a different set of tracks, one that has only 1 person on it, but if you do this that person will be killed.
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