business case of ethics

business case of ethics - TheBusinessCasefor Ethics Bus M...

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The Business Case for  Ethics Bus M 390 Marriott School of Management Brigham Young University
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Why Be Ethical? Macro Arguments Micro Arguments
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Costs of Unethical Behavior Costs for Society? Costs for Businesses? Short-term versus Long-term
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Bad Ethics Increases  Transaction Costs Party A Party B Trade Security Lawyers Regulators Delays Interest Duplication Warranties Etc, etc!
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What is the Cost of Lack of  Integrity in the US? Employee fraud $400 B Time theft $230 B $200 B $200 B $120 B Identity theft $ 50 B (Quoted in Stephen R. Covey’s preface to Business with Integrity) …and these are only the direct costs!
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The Cost of Bad Press
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Test Your Cynicism Quotient 1 = Strongly Disagree 5 = Strongly Agree 1. Financial gain is all that counts in business. 2. Ethical standards must be compromised in business practice. 3. The more financially successful the business person, the more unethical the behavior. 4. Moral values are irrelevant in business. 5. The business world has its own rules. 6. Business persons care only about making profit. 7. Business is like a game one plays to win. 8. In business, people will do anything to further their own interest. 9. Competition forces business managers to resort to shady practices 10. The profit motive pressures managers to compromise their ethical concerns. Source: Trevino and Nelson Textbook, 4 th edition, page 20
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How does ethical behavior add value  to the organization?
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The Importance of Trust Economic and moral value “Trust accounts” Two examples: Johnson & Johnson (1982) Jack in the Box (1993)
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business case of ethics - TheBusinessCasefor Ethics Bus M...

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