Chapter_4_presentation

Chapter_4_presentation - Ethics and Social Responsibility...

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Ethics and Social Responsibility Chapter 4
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Ethics in Business Ethics – set of moral principles or values that govern behavior Managers must face sometimes difficult ethical decisions in business situations. Code of Ethics – document that outlines the principles of conduct to be used in making decisions within an organization
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A Code of Ethics Content May Address the following: Honesty Adherence to the law Product safety and quality Health and safety in the workplace Conflicts of interest Employment practices Staffing and marketing practices Financial reporting Pricing, billing, and contracting Trading in securities/using confidential information Acquiring and using information about competitors Security Payments to obtain bonuses Protection of the environment
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Behaving Ethically and Unethically Behaving ethically: Helps employees gain the most of the people with whom they work Helps businesses gain the trust of customers, suppliers, and others Behaving unethically: Can hurt or end a businessperson’s career Can cause a company to lose millions of dollars or even go out of business altogether
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Behaving Honestly Sarbanes-Oxley Act of 2002 Due to Enron and WorldCom scandals, President Bush signed this act that affects the reporting and governance of public companies and their directors and officers. Employee Theft Employers trust their employees not to steal from them. Embezzlement Stealing supplies, inventory
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Behaving Honestly Hours worked Employees who behave ethically are honest about the hours they work. Ethical employees will only miss work when
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This note was uploaded on 01/13/2012 for the course BUS M 201 taught by Professor Mcgregor during the Fall '11 term at BYU.

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Chapter_4_presentation - Ethics and Social Responsibility...

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