Bus Chapt 4 - in a business: 1) top management must set a...

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Ronald Francois 10/24/2008 Chapt 4 Pg 94 1) Ethics are defined as the standards of moral behavior, that is, behavior that is accepted by society as right versus wrong. 2) Ethics reflects people’s proper relations with one another. Legality is more limiting; it refers only to laws written to protect people from fraud, theft, and violence. 3) It is helpful to ask yourself the following questions when facing an ethical dilemma: 1) Is it legal?, 2) Is it balanced?, and 3) How will it make me feel about myself? Pg 98 1) Compliance-based ethics codes emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers. Whereas compliance-based ethics codes are based on avoiding legal punishment, Integrity-based ethics codes define the organization’s guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees. 2) There are six steps to follow in establishing an effective ethics program
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Unformatted text preview: in a business: 1) top management must set a corporate code of conduct, 2) employees must know that they are held in high regards, expectations, and accountability, 3) Managers and others must be trained to consider the ethical implications of all business decisions, 4) An ethics office must be set up. (Protect whistleblowers), 5) Inform external customers about ethics code, and 6) the ethics codes must be enforced. Pg 109 1) American companies influence ethical behavior and social responsibility in global markets by not importing products from companies that do not meet their ethical and social responsibility standards. 2) There will be a single set of international rules governing multinational companies soon because there is a need for conformity and uniformity among businesses in the global marketplace....
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This note was uploaded on 02/12/2012 for the course ECONOMICS 101 taught by Professor Obiene during the Spring '11 term at Essex County College.

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