LAW 322 Ch 2 Outline

LAW 322 Ch 2 Outline - LAW 322 CH 2 Outline II The Ethical...

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LAW 322 CH. 2 Outline II. The Ethical Basis of Law and Business Management A. Contemporary Business Ethics 1. Ethics and Society a. Public Education and Family Structure : call for business ethics in response to decline in public ed. and family structure as sources for ethical teaching b. Economic Interdependence: each of us depends on business/industry everyday and the decisions made in business have a significant impact on us, therefore everyone has an economic interest in businesses behaving ethically c. News Media and Internet: Media makes us more aware of business ethics failures, making it increasingly difficult to hide questionable activity d. Diversity/Few Shared Values 2. Ethics and Government a. these changes in society are accompanied by changes in the role of gov’t; when business fails ethically, gov’t can step in b. business leaders becoming more concerned w/ business ethics b/c want to limit gov’t regulation; by encouraging ethical conduct, etc. they prevent outside standards being imposed on them B. The Nature of Ethics 1. Ethics and Morality a. morality: values that guide our behavior b. in society: sharing moral values promotes social cooperation, is significant means of social control; sharing values in business life is just as important c. ethics: systematic statement of right and wrong together w/ philosophical system that both justifies, necessitates rules of conduct i. “the good”: the end result of ethical examination, those moral goals we choose to pursue 2. Ethics and Law a. Both consist of rules to guide conduct/foster social cooperation, deal with what is right/wrong b. differences: legal system = institution of the state; state enforces legal rules through civil/criminal sanctions ; many ethical values are unenforceable; many laws don’t address ethical concerns; motivation to observe: ethics (within); laws (external,
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