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Presentation Chapter 3

Presentation Chapter 3 - Introduction to Business Ethics...

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Introduction to Business Ethics Chapter III
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Ethics Definition
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Ethics Questions How do you approach issues of ethics and values? Are your approaches different in your personal and professional lives? What are the ethical issues resulted from the current crisis? Have policymakers, regulators, businesses, educators and even our society lost their value base? What is an ethical behavior? Are our ethical standards of public trust, honesty, sensitivity, fairness and values absolute or do they change depending on the context?
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Chapter Objectives: Present the definition of ethics in general and business ethics in particular. • Recognize the need for a code of ethics that is upheld especially by setting the right “tone at the top”. • Become familiar with the SEC rules and regulations related to ethics. • Provide an overview of listing standards and suggestions relating to ethics. • Understand the board’s role in setting the company’s ethical codes. • Recognize the benefits of and need for an ethical workplace. • Identify incentive programs and their roles in promoting an ethical workplace. • Illustrate that actions speak louder than words in promoting an ethical workplace. • Discuss the integration of business ethics into the business curriculum. • Provide an example of proficient implementation of an ethical code by examining the Defense Industry Initiatives on Business Ethics and Conduct. Video ( Video)
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Key Terms Business ethics Code of Ethics Committee of Sponsoring Organizations Of the Treadway Committee (COSO) Conference board Defense Industry Initiatives on Business Ethics and Conduct Ethical Behavior Ethical Incentives Ethical Sensitivity
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Ethical Theories There are several broadly accepted ethical theories. - Consequentialist Theory - Nonconsequentialist Theory - The Individualist Dimension of Ethical Decision - Collectivist Theory - Metaethics - Normative Ethics - Business Ethics
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Definitions Business Ethics : The moral principles and ethical standards that guide business behavior. Professional Ethics : A learning process of professional values, ethics, codes of conduct and accountability to act in the best interest of the profession, the public and the global society. Corporate Governance : An ongoing process of managing, controlling, and assessing business affairs to create shareholder value and protect the interests of other stakeholders. Forensic Accounting : the practice of rigorous data collection and analysis in the areas of litigation support consulting, expert witnessing, and fraud examination.
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8 Ethics Triangle Business  Ethics Ethical  Behavior Ethics Incentives Ethics Sensitivity Ethics sensitivity : Moral principles, workplace environment, gamesmanship, loyalty, peer pressure, and job security that influence one’s ethical decisions.
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