GBUS160 chapter 2 outline

GBUS160 chapter 2 outline - Chapter 2 I. Concern for...

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Chapter 2 I. Concern for Ethical and Societal Issues -Sarbanes-Oxley Act- added oversight for the nation’s major companies and a special oversight board to regulate public accounting firms that audit the financial records of these corporations. This established new rules and regulations for securities trading and accounting practices, a company is required to publish its code of ethics, if it had one, and inform the public of any changes made to it. -Business ethics- the standards of conduct and moral values governing actions and decisions. -Social issues- how a decision affects the environment, employees, and customers. II. The New Ethical Environment -Example of a highly ethical company: Johnson & Johnson -the most valuable and most admired companies: virtuous, execution, growth, and have great people. A. Individuals make a difference B. Development of individual ethics -3 Stages: -preconventional- individuals consider their own needs and desires in making decisions. -conventional- individuals are aware of and act in response to their duty to others. -postconventional- individuals are able to move beyond mere self-interest and duty and take the larger needs of society into account. -Past experiences, family, education, culture, and religion help shape responses to situations. C. On-the-job ethical dilemmas
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GBUS160 chapter 2 outline - Chapter 2 I. Concern for...

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