ethics - MANAGERIAL ETHICS and SOCIAL RESPONSIBILITY 1 Per...

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1 MANAGERIAL ETHICS and SOCIAL RESPONSIBILITY
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2 Confidential - for classroom use only Per the OED Ethics: The science of morals; the department of study concerned with the principles of human duty Including besides Ethics properly so called, the science of law whether civil, political, or international Moral: Of or pertaining to character or disposition, considered as good or bad, virtuous or vicious; of or pertaining to the distinction between right and wrong, or good and evil, in relation to the actions, volitions, or character of responsible beings
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3 Confidential - for classroom use only Business Ethics Key issues Managerial ethics the study of morality and standards of business conduct, and Corporate social responsibility concerned with the obligations that corporations owe to the general citizenry, to society as a whole, and the actions they can take to benefit society Key questions Are ethics compatible with business? What does it mean to do right? What are the standards for doing right? What does it mean to have a duty? What does it mean to have a responsibility?
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Confidential - for classroom use only Ethical Issues? 1. An executive earning $100,000 a year padded his expense account by about $3,000 a year. 2. A corporation increased the annual compensation of its CEO from $5 million to $9 million over a four-year period in which profits declined and the dividend was cut. 3. A company paid a $350,000 “consulting” fee to an official of a foreign country. In return, the official promised assistance in obtaining a contract which should produce $10 million profit for the contracting company. 4. A company president found that a competitor had made an important scientific discovery, which would sharply reduce the profits of his own company. He then hired a key employee of the competitor in an attempt to learn the details of the discovery. 5. A company president recognized that sending expensive Christmas gifts to purchasing agents might compromise their positions. However, he continued the policy since it was common practice and changing it might result in loss of business. 6. A corporate executive promoted a loyal friend and competent manager to the position of divisional vice president in preference to a better qualified manager with whom he had no close ties. 7. A controller selected a legal method of financial reporting which concealed some embarrassing financial facts, which would otherwise become public knowledge. 8. As part of the marketing strategy for a product, the producer changed its color and marketed it as “new and improved,” even though its other characteristics were unchanged. 9. A cigarette manufacturer launched a publicity campaign challenging new evidence from the Surgeon General’s office that cigarette smoking is harmful to the smoker’s health. Adapted from Justin G. Longnecker, et al.,
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This note was uploaded on 04/07/2008 for the course BUSINESS 105 taught by Professor Aronhime during the Fall '08 term at Johns Hopkins.

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ethics - MANAGERIAL ETHICS and SOCIAL RESPONSIBILITY 1 Per...

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