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  • HV Will: The The 2 3the For Inthe of and

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    Bob White
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    This document discusses key concepts in business ethics including what constitutes ethical and unethical behavior in a business context. It outlines approaches to ethical reasoning such as duty-based ethics focused on individuals' duties to others, and outcome-based ethics focused on impacts. It also discusses the relationship between law and ethics, noting that just because something is legal does not make it ethical. Major frameworks for ethical decision making are outlined, including utilitarianism which evaluates actions based on greatest good for greatest number, and stakeholder theory which considers how decisions affect groups like employees, customers and community.

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    Ch2 Business Ethics

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    This document discusses key concepts in business ethics including what constitutes ethical and unethical behavior in a business context. It outlines approaches to ethical reasoning such as duty-based ethics focused on individuals' duties to others, and outcome-based ethics focused on impacts. It also discusses the relationship between law and ethics, noting that just because something is legal does not make it ethical. Major frameworks for ethical decision making are outlined, including utilitarianism which evaluates actions based on greatest good for greatest number, and stakeholder theory which considers how decisions affect groups like employees, customers and community.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    10 views2 pages

    HV Will: The The 2 3the For Inthe of and

    Uploaded by

    Bob White
    This document discusses key concepts in business ethics including what constitutes ethical and unethical behavior in a business context. It outlines approaches to ethical reasoning such as duty-based ethics focused on individuals' duties to others, and outcome-based ethics focused on impacts. It also discusses the relationship between law and ethics, noting that just because something is legal does not make it ethical. Major frameworks for ethical decision making are outlined, including utilitarianism which evaluates actions based on greatest good for greatest number, and stakeholder theory which considers how decisions affect groups like employees, customers and community.

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    © All Rights Reserved
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    Flag for inappropriate content
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    of 2

    BusinessEthics

    Ethics moralprinciplesandvaluesappliedtosocialbehavior

    BusinessEthicswhatconstitutesrightorwrongbehaviorandtheapplicationofmoralprinciplesin a businesscontext

    withtheriseof corporatecitizenship businessethicshasbecameveryimportant


    asviewedas acitizen expected toparticipateinbetteringcommunitiesandsociety
    corporator

    TripleBottomLinefocusesas aCorporation's profits impactonpplandimpacton theplanet

    Whenmakingbusinessdecisions aCorporationshouldfocuson
    1 thelegalimplicationsofeachdecision
    2thepublicrelationsimpact
    3thesaffeyrisksforconsumersandemployees
    4thefinancialimplications

    businesseshvtoconsiderhowtheredecisionswillinfluencetheir
    profitsinthelongrun
    unethicalbehaviorcannegativelyimpactbusinessesimage

    TheRelationshipofLawandEthics
    lawdoesnotcodify anethicalrequirementsof anpersons

    moralminimumtheminimumdegreeof ethicalbehaviorexpectedof abusinessfirm whichisusuallydefinedascompliancewthe


    law
    justbecauseanactionislegaldoesnotmean it isethical
    mostcompanies attempttoIinkethicsandkn wi an internalcodeofethics
    setofrulesthecompanycanenforce
    Approaches toEthicalReasoning

    Ethicalreasoning areasoningprocessinwhichaninwww.ailinwshisorhermoralconvictionsorethicalstandardstotheparticularsituationat
    hano

    2Majorcategories
    1 buoybasedethicsethicalphilosophyrootedintheDeathateverypersonhascertaindutiestoothers in bothhumans plant
    during
    thesedutiesmaybewiredfromreligious
    principlesorother
    p hilosophical
    reasoning

    principle ofRights thebeliefthathumanbeingshvcertainfundamentalrightsTheethicacyof adecision oractiondependshow


    itaffectstherightsofvariousgrapes ownersemployeesconsumerscommunity

    CategoricalImperative anethicalguilelinebumpedbyImmanuelKartunderwhichanactionisevaluatedintermsofwhatwano
    happenifeverybodyelseinthesamesituation orcategory actedthesame
    way
    2 outcamebasedethicsethicalphilosophyfocuses ontheimpacts of adecisionon society or ankeystakehobers
    Utilitarianism approach toethicalreasoninginwhichanactionisevaluatedintermsofitsconsequencesforthosewhom itwineffect
    a gods actionisonethat resultsinthe greatestgoodforthegreatest ofppl
    CostBenefitAnalysis adecisionmakingtechniquethatinvolvesweighingthecostsof agivenactionagainstthebenefitsofthataction

    CorporateSocialResponsibility CSR ideathatcorporationscananoshouldactethicallyanbbeaccountabletosocietyfor


    their
    actions

    Stakeholders groupsotherthanshareholders thatareaffectedbycorporatedecisions


    ex employeescustomerscreditorssuppiers community

    ASystematicApproachtoEthicalDecisionMaking
    Inquiry understatethepblin
    Discussion listpossibleactions
    Decision crafta consensus decision orplan ofaction
    Justificationarticulatesreasonsfortheproposedaction
    Evaluation Solutionis analyzed determineif itwaseffective
    to

    importanttoalwaysconsiderethicalimplicationswhendealing w foreignerswhosemoralitymaybedifferent
    than our arm

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