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BBM 416 - Business Ethics - Introductory Notes
BBM 416 - Business Ethics - Introductory Notes
Defining Ethics
Ethical Behavior and Good Business
Business Values
Principles of Ethical Decision Making
Using Decision Making Skills for Ethical Decisions
Codes of Ethics
Principles for Business
Defining Ethics
3
Values
Basic beliefs about what one should or should not do, and what
is and is not important
Organizational Culture
Represent the values and behaviors common to the organization
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Business Values
1. Morality
To act in a moral way, i.e. to do what is good and right, involving
self—restraint and discipline, in terms of accepted social norms.
2. Honesty
To talk straight and to walk one’s talk - no lies.
3. Integrity
No double standards.
4. Equity
To act in a fair way, i.e. there is no unjustified enrichment at the
expense of another. No acceptance of bribes.
16. Loyalty
Reliable and trustworthy commitment to employees and persons
with whom one has dealings.
17. Fairness
Treating people properly and not taking advantage of them.
18. Respect for others
Respect in relationships between superior and subordinate, and
between the business and its suppliers and customers.
Principles of Ethical Decision Making
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Principle of Government
Requirements
Act
Japheth K. Kogei: japheth1@gmail.com Wednesday, April 5, 2023
A Basic Model of Ethical Decision Making
1. Identify the problem. What makes it an ethical
problem? Think in terms of rights, obligations, fairness,
relationships, and integrity. How would you define the
problem if you stood on the other side of the fence?
Codes of Ethics
Ethics Training
Ethical Climate
Step 1: Select the top five to ten ethical values that reflect the priorities
of the corporation, e.g. honesty, transparency, equality, integrity,
morality, etc.
Step 2: Establish the organization's rules to manage ethics, e.g. start with a list
of dos and don’ts. Define the organization's operating values and
behaviours, e.g. excellence, enterprise, authority, accountability, equity,
etc
Step 3: Establish an ethics committee to manage and monitor the process.
Step 8: Review and refine the code, where necessary, to enhance its
effectiveness and improve its moral standards.
Step 9: The code should be launched and initiated publicly by the board
of directors and senior management.
Ethics Training
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PRINCIPLES FOR BUSINESS
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Principle 9. Employees
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Principle 9. Employees
Listen to and, where possible, act on employee
suggestions, ideas, requests, and complaints;
Protect employees from avoidable injury and illness
in the workplace;
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Principle 11. Suppliers
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Principle 12. Competitors
Secure advantages;