Topic Business Ethics Overview.ppt.....,

bussiness

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2. Objectives
Explain the concepts of business ethics and social
responsibility.
Analyze and judge common ethical dilemmas in the
workplace using case studies.
Identify the factors that influence ethical and unethical
business practices.
Describe the stages in the development of ethical
standards.

3. What are Business Ethics?
Business Ethics:
The standards of conduct and rules based on moral
principles governing how businesses and
employees should conduct themselves.
Social responsibility
Balance between what’s right and what’s profitable
Often no clear-cut choices
Often shaped by the organization’s ethical climate

4. Individuals can make unethical choices like:
Conflict of Interest
Bribery, gift-giving and receiving
Invasion of privacy or confidentiality
Dishonest hiring practices
Insurance Fraud / Credit Card Fraud
Internet Abuse
Conflict of Interest:
Situation in which a business decision may be influenced
for personal gain.
Unethical Business
Practices

5. Situation in which a business
decision may be influenced
for personal gain.
Telling the truth and
adhering to deeply felt
ethical principles in
business decisions.
Business people expect
employees to be loyal
and truthful, but ethical
conflicts may arise.
Employee’s disclosure
of illegal, immoral, or
unethical practices in
the organization.
On-the-Job Ethical
Dilemmas

6. How Organizations
Shape Ethical Conduct
Code of Ethics/Conduct:
A formal set of guidelines for maintaining ethics in the
workplace.
Codes of Ethics cannot detail a solution for every ethical
situation, so corporations provide training in ethical reasoning
along with a Code of Ethics.

7. Ethical Environment
Ethical Leadership:
Executives must
demonstrate ethical
behavior in their actions.
Ethical Action:
Helping employees
recognize and reason
through ethical problems and
turning them into ethical
actions.

8. Social Responsibility
https://www.youtube.com/watch?v=lnmvXSYt98c
Social Responsibility:
The duty to do what is best for the
good of society.
Management’s consideration of profit,
consumer satisfaction, and societal
well-being of equal value in evaluating
the firm’s performance.
Contributions to the overall economy,
job opportunities, and charitable
contributions and service.

9. CSR Examples
•Ben & Jerry’s •Warby Parker

10. CSR Examples
•Dawn •Disney Corporation

11. Public Health Issues: What to do about inherently
dangerous products such as alcohol, tobacco, vaccines, and
steroids.
Protecting the Environment: Using resources efficiently,
minimizing pollution.
Recycling: Reprocessing used materials for reuse.
Developing the Quality of the Workforce: Enhancing
quality of the overall workforce through education and
diversity initiatives.
Corporate Philanthropy: Cash contributions, donations of
equipment and products, and supporting the volunteer efforts
of company employees.
Responsibilities to
the General Public

12. The Right to Be Safe: Safe operation of products, avoiding
product liability.
The Right to Be Informed: Avoiding false or misleading
advertising and providing effective customer service.
The Right to Choose: Ability of consumers to choose the
products and services they want.
The Right to Be Heard: Ability of consumers to
express legitimate complaints to the appropriate parties.
Responsibilities to
Customers

13. Responsibilities to
Employees
Workplace Safety: Monitored
by (OSHA) Occupational Safety
and Health Administration.
Quality-of-Life Issues:
Balancing work and family
through flexible work schedules,
subsidized child care, and
regulation such as the Family
and Medical Leave Act of 1993.
Ensuring Equal Opportunity
on the Job: Providing equal
opportunities to all employees
without discrimination; many
aspects regulated by law.
US Equal Employment
Opportunity Commission
(EEOC): Discrimination by
Type protected by EEOC -
Protects workers against many
different types of
discrimination.
Sexual Harassment and
Sexism: Avoiding unwelcome
actions of a sexual nature;
equal pay for equal work
without regard to gender.

14. Responsibilities to
Investors
Obligation to make profits for shareholders.
Expectation of ethical and moral behavior.
Investors protected by regulation by the Securities and
Exchange Commission and state regulations.