Scribd Logo
Upload

Welcome to Scribd!

  • 373 views

    Topic 1 - Ethics and Business

    Uploaded by

    oikz
    This document discusses the importance of business ethics and provides definitions and explanations of key concepts. It addresses five learning outcomes: 1) explaining why positive business ethics is important, 2) explaining the nature of business ethics as an academic discipline, 3) distinguishing ethics of personal integrity from social responsibility, 4) distinguishing ethical norms from other business norms, and 5) distinguishing legal from ethical responsibilities. The document provides examples and definitions to illustrate these concepts. It emphasizes that ethical decision making is a rational process that considers facts, alternatives, consequences for stakeholders, and ethical principles.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Topic 1 - Ethics and Business

    Uploaded by

    oikz
    373 views13 pages
    This document discusses the importance of business ethics and provides definitions and explanations of key concepts. It addresses five learning outcomes: 1) explaining why positive business ethics is important, 2) explaining the nature of business ethics as an academic discipline, 3) distinguishing ethics of personal integrity from social responsibility, 4) distinguishing ethical norms from other business norms, and 5) distinguishing legal from ethical responsibilities. The document provides examples and definitions to illustrate these concepts. It emphasizes that ethical decision making is a rational process that considers facts, alternatives, consequences for stakeholders, and ethical principles.

    Original Description:

    introduction slide for ethics and business

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document discusses the importance of business ethics and provides definitions and explanations of key concepts. It addresses five learning outcomes: 1) explaining why positive business ethics is important, 2) explaining the nature of business ethics as an academic discipline, 3) distinguishing ethics of personal integrity from social responsibility, 4) distinguishing ethical norms from other business norms, and 5) distinguishing legal from ethical responsibilities. The document provides examples and definitions to illustrate these concepts. It emphasizes that ethical decision making is a rational process that considers facts, alternatives, consequences for stakeholders, and ethical principles.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    373 views13 pages

    Topic 1 - Ethics and Business

    Uploaded by

    oikz
    This document discusses the importance of business ethics and provides definitions and explanations of key concepts. It addresses five learning outcomes: 1) explaining why positive business ethics is important, 2) explaining the nature of business ethics as an academic discipline, 3) distinguishing ethics of personal integrity from social responsibility, 4) distinguishing ethical norms from other business norms, and 5) distinguishing legal from ethical responsibilities. The document provides examples and definitions to illustrate these concepts. It emphasizes that ethical decision making is a rational process that considers facts, alternatives, consequences for stakeholders, and ethical principles.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 13

    Topic 1: Ethics and Business

    Learning Outcomes
    1. Able to explain the reasons as to why positive business ethics
    is important in the business environment.
    2. Able to explain the nature of business ethics as an academic
    discipline.
    3. Able to distinguish the ethics of personal integrity from the
    ethics of social responsibility.
    4. Able to distinguish ethical norms and values from other
    business-related norms and values.
    5. Able to distinguish legal responsibilities from ethical
    responsibilities.

    Why is ethics important in


    the business environment?
    1. Unethical behavior not only creates legal risks for a business, it
    creates financial and marketing risks as well.
    2. Managing these risks requires managers and executives to remain
    vigilant about their companys ethics.
    3. A firms ethical reputation can provide a competitive advantage,
    or disadvantage, in the marketplace and with customers,
    suppliers, and employees.
    4. Managing ethically can also pay significant dividends in
    organizational structure and efficiency.
    5. Trust, loyalty, commitment, creativity, and initiative are just some
    of the organizational benefits that are more likely to flourish within

    The nature of business ethics


    Business and marketing activities and/vs. ethical
    concerns (moral values)
    1. Excessive intake of food!
    2. Excessive personal borrowing!
    3. Subliminal advertising!
    4. Cost cutting and saving!
    How could the relationship be managed!

    Definitions
    Ethics (p.593) = ethos. Refers to those values, norms,
    beliefs, and expectations that determine how people
    within a culture live and act.
    Values (p.598). Those beliefs that incline us to act or
    choose in one way rather than another.
    Ethical values (p.593). Those properties of life that
    contribute to human well-being and life well lived, such
    as happiness, respect, dignity, integrity, freedom,

    3. Ethics of personal integrity and


    ethics of social responsibility
    Business Ethics as Personal Integrity
    - Behavior are influenced by social context.
    - Personal ethics have impact on perception of trust and
    creditability.
    Business Ethics as Social Responsibility
    - Businesses are enacting corporate environment.
    - Business ethics impact on long term corporate
    reputation.

    How do we live?
    As an individual; As a member of a society; As an
    employee in a business; As a leader in society; As a
    business leader; As a corporation; As an organization.
    Our action (behaviour) speak of our ethics.
    So our actions in conducting our business speak of our
    business ethics.

    4. Ethical norms and values versus other


    business-related norms and values
    Ethical norms and values.
    The norms refers to standards of appropriate and proper (or normal)
    behavior. But what are they?
    - What did you do in the recent big flood? What people would normally do?
    Business-related norms and values.
    - What did corporations do in the recent big flood? What companies would
    normally do?
    -

    What could have been done? What should have been done?

    Norms and values


    Norms
    - Norm establish the guidelines or standards for determining
    what we should do, how we should act, what type of person
    we should be?
    - Norm appeal to certain values that would be promoted or
    attained by acting in a certain way.
    - Normative disciplines presuppose some underlying values.
    Values
    - Values are the underlying beliefs that incline us to act or
    to decide one way rather than another.
    - Ethical values serve the ends of human well-being.

    5. Legal responsibilities and


    ethical responsibilities
    - The law provides an important guide to ethical decision-making. But legal
    norms and ethical norms are not identical nor do they always agree.
    - Some actions are not legally required though they may be ethically warranted
    (and meet ethical standards).
    - Some actions that may be legally permitted fail many ethical standards.
    - Would a business fulfills its social responsibility simply by obeying the law?
    - Individual businesses may decide to go beyond the legal minimum, but these
    choices are voluntary and a matter of corporate philanthropy and charity.

    6. Ethical responsibilities go
    beyond legal compliance
    Could you cite an example of a law in Malaysia?
    Perhaps on treatment of employees, customers
    etc.
    Could you cite examples of actions taken by
    businesses in Malaysia (their behaviours) in
    responding to this law?

    7. Ethical decision making is


    a form of practical reasoning.
    Ethical decision-making process (p.593).
    - A rational process.
    - Requires a persuasive and rational justification.
    - Goes through a logical process of decision making.
    - Takes into account of facts, alternatives, consequences to
    stake holders, and ethical principles.

    Rizals caf.
    Rizal caf is open for business! It targets neighbourhood shopping centres.
    Its layout offers a separate area for men and women. It serves only local
    coffee it buys local coffee beans directly from local farmers and roasts
    them in-house. It does offer local tea and other hot drinks as well as fruit
    juices. But it shuns carbonated drinks. Its a non-smoking caf and it
    prohibits mobile phone conversation in the caf. It does not offer free wi-fi.
    It has a reading corner and a stock of books for customers to borrow
    mainly novels. Its menu comprises, arguably, health products - low fat and
    low sugar. It avoids serving products made from refined flour, rice and
    sugar. Once in a month, it organises a day for free advices given by
    professionals: medical doctors, gym instructors, lawyers, nutritionists, and
    the like. It hires just about anyone who are willing to undergo a month
    training and has passed its training programme.

    Questions
    1. Have the management of Rizal caf made ethical
    decisions?
    2. What are the facts?
    3. What are the issues?
    4. What are the alternatives?
    5. Who are the stakeholders?
    6. What are the consequences of various
    actions/behaviours to stake holders?

    You might also like