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