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Business Ethic

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Basic concept of Business Ethic.

Publicado en: Empresariales
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Business Ethic

  1. 1. Business Ethics
  2. 2. Introduction  Class  Rules of engagement  Communication mode  Participation  Questioning  Open but within etiquettes  Any response to above
  3. 3. Ethics - Origin  Ethos (Greek)  “Character” and “sentiment of the community”  Ethikos (Greek) – authority of custom and tradition  Mos (Latin) – moral, mores and Morales  Referring to:  Customs  Habits of life  Traditions of people
  4. 4. Carroll & Gannon (1997)  Specific Def. (Shea, 1988)  “the principles of conduct governing an individual or a profession”  “standards of behaviour”  Ethical Standards  Help to guide decisions and actions  Whether Individual, corporations, professions, nations  “rules or standards that govern behaviours” (Toffler, 1986)
  5. 5. Ethics Defined  “Customary norms and ways of behaving in a society” (Hegel)  “Character” and “sentiment of the community”  “the principles of conduct governing an individual or a profession….standards of behaviour” (Shea, 1988)  “rules or standards that govern behaviours” (Toffler, 1986)  “the basic ground rules by which individual acts. We often give complex explanations of our actions, but in fact we act for simple reasons. The ground rules are a framework for defining which actions are personally permissible, and which are not” (Drummond & Bain,1994)
  6. 6. Ethics Defined (Contd.)  “how people try to live their lives according to a standard of “right” and “wrong” behaviour – in both how we think and behave towards others and how we would like them to think and behave towards us.” (Ghillyer, 2010)  Societal perspective  “inquiry into the nature of grounds of morality where the term morality is taken to mean judgements, standards and rules of conduct.” (O.C. Ferrell)  Ethical Standards  Help to guide decisions and actions  Whether Individual, corporations, professions, nations
  7. 7. Business Ethics  “Business ethics is the study of how personal moral norms apply to the activities and goals of commercial enterprise. It is not a separate moral standard, but the study of how the business context poses its own unique problems for the moral person who acts as an agent of this system” (Laura Nash)  Falls into three basic areas of managerial decision making  Choices about the law  Choices about the economic and social issues that are beyond the law’s domain  Choices about the pre-eminence of one’s own self-interest
  8. 8. Business Ethics (Contd.)  “Business ethics involves the application of standards of moral behaviour to business situations” (Ghillyer, 2010)  The application of ethical standards to business behaviour  “the principles and standards that guide behaviour in the world of business” (O.C. Ferrell)
  9. 9. Business Ethics (Contd.)  Who determines the actions as right or wrong  Investors  Employees  Customers  Interest groups  The legal system  The community  Approaches  Descriptive  Normative
  10. 10. Lacking BE  Ethical misconduct  NBES  Volume of organization  Level of management  Accounting frauds, conflicts of interests, defective products, harassment, abusive behaviour, employee theft and bribery  Harris Interactive Poll – perception of trust  Enron, WorldCom, Anderson Worldwide, Global Crossing, Adelphia etc.  Involvement of individuals, Corporations, Govt officials, Researchers, Sports  Judgement of decisions – SOCIETY  Reasons
  11. 11. Developments  1960  Ethical Climate  Social Unrest  Anti-war sentiment  Loyalty to employer – loyalty to ideals  Major Ethical Dilemmas  Environment  Employee-employer tension  Civil rights  Honesty  Work ethics  Drug  BE Developments  Code of conducts & value statements  Social responsibility  Legal / Personnel departments
  12. 12. Developments (Cntd.)  1970  Ethical Climate  Scandals  Recession  Unemployment  Heightened environment concerns  Public pressure over business accountability  Ethical Dilemmas  Employee militancy  Human rights  Firm’s covering rather than correcting  BE Developments  ERC – 1977  Compliance with law  Foreign Corrupt Practices Act  Values movement
  13. 13. Developments (Cntd.)  1980s  Ethical Climate  Social contract  Stringent rules – defence contractor  Downsizing & loyalty to employer eroded  Health care emphasized  Ethical Dilemmas  Bribes & illegal practices  Influence paddling  Deceptive advertising  Financial frauds  Transparency  BE Developments  Code of Ethics for Government Service - 1980  Defence industry initiative  Ethic officers – Ombudsman  False Claims Act
  14. 14. Developments (Cntd.)  1990s  Ethical Climate  Global expansion  Child labour  Environment  Internet / Cultural borders  Forbidden - common  Ethical Dilemmas  Unsafe work practices -3rd world  Increased corporate liability  Financial mismanagement and fraud  BE Developments  Federal sentencing guidelines for organizations  Lawsuits  Global Sullivan Principles  Board responsibility  Voluntary disclosure – annual reports issuance on ethics
  15. 15. Developments (Cntd.)  2000s  Ethical Climate  Economic growth – financial failures  High profile firms  Personal data  Hackers & data thieves  Aggression and fundamentalism  Ethical Dilemmas  Cyber crimes  Privacy  Financial mismanagement  International corruption  Loss of privacy  IP  SD
  16. 16. Developments (Cntd.)  BE Developments  Sarbanes Oxley Act -2002  Anticorruption  CSR and Integrity Management  UN Convention -2003  UN Global Compact – 2004  Revised Federal Sentencing Guidelines – 2004  Ethics programs
  17. 17. Ethical Culture and Benefits  Organizational  Ethics Officer  NYSE  UPS  Baxter Intl  Global  The Caux Round Table  NAFTA, WTO, EU,  Benefits  Employee commitment  Investor loyalty  Customer satisfaction  Profits
  18. 18. Levels of BE International Level Societal Level Association Level Organizational level Individual level
  19. 19. End of Session  Book: Business Ethics: Ethical Decision Making and Cases By O.C. Ferrell, John Fraedrich and Linda Ferrell  Write down your strengths and weaknesses on a page and submit
  20. 20. Outline Chap1 & 2  The importance of Business Ethics  Understanding Business Ethics  Why study BE  Evolution of BE  Benefits  Stakeholder Relationships, Social Responsibility and Corporate Governance  Stakeholder relationship  Stakeholder influence in CSR  Corporate Governance  Relevant Cases  Wall-Mart – P292  The Fall of Enron – P318  PETCO - 422

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