Ethics is more than legality
Ethics
? Standards of moral behavior; behavior that is accepted by society as right versus wrong.
Ethics begins wit each of us
? It is helpful to ask yourself the following questions when facing an ethical dilemma.
o It is legal?
o It is balanced? Am I acting fairly? Would I want to be treated this way?
o How will it make me feel about myself? Would I feel proud if my family learned of my decision? My friends?
Managing Businesses Ethically and Responsibly
? People learn their standards and values from observing what others do, not from hearing what they say.
? A business should be managed ethically for many reasons:
o to maintain a good reputation
o to keep existing customers
o to attract new customers
o to avoid lawsuits
o to reduce employee turnover
o to avoid government intervention
o to please customers, employees, and society
o simply to do the right thing
? Ethic of justice is based on principles like justice, fairness, equality, or authority.
? Ethic of care is based on a sense of responsibility to reduce actual harm or suffering.
Setting Corporate Ethical Standards
Compliance-based ethic codes
? Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers.
Integrity-based ethic codes
? Ethical standards tha ...