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    Ethics in The World of Business: Topic 1

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    futbalz_amer
    Here are a few key points to consider in response to Jenny's dilemma: 1. Lying and deceiving others is unethical, even if done to gain a perceived advantage or fairness. While Jenny feels pressure from multiple responsibilities, intentionally misleading her school violates integrity and trust. 2. All students face various challenges balancing academics, jobs, family duties, etc. Rather than make assumptions about others' circumstances, Jenny could communicate respectfully with her professors to explain her situation and seek alternative accommodation if possible, such as an incomplete grade or late assignment policy. 3. In the long run, maintaining honesty and good character is more important for success and well-being than any single exam. With open communication and

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    Ethics in The World of Business: Topic 1

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    futbalz_amer
    37 views16 pages
    Here are a few key points to consider in response to Jenny's dilemma: 1. Lying and deceiving others is unethical, even if done to gain a perceived advantage or fairness. While Jenny feels pressure from multiple responsibilities, intentionally misleading her school violates integrity and trust. 2. All students face various challenges balancing academics, jobs, family duties, etc. Rather than make assumptions about others' circumstances, Jenny could communicate respectfully with her professors to explain her situation and seek alternative accommodation if possible, such as an incomplete grade or late assignment policy. 3. In the long run, maintaining honesty and good character is more important for success and well-being than any single exam. With open communication and

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    Here are a few key points to consider in response to Jenny's dilemma: 1. Lying and deceiving others is unethical, even if done to gain a perceived advantage or fairness. While Jenny feels pressure from multiple responsibilities, intentionally misleading her school violates integrity and trust. 2. All students face various challenges balancing academics, jobs, family duties, etc. Rather than make assumptions about others' circumstances, Jenny could communicate respectfully with her professors to explain her situation and seek alternative accommodation if possible, such as an incomplete grade or late assignment policy. 3. In the long run, maintaining honesty and good character is more important for success and well-being than any single exam. With open communication and

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    37 views16 pages

    Ethics in The World of Business: Topic 1

    Uploaded by

    futbalz_amer
    Here are a few key points to consider in response to Jenny's dilemma: 1. Lying and deceiving others is unethical, even if done to gain a perceived advantage or fairness. While Jenny feels pressure from multiple responsibilities, intentionally misleading her school violates integrity and trust. 2. All students face various challenges balancing academics, jobs, family duties, etc. Rather than make assumptions about others' circumstances, Jenny could communicate respectfully with her professors to explain her situation and seek alternative accommodation if possible, such as an incomplete grade or late assignment policy. 3. In the long run, maintaining honesty and good character is more important for success and well-being than any single exam. With open communication and

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    of 16

    Ethics in the World of Business

    Topic 1
    What is ethics?

    • The standards of moral behaviour, i.e.


    behaviour that is accepted by society as
    right versus wrong ( Nickels,2005).
    Personal Ethics

    • Ethics begins with each of us.

    • It is related to our upbringing which is


    influenced by socialization, culture and
    religion.
    Conduct of Business
    • Ethical issues are not only faced by managers but by all
    people, includes employees, consumers and members of
    the public.

    • Corporate activities affect all, and so conduct of


    business is a matter of concern for everyone with a
    stake in ethical management.

    • Ethical issues in business are closely tied up to


    important matters of public policy, to legislative and
    judicial processes of government.
    Business Decision Making
    • In making decision, business people most of the time are
    faced with questions about ethics in their relationship
    with customers, employees and members of society.

    • If ethically correct course of action is clear, they will act


    accordingly.

    • Exception occurs when there is uncertainty about ethical


    obligations in particular situations or when
    considerations of ethics conflict with demands of business.
    Cont…
    • Business people can rely to some extent on the everyday rules
    of right conduct. However, business activity also has some
    features that limit the applicability of our normal ethical views.

    • What we ought to do depends to some extent on situation and


    roles we occupy.

    • Slightly different rules or codes of ethics are needed to guide us


    in different departments of lives.
    Levels of Decision Making
    Three distinctive levels:
    1. Individual
    2. Organization
    3. Business system

    Identifying the appropriate level for a decision


    important, because an ethical problem may
    have no solution on the level it is approached.
    Three Points of View
    • Business decision making involves many factors, ethics
    is only one.

    • To understand the relevancy of ethics in business


    conduct; three viewpoints should be understood :

    – The economic – thinking about business benefits


    – The legal – thinking about administrative decision
    – The moral – thinking about what is the best thing to
    do
    Features of Moral Point of View
    1. Willingness to seek out and act on reasons
    2. Requires us to be impartial – must regard
    the interests of everyone including
    ourselves as equally worthy of
    consideration and equal weight in
    deciding what to do.
    An Integrated Approach
    Decision making in business involves an
    integration of all three points of view.

    Business ethics is the attempt to think clearly


    and deeply about the ethical issues in
    business and to arrive at conclusions that
    are supported by the strongest possible
    arguments.
    Ethics + Economics + Law
    Both economics and law are critical to
    business decision making and it would be
    helpful to observe ethical standards as
    means to the end of profit making.
    3 check questions when faced by an
    ethical dilemma in business decisions

    1) Is it legal?
    Am I violating any law or company policy?

    2) Is it balanced?
    Am I acting fairly?

    3) How will it make me feel about myself?


    Will I be happy after taking such actions?
    Case Study 1: The Job Dilemma
    • You have a long standing consulting relationship with a large
    consumer products company. This company represents 50% of your
    consulting revenues and is clearly your most important client.

    The CEO has called to ask you to commit a significant amount of


    time over the next couple if months to assist with a large merger
    project. The company is merging with a large conglomerate whose
    primary business is the sale and distribution of tobacco products.

    The CEO is relying on you to assist in facilitating a smooth


    integration of the two companies. You promised yourself that, since
    your father died of lung cancer, you would never work for a tobacco
    company.

    Is there a way that you can accept the consulting assignment and
    will still keep your promise to yourself? How will you handle this if
    you decide that you cannot work for the tobacco company?
    Short case 2 : Time Crunch
    Jenny has been working extra hours at her part time
    job in a clothing store. The store needs her help
    because the Mega Sale rush is starting to promote sales
    for the coming Hari Raya festival.

    She also needs the money to pay next semester’s


    tuition and to fix her car so that she can drive home for
    the long semester holidays. The coming holiday season
    also means the end of the semester, and unfortunately,
    final exams. Jenny simply doesn’t have time to study
    for all of her exams and also work the extra hours she
    needs.
    Case Study - Time Crunch (cont…)

    Something has to give, and she decides to fake being sick on the
    day of her biology exam so that she can take the make up exam the
    next week and have more time to study.

    She knows that it won’t be hard to get a note from the busy
    school health clinic saying that she’s too sick to take the exam. Her
    friend Debbie works there and can “ borrow “ a page of their
    letterhead stationery.

    “ Even if I have to lie, it’s fair that I get extra time to study, “
    Jenny tells herself,” because I have to work, and I can’t study all the
    time like students who get mommy and daddy to pay for
    everything.”
    Case Study - Time Crunch (cont…)

    1. Jenny seems to see her lie as a simple case of manipulating


    an unfair system. Is there anything wrong with
    manipulating the system? Is her strategy fair to the other
    students in her biology class?

    2. Jenny seems to justify her behaviour with a vague idea


    that “unfair” differences between people that have
    nothing to do with effort or intelligence such as wealth,
    should not be reflected in their grades.

    What do you think about her claim that she deserves


    more time to study than other students because they don’t
    have to earn money?

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