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    Chapter 1 Ethics and Business

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    Rhodora
    The document discusses business ethics, defining it as written and unwritten codes that govern decision making and behavior within a company. It outlines the importance of business ethics in building relationships and loyalty. Additionally, it examines factors that influence business ethics like policies, norms, and professionalism as well as developing moral judgment.

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    © All Rights Reserved
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    Chapter 1 Ethics and Business

    Uploaded by

    Rhodora
    49 views18 pages
    The document discusses business ethics, defining it as written and unwritten codes that govern decision making and behavior within a company. It outlines the importance of business ethics in building relationships and loyalty. Additionally, it examines factors that influence business ethics like policies, norms, and professionalism as well as developing moral judgment.

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    chapter 1 Ethics and Business

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    The document discusses business ethics, defining it as written and unwritten codes that govern decision making and behavior within a company. It outlines the importance of business ethics in building relationships and loyalty. Additionally, it examines factors that influence business ethics like policies, norms, and professionalism as well as developing moral judgment.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    49 views18 pages

    Chapter 1 Ethics and Business

    Uploaded by

    Rhodora
    The document discusses business ethics, defining it as written and unwritten codes that govern decision making and behavior within a company. It outlines the importance of business ethics in building relationships and loyalty. Additionally, it examines factors that influence business ethics like policies, norms, and professionalism as well as developing moral judgment.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 18

    Chapter 1

    Introduction

     “The principles and standards that define acceptable conduct in


    business.”
    Introduction(ctd)

     Business ethics can be defined as written and unwritten codes of principles and
    values that govern decisions and actions within a company.

     In the business world, the organization’s culture sets standards for determining
    the
    difference between good and bad decision making and behavior.
    General Business
    Ethics

     Ethics of human resource management.


     Ethics of sales and marketing.
     Ethics of production.
     Ethics of intellectual property, knowledge
    and skills
    Importance of Business
    Ethics

    Ethics influence and contribute to :


     Employee Commitment
     Investor and customer loyality
     Customer satisfaction
     Ability to build relationship with stakholders
     Greater earning
    Importance of Business
    Ethics (ctd)

     Public expects business to exhibit high levels of ethical performance and social
    responsibility.
     Encouraging business firms and their employees to behave ethically is to prevent
    harm to society.
     Promoting ethical behavior is to protect business from abuse by unethical
    employees or unethical competitors.
     High ethical performance also protects the individuals who work in
    business.
    Factors influencing Business
    Ethics
    Factors influencing Business
    Ethics
     Formal and informal policies and rules
     Norms for acceptable behavior
     Financial reward system
     Hiring practices
     Applications of legal behavior
     Degree to which professionalism is emphasized
     The company’s decision making processes
    Developing Moral
    Judgment
    Quot
    e

    “ Being Good is a Good Business “


    > Ethical issues
    Not reporting
    > Improve ethics
    misconduct

    BITF13A523
    Ethical Issues
    Categories
    Fairness and honesty
    Conflict of interest
    Communications
    Business relationships
    Fairness and honesty

     The heart of business ethics


    General values of
    decision makers

    Continues…..
    Conflict of interest

     Occurs when a person must choose


    whether to advance their own
    personal interest or those of others

    Continues…..
    Communication

     False and misleading advertising and


    deceptive personal-selling tactics anger
    customers and may cause a business to
    fail

    Continues…..
    Business
    relationships
     Business people must be ethical
    toward their customers, suppliers, and
    others in their workplace

    Continues…..
    Reasons for Not Reporting
    Observed Misconduct

    1.Didn’t believe corrective action


    2.Feared retribution from supervisor
    3.Feared they wouldn’t remain
    anonymous
    4.Thought someone else would report the misconduct
    5.Didn’t know who to contact
    Six Steps to Improve Business
    Ethics

    1.Top management support


    2.Expectations begin at the top
    3.Ethics imbedded in training
    4.Ethics office set up
    5.External stakeholders informed
    6.There must be enforcement

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