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    Business Ethics Chapter Four

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    Abdirizak Ali Abdillahi
    This document discusses key concepts in business ethics including defining ethics, ethical conduct, and codes of conduct. It also examines applying ethics to corporations and addresses globalization, cultural differences, and technology related issues in business ethics. Specific principles of ethical conduct discussed are competing fairly, communicating truthfully, and not causing harm to others.

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    Business Ethics Chapter Four

    Uploaded by

    Abdirizak Ali Abdillahi
    27 views18 pages
    This document discusses key concepts in business ethics including defining ethics, ethical conduct, and codes of conduct. It also examines applying ethics to corporations and addresses globalization, cultural differences, and technology related issues in business ethics. Specific principles of ethical conduct discussed are competing fairly, communicating truthfully, and not causing harm to others.

    Original Description:

    Abdisamed allaale

    Original Title

    BUSINESS ETHICS CHAPTER FOUR

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    This document discusses key concepts in business ethics including defining ethics, ethical conduct, and codes of conduct. It also examines applying ethics to corporations and addresses globalization, cultural differences, and technology related issues in business ethics. Specific principles of ethical conduct discussed are competing fairly, communicating truthfully, and not causing harm to others.

    Copyright:

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

    Business Ethics Chapter Four

    Uploaded by

    Abdirizak Ali Abdillahi
    This document discusses key concepts in business ethics including defining ethics, ethical conduct, and codes of conduct. It also examines applying ethics to corporations and addresses globalization, cultural differences, and technology related issues in business ethics. Specific principles of ethical conduct discussed are competing fairly, communicating truthfully, and not causing harm to others.

    Copyright:

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

    CHAPTER FOUR

    ETHICAL PRINCIPLES IN BUSINESS


    Ethics
    • Ethics is the study of moral
    standards, the process of
    examining the moral standards of
    a person or society to determine
    whether these standards are
    reasonable or unreasonable in
    order to apply them to concrete
    situations and issues.
    Concept of Ethical Conduct
    • Having known the meaning and
    importance of business ethics, we
    can see that wanting to be an
    ethical corporate citizen is not
    enough; individuals in business
    must actively practice ethical
    conduct.
    Cont…
    • In business, besides obeying
    laws and regulations, a good
    and ethical conduct involves
    the followings.
    Competing fairly and honestly:
    • businesses are expected to
    compete fairly and honestly and
    not knowingly deceive, intimidate,
    or misrepresent customers,
    competitors, clients, or
    employees.
    Communicating truthfully:
    • Ethical conduct requires that
    companies refrain from issuing
    false or misleading
    communications.
    • Businesses should recognise that
    their communications reflect their
    image and therefore refrain from
    untruthful, offensive and
    misleading communications.
    Not causing harm to others:

    • Some business executives put


    their own personal interests
    ahead of that of employees
    and shareholders thereby
    causing harm to them.
    Cont…
    • Corporate managers can mislead
    investors by withholding vital
    information; they sometimes take
    advantage of the investor by using
    the company’s earnings or
    resources for personal gain.
    Code of Conduct
    • A code of conduct is a written
    statement, setting forth the
    principles that guide an
    organisation’s decision.
    • An effective code of conduct
    requires the following.
    Cont…
    • Top management commitment
    • Employee communications efforts
    • Employee commitment to follow it.
    • Formal training programmes
    • A system that supports reporting
    unethical or illegal actions at work
    • A system of action.
    Applying Ethics to Corporate Organisations

    • The statement that corporate


    organisations can be ethical or
    unethical raises a puzzling
    issue.
    Globalisation, Multinational and
    Business Ethics
    • Many of the most pressing
    issues in business ethics
    today are related to the
    phenomenon of globalization.
    Cont…
    • Globalization is the worldwide
    process by which the economic
    and social systems of nations have
    become connected together so that
    goods, services, capital, knowledge
    and cultural artifacts are traded
    and moved across national
    borders, at an increasing rate.
    Business Ethics and Cultural Differences

    • When faced with the fact that


    different cultures have different
    moral standards, the managers of
    some multinationals have adopted
    the theory of ethical relativism.
    Cont…
    • Ethical relativism is the theory that,
    because different societies have
    different ethical beliefs, there is no
    rational way of determining whether
    an action is morally right or wrong
    other than by asking whether the
    people of this or that society believe
    it is morally right or wrong.
    Business Ethics and Technology
    • Technology consists of all
    those methods, processes, and
    tools that humans invent to
    manipulate their environment.
    Cont…
    • To an extent never before realised
    in history, contemporary business
    is being continuously and
    radically transformed by the rapid
    evolution of new technologies that
    raise new ethical issues for
    business.

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