Business Ethics Fundamentals power point

8/10/2019 Business Ethics Fundamentals power point

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Business Ethics Fundamentals

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Chapter Outline

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Business Ethics and

Public Opinion

What Does Business

Ethics Mean? Ethics, Economics

and Law: Venn

Model

Four Important EthicsQuestions

Three Models ofManagement Ethics

Making MoralManagementActionable

Developing MoralJudgment

Elements of MoralJudgment

Summary


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Introduction

3

Business Ethics

Publics interest in business ethics increased

during the last four decades

Publics interest in business ethics spurred by themedia


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Introduction

4

Inventory of Ethical Issues in Business

Employee-Employer Relations Employer-Employee Relations

Company-Customer Relations

Company-Shareholder Relations

Company-Community/Public Interest


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Publics Opinion of Business Ethics

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Gallup Poll finds that only 17 percent to 20 percentof the public thought the business ethics ofexecutives to be very highor high

To understand public sentiment towards business

ethics, ask three questions Has business ethics really deteriorated?

Are the media reporting ethical problems morefrequently and vigorously?

Are practices that once were socially acceptable nolonger socially acceptable?


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Business Ethics: What Does It Really Mean?

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Ethical Problem

Ethical

Problem

Societys

Expectations

of Business

Ethics

Actual

Business

Ethics

1950s Early 2000sTime

Business Ethics:Today vs. Earlier Period


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Business Ethics: What Does It Really

Mean?

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Definitions Ethicsinvolves a discipline that examines good

or bad practices within the context of a moral duty

Moral conductis behavior that is right or wrong

Business ethicsinclude practices and behaviorsthat are good or bad


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Business Ethics: What Does It Really

Mean?

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Two Key Branches of Ethics Descriptive ethicsinvolves describing,

characterizing and studying morality

What is Normative ethicsinvolves supplying and

justifying moral systems

What should be


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Conventional Approach to Business

Ethics

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Conventional approach to business ethicsinvolves a comparison of a decision or practice to

prevailing societal norms

Pitfall: ethical relativism

Decision or Practice Prevailing Norms


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Sources of Ethical Norms

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Fellow Workers

Family

Friends

The Law

Regions of

Country

Profession

Employer

Society at Large

Fellow Workers

Religious

Beliefs

The Individual

Conscience


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Making Ethical Judgments

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Behavior or act

that has been

committed

Prevailing norms

of acceptability

Value judgments

and perceptions ofthe observer

compared with


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Four Important Ethical Questions

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What is?

What ought to be?

How to we get from what is to what ought to be?

What is our motivation for acting ethically?


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3 Models of Management Ethics

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1. Immoral ManagementA style devoid ofethical principles and active opposition to

what is ethical.

2. Moral ManagementConforms to highstandards of ethical behavior.

3. Amoral Management

Intentional - does not consider ethical factors

Unintentional - casual or careless about ethicalconsiderations in business


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3 Models of Management Ethics

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Three Types Of Management Ethics


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Three Approaches to Management

Ethics

6-18


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Three Models of Management

Morality and Emphasis on CSR

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Moral Management Models and

Acceptable Stakeholder Thinking

6-20


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Making Moral Management

Actionable

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Important Factors Senior management

Ethics training Self-analysis

D l i M l J d t


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Developing Moral Judgment

6-22


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6-23


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External Sources of a

Managers Values Religious values

Philosophical values

Cultural values

Legal values Professional values


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Internal Sources of a ManagersValues

Respect for the authority structure

Loyalty

Conformity

Performance

Results


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Elements of Moral Judgment

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Moral imagination Moral identification and ordering

Moral evaluation

Tolerance of moral disagreement and ambiguity

Integration of managerial and moral competence

A sense of moral obligation


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Elements of Moral Judgment

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Amoral Managers Moral Managers

Moral Imagination

Moral IdentificationMoral Evaluation

Tolerance of Moral Disagreement

and Ambiguity

Integration of Managerial and MoralCompetence

A Senses of Moral Obligation


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Selected Key Terms

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Amoral management Business ethics

Compliance strategy

Conventional approach

to business ethics

Descriptive ethics

Ethical relativism

Ethics

Feminist Ethics

Immoral management

Integrity strategy Intentional amoral

management

Kohlbergs levels of

moral development

Moral development

Moral management

Normative ethics

Unintentional amoral

management


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Selected Key Terms

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Amoral management

Business ethics

Ethics

Immoral management

Levels of moral development

Moral management

Morality

Documents

Business Ethics Fundamentals power point