Chapt2 Of Ethics
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Transcript of Chapt2 Of Ethics
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Chapter 2
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The Nature of Ethics
Ethics The inner-guiding moral
principles, values, and beliefs that
people use to analyze or interpret a
situation and then decide what is the
right or appropriate way to behave
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The Nature of Ethics
Ethical Dilemmaquandary people find themselves in
when they have to decide if they
should act in a way that might helpanother person even though doing somight go against their own self-
interest
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Ethics and the Law
Neither laws nor
eth ics are f ixed
pr incip les
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Stakeholders and Ethics
Stakeholders
The people and groups that supply a
company with its productive resources
and have a claim on its resources
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Managers
Responsible for using a companysfinancial capital and human resourcesto increase its performance
Have the right to expect a good returnor reward by investing their humancapital to improve a companys
performanceFrequently juggle multiple interests
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Employees
Companies can act ethically toward
employees by creating an
occupational structure that fairly and
equitably rewards employees for their
contributions
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Suppliers and Distributors
Suppliers expect to be paid fairly and
promptly for their inputs
Distributors expect to receive quality
products at agreed-upon prices
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Customers
Most critical stakeholder
Company must work to increase
efficiency and effectiveness in order tocreate loyal customers and attract
new ones
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Ethical Decision Models
Moral Rights rule
Decision that best maintains and protects
the fundamental or inalienable rights and
privileges of the people affected by it
Justice rule
Decision that distributes benefits and
harms among people and groups in a fair,
equitable, or impartial way
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Ethical Decision Models
Practical rule
- Decision that a manager has no
hesitation about communicating topeople outside the company because
the typical person would think it is
acceptable
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Practical Decision Model
1. Does my decision fall within theacceptable standards that apply inbusiness today?
2. Am I willing to see the decisioncommunicated to all people and groupsaffected by it?
3. Would the people with whom I have a
significant personal relationship approveof the decision?
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Why should managers behave ethically?
The relentless pursuit of self-interest
can lead to a collective disaster when
one or more people start to profit from
being unethical because this
encourages other people to act in the
same way
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Trust and Reputation
Trustpersons
confidence and
faith in another
persons goodwill
Reputation esteem
or high repute that
individuals or
organizations gainwhen they behave
ethically
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Societal Ethics
Standards that govern how members ofa society should deal with one anotherin matters involving issues such as
fairness, justice, poverty, and therights of the individual
People behave ethically because they have
internalized certain values, beliefs, andnorms
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Occupational Ethics
Standards that govern how members of a
profession, trade, or craft should conduct
themselves when performing work-related
activities
Medical & legal ethics
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Individual Ethics
Personal standards and values thatdetermine how people view theirresponsibilities to other people and
groups How they should act in situations when
their own self-interests are at stake
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Organizational Ethics
Guiding practices and beliefs through
which a particular company and its
managers view their responsibility
toward their stakeholders
Top managers play a crucial role in
determining a companys ethics
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Social Responsibility
Way a company views its duty or
obligation to make decisions that
protect, enhance, and promote the
welfare and well-being of stakeholders
and society as a whole
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Approaches to Social Responsibility
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Role of Organizational Culture
Ethical values and norms help
organizational members:
Resist self-interested action
Realize they are part of something bigger
than themselves
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Ethics Ombudsman
Manager responsible for
communicating and teaching ethical
standards to all employees and
monitoring their conformity to those
standards