CHAPTER 1CHAPTER 1INTRODUCTIONINTRODUCTIONOverview of CourseOverview of Course1. Fundamentals of Values, Ethics, and Morality2. Business Ethics In Global Economy3. Ethics, Values and the Manager. E!olution of Moral and Ethical "houghts#. $ormati!e Ethics%. Ethics of Virtue and &haracter'. E!olution of Business and Economy in the Mar(et )ociety*. Foundation of Business+. En!ironment of Business1,. &or-orate .o/er and its Im-act on )ociety and )ta(eholders11. &or-orate )ocial 0es-onsibility12. &or-orate Go!ernance IntroductionIntroductionethics came from the Gree( /ord ethos, /hich means customs or the fabric of !alues that ma(es a society /hat it isdistinguishing dis-osition, character or attitude of a s-ecific -eo-le, culture or grou- 1 )olomon 21+*3a systematic attem-t to ma(e sense of our indi!idual and social moral e4-erience in such a /ay as to determine the rules that ought to go!ern human conduct, the !alues /orth -ursuing and the character traits deser!ing de!elo-ment in life 1 5e George 21+++3in short, ethics is actually the study of the moral content of -eo-le6s beha!ior against moral -rinci-lesEthics and EtiquetteEthics and EtiquetteEti7uette refers to beha!ior that is considered socially acce-table, as o--osed to morally right or /rong.For e4am-le, eti7uette might re7uire one to use a hand(erchief u-on snee8ing or to sha(e the hand of a -erson one is meeting for the first time.Ethics and the LawEthics and the LawEthics and the la/ often o!erla- but this may not al/ays be the case.)ome la/s could be considered amoral 2ha!e no moral !alue3.Many acts that are legal might still be considered to be unethical.In other cases, la/s themsel!es may be determined to be unethical.Ethics and Rei!ionEthics and Rei!ionEthics and religion are related to each other.Many of our ethical -rescri-tions, such as don9t (ill or steal, deri!e from religious doctrine.:o/e!er, certain religious -rescri-tions ha!e been considered by others to be immoral or unethical. E.g.; abortion."hat is #usiness "hat is #usiness Ethics$Ethics$Business Ethics is the art and disci-line of a--lying ethical -rinci-les to e4amine and sol!e com-le4 moral dilemmas. Business ethics as(s, Good and bad>? in business transactions.Histor% of #usiness Histor% of #usiness EthicsEthicsEthics in business has been an issue since the !ery first business transaction.rior 1+%,s 1 business /as -rimarily considered to be an amoral acti!ity1+%,s 1 a number of social issues in business began to emerged1+',s 1 the field of business ethics too( hold in academia1+*,11+*# 1 business ethics field continued to consolidate1+*#11++# 1 business ethics became integrated into large cor-orations)ince 1++# 1 issues related to international business acti!ity ha!e come to the forefront"h% &tud% #usiness "h% &tud% #usiness Ethics$Ethics$"o -ro!ide -eo-le /ith rationales, and ideas to hel- them sol!e ethical dilemmaIgnorance is one of the reasons /hy -eo-le do unethical actsEducation can reduce ignorance"h% #usinesses have "h% #usinesses have to 'e Ethica$to 'e Ethica$Good ethics means good business"o a!oid legal conse7uences"o im-ro!e image of the com-anies@nethical decisions lead to undesirable conse7uences 1 eg. "ragedy of highland to/ers etc.Ethica Reasonin! and Ethica Reasonin! and &tandards&tandardsEthical reasoning in!ol!es the a--lication of reasoning and logical thin(ing to arri!e at moral Audgement&riteria of ethical reasoning includes;logic,accuracy, andconsistencyethical standards deal /ith matters that ha!e serious conse7uences on the harmony and /ell being of man(ind such as moral issues arising out of the conduct of indi!iduals and grou-sEthica Reativis(Ethica Reativis(Ethical relati!ism holds that no uni!ersal standards or rules can be used to guide or e!aluate the morality of an act.=hat is right for you may be /rong for me."his !ie/ argues that -eo-le set their o/n moral standards for Audging their actions.Nature of )auesNature of )auesdefined as fundamental -rinci-les or enduring beliefs about the most desirable conditions and -ur-oses of human lifedetermine our actions and beha!ior, and they enable us to understand /hy -eo-le act the /ay they do!alues are normally /hat /e /ant to ha!e or to be associated /ith in lifesources; u-bringing, religion, social norms e4-eriencesNature of *orait%Nature of *orait%0ules that go!ern /hat is right and /rong and the !alues that are embedded, fostered or -ursued by acti!ities and -ractices 1 5e George 21+++3In short, /e can say that morality is the go!erning rules concerning right and /rong actions or conductMoral -rinci-les are based on an indi!idual9s conscience 1 moral instructions internali8ed by -arentsB authority figures that raise indi!iduals+oh'er!,s *ora +oh'er!,s *ora Deveo-(entDeveo-(ent"he strategies used to resol!e moral conflicts are based on cogniti!e moral de!elo-ment, -articularly highlighted by Ca/rence Dohlberg.Ce!el1; .re1con!entional 2self1orientation3Ebedience and -unishmentIndi!idualism and reci-rocityCe!el 2; &on!entional 2others orientation3Inter-ersonal conformityB