prof ethics3

8/8/2019 prof ethics3

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FUNDAMENTALS OFFUNDAMENTALS OF

BUSINESS ETHICSBUSINESS ETHICS


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Chapter Outline

Business Ethics and

Public Opinion

What Does Business

Ethics Mean?

Ethics, Economics andLaw: Venn Model

Four Important Ethics

Questions

Three Models ofManagement Ethics

Making MoralManagement Actionable

Developing MoralJudgment

Elements of MoralJudgment

Summary


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Introduction

Business Ethics

Publics interest in business ethics

increased during the last fourdecades

Publics interest in business ethics

spurred by the media


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Introduction

Inventory of Ethical Issues inBusiness

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

Gallup Poll finds that only 17 percent to 20percent of the public thought the businessethics of executives to be veryhigh or

highTo understand public sentiment towardsbusiness ethics, ask three questions

Has business ethics really deteriorated?

Are the media reporting ethical problemsmore frequently and vigorously?

Are practices that once were socially

acceptable no longer socially acceptable?


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Business Ethics: What Does It Really

Mean?

Ethical Problem

Ethical

Problem

Societys

Expectations

of Business

Ethics

Actual

BusinessEthics

1950s Early 2000sTime

Business Ethics:Today vs. Earlier Period


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Business Ethics: What Does It

Really Mean?

Definitions

Ethics involves a discipline that examines good

or bad practices within the context of a moralduty

Moral conduct is behavior that is right or wrong

Business ethics include practices and

behaviors that are good or bad


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Business Ethics: What Does It Really

Mean?

Two Key Branches of Ethics

Descriptive ethics involves describing,

characterizing and studying morality

What is

Normative ethics involves supplying and

justifying moral systems

What should be


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Conventional Approach to Business

Ethics

Conventional approach to business

ethics involves 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

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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Ethics and the Law

Law often represents an ethical minimum

Ethics often represents a standard that

exceeds the legal minimum

Ethics Law


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Making Ethical Judgments

Behavior or act

that has been

committed

Prevailing norms

of acceptability

Value judgments

and perceptions ofthe observer

compared with


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Ethics, Economics, and Law

6-14


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FourImportant Ethical

Questions

What is?

What ought to be?

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

What is our motivation for acting

ethically?


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3 Models of Management Ethics

1. Moral ManagementConforms to high standards of ethical

behavior.

2. Amoral Management

Intentional - does not consider ethical factorsUnintentional - casual or careless about ethical

considerations in business

3. Immoral ManagementA style devoid of ethical principles

and active opposition to what is ethical.


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3 Models of Management Ethics

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

6-19


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Moral Management Models and

Acceptable Stakeholder Thinking

6-20


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Making Moral Management

Actionable

Important Factors

Senior management

Ethics training

Self-analysis


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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 valuesLegal values

Professional values


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Internal Sources of a Managers

Values

Respect for the authority structureLoyalty

Conformity

PerformanceResults


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Elements of Moral Judgment

Moral imagination

Moral identification and ordering

Moral evaluationTolerance of moral disagreement andambiguity

Integration of managerial and moral

competenceA sense of moral obligation


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Elements of Moral Judgment

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

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

Amoral management

Business ethics

Ethics

Immoral management

Levels of moral development

Moral management

Morality

prof ethics3

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