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Business Ethics Cuand Economic Stand
Prepared b
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Why should businesses accept a univ
standard?
A UNIVERSAL STANDARD per se means a benchmark or rule othat is accepted and followed by the members of a global and gcommunity
Answer: to SURVIVE and MAINTAIN interpersonal, inter-communitacross-cultural relationships
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Why should business accept a univ
standard?Issues that need a universal ethico-moral standard:
False advertising
Child Labor
Job Discrimination
Sexual Harassment
Issuance of Bouncing Checks
Misrepresentation
Rice Cartel
Technology Piracy
Corruption
Stock Market Manipulatio
Tax Cheating
Fraudulent Dealing
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Are bad practices the same as cult
values?
Guanxi
a popular culture in China Gift-giving that shows
respect to another person
Objective is to strengtheninterpersonal relationships
earned personal connection
Bribery
A common unethical a
Gift-giving with done without external evideas possible
Objective is to buy somother party which shobought or paid
bought personal con
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Are bad practices the same as cultural
Answer: Bad practices should not be mistaken as
values. Cultural values are open and transparent
not always accepted by other groups or commBad practices are often conducted under-the-tab
secret due to the objectives that lay behind them
Are bad practices the same as cult
values?
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Business Ethics and Compl
Prepared b
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What is the Bhopal industrial accid
On December 2, 1984 a
company in East Asia had a
deadly methyl isocyanate gasstored in a tank and was
furiously boiling that night
when some chemicalsentered the tank
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What is the Bhopal industrial accid
Emergency valves explodedand white toxic gas beganshooting out of some big pipes.
The towns Jaipraksh and Chola
where infected by the lethal
cloud causing spasms, burns,blindness, lesions, bronchial
blockage and death to the
citiznes.
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What is the Bhopal industrial accid
Over 2000 people weredead and 200,000 wereinjured. This happened in
a Union Carbide pesticideplant located in Bhopal,India.
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What is the Bhopal industrial accid
Answer: The Bhopal Industrial accideconsidered to be the worst industrial a
in human history.
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For business to beethical it is NOT
ENOUGH to follow the
law. Why not?
Requirements for all industries
- Legal includes observance of the law- Ethical includes social and moral respons
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Answer: There are laws which are fairly low in stwhen it comes to protecting the community. It i
of the company to provide for the weakness of sbecause it is its responsibility to the communitythe difference between business ethics and legacompliance.
For business to beethical it is NOT
ENOUGH to follow
the law. Why not?
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What is law?
Answer: Traditional definition: Law is the ordinancepromulgated by someone in authority for the commonnot a recommendation or suggestion. It is obligatory.
It is PERSUASIVE.
It is reasonable, supported with study,evaluation and logic. Thus,IGNORANCE OF THE LAW EXCUSESNO ONE.
It is COERCIVE.
It is imposed. One can gfined or imprisoned. It isbroadcasted, dissemina
and made known to eve
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The law is for the common good an
for the good of any individual or of
What is law?
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