ETHICS Doing the Right Thing WHY IS THIS IMPORTANT? Understanding business ethics and social responsibility informs you of your rights as a consumer, employee, and a citizen. SO WHAT IS ETHICS? Ethics is the set of moral principles by which people conduct themselves personally, socially, or professionally. is the study of moral choices and values. It involves choosing between right and wrong. Ethics WHAT ARE BUSINESS ETHICS? Business ethics is a set of laws about how a business should conduct itself. general, for any business to be successful, it must operate legally and humanely. In ETHICS Not everyone will have the same belief about what is ethical and what is not ethical background influences the decisions you make a combination of your life experiences pulled together Personal Are IS THERE A UNIVERSAL ETHICAL STANDARD? Yes—In Principle Are you comfortable with a world with your standards? Christian principle: The Golden Rule “Do unto others as you would have them do unto you.” Luke 6:29-38 “Thou shalt love thy neighbor as thyself.” Luke 10:27 TAUGHT IN ALL CULTURES Judaism: What you hate, do not do to anyone. Islam: No one of you is a believer until he loves for his brother what he loves for himself. Hinduism: Do nothing to thy neighbor which thou wouldst not have him do to thee. Sikhism: Treat others as you would be treated yourself. Buddhism: Hurt not others with that which pains thyself. Confucius: What you do not want done to yourself, do not do to others. Aristotle: We should behave to our friends as we wish our friends to behave to us. Plato: May I do to others as I would that they should do unto me. THE GOLDEN RULE TERMS ASSOCIATED WITH ETHICS Honesty Loyalty Dependability Attitude Initiative Cooperation HONESTY to lie, steal, or deceive in any way Fairness Faithfulness to facts Respectability in character Refusal Are you being honest when you copy software from a friend? LOYALTY Faithful in allegiance Firm adherence of a promise Conscientious observance of a duty Are you able to trusted with confidential information from a friend or on the job? DEPENDABILITY Reliable Trustworthy Straightforward When you tell someone you’ll meet them at a certain time are you prompt? ATTITUDE A good attitude reflects good work ethics Be positive Are you a positive person to be around? INITIATIVE Enterprising things without being told Going beyond what is expected Doing Do you do things on your own or only when asked to? COOPERATION well with others Associating with others for mutual benefit Considering how other feel Working Do you work well when given group activities or projects? THEORIES OF ETHICS Ethical fundamentalism—People look to an outside source or central figure for ethical guidelines Utilitarianism—People choose the alternative that would provide the greatest good to society Kantian ethics—A set of universal rules based on reasoning establishes ethical duties Rawls’s social justice theory—Moral duties are based on an implied social contract UTILITARIAN ETHICAL FRAME WORK Under this framework, acting ethically means making decisions and taking actions that benefit people by maximizing “good” and minimizing “bad.” Outcomes, results, or goals are the focus—not the action taken to achieve them. Utilitarians facing an ethical dilemma ask, “What is my goal? What outcome should I aim for?” http://nefe.danielsfund.org/ethics/section_two/ue.html FRAMEWORK FOR ETHICAL DECISION MAKING Recognize an ethical issue Get the facts Evaluate the alternative actions from various perspectives Make a decision and test it Act, then reflect on the decision later FORD PINTO ETHICAL DILEMMA CASE STUDY “POCKETING THE DIFFERENCE” John, a hard-working effective cashier Occasionally his register does not balance He reports shortages He pockets overage for “college fund” Overage has never been more than a dollar or two CASE STUDY CONTINUED... One day a customer pays with a $50 bill. John thinks it’s a $20 bill and gives change accordingly. The customer doesn’t notice that the change is incorrect. At closing his register is $34.80 over WHAT SHOULD HE DO? WHAT ARE THE ETHICAL ISSUES? Taking money that does not belong to him Deciding what to tell the store manager WHAT ARE THE ALTERNATIVES? Take Tell the money the manager about the discrepancy WHO ARE THE AFFECTED PARTIES? John The store manager The customer HOW DO THE ALTERNATIVES AFFECT EACH PARTY? If John keep the money he can add it to his college fund He may have to return it if the manager finds out or if the customer returns The manager may develop a bad opinion of John The customer may develop a poor opinion of the store WHAT IS THE DECISION? John should tell his boss about the overage The customer returns for the money and is pleased that John was honest. John bossed is impressed and John receives a bonus. THINK ABOUT IT Is John justified in taking the overage from his register when it’s only a dollar or less?
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