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Personal and Business Ethics

Personal and Business Ethics. Business Management The Scope of Management. Personal & Business Ethics. Objectives. Essential Questions. Describe the difference between legal and ethical conduct. How are business ethics established? What is a whistleblower?.

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Personal and Business Ethics

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  1. Personal and Business Ethics Business Management The Scope of Management

  2. Personal & Business Ethics Objectives Essential Questions Describe the difference between legal and ethical conduct. How are business ethics established? What is a whistleblower? • We will explore the principles of personal and business ethics and their role in business decisions. • We will explore the relationship between social media and ethics in the decision-making process.

  3. Personal Ethics

  4. Ethical Decision-Making • What is the ethical dilemma? • List the facts that have the most bearing on the dilemma. • Identify the stakeholders involved and how they may be affected. • Describe all possible actions and alternatives. • Determine a course of action.

  5. Case #1 • Lorna is an administrative assistance in the Human Resources department. Her good friend, Bill, is applying for a job with the company. She has agreed to serve as a reference for him. • Bill approaches her for advice on preparing for the interview. Lorna has the actual interview questions that will be asked of all applicants.

  6. Case #2 • Emily works in Quality Control. Once a year, her supervisor gives away the refurbished computers to the local elementary school. • No specific records are kept of this type of transaction, and Emily really needs a computer for her son in college.

  7. Case #3 • Richard & Conway are talking in the hallway about the employee benefits program. Conway has had recent financial trouble, and he is explaining how the benefits program has a loophole that will allow him to receive financial assistance. • Cathy overhears. Later, she is approached by her supervisor who says he has heard rumors about employees taking advantage of the benefits program.

  8. Ethical Issues

  9. Ethics • Laws provide a minimum standard of behavior for people and businesses to follow. • Many behaviors are neither allowed or disallowed by law. • Ethics refers to standards of moral conduct that individuals and groups set for themselves • Ethics help define what behaviors are valued as right or wrong. Describe the difference between legal & ethical conduct.

  10. Business Ethics • Ethical behavior is closely linked to personal values – underlying beliefs and attitudes that individuals or groups possess or share. • Business ethics are a collection of principles and rules that define right and wrong conduct for an organization. Describe the difference between legal & ethical conduct.

  11. Business Ethics • Not all firms have the same rules of ethical conduct. • Ideas of ‘right and wrong’ vary from manager to manager, business to business, and country to county. • Have you heard of… • Tyco International? • Enron? • MCI? How are business ethics established?

  12. Role of Ethics in Business • Some companies hire Chief Ethics Officers to ensure workers are trained in the company’s ethics policies. • Many businesses have created a code of ethics to guide managers.formal, published collection of values & rules that reflect philosophy and goals How are business ethics established?

  13. Communicating Ethical Standards • Formal Training • Memos • Newsletters • Posters • Employee Manuals How are business ethics established?

  14. Business Ethics Example • In Japan, it is an accepted business practice for employees to give expensive gifts to their bosses. • In the United States, gifts may be considered a form of bribery and are discouraged. • Should an American company behave in Japan as it does in its home country of the United States?

  15. Real-World Business Ethics Nike Case Study

  16. Whistleblowers • Person who exposes misconduct or alleged dishonest or illegal activity occurring in an organization • Whistleblower Protection Act • Edward Snowden – fugitive or whistleblower? What is a whistleblower?

  17. Closing Task #1 • Describe the difference between legal and ethical behavior. • Explain how business ethics are established. • Do you think whistleblowers need protection? Why or why not?

  18. Using Social Media

  19. Social Media in Business • Social media is always changing and should be watched closely to monitor trends. • Take full advantage of the benefits of social media! • Positive Image • Networking • Always remember to use RESPECT.

  20. Social Media Policies in the Workplace It’s All About Respect

  21. Closing Task #2 • Describe the potential benefits of using social media for personal or business reasons. • Explain at least two concerns that exist regarding the way businesses or employees use social media.

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