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Business Ethics and Social Responsibility. Business Ethics . A collection of principles and rules that define right and wrong conduct for an organization. Code of Ethics/Code of Conduct. A set of rules outlining the responsibilities or proper practice for an individual or organization.
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Business Ethics A collection of principles and rules that define right and wrong conduct for an organization.
Code of Ethics/Code of Conduct • A set of rules outlining the responsibilities or proper practice for an individual or organization
Ethical Dilemma • A situation arises when all alternative choices or behaviors have potentially negative consequences making it difficult to make a decision.
Methods for Resolution Analyze the consequences • Utilitarian Approach-the ethical concept that moral behaviors produce the greatest good for the greatest number. • This approach looks at the consequences and decides if the benefit is better than the harm. • Example Pharmaceuticals the benefits to more people outweigh the risk to few
Methods for ResolutionAnalyze the consequences • Individualism approach-contends that the act is moral if it promotes the individuals best long term interests • Promotes that if all individuals act in the best long term interest in themselves that people will ultimately treat people the way they want to be treated • Often misinterpreted to behavior that promotes immediate self gain
Methods for ResolutionAnalyze the actions Moral Rights Approach 6 Rights should be considered Asserts that human beings have fundamental rights and liberties’ that cannot be taken away by any individuals decision • Free consent • Privacy • Freedom of conscience • Free speech • Due process • Life and safety
Methods for ResolutionAnalyze the actions Justice Approach- 3 Standards • Holds that moral decisions must be based on standards of equity, fairness and impartiality • Distributive Justice- treat the same men/women shouldn’t get different salaries for same job • Procedural Justice-rules be administered fairly and consistently • Compensatory Justice-people should be compensated for injuries. And not responsible for things they don’t control
Whistle Blowing • occurs when an insider reports alleged organizational misconduct to the public
Social Responsibility • is managements obligation to make choices and take actions that will contribute to the welfare and interests of society as well as the organization.
