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Business Ethics and Responsibilities

Business Ethics and Responsibilities. Business Ethics. Business has decided that it is best to formalize the principles and codes that it will use to make ethical decisions by publishing formal documents. Two types of formal documents. Code of Ethics

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Business Ethics and Responsibilities

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  1. Business Ethicsand Responsibilities

  2. Business Ethics Business has decided that it is best to formalize the principles and codes that it will use to make ethical decisions by publishing formal documents.

  3. Two types of formal documents • Code of Ethics Primarily developed by professionals that deal with the public • Doctors, lawyers, realtors, dentists, etc • eg. The Law Society and regulatory service organizations and boards. • The Canadian Marketing Organization • The Better Business Bureau • The Metropolitan Toronto Real Estate Board

  4. Two types of formal documents • Code of Business Ethics Primarily developed by businesses and implemented into company policy. Code of Business Ethics clearly states: What the employees can expect from the Company such as: • Non-discrimination • Promotion and pay • Guidance and training • Safety and health What the Company expects from the employees such as: • Conflicts of interest • Outside employment • Trade secrets and proprietary information

  5. Business Ethics A business can have its own Code of Business Ethics and also belong to an organization where it agrees to adhere to a Code of Ethics when dealing with the public and its competitors.

  6. Ethical Considerations • Ethics are systems or codes of principles and behaviours that conform to specific societal standards (based on society's perception of right and wrong). • Business Ethics relate to conduct that is acceptable for business purposes. • Businesses are faced with ethical questions everyday. Some professions have their own Code of Ethics (a document that outlines behaviours, conduct and practices that are acceptable. A code of ethics requires a higher standard of behaviourthan existing laws.

  7. Business vs. Personal Ethics • Ultimately we must rely on our own personal code of ethics. • We require character … values, integrity and honesty. • An individual with power must accept responsibility for their own actions re. their company and/or professional code of ethics as well as their personal ethics. • The law only defines what is minimally acceptable.

  8. Raging Bull (while viewing) • What is on the waning label on every can of Red Bull? • Whose responsibility is it to • See that children don't drink Red Bull? • Make sure that consumers do not mix the product with alcohol? • See that consumers don't drink any more than two cans per day? • What bizarre behaviour did taurine cause in rats? • What three countries have banned the sale of Red Bull? • What is Red Bull's slogan?

  9. Raging Bull (after viewing) In your opinion, is the behaviour of the following groups ethical: • The Red Bull sales team • The Red Bull company • The Department of Health • Bar owners that mix Red Bull with alcohol • Store clerks who sell Red Bull to children • The marketing executive for Red Bull • Parents who let their children drink Red Bull • Stores and bars that sell Red Bull

  10. Under the Radar (while viewing) • How did Air Canada find out about WestJet's espionage? What do you call that person? • What company "unshredded" Mark Hill's papers? • How much does corporate espionage cost J.S. businesses each year? • Why do WestJet employees care about the price of WestJet shares? • What is the load factor?

  11. Under the Radar (after viewing) • Is Church Street Technologies an ethical business? • What was unethical about Westjet'sbehaviour? • What was unethical about Air Canada's behaviour?

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