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BUSINESS ETHICS.doc

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  BUSINESS ETHICS- The principles and standard that define acceptable conduct in business .ETHICAL ISSUES – is an identifiable problem, situation, or opportunity that requires aperson to choose from among several actions that may be evaluated as right or wrong , ethical or unethical. REASON FOR NOT REPORTING OBSERVED MISCONDUCT  Didn’t believe corrective action would be taken  Feared retribution or retaliation from supervisor or management  Feared they wouldn’t remain anonymous  Thought someone else would report the misconduct  Didn’t know who to contact WHISTLEBLOWING ~ the act of an employee exposing the employer’s wrongdoing to outsiders  ! media government regulatory agencies CONFLICT OF INTEREST – occurs when a person must choose whether to advance their own personal interest or those of others. THE HEART OF BUSINESS ETHICS - general values of decision makers. THREE (3) FACTORS THAT INFLUENCE BUSINESS ETHICS:  #ndividual standards and values  $anagers’ and coworkers’ influence  %pportunity codes and compliance requirements CODE OF ETHICS ~ formali&ed rules and standards that describe what a company expects of its employees SOCIAL RESPONSIBILITY – a business obligation to maximi&e its positive impact and minimi&e its negative impact on the society. THE NATURE OF SOCIAL RESPONSIBILITY  'conomics ( earn profits  )egal ( comply with the law  'thical ( not *ust +for profit only  -oluntary philanthropic  /discretionary0 promote human welfare and goodwill  ARGUMENT FOR SOCIAL RESPONSIBILITY  1usiness helped to create many of the social problems that exist today, so it should play a significant role in solving them  1usiness should be more responsible because they have the financial and technical resources to help solve social problems  2s members of society, business should do their fair share to help others TO WHOM ARE ORGANIZATION SOCIALLY RESPONSIBLE  SHAREHOLDERS – the company owners  STA!EHOLDERS – person or groups who are interested in and affected bythe organi&ation’s action. They have stake in what those actions are.  PRIMARY STAKEHOLDERS are groups on which the organization depends for its long-term survival. Shareholders EmployeesCustomersSuppliersGoer!me!t  Lo al ommu!itiesSECO#DARY STAKEHOLDERS such as the media and special interest groups, can influence or be influenced by a company. SHAREHOLDER MODEL – 2 view of social responsibility that holds that an organi&ation’s overriding goal should be to maximi&e profit for the benefit of shareholders STA!EHOLDER MODEL – a theory of corporate responsibility that holds that management’s most important responsibility, long term survival, is achieved by satisfying the interest of multiple corporate stakeholders. SOCIAL RESPONSIVENESS ~ refers to a company’s strategy for responding to shareholders’ expectation concerning economic, legal, ethical or discretionary responsibility. STRATEGIES FOR RESPONDING TO SOCIAL RESPONSIBILITY.   REACTIVE STRATEGY – will do less than stakeholders expect. #t may deny responsibility for a problem or fight any suggestion that it should solve a problem.  DEFENSIVE STRATEGY – will admit responsibility for a problem but would do the least required to meet stakeholders’ expectations.  ACCOMODATIVE STRATEGY – will accept responsibility for a problem and take aprogressive approach by doing all that could be expected to solve the problem.  PROACTIVE STRATEGY – will anticipate responsibility for a problem before it occurs, do more than expected to address a problem, and lead its industry in its approach. TAKE HOME SEATWORK – CASE 2 Devon thought it might be difficult to make friends when he went to college, but three weeks into his freshman year, he had already found two of the best friends hecould ask for. They did everything together, from basketball to homework. 2nd, as luck would have it, Devon randomly shared the same class as one of these friends, 3ory.#n that class, Devon noticed that his friend cheated profusely. 4ot only would 3ory plagiari&e assignments, but he would also use his phone to cheat on tests. 5till theywere friends6 whatever 3ory did in class was his own business and shouldn’t matterto the friendship, Devon thought.%ne night, however, the three friends were playing poker, and 3ory kept getting good hand after good hand. 2s much as Devon wanted to call it coincidence, he couldn’t help thinking of 3ory cheating in class. %n a later day, Devon played against his two friends in basketball6 3ory claimed he was fouled even though Devon didn’t see it.4ow, 3ory has asked to +look over Devon’s essay for their class*ust to give 3ory an idea of where to start. Devon wants to help his friend out, but worries about what 3ory’s real intentions might be.#s Devon *ust being paranoid7 8ould it make sense for Devon to trust his other friend more than 3ory7 Does cheating in class reflect anything about your characteroutside of it7
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