Business ethics refers to implementing appropriate business policies and practices with regard to arguably controversial subjects.
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producing a product that is harmful to consumers:
Depletion of the Ozone Layer
company using suppliers that are unethical
Basically compliance with the law
standard of minimum behaviour
write standards stating explicit rules
Most common ethical standard in the US
may give the impression that you only needminimum behaviour
can imply low level employees are target
gives no guidance on ethic issues that arise
Relying on employee values
The employee makes the ethical decisions
Assumes everyone is ethical / honorable
Expects ethical behavior
Not everyone is ethical
Not everyone shares same ethical values
Possibility of ethical issues not being resolved
exhorting people to act ethically
no help identifying correct ethical standards
may imply employees are to pay shorttermcost of acting ethically
defining a set of values and then managing them
educate model, reward values and standards
gives guidance/ description for all types ofchoices
makes managing values integral part of thecompany
takes more management effort
dumping / selling products at a lower price, lower then value.
multinational corporations using standards biased on the nation they are in
Outsourcing to cheaper labour / sweatshops
Patent, Copyright, Trademark infringements. Misuse
drug companies re coup losses for a time because they are the sole maker of a drug. What if it was a high demand drug that could save lives?
many businesses have created internal policies pertaining to ethical conduct of employees:
Ethic Statements and Code
A competitive business environment may call for unethical behaviour .
Lying has become expected in some fields suchas trading.
An example of this are the issues surrounding the unethical actions of the Saloman Brothers.
HUMAN RESOURCE MANAGEMENT
create unsustainable conditions for employers
create sustainable conditions for employees
the longer you work the more rights you have?
Longer you work the more money you get forsame job as co worker?
SALES AND MARKETING
food/products, saying something is good for you when it isn't.
Fairness in pricing and distribution
marketing dangerous products/services
earnings per share
decrease quality of product
not contributing to counties that allow theirbusiness
Return on Investment
easy to put cost on services but hard to quantifybenefits of those said services
financial liabilities that do not appear on thebalance sheet/income statement/cashreports
waste generated as part of the productionprocess?
Environmental Damage as result of rapidindustrialization
acting in the best interest of of the corporation
short term financial goals having a long termimpact on society / environment
business ethics is the study of standards of business behavior which promote human welfare and the good.
can extend to animal welfare, environment welfare
HOW INDIVIDUALS ACT IN BUSINESS
STRUCTURING BUSINESSES AND THE WAY WORK
how we structure our business society, our laws affecting business , our systems