An action is right or wrong depends on the morals of the society in which it is practiced. The same action may be morally right in one society but be morally wrong in another. (Bribery) (Number of Wives) What is ethical relativism and why should managers consider ethical relativism when doing business in a foreign country?

Why should managers consider ethical relativism when doing business in a foreign country? With few exceptions, managers should not concede to ethical relativism any differently than they would practice in Canada. Should we dump our waste in the river knowing the damage it will do, even if such conduct is not illegal? Should we refuse to bribe a government official, and lose the contract to our competitor? Should we use cheap child labor, even if its not illegal, just because our competitors do? Japan personal qualities that contribute to success in a foreign assignment. There are four categories of qualifications essential to success in Japan. According to top executives in more than a dozen large international corporations, the categories are: technical competence, cross-cultural knowledge, a unique ‘mix’ of physical and personality characteristics, and language ability.

Personal qualities that contribute to success in a foreign assignment Personal qualities that contribute to success in a foreign assignment. There are four categories of qualifications essential to success in Japan. According to top executives in more than a dozen large international corporations, the categories are: technical competence, cross-cultural knowledge, a unique ‘mix’ of physical and personality characteristics, and language ability. Japan’s View

How is an ethical principle different from a moral standard? Ethical Principle: Use logic in decision making Objective Evaluate Good and Bad Moral Standard: Use standards set by society in decsion making Represent Expectations of society Can vary by Society How is an ethical principle different from a moral standard?

5 BCG Morals are the social, cultural and religious beliefs or values of an individual or group which tells us what is right or wrong. They are the rules and standards made by the society or culture which is to be followed by us while deciding what is right. Some moral principles are: Do not cheat Be loyal Be patient Always tell the truth Be generous INFO

Truthfulness Honesty Loyalty Respect Fairness Integrity 6 Diversification Ethics with the principles of conduct of an individual or group. It works as a guiding principle as to decide what is good or bad. They are the standards which govern the life of a person. Truthfulness Honesty Loyalty Respect Fairness Integrity INFO

3 Why can the self-interest ethic not be avoided when studying the ethics of business? It is doubtful that self-interest can be avoided in the study of any institutions! But, in business, some of the fundamentals of capitalism are manifested by self-interest, for example competition, and profits.

This is an open question This is an open question. Common ones mentioned are the same as for individuals: honesty, fairness, and justice. 4 Which personal virtues are most important in the operation of a corporation?

When it is felt that exceptions should be made in particular cases where harms or hardships would be imposed on an individual or particular groups. The manager must be prepared to defend or justify the exception being made. In society, some exceptions are accepted by society, 5 Under what circumstances would a manager or a corporation use the ethic of caring in assessing the ethical implications of a decision?

6 How do corporate managers apply the universal rules ethic? Managers would have to identify appropriate behaviour which would not be easy to reinforce. There would have to be common understanding about the “rules.” Extra efforts would have to be taken by managers to make sure they were consistent in their behaviour and disciplined employees in a consistent manner. Using Company policies 6 How do corporate managers apply the universal rules ethic?

7 What are the rights of a corporation? In law, the corporation has rights such as property, fair competition, profits, and termination. They are associated with the fundamentals of capitalism. They also have limited liability but bot a lot of political rights. 7 What are the rights of a corporation?

8 What is the economic efficiency ethic and In what situations would it be appropriate to use the economic efficiency ethic in assessing ethical implications? Economic efficiency is a state where every resource is allocated optimally so that each person is served in the best possible way and inefficiency and waste are minimized Example : A factory has several machines to help sew the clothing. The machines can produce enough clothing that when sold could result in $100, $75, and $50. The most efficient option is the one that results in $100. Anything less than $100 is considered an inefficient use of the machines. .

9 Why is a system of moral reasoning important to managers? They have to rely on some systematic approach to resolving ethical dilemmas. It is not good enough to use intuition or chance to make decisions. A greater number of stakeholders and potential harms and benefits will be identified in some systematic approach to decision making when there are moral implications Moral deals with the principles or rules of right thinking and actions. Implication comparing two similar things and thinking if one of those things is right, then the other should be right as well. OR the opposite: if one of those things is wrong then the other should be wrong as well.

Moral reasoning a process in which a manager tries to determine the difference between what is right and what is wrong in a personal situation by using logic. This is an important and often daily process that people use in an attempt to do the right thing. Every day for instance, people are faced with the dilemma of whether or not to lie in a given situation.

There are four components of moral behavior There are four components of moral behavior. 1) moral sensitivity, which is "the ability to see an ethical dilemma, including how our actions will affect others“ 2) moral judgment, which is "the ability to reason correctly about what 'ought' to be done in a specific situation“ 3) moral motivation, which is "a personal commitment to moral action, accepting responsibility for the outcome 4) moral character, which is a "courageous persistence in spite of fatigue or temptations to take the easy way out"

All told a persons morals are a part of their personality and a result of genetics, development and environment.

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