Applied Business Law: Ethics and Our Law Chapter 2

GOALS Define ethics Describe each element of the definition Define business ethics

What is Ethics? Lisa found a $20 bill in the girl’s restroom at school. She bought her sister a gift with part of the money and put the rest of the money in her savings. Jim found $20 in the boy’s restroom. He knows whoever lost the money would probably need it, so he turned the money in to the office. Who is displaying more ethical behavior? What would you do?

Whats your Verdict? Has Jane made an ethical decision? If you were in Jane’s position, what would you do? Why so you think Jane's decision is okay? Not okay? What do you think Jane should do with the exam she found?

Ethics Deciding what is right or wrong in a reasoned, impartial manner OR part of philosophy, study of morality

3 Elements: Decision about right or wrong action Decision is reasoned Decision is impartial

1) Decision about Right or Wrong Action Decision to buy blue jeans with wide pant legs or narrow pant legs? Ethical component? Decision to discontinue medical support for an unconscious, terminally ill relative. Many decisions have little effect on other persons or yourself To involve ethics, a decision must affect you or others in some significant way

2) Reasoned Decisions We often act in response to our ________. EMOTIONS Ethical decision must be based on reason, not our emotions Usually refer to a written authority that provides consistency Law

3) Impartial Decisions Impartiality The idea that the same ethical standards are applies to everyone Ethics does not value one person or group of persons more than any other does Men vs. Women Each person is an individual and should receive equal respect and consideration from others

Impartial Decisions (cont) It requires us to make ethical decisions while we balance our self-interest with the interest of others If you hit someone’s car and no one sees you, is it ethical not to report it? Who is affected? All of our actions affect others

Impartial Decisions (cont) Particularly important when organizations and institutions are involved “It was only the school’s property” “Just the insurance company was cheated” Consider how the people behind the institution are affected by the action

Moral Norms, Moral Standards, Company Policy, Ethical Principle Issues/Problem Reality Check Moral Norms, Moral Standards, Company Policy, Ethical Principle Moral Judgment Situation Analysis Problem Analysis Decision Analysis Resolution Characteristics of Good Moral Standard   A good moral standard is one that looks at the issues or something that is serious. A good moral standard must be grounded on good moral argument. A Good Moral Argument - an argument that always tells the truth. A Solid Moral Argument - leads no room for loop holes and counter arguments. Previous Slide Next Slide

In this Case What would you have done in Gabe’s place? Why? What would prompt them to keep the wallet? Return the wallet?

Checkpoint What must Ethical decision must be based on ? How are Ethics reflected in law? What is an Impartial Decision and give me an 2 examples What are the 3 Elements of Ethics in Law: What does Integrity means and give me 2 examples in a completed statement