KEY TERMS ethical business practices ◦ Actions, activities and results of the business are legal, honest, and fair (the golden rule). ◦ With your neighbor,

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Presentation transcript:

KEY TERMS ethical business practices ◦ Actions, activities and results of the business are legal, honest, and fair (the golden rule). ◦ With your neighbor, write down at least 3 unethical business practices at Enron. core values ◦ principles that guide decisions and actions in the company. ◦ In your opinion what was Enron’s core value? SLID E 1

IMPORTANCE OF ETHICAL BEHAVIOR Not everyone has the same belief about what is ethical and what is not ethical. Organizations should develop a clear view of what is acceptable business behavior and what is not.  What was acceptable business behavior at Enron? Individuals and organizations develop reputations based on their actions and the decisions they make.  Enron’s reputation in the industry? SLID E 2

WHAT IS ETHICAL BEHAVIOR? It is lawful. It is consistent with company values and policies. It is not intended to harm some so that others can benefit. If the actions and results become public, it will not embarrass the company.  Who benefited from Enron’s unethical behavior?  Who was harmed? How? SLID E 3

ETHICAL Business Practices Actions, activities and results of the business are legal, honest, and fair (the golden rule). People and other companies treated fairly. Work of the company improves the communities and countries in which it operates. Resources are used efficiently with consideration of the effect on people and the environment. With your neighbor, analyze Enron based on the four business practices discussed above. Hand in for a grade. (20 points) SLID E 4

Ethical Management Can it be taught or is it a character flaw? (Each row to team up and come up with a unanimous answer)