SCHOOL OF BUSINESS ADMINISTRATION Business & Society ETLW 302D Tara Ceranic Salinas, PhD

SCHOOL OF BUSINESS ADMINISTRATION The questions we ask How should we live our lives? What kind of person should I be?

SCHOOL OF BUSINESS ADMINISTRATION How do you define morality? What is it? Where does it come from? How does it apply in business? Is it different from ethics?

SCHOOL OF BUSINESS ADMINISTRATION Morals v. ethics? Morals = individual Ethics = standardized

SCHOOL OF BUSINESS ADMINISTRATION The Meaning of Ethics Not about FEELINGS! Well-founded standards of right and wrong that prescribe what humans ought to do in terms of: Rights Obligations Benefits to society Fairness Specific virtues

SCHOOL OF BUSINESS ADMINISTRATION Business Ethics The application of well-founded standards of right and wrong to business behavior

SCHOOL OF BUSINESS ADMINISTRATION What are the most important ethical issues in the business world today?

SCHOOL OF BUSINESS ADMINISTRATION Topics Individuals: Ethical decision making, stakeholders Organizations: Culture, diversity, regulation, public issues, CSR, sustainability The world: globalization, Base of the Pyramid, Social Business

SCHOOL OF BUSINESS ADMINISTRATION Syllabus BE ON TIME me if you aren’t going to be here Name assignments properly No, you can’t make up missed assignments/assessments

SCHOOL OF BUSINESS ADMINISTRATION Expectations What do you expect from me? What I expect from you… Preparation Professionalism

SCHOOL OF BUSINESS ADMINISTRATION What this class doesn’t do Tell you what’s right or wrong Give you the answers

SCHOOL OF BUSINESS ADMINISTRATION What this class does Forces you to engage and be active Makes you think for yourself

SCHOOL OF BUSINESS ADMINISTRATION We need ethics…right?

SCHOOL OF BUSINESS ADMINISTRATION T. L. Ceranic

SCHOOL OF BUSINESS ADMINISTRATION

The Smell test…

SCHOOL OF BUSINESS ADMINISTRATION Good ethics = good business!

SCHOOL OF BUSINESS ADMINISTRATION Built to Last “Truly exceptional and enduring companies all placed great emphasis on a set of core values.” “Essential and enduring tenants.” “Not to be compromised for financial gain or short-term expediency.” Without specific values, the only value is profit.

SCHOOL OF BUSINESS ADMINISTRATION Why do Ethical Problems Occur? Personal gain/selfish interestgain/selfish Competitive pressures on profits Battle between business goals and personal goals Cross-cultural contradictions

SCHOOL OF BUSINESS ADMINISTRATION Let’s Get Ethical!

SCHOOL OF BUSINESS ADMINISTRATION Team Project 5 per team MUST link to WATER in some way

SCHOOL OF BUSINESS ADMINISTRATION For Next Class Read Parable of the Sadhu Moral Imagination Student Privileges with Strings Attached Complete the Ethical Lens Inventory