Objective Discuss ethical and unethical business practices Contrast ethical, moral, and legal choices that relate to the decision-making process in business situations

Ethics in Business Law sets minimum standards that must be followed Businesses and individuals set additional standards that layout what will and will not be acceptable and what will happen if they are not followed

Where? Ethics are also outlined in several forms: –Rules (parents/guardians) –Regulations (government) –Handbooks (school) –Standards (classroom) –Laws (city and state) –Manuals, memos, newsletters (work) –Morals and Values (learned)

Moral Dilemma Is also known as an ethical paradox; refers to a complex situation requiring a choice between two equally undesirable alternatives. One choice results into the transgression of the other resulting in conflicts between moral requirements. –As mentioned earlier, morals and values are learned or instilled in us throughout life –Example: You see a truck with a company logo and phone number on the side, when the driver gets out he accidently drops a bank bag full of money. Do you keep the bag, call the police, or call the number on the side of the truck to try and return it to the rightful owner?

Ethical Dilemmas The issue of ethics often arises when it is not clear whether a particular action is legal/illegal, acceptable/unacceptable, allowed/not-allowed, policy/against policy… Businesses themselves are constantly faced with ethical dilemmas of various kinds. –Should I keep some financial data out of a proposal that may cause me to lose investors? –Should I tell investors their money is not be allocated properly?

Ethical Dilemma Project Give one examples of an ethical dilemma you were faced with in the last year, what you chose do to and what the result was. –Ethical Dilemma: –What did you do (decision): –What happened as a result of your decision: