1. Ethics of Business The Theoretical Basis
Chapter 5

2. What are Your Morals?

3. Morals Rules that govern which actions are right and which are wrong
Morals Rules that govern which actions are right and which are wrong. Morals can be for all of society or an individual’s beliefs. At times a moral can be learned from a story or experience.

4. Do not gossip Tell the truth
Do not vandalize property
Have courage
Do not have sex before marriage
Keep your promises
Do not cheat
Treat others as you want to be treated
Be trustworthy
Do not judge Be dependable
Respect others Be forgiving
Keep your self control
Have integrity
Be accountable and take responsibility
Have patience
Be loyal
Have respect for yourself
Be tolerant of differences
Seek justice Have humility
Serve mankind
Be generous

5. Rules or standards governing the conduct by which you live life and make decisions. One of the best ways of thinking about ethics is to take a quick look at what you believe and then think about how you would react when those beliefs are challenged.
Guided by our ethical beliefs, which are primarily the result of cultural factors beyond our a learning process righ or wrong

6. Business Ethics Ethical Implications in Business
Influences on Ethical Behaviour
Moral Reasoning Process
Challenges of Ethics in Business

7. Morality is defined as having and living according to a moral code, or principles of right and wrong. Basic morality condemns murder, adultery, lying and stealing. However, morality evolves with the evolution of society, differing noticeably in different cultures. For instance, whereas one culture finds a man with several wives to be perfectly moral, another culture sees this as immoral and wrong. Time also noticeably affects the idea of morality. Once, women were considered the property of men, which is now considered outdated and immoral.

8. Business Ethics
Business Ethics: rules, standards, codes, or principles that provide guidelines for morally right behaviour and truthfulness in specific situations.
Where do you get your ethics?
Also Reflected in Corporate & Social Responsibility The Cultural & Human Side …. The Environment

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10. Ethical Implications in Business
Value judgments: If you make a value judgment about something, you form an opinion about it based on your principles and beliefs and not on facts
Moral standards: the means by which individuals judge their actions and the actions of others.
based upon accepted behaviour in society

11. What Determines Ethical Behavior

12. Influences on Ethical Behaviour
Influences become the bases for an individual’s value judgments and moral standards that determine behaviour.
Influences on Individuals
Corporate or Organizational Influences
Economic Efficiency Influences
Government and Legal System Influences
Societal Influences

13. Ethical Implications in Business
Owners
fair and accurate disclosure
Employees
hiring; firing; wages; privacy; discrimination; honesty; conflicts of interest; insider information
Consumers
dishonest advertising; product safety
Competitors
non-competitive behaviour; industrial espionage
Suppliers
kickbacks; gifts; bribes
Government
legal compliance; lobbying
Society
respect for environment; corporate giving
LO 5.2
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14. Ethics covers a wide range of subjects, such as:
• Personal ethics: e.g. questions about one’s basic values and plan of life
• Professional ethics: principles and practices of major professions
• Social and political ethics: e.g., issues of social justice, political rights
• Ethics of sexual and gender relations
• Research ethics in academia and the private sector
• Environmental ethics, including the ethical treatment of animals
• Global ethics: ethics of international affairs, human rights
• Communication ethics, including media, public relations and journalism

16. Code of the West
1) Live each day with courage. 2) Take pride in your work. 3) Always finish what you start. 4) Do what has to be done. 5) Be tough, but fair. 6) When you make a promise, keep it. 7) Ride for the brand. 8) Talk less and say more. 9) Remember that some things aren't for sale. 10) Know where to draw the line.

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Cowboy Ethics in the Classroom -- The Great Experiment: Ann Moore at TEDxDenverTeachers
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18. Self-Interest (Ethical Egoism) Egoism is the habit of valuing everything only in reference to one's personal interest; selfishness
Individuals or corporations set their own standards for judging the ethical implications of their actions; only the individual’s values and standards are the basis for actions.
Self-interest Getting what you want or need and no worry about what happens to other people.

19. Personal Virtues Ethic
An individual’s or corporation’s behaviour is based upon being a good person or corporate citizen with traits such as courage, honesty, wisdom, temperance, and generosity.( CSR )
Ask, how would I feel if my actions were explained on television?
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20. Ethics of Caring
Gives attention to specific individuals or stakeholders harmed or disadvantaged and their particular circumstances.
Golden rule: Do unto others as you would want done to you.

21. Utilitarian Ethic
Focuses on the distribution of benefits and harms to all stakeholders with the view to maximizing benefits.
“The greatest good for the greatest number.”
A moral principle that asserts that morally correct actions are those that provide the greatest volume of benefits over harms for the majority of people. The morally just route is one that provides the most benefits to groups of people, even if the benefits derive from socially unacceptable actions such as lies, coercion and use of excess force.

22. Universal Rules Ethic
Ensures that managers or corporations have the same moral obligations in morally similar situations.
Treat people as means in themselves (i.e., with respect) and never as a means to one’s own ends.
Ethical standards that are self-evident, that apply to all people regardless of cultural, political, social, or economic context. The non-aggression principle, which prohibits aggression, or the initiation of force or violence against another person, is a universal ethical principle.

23. Ethics of Justice
Considers that moral decisions are based on the primacy of a single value: justice.
Different types of justice:
Procedural justice
Corrective justice
Retributive justice
Distributive justice

24. Moral Reasoning Process
Moral Reasoning: a systematic approach to thinking or reasoning through the implications of a moral problem or issue.
A process of objective thinking whether an idea is right or wrong. To know whether something is "right" or "wrong" one must first know what that something is intended to accomplish.

26. Moral Reasoning Process
Steps to moral reasoning:
Define moral issue or decision
Gather all relevant information
Identify the stakeholders involved
Develop possible alternative solutions
Consider applicable value judgments, moral standards, ethical principles
Identify harms/benefits to stakeholders
Determine practical constraints
Decide on action
Don’t Go Strait to Angry!!!!

27. Challenges of Ethics in Business
Indicating ‘just do the right thing’ is insufficient (i.e., too open ended)
It’s not easy to be ethical
Unethical behaviour not just due to a few bad apples
People always have been (and always will be) unethical
Most believe (due to implicit bias) that they behave ethically towards others

28. Chapter Summary

30. White Collar Crime Ethical Issues

31. Challenges To Ethics

33. Summary