1. ETHICS and Morals

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

3. 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
-Laws and regulations are set by the government, state, county that everyone must follow
-In addition businesses and individuals may set additional/other laws and/or rules/policies for people to follow ex: dress code at school, cell phone policy in class

4. Where? Ethics are also outlined in several forms:
Rules (parents/guardians)
Regulations (government)
Handbooks (school)
Policies (classroom)
Laws (city and state)
Manuals, memos, newsletters (work)
In general….

5. 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.
Example:
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?
Dress code – It is in the handbook that sleeveless is not allowed but you are not sure if you are in violation so you bring something to cover-up with just incase
Traffic – The law states not texting while driving but does that include while you are stopped at a light so you avoid doing so all together while operating a motor vehicle

6. 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.
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?