1. What “Ethics” Means ;
BUSINESS ETHICS course

2. BUSINESS ETHICS What does it mean?
Business in a market economy is based on reciprocity – which can be described as cooperation between customers and suppliers for their mutual benefit
Cooperation is demonstrated by keeping commitments
Keeping commitments leads to trust, and trust is the foundation for business ethics
For AHI, business ethics means behavior that leads to :
full compliance with the AHI Code of Ethics, and
positive outcomes for stakeholders (shareowners, customers, employees, suppliers, communities)

3. BUSINESS ETHICS How is it demonstrated?
An ethical business :
Complies with the law
Keeps its commitments
Communicates openly and is transparent
Seeks to advance the interests of stakeholders
Upholds its values, and
Holds itself accountable

4. ETHICAL DECISION-MAKING AT UTC
Better decisions flow from a good process.
AHI’s process for ethical decision-making has seven steps :
Involve the right people
Understand the facts
Understand the legal requirements, including local laws
Consider the duties owed “stakeholders” and the impact of alternatives
Assess alternatives with reference to company values,
Make a tentative decision that is lawful and reached on the merits
Ask “Should I?”

5. CASE STUDY Gifts Facts:
A delegation from the Ministry of Science and Technology (“S&T”) will visit a UTC
site. A local UTC manager would like to present a gift to the S&T leader.
The proposed gift is a leather portfolio with the UTC logo and costs €120.
Questions :
Is the timing of the gift relevant? For example, would it matter whether a contract
decision was pending? YES  NO 
Is the value of the gift relevant to the decision? YES  NO 
Does it matter that a UTC logo is on the portfolio? YES  NO 
Does it matter that the S&T leader is a government official? YES  NO 