| Term | Definition |
|---|
| Ethics is the discipline that examines one's moral standards, or the moral standards of a society..... ......which leads to the next question...what is morality and what are moral standards? Morality is defined as the standards that tell us what is right and wrong or what is good or evil. Moral standards are absorbed from family, friends, church, society etc. | Ethics |
| Involved with serious issues, injuries or benefits Not established by law or legislature Should be preferred to other values including self-interest Based on impartial consideration Associated with special emotions and vocabulary Examples: Slavery, child abuse, murder etc | Moral standards |
| A person is morally responsible for a wrong if The person caused or helped cause it, or failed to prevent it when he could or should have The person did so knowingly The person did so of his of her free will | Moral responsibility |
| Study of moral standards in business as they apply to System issues: institutions and their environment. Corporate issues: organizations, and their structure and activities Individual issues: behaviour and decisions of one or a group of individuals We will be spending a lot of time in this course talking about different corporations, so lets take a closer look..... | What is Business Ethics? |
| A corporation is a legal entity which has a legal personality distinct from those of its members. The defining legal rights and obligations of a corporation consist of the capacities (i) to sue and to be sued, (ii) to have assets, (iii) to employ agents, (iv) to engage in contracts, and (v) to make by laws governing its internal affairs | What exactly is a corporation? |
| Globalization is the worldwide process by which the economic and social systems of the world have become connected, so that goods, services, capital, knowledge and people can move across national borders at an increasing rate. MNCs, with operations in a number of countries, are driving this trend. Benefits- Jobs, skills, technologies, low prices, rising standards of living Problems-Rising inequality, race to the bottom, job losses, | Ethics and the challenge of globalization |
| The idea that no ethical values are absolutely true and universal; they can not be applied to the companies and peoples of all societies. When in Rome, do as the Romans Do we have the right to impose our moral values on other people? | Ethical relativism |
| I know what is morally right, so if you do not follow it, then you are morally wrong. My values and practices are superior to your values, they are not 'equally valid'. If you believe that the earth is flat or that disease is caused by bad karma, you are misinformed; you are not holding a valid alternative belief. | Relativism vs. Absolutism |
| Is slavery wrong? Is discrimination wrong? Is freedom of religion universal? The case of Nazi Germany | Is relativism really valid? |
| Profit Motive Firms produce only what society wants, and this promotes the highest level of efficiency. Increasing profits is always socially beneficial However, is this always so? (pollution, price fixing, bribery etc) By producing what the buying public wants, all wants are being met. What about the poor and disadvantaged? Loyal agent Protecting the best interests of the company and its owners Minimalist Just follow the law | Arguments against Business Ethics |
| Ethics governs all voluntary human activities, and so should govern business as well. Business is a cooperative activity whose success depends on adherence to at least minimum ethical standards Ethics is good business- some highly ethical companies are also very profitable In the long run, being ethical is good overall for everyone. | The case for business ethics |
| There are business schools—now mostly in Europe, at one time many in the U.S.—that educated their undergraduate students; they didn't set out to train them. Business schools are, of course, beset with calls for practical 'education'. But that term is an oxymoron. Anyone who insists on a practical undergraduate education should be sent to a trade school; he or she has no business in a university." Henry Mintzberg, Managers Not MBAs [2004], 384. | MBA or trade school |
| Julie is traveling in France on summer vacation from college with her brother Mark. One night they decide that it would be interesting and fun if they tried making love. Julie was already taking birth-control pills, but Mark uses a condom, too, just to be safe. They both enjoy the sex but decide not to do it again. They keep the night as a special secret, which makes them feel closer to each other. What do you think about that — was it O.K. for them to make love? | Moral Question |
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