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Ch. 4 Business Ethics and Social Responsibility 4.1 Business Ethics Nature of Ethics Ethics: moral principles by which people conduct themselves personally, socially ... – PowerPoint PPT presentation

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Title: Ch.%204%20Business%20Ethics%20and%20Social%20Responsibility

Ch. 4 Business Ethics and Social Responsibility
  • 4.1
  • Business Ethics

Nature of Ethics
  • Ethics moral principles by which people conduct
    themselves personally, socially, or
  • Not cheating on tests or lying to your family
  • Business Ethics rules based on moral principles
    about how businesses and employees ought to
    conduct themselves.
  • Provide safe products
  • Treat employees fairly
  • Protect the environment

Law and Ethics
  • Whats the difference between laws and ethics?
  • What do laws do?
  • What do ethics do?
  • Code of Ethics a set of guidelines for
    maintaining ethics in the workplace.
  • Most businesses follow their own code of ethics.
  • Many unethical practices lead to the passage of
    laws that make them illegal.
  • Sweatshop a shop or factory in which workers are
    employed for long hours at low wages and under
    unhealthy conditions.

Ethics as Good Business
  • Code of ethics helps businesses police
  • Certain professions have their own code of
  • Doctors, lawyers, teachers, and journalist.
  • Unethical business practices
  • Lying, offering substandard products, treating
    customers or employees unfairly.

Conflict of Interest
  • Conflict of Interest a conflict between
    self-interest and professional obligation.
  • Suppose a manager hires their sister to do some
    work but she is clearly unqualified to do the
    job. Is this a conflict of interest? Why?
  • When making business decisions, employees have an
    ethical obligation to act in the best interest of
    the company.

Ethical Decision Making Process
  • 5 steps to helping you make an ethical decision
  • Identify the ethical dilemma
  • Discover alternative actions
  • Decide who might be affected
  • List the probable effects of the alternatives
  • Select the best alternative.

  • Ch. 4 Definitions-Packet
  • Review the questions on page 58, 1-3
  • Complete the Chapter 4-1 Reading Activity and
    Graphic Organizer
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