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Business Ethics and Ethical Decision Making

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CHAPTER 5 Business Ethics and Ethical Decision Making Chapter Objectives To define and describe the importance of business ethics To understand the diverse and ... – PowerPoint PPT presentation

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Title: Business Ethics and Ethical Decision Making


1
CHAPTER 5
  • Business Ethics and Ethical Decision Making

2
Chapter Objectives
  • To define and describe the importance of business
    ethics
  • To understand the diverse and complex nature of
    existing and emerging ethical issues
  • To discuss the individual factors that influence
    ethical or unethical decisions
  • To explore the effect of organizational
    relationships on ethical decision making
  • To evaluate the role of opportunity in ethical or
    unethical decisions

3
Business Ethics
  • Principles and standards that guide the behavior
    of individuals and groups in the world of
    business

4
Ethical Issues in Business
  • An ethical issue is a problem, situation, or
    opportunity requiring an individual, group, or
    organization to choose among several actions that
    must be evaluated as right or wrong, ethical or
    unethical.

5
Ethical Issues in Business
  • Honesty and fairness
  • Conflict of interest
  • Fraud
  • Discrimination
  • Information technology

6
The Ethical Decision Making Process
  • Factors that influence the ethical
    decision-making process include
  • Individual factors
  • Organizational relationships
  • Opportunity
  • The strongest factor influencing employee
    behavior is organizational relationships.

7
Moral Philosophies
  • Consequentialism
  • Egoism
  • Utilitarianism
  • Ethical formalism
  • Justice theory

8
Stages of Moral Development
  • Punishment and obedience
  • Individual instrumental purpose and exchange
  • Mutual interpersonal, expectation, relationships,
    and conformity
  • Social justice and conscience maintenance
  • Prior rights, social contract, or utility
  • Universal ethical principles

9
Kohlbergs Model
  • People progress through the previous six stages.
  • Cognitive moral development should be viewed as a
    continuum.
  • Peoples moral beliefs and behavior change as
    they gain education and experience.
  • There are universal values by whichpeople in the
    highest level of moraldevelopment abide.

10
Social Needs that Motivate Ethical/Unethical
Behavior
  • Need for achievement
  • Need for affiliation
  • Need for power

11
Corporate Culture
  • Values, beliefs, goals, norms, and rituals shared
    by members or employees of an organization.
  • What is important?
  • How do we treat each other?
  • How do we do things around here?

12
Significant Others
  • Superiors, peers, and subordinates in the
    organization who influence the ethical
    decision-making process

13
Opportunity
  • Conditions that limit barriers or provide
    rewards
  • Financial gain
  • Recognition
  • Promotion
  • Positive feelings from a job well done

14
How to Create EthicalRelationships in Business
  • Listen and learn.
  • Identify the ethical issue.
  • Create and analyze options.
  • Identify the best options.
  • Explain decision and resolve any differences that
    may arise.

15
Creating an Ethical Climate
  • Top managers, employees, and stakeholders must
    support the philosophy that all organizations
    have responsibilities that extend beyond legal
    and economic obligations.
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