Business Ethics

1
Business Ethics Social Responsibility

• Business Ethics
• Definition
• Principles and standards that determine
  acceptable conduct in business
• Relates to an individuals or work groups
  decisions that society evaluates as right or wrong

2

• Social Responsibility
• Concerns the impact of an entire businesss
  activities on society
• Ethics, Social Responsibility and laws work
  together as a compliance system

3
Why be ethical?

• Not just to feel and look good
• Good business reasons for strong commitment to
  ethical behaviour
• Profitability
• Lower stress for employees and managers
• Reputations stand over time
• Enhances leadership
• The alternative is costly

4
Ethical Issues

• CONFLICT OF INTEREST
• FAIRNESS AND HONESTY
• COMMUNICATIONS
• BUSINESS RELATIONSHIPS
• PLAGIARISM

5
Influences

• Ethical/Unethical Choices in Business are
  influenced by
• Individual standards and values
• Managers and Co-workers Influence
• Opportunity Codes and Compliance Requirements

6
Social Responsibility

• Four Dimensions of Social Responsibility
• ECONOMIC
• LEGAL
• ETHICAL
• VOLUNTARY

7
Social Responsibility Issues

• Relations with Owners and Shareholders
• Employee Relations
• Consumer Relations
• Environmental Issues
• Community Relations

8
Ethical Dilemmas

• 1. You are a work term student with Company X.
  Your roommate and is employed with a competitor,
  Company Y. Your manager knows that your friend
  works in the marketing dept. and has been asking
  questions about the new promotional plans for
  Company Y. He has hinted that you can make
  yourself and him look better by getting the
  inside scoop. You really like working for
  Company X and would like to come back for another
  work term since the pay is much higher than many
  of your classmates are getting. What do you do?

9
Ethical Dilemmas

• 2. You are the Assistant Manager of a Toy Store
  that has ordered 20 of this years most popular
  toy. These are vary hard to get and cost over
  300. A woman calls you begging for one of the
  toys for her very sick child, but 20 customers
  have already placed deposits on the toy and are
  expecting them for Christmas. You could tell
  the customers that only 19 toys arrived since
  they will be delivered directly to you. What do
  you do?