3: Ethics in Business
- Page ID
- 48553
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)Describe the methods of encouraging ethical behavior and the laws encouraging good corporate practices
- Describe the history of business ethics as a topic in organizational behavior
- Describe the methods to encourage ethical behavior in contemporary organizations
- 3.1: Creating an Ethical Culture
- This page emphasizes the importance of upper management in shaping an organization's ethical culture through a well-defined code of ethics aligned with values. Human resources implement this code via training and enforcement, while managers at all levels, particularly lower management, lead by example and address ethical concerns. Consistent handling of ethics violations is crucial to maintain the organization's reputation.
- 3.2: Putting It Together- Ethics in Business
- This page emphasizes the importance of ethical culture for a company's success, noting that unethical behavior can damage reputation and internal culture. It highlights the necessity of addressing monetary and behavioral issues like discrimination and harassment, with a shared responsibility between employees and managers. The example of Luke demonstrates the dangers of compromising ethical standards.
- 3.3: Discussion- Ethics In Business
- This page outlines an update to the organization's Code of Conduct to reflect industry changes. Participants are encouraged to share their ethical principles and suggest guidelines for inclusion. Responses will be assessed based on timely submission, relevance, and engagement with peers. A total of 10 points is available, distributed between initial contributions and interactions with classmates.
- 3.4: Why It Matters- Ethics In Business
- This page emphasizes the importance of ethical behavior in business, using the example of a real estate agent, Luke, who faces an ethical dilemma by representing both buyer and seller, risking impartiality for personal gain. It argues that legality does not equate to ethics and outlines the negative impacts of unethical practices on productivity and culture. Understanding business ethics is vital for informed decision-making and fostering responsible conduct in the workplace.
- 3.5: Introduction to Business Ethics in Organizational Behavior
- This page emphasizes the vital role of business ethics in modern organizations, noting increased societal accountability and the millennial preference for ethical employers. It points out that integrating ethics into company culture is essential for success and aims to explore the definition and significance of business ethics in contemporary practices, linking ethical conduct to organizational achievement.
- 3.6: History of Business Ethics
- This page outlines the evolution of business ethics, emphasizing its complexity beyond legality. It traces its historical roots from ancient moral standards, such as the Ten Commandments, to the formal academic study established in the 1970s. Richard T. De George highlights various influences, including early ethical guidelines and the rise of social responsibility.
- 3.7: Business Ethics in the Workplace
- This page discusses business ethics as the recognition and action upon right and wrong in the workplace, encompassing personal, professional, and organizational ethics. It highlights the variability of personal ethics, the influence of industry training on professional ethics, and the importance of company-wide ethical standards. Key ethical issues include fraud, sustainability, diversity, and exploitation.
- 3.8: Recent Ethical Investigations
- This page outlines notable ethical scandals over the past 20 years, including Enron's fraud, Madoff's Ponzi scheme, Thompson's resume falsification, O'Reilly's harassment claims, Equifax's data breach, and Musk's misleading tweet. It highlights the repercussions of unethical conduct in business, such as legal issues and reputational damage, while stressing the need to learn from these incidents to avoid future violations.
- 3.9: Introduction to Behaving Ethically
- This page outlines methods for promoting ethical behavior in organizations, emphasizing the need to address both individual and corporate violations. It stresses the importance of ethical standards through hiring, training, and a comprehensive code of ethics. Accountability and daily audits are vital for ethical decision-making, as unethical actions can severely harm organizations. Ultimately, embedding ethics into all business decisions is essential for long-term integrity and success.
- 3.10: Hiring Ethically
- This page discusses the importance of effective hiring practices for companies, highlighting that poor hiring can negatively affect morale and productivity. It suggests strategies such as understanding team needs, using a structured recruitment process, and implementing behavioral interviews and personality tests to improve candidate selection.
- 3.11: Code of Ethics
- This page discusses the importance of a company's code of ethics, which guides employee behavior, clarifies professional expectations, and establishes organizational values. Though not legally required, it is a standard practice involving delivery, training, and employee commitment. Employees must adhere to the code and report unethical behavior, while management must address violations.
- 3.12: Training for Ethical Behavior
- This page highlights the necessity of training employees in ethical behavior and the company's code of ethics to ensure consistency and a strong ethical foundation. It advocates for various training methods, including refresher courses, and emphasizes the importance of management training for addressing ethics violations. The code of ethics should be a dynamic resource that is frequently consulted by all employees to maintain an ethical workplace culture.