An Overview of Business Ethics - Assignment

Part One
An Overview of
Business Ethics
Chapter 1
The Importance
of Business
Ethics
© 2019 Cengage. All rights reserved.

© 2019 Cengage. All rights reserved.
2
Learning Objectives
• Explore conceptualizations of business ethics
from an organizational perspective
• Examine the historical foundations and evolution
of business ethics
• Provide evidence that ethical value systems
support business performance
• Gain insight into the extent of ethical misconduct
in the workplace and the pressures for unethical
behavior

© 2019 Cengage. All rights reserved.
3
The Basic Concepts in
Business Ethics (1 of 4)
• Morals: Personal philosophies that define right
and wrong.
• Business ethics: Organizational principles,
values, and norms that may originate from
individuals, organizational statements, or from
the legal system that primarily guide individual
and group behavior in business.

© 2019 Cengage. All rights reserved.
4
The Basic Concepts in
Business Ethics (2 of 4)
• Principles: Specific boundaries for behavior that
often become the basis for rules (human rights,
freedom of speech).
• Values: Enduring beliefs and ideals that are
socially enforced (trust and integrity).

© 2019 Cengage. All rights reserved.
5
The Basic Concepts in
Business Ethics (3 of 4)
• Moral dilemma: Two or more morals in conflict
with one another.
• Value dilemma: Two or more beliefs/ideals in
conflict with one another.

© 2019 Cengage. All rights reserved.
6
The Basic Concepts in
Business Ethics (4 of 4)
• Ethical culture: Organizational principles,
values, and norms that are adhered to by the
company and its personnel.
• Corporate social responsibility: Actions
associated by firms with various stakeholder
(other than investors) interests as a priority.
• Sustainability: Relates specifically to the
environment (air, land, and water).