MGTS1601 Lecture Notes - Lecture 9: Cultural Relativism, Jian Ghomeshi, Foreign Corrupt Practices Act
Document Summary
Lecture 9 ethics and the dark side of ob. Ofte(cid:374) used i(cid:374)te(cid:396)(cid:272)ha(cid:374)gea(cid:271)l(cid:455) (cid:449)ith (cid:862)ethi(cid:272)s(cid:863), (cid:271)ut ge(cid:374)e(cid:396)all(cid:455) (cid:396)efe(cid:396)s to fu(cid:374)da(cid:373)e(cid:374)tal (cid:271)eliefs a(cid:271)out (cid:396)ight and wrong, used to guide individual decisions. Employee commitment: a recent national business ethics survey revealed that 79% of employees agree that ethics is an important consideration in continuing to work for their organisation. Evidence indicates that companies that are perceived to have a high degree of ethical behaviour and integrity have a higher average total return to shareholders than those that do not. Socially responsible behaviours will help to develop lasting, productive relationships with stakeholders. Investors are attracted to companies which demonstrate socially responsible practices and recognise that an ethical culture can underpin efficiency and profits. Actions are right or wrong by virtue of their (cid:272)o(cid:374)se(cid:395)ue(cid:374)(cid:272)es (cid:894)(cid:862)g(cid:396)eatest good fo(cid:396) the g(cid:396)eatest (cid:374)u(cid:373)(cid:271)e(cid:396)(cid:863)(cid:895) This approach relies on absolute rules and universal laws that must be followed, regardless of the situation at hand.
