GMS 802 Lecture Notes - Lecture 1: Soundness, Business Ethics, Ethical Decision

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 802
• Professor: Jian Guan

Document Summary

Identify ethical issues created by diverse business situations and relationships and the level of decision making required to address them. Nature of business: distinguishing features of business, business economics, business organization. Levels of decision making: three levels of decision making, the individual, the organization, the business system, ethical displacement. The problem confronts an individual and requires that person to make a decision about his or her own response. The problem requires that the individual decision maker act on behalf of the organization to resolve the situation and possibly bring about some organizational change. The problem results from accepted business practices or from features of the economic system which cannot be effectively addressed by any single individual or organization. Argument: the law cannot regulate all aspects of business activity, the law is often slow to develop in new areas of concern. 3. the law often employs moral concepts that are not precisely defined.