BUS 200 Lecture Notes - Lecture 3: Code Of Law, Living Wage, Corporate Personhood

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Ethic is standards or values of what is morally right, what is morally wrong but there is no right or wrong answer as it all depends on the individual. Ethical behavior- behavior that is accepted as good and right in context of the governing moral code (determined by unwritten moral code of society) (cannot be enforced) Legal behavior- behavior that is accepted as good and right in the context of the governing law (written law in a country) (can be enforced. ) Legal ethical - fair trade produce ; emission reduction. Legal unethical - less safe working conditions in foreign country. Illegal ethical - breaking the law for humanitarian reasons illegal unethical - cooking the books. The values and practices of the local setting determine right or wrong. Universal values exist across cultures and determine right or wrong . Don"t do anything you wouldn"t do at home . The ability to build relationships with stakeholders.

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