COMM 306 Lecture Notes - Lecture 1: Business Ethics, Deontological Ethics, Social Contract
Document Summary
Ethics consists the standards of behavior to which we hold ourselves in our personal and professional lives. It establishes the level of honesty, empathy and trustworthiness and other virtues. In personal lives, our ethics sets norms for the in which we interact with family and friends: professional lives, ethics guides our interaction with customers, clients, colleagues, and shareholders affected by our business practices. Business ethics guides the conduct by which companies and their agents abide by the law and respect the rights of their stakeholders ( customers, clients, employees and the surrounding environment) Integrity = unity between what we say and what we do. Acting with integrity means we adhere strongly to a code of ethics, it implies trustworthiness and incorruptibility. Compliance: in terms of business ethics generally refers to the extend to which a company conduct its business operations in accordance with applicable regulations, statutes and laws (baseline minimum) Ethical acts are generally considered voluntary and personal.
