ADM 3319 Lecture Notes - Lecture 8: Cultural Relativism, Tacit Knowledge, Business Ethics

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Justice based (the theory of fair rules , ethical relativism. Categories of moral philosophies related to the ethical conduct of business: justice (the theory of fair rules ) > establish standard rules that are equity-based and transparent, and that apply to everyone. > three guiding principles: be equitable (outcomes, be fair (process, be impartial, cultural relativism. > no single right way because all cultures are di erent and no culture is any better or any worse than another. > what is unethical and even illegal in some countries is accepted and indeed expected ways of doing business in others => must look at the circumstances. > a code of ethics is a formal statement of an organization"s primary values and the ethical rules it expects its employees to follow. > codes of ethics are designed to perform one or more of the following four functions: a: decrease government regulation c.

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