MGM101H5 Lecture : Chapter 5 Notes (on Ethics)

78 views3 pages
School
Department
Course
thomasjalarcon and 38454 others unlocked
MGM101H5 Full Course Notes
25
MGM101H5 Full Course Notes
Verified Note
25 documents

Document Summary

Mgm chapter 5 notes: ethics and social responsibility. Ethics is more than legality: ethical does not only mean legal. Many immoral and unethical acts fall well within laws. However, following the law is a first step towards being ethical: morals are beliefs that individuals have to determine right from wrong, while ethics is the societal standard of moral behavior. Ethical thinking must override moral thinking in firms: ethical behavior begins with you and me. 2employees must understand that management follows the code, and they are expect to do so also. 3everybody must be trained to consider ethical implication of all business decisions. 4an ethics office must be set up, with a way for whistleblowers to feel protected from retaliation or exposure. Officers need strong communication skills and skills in investigation. Practitioners" association of canada) supports people who want to go into the career of business ethics. 5inform stakeholders such as suppliers, contracters, and customers about the ethics code.