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Lecture 9

ADMS 1000 Lecture 9: Lecture #9 Notes .doc


Department
Administrative Studies
Course Code
ADMS 1000
Professor
Eytan Lasry
Lecture
9

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LECTURE #9 NOTES
The Societal Context
Business Ethics
- Ethics: Study of morality or moral judgments, standards, and rules of conduct.
- Notion of business ethics has been considered as comprising the rules, standards,
principles, or codes giving guidelines for morally right behavior in certain
contexts
- To determine if an action is right or wrong, one must examine the “end result
or likely consequences of an action
-> Tangible economic outcomes (shareholder profit)
-> Intangible outcomes (happiness or friendship)
- Must achieve greatest amount of good for greatest number of people
(utilitarianism)
Limitations
- Difficulty in estimating or measuring relative benefits and costs to all
stakeholders affected.
- Process or means to achieve the results ignored
-> What if the means are unethical despite maximizing the greater good.
Rule Ethics
- An action is ethical based on:
1) Rules and Principles that guide behavior
2) Religious beliefs on what is morally right versus wrong; and
3) What is morally acceptable to the larger community?
- Can’t be applied universally
- Rules may not be applied consistently to our professional versus personal lives.
Ethics at Work
- Factors affecting decisions to engage in Ethical or Unethical Behavior
1) Corporate Culture
2) Decoupling
3) Job Routinization
4) Organizational Identity
5) Work Roles
What is a Stake?
- An interest or share in an activity
- A Right – legal right (e.g. fair treatment or a moral right) i.e. to expect
satisfactory service
- Ownership – a legal title to an asset/property
- A stakeholder is an individual or group who can affect or is affected by the
actions, decisions, policies, practices or goals of the organization.
Corporate Social Responsibility
- Obligation of corporate decision makers to take action to protect/improve
welfare of society as a whole along with their own interests
- Obligation to go beyond production of goods/services for profit and to act in
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