BUL 4421 Lecture Notes - Lecture 2: Parking Meter, Business Ethics, Making False Statements

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9 Jun 2016
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8-22-15
Chapter two: Business Ethics
All law may not be ethical or some ethical may not be legal
Put money in someone's else's parking meter
Medical marihuana is ethical but it's illegal
Ending someone's life who's in suffer it's illegal but ethic
Nazis: it was a law to tell where the Jewish where, but it was unethical
Business ethics
Study of right or wrong behavior
Knowing what weather an action is fair, right or just
Application of moral principles and values to behavior
Where do we get ethics?
Natural law: violation of rights
Religious principles
Life experiences
Cultural and societal expectations
Parental and family influences
Educational experiences
Business ethics
Business ethics is the application of moral principles and values to situations that arise in
A business setting
Is important because
oEthical dilemmas
Forums where ethical lapses are addressed
oProfessional liability: loss of license to practice in certain profession
oCivil liability: initiated by harmed individual or administrative agencies such as
the SEC
oCriminal culpability: initiated by law enforce,net and/or prosecutors
Ethical dilemma
In many instances one knows wether a given action is legal (firing someone because of
their race is illegal)
In other instances the legality of a course of action is not as clear creating a grey area
Short run profit maximization
Some argue a business only goal should be to maximize profit as profit maximization
leads to last efficient allocations of scarce resources.
Executives have to differentiate short term and long term profit maximization
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