MGT 2106 Lecture Notes - Lecture 9: Business Ethics, Mci Inc., John Stuart Mill

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What is ethics study of what is right and wrong behavior ethics starts where law stops. If law on point there really is no ethical issue. Business ethics right and wrong behavior in business world and how moral and ethical principles are applied by business people to situations which arise in their daily activities in work place. Understanding of business ethics is important to long term viability of corporations and is important to well being of officers and directors. Ethics includes needs of shareholders, employees, customers and society in general. Ceo cheating on expense reports others in the company will then do worse. Permitting of sexual harassment of females or discriminating against minorities (these are illegal but are also unethical) Leaders in company must set an ethical tone . Managers behavior more than anything else sets ethical tone. This tone effects economic success of business it is not just a gratuitous behavior.

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