GBA 490 Lecture Notes - Lecture 9: Business Ethics, Middleground, Microsoft Powerpoint
29 Mar 2020
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Document Summary
Business ethics application of general ethical principles to the actions and decisions of businesses and the conduct of their personnel. Not materially different from ethical principles in general because business actions must be judged in the context of society"s standards of right and wrong. Ethical universalism holds that common understandings across multiple culture and countries about what constitutes right and wrong give rise to universal ethical standards that apply to all societies, all firms, and all businesspeople. Effect on business ethics: whether a business-related action is right or wrong is judged by universal standards. Ethical relativism holds that differing beliefs, customs, and behavioral norms across countries and cultures give rise to multiple sets of standards of what is ethically right or wrong. Effect on business ethics: whether business-related actions are right or wrong depends on local ethical standards. Codes of conducts can be ethically problematic for multinational companies by creating a maze of conflicting ethical standards.
