MGTS1601 Study Guide - Final Guide: Business Ethics, Foreign Corrupt Practices Act, Workplace Deviance
Ethics
Ethics can be defined as the code of moral principles that sets standards as to
what is good or bad, or right or wrong in one’s conduct and thereby guides the
behavior of a person or group Schermerhorn, , p.
伦理学可以被定为道德原则的准则, 它规定了什是好的或坏的, 或在一个人
的行为中的正确或错误, 从而指导一个人或群体的行为
Morals
Often used interchangeably with ethics, but generally refers to fundamental
beliefs about right and wrong, used to guide individual decisions
常与 伦理学 交替使用, 但一般指的是对错的基本信念, 用来指导个人的决定
Business Ethics
The study of business situations, activities, and decisions where issues of right
and wrong are addressed Crane & Matten, p.
… the principles, values, and standards that guide behavior in the world of
business 在商业世界中指导行为的原则价值和标准 Ferrell et al., 9 p.
Why do managers need to be aware of business ethics?
Negative Consequences of Deviance
• )mplications for individuals and organisations
Employee Commitment
• A recent National Business Ethics Survey revealed that 9% of
employees agree that ethics is an important consideration in
continuing to work for their organisation
Increased Profits
• Evidence indicates that companies that are perceived to have a
high degree of ethical behaviour and integrity have a higher
average total return to shareholders than those that do not
Customer Satisfaction
• Socially responsible behaviours will help to develop lasting,
productive relationships with stakeholders
Investor Loyalty
• )nvestors are attracted to companies which demonstrate socially
responsible practices and recognise that an ethical culture can
underpin efficiency and profits
Utilitarianism
Actions are right or wrong by virtue of their consequences greatest good
for the greatest number
Categorical
Imperative
This approach relies on absolute rules and universal laws that must be
followed, regardless of the situation at hand
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Document Summary
Often used interchangeably with (cid:498)ethics(cid:499), but generally refers to fundamental beliefs about right and wrong, used to guide individual decisions. )nvestors are attracted to companies which demonstrate socially responsible practices and recognise that an ethical culture can underpin efficiency and profits. Actions are right or wrong by virtue of their consequences (cid:523)(cid:498)greatest good for the greatest number(cid:499)(cid:524) This approach relies on absolute rules and universal laws that must be followed, regardless of the situation at hand. On the basis of adapting to cultural differences, this approach advises that within reason, (cid:498)when in rome, do as the romans do(cid:499) This approach focuses purely on the costs and benefits of decisions and how these will affect the decision-maker. This approach suggests that a decision is prohibited by law or policy (cid:523)e. g. , Foreign corrupt practices act(cid:524), then it is unethical. Conversely, any decision not expressly prohibited is considered to be ethical. This approach weighs costs and benefits according to the opinions of others.
