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Chapter 1

Essentials of Business Ethics, chapter 1.docx

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Department
Business
Course
BUSI 4705
Professor
Diane Huberman- Arnold
Semester
Fall

Description
Essentials of Business Ethics – Chapter 1: Human Nature and Unethical Behavior in Organizations Providing goods and services enriches the quality of life and employment, which are very ethical endeavors. Ethics is the set of principles a person uses to determine whether an action is good or bad. Each decision and action is subject to ethical analysis. Action sequence consists of the motivation behind the act, the act itself and the consequences of the act. Competitive advantages of ethical organizations - Ethical organizations financially outperform unethical organizations 1. Attract and retain higher quality employees  and leads to higher levels of employee satisfaction and loyalty 2. Attract and retain higher quality customers 3. Attract and retain higher quality suppliers 4. Attract and retain higher quality investors 5. Earn goodwill with community members and government officials 6. Achieve greater efficiency and decision making, based on more reliable information from stakeholders 7. Achieve higher product quality 8. Need less employee supervision Managing morally imperfect people Managerial challenge: to coordinate the transformation of inputs into products and services in a way that respects the dignity of owners, employees, customers, suppliers, the host community and the natural environment. Dishonesty could be a lie of commission (falsely telling the boss that the work is complete) or a lie of omission (not telling the boss anything about the incomplete work) What is the extent of unethical behaviors at work? 52% of respondents observed a misconduct in the last year, of which 55% were reported to mana
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