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Chapter 4

Chapter 4 - Ethics and Social Responsibility

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McMaster University
Rita Cossa

Chapter 4Ethics and Social ResponsibilityEthics is more than legality A society gets in trouble when it considers ethics and legality to be the sameEthics and legality are two very different thingsEthics reflects peoples proper relations with one anotherLegality is narrowerIf revers to laws we have written to protect ourselves from fraud theft and violenceEthical standards are fundamental Ethics standards of moral behavior that is behavior that is accepted by society as right versus wrong People seem to think that what is right is whatever works best for them that each person has to work out form themselves the difference between right and wrongThat is the kind of thinking that has led to the recent scandals in government and business Among sources from many different times and places youll find the following moral values integrity respect for human life selfcontrol honesty courage and selfsacrifice are right cheating cowardice and cruelty are wrong Golden rule Do unto others as you would have them do unto youEthics begin with each of us Less people donating more being donated Techno stingposting false answers to an accounting exam on a web site12 used them Two studies found that there is a strong relationship between academic dishonesty among undergraduate students and dishonesty later when they were in the working world Ethical dilemmasmust choose between equally unsatisfactory alternativesAsk yourself the following questions when facing an ethical dilemma 1 Is it legal 2 Is it balanced 3 How will it make me feel about myselfManaging businesses ethically and responsibly Organizational ethics begin at the topIt is caught more than taught Any trust and cooperation between workers and managers must be based on fairness honesty openness and moral integrity A business should by manage ethically to maintain a good reputation to keep existing customers to attract new customers to avoid lawsuits to reduce employee turnover to avoid government intervention to please customers employees and society and to do the right thing Ethics has everything to do with managementSetting corporate ethical standards Ethics codes vary greatly but can be classified into two major categoriesCompliancebased ethics codes ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers
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