COMMERCE 4SA3 Chapter 4: chpt4-4sa3
3 Dec 2016
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Document Summary
Ethics- accepted principles of right or wrong that govern the conduct of a person. Business ethics- accepted principles of right or wrong governing the conduct of business people. Ethical dilemma- a situation where there is no ethically acceptable solution. Our personal ethical code exerts a profound influence on the way we behave as business people. Organization culture- the values and norms shared among an organization"s employees. Straw men- ethics raised by business ethic scholars primarily to demonstrate that they offer inappropriate guidelines for ethical decision making in a multinational enterprise. Friedman doctrine- only social responsibility of business is to increase profits, so long as the company says within rules of law. Rejects the idea that businesses should undertake social expenditures beyond those mandated by the law and required for the efficient running of a business. Businesses should behave in an ethical manner and not engage in deception.
