BUS 223 Chapter Notes - Chapter 1: Whistleblower, Macroethics, Practical Reason
Document Summary
Introduction making the case for business ethics. Examples of businesses involved in scandals: volkswagen, enron etc. Business ethics as a process of responsible decision making. Every worker, individual in a management role will be faced with an issue that will require. Decisions can be covered by economic, legal or company rules, but more often than not, one ethical decision making must rely on person values and principles. Direct costs of unethical business are more visible today than ever. Real estate values decline, domestic credit markets freeze. Misconduct based on fraud alone = 2. 9 trillion of the 2009 gross world product. Beyond law and institutional rules, we must reply on our ethical judgements to reach decisions. Bernie madoff pyramid scheme harmed so many organizations and individuals. Stakeholder: in a general sense, a stakeholder is anyone who can be affected by decisions made within a business.
