BUS 201 Chapter 3: Bus201 Chapter 3.doc
Document Summary
Ethics are beliefs about what is right and wrong or good and bad. Individual"s personal values and morals determine whether a particular behaviour is perceived as ethical or unethical. Ethical behaviour is behaviour that conforms to individual beliefs and social norms about what is right and good. Unethical behaviour is behaviour that individual beliefs and social norms define as wrong and bad. Business ethics is a term often used to refer to ethical or unethical behaviours by a manager or employee of a business. Managerial ethics are the standards of behaviour that guide individual managers in their work. Ethical and legal guidelines emphasize that hiring and firing decisions should be based solely on the ability to perform a job. Wages and working conditions are also areas for ethical controversy. Conflict of interest occurs when an activity benefits an individual at the expense of the employer. Honesty includes: stealing supplies, padding expense accounts, and using a business phone for long distance.