MGMT 1000 Chapter 3: Business- Chapter 3

• School: University of Guelph
• Department: Management
• Course: MGMT 1000
• Professor: Kathleen Rodenburg

Document Summary

Ethics: beliefs about what is right and wrong or good and bad. Business ethics: ethical or unethical behaviours by a manager or employee of a business. =standards of behaviour that guide individual manager in their work. A conflict of interest= occurs when an activity benefits the employee at the expense of the employer. Make an ethical judgement based on the rightness or wrongness of the proposed activity or policy. Step 2: 4 commonly used ethical norms we can use to make this determination: 3 general factors that cause individuals to act unethically: Pressure (the employee has some problem that cannot be solved thru legitimate means) Opportunity (the employee uses his or her position in the organization to secretly solve the problem) Demonstrate top management commitment to values and high ethical standards. Corporate social responsibility: the way in which a business tries to balance its commitments to important individuals and groups in its external environment.