ADM 1301 Chapter Notes - Chapter 5: Businessperson, Economic Efficiency, Moral Authority
1 Feb 2017
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Document Summary
Business ethics - the rules, standards, codes, or principles that provide guidelines for morally right behaviour and truthfulness in specific situations. It illustrates how managers consider the ethical implication of business decisions: they are based on three levels of assessing ethical implication. It assumes an awareness of moral of ethical implications of business decisions. Value judgement - subjective evaluations of what is considered important; based on how managers intuitively feel about the goodness or rightness of various goals. Moral standards - the means by which individuals judge their actions and the actions of others based upon accepted behaviour in society. This level is used most by managers and most individuals. It represents more of a systematic analysis or assessment of ethical implications. Its based on the use of fundamental ethical principles to evaluate the outcomes from decisions or corporate actions. The influence on ethical behaviour are summarized in five categories.
