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ADM1301 (73)
Chapter 5

ADM1301 Chapter 5 Textbook Notes

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John Palmer

Chapter 5: Ethics of Business: The Theoretical Basis 5.1 – Introducing the Ethics of Business  Ethics has always been a concern for society, and businesses are no different.  To some extent this has been the result of the traditional view of free enterprise system. o Alleging that profits are the only motivating force for business o Business activity requires and rewards deception o Business innovations the law o Businesspersons and managers manipulate others o Business leads to materialism Business ethics is difficult to define, as it is apparently means different things to different managers. 5.2 – Assessment of Ethical Implications in Business Decisions  The three levels of assessing ethical implications are: awareness, assessment based upon influences, and assessment based upon ethical principles.  Managers with a moral approach to us thanks disregard all moral responsibilities when making decisions.  In order to assess ethical implications there must be an awareness of ethics.
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