MGM101H5 Chapter Notes - Chapter 4: Corporate Social Responsibility, Federal Accountability Act, Accounting Scandals

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

The world"s major religions support the golden rule: do unto others as you would have them do unto you. Ethical behaviour should be exhibited in our daily lives, not just in a business environment. Sometimes the obvious solution from an ethical point of view has drawbacks from a personal or professional point of view. Sometimes there is no easy alternative in such ethical dilemmas because you must choose between equally unsatisfactory alternatives. Ask yourself the following questions when facing an ethical dilemma. Does it violate any law or company policy. Would i feel proud if others learned about my decision. Companies that develop a strong ethics code and use the questions above will have a better chance of behaving ethically. A business should be managed ethically for the following reasons: Keep existing customers and attract new ones. Avoid government intervention in the form of new laws and regulations controlling business activities.