MGT 3200 Chapter Notes - Chapter 4: Virtue Ethics, Egotism, Relativism
Document Summary
Learning objectives: describe how different ethical perspectives guide managerial decision making. Ethics refers to the moral principles and standards that guide the behavior of an individual or group. Ethical decisions are guided by the values or principles of conduct such as honesty, fairness, integrity, respect for others. Ethical systems include: universalism, egoism, utilitarianism, relativism, virtue ethics. Practiced according to level of cognitive moral developments. Identify the ethics-related issues and laws facing managers. How to react to manipulative or deceptive marketing practices. Sarbanes-oxley act requires companies to have more independent board directors, adhere strictly to accounting rules, and have senior managers personally sign off on financial results. Ethical climate, or processes by which decisions are evaluated, can influence employee behavior. Different managers apply different ethical perspectives and standards. Ethics codes are helpful but must be implemented carefully. Ethics programs cans range from compliance-based to integrity-based.
