LGLS 1101 Chapter Notes - Chapter 2: National Whistleblowers Center, Foreign Corrupt Practices Act, Civil Rights Act Of 1964
20 Apr 2017
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What is ethical is what is right. The major difference between law and ethics: the law is what one must do to avoid liability, while ethics is what one should do about doing the right thing . Sources of business ethics: advantage of ethical behavior. Attract clients to the business" products, thereby increasing sales and profits. Entice workers to remain in the company, reduce employee turnover and increase productivity. Interest more people to work for the enterprise, reduce recruitment expenses and enable the business to lure the most talented employees and. Keep the firm"s stock price high, thereby protecting the business from takeover. The ethical nature of a business can be placed into three groups: the legitimate enterprise, the criminal operation and those business that fall within the middle of the two: sources of ethical standards. These values are primarily obtained from three sources: culture, religion, and the laws of the state: ethical culture.
