Chapter 4, Management
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Ethics- Code of moral principles and values that govern the behaviors of right or wrong.
A standard for what is good and bad
Most sucessful people in business of bad ethics
Domain of Human Action
Domain of Legal Standard
Domain of Ethics Social Standard (Social Standard)
Domain of Free Choice (Personal Standard)
Ethical arises in a situation concerning right or wrong when values are in conflict
Ethical Management today
Managers are responsible for setting an ethical climate and act as models
executive compensation has become a hot issue related to ethical management.
More businesses are being associated with greed and deceit and irresponsibility
Ethical Decision Making
Most ethical dilemmas involve a conflict between the needs of an individual versus the organization as a whole.
for example should products that fail to meet the FDA standards be sold in other countries?
The Utilitarian Approach to ethical decision making.
created by philosophers Jermy Bentham and John Stuart Mil. This approach says that you make the decision that does greatest good for the greatest number of people.
- example: you should kill one person to save 5 people.
- The utilitarian approach is cited as the basis for companies that monitor employee use of internet and police personal habbits because it affects the company as a whole
The individualism Approach to ethical decision making.
This approach states that acts are moral when they promote the individuals best long term interest.
In theory, under this approach, individuals would help each other to benefit their long term goals rather than cheat each other because it would hurt the individuals long term goals.
This approach is not widely adopted by organizations.
Moral-Rights Approach for ethical decision making.
This approach states that human beings have fundamental rights and liberties and therefore managerial decisions cannot violate individuals fundamental rights.
For example: managers need to avoid activities such as violating an employees right to privacy.
Justice Approach to Ethical Decision making
States that moral decision making must be based on standards of equity, fairness and impartiality
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