The way businesses is conducted has greatly evolved throughout the years. “The traditional perspective is, the business of business is making money.” (Bovee, Thil, Mescon. 2009, page 72) At what cost were profits being sought out? Due to various scandals in companies such as, Enron, WorldCom, and Citigroup, businesses have adapted a code of ethics. Code of ethics can be described as, “the values and principles that should be used to guide decisions.” (Bovee, Thil, Mescon. 2009, page 68) As the service industry rapidly grows, so does the demand for knowledge workers. How do ethics apply to these workers, and what information would be considered ethical or unethical to share if said employee left one company to work for its competitor? The foundation of a business’s ethics are, a strong foundation of ethical awareness, and very clear standards of behavior. Ethics is defined as, “the principles and standards of moral behavior that are accepted by society as right versus wrong.” (Bovee, Thil, Mescon. 2009, page 63) Moreover, “businesses are expected to compete fairly, honestly, communicating truthfully and not cause harm to others.” (Bovee, Thil, Mescon. 2009, page 65) Although companies may adopt all these rules and regulations for ethics, as Alan Greenspan, chairman of the Federal Reserve Board put it “rules are not substitute for character” (Bovee, Thil, Mescon. 2009, page 69) Knowledge workers have an ethical responsibility to only disclose un-harmful information to a previous employer’s competitor. Such as, the knowledge they developed and gained through personal experience. Additionally, they may be able to share any ideas they may have on improving day to day business, as long as, it was not an exclusive idea or process of past employers. As described were examples of ethical behavior, what would be considered unethical? Unethical behavior or an ethical lapse, which is when, “an individual makes a decision that is clearly wrong.” (Bovee, Thil, Mescon. 2009, page 72) Such behavior includes, “divulging trade secrets to a competitor.” (Bovee, Thil, Mescon. 2009, page 72) Also, sharing patent information, or anything…
Course 1: Ethics Businesses and Management
Introduction----what is business ethics?
The textbook says ‘ethics in management is concerned with those parts of organisational, operational, occupational and professional conduct that relate to absolute standards and moral principles.’1
Absolute standards and moral principles are always varying due to different views. For example, foods from fast/convenience restaurants like McDonalds and Burger King are unhealthy. On one hand, the manager does not…
In order to understand ethics lets define it. “Ethics: an area of study that deals with ideas about what is good and bad behavior: a branch of philosophy dealing with what is morally right or wrong” (http://www.merriam-webster.com/) Trust in chooses individuals make in support of their company or themselves is defined by their character. In today’s companies the thin line between trust in individuals as well…
Ethics add value to a person and in turn, to society. Ethics require a personal code, a set of beliefs and values that help us to make meaningful choices. The key word in this last statement is, “choice.” Perhaps the most beautiful aspect of humanity is the diversity of thought and lifestyle. I believe that ethics and diversity go hand in hand, as each individual has developed their codes based on their personal experiences and backgrounds. It is this fact that I do not believe in one set of ethics…
Ethics in the Work Place
I chose ethics in the workplace because it is a topic that is very important in my opinion, but one that gets overlooked so many times. Each person has their own views and thoughts of what is right and what is wrong and how to deal with them. While you may think that one particular person may not necessarily be right or wrong the law would beg to differ on certain situations. Other times what one considers to be an ethical decision is not always a legal matter, so the line…
enter their own personal account to accumulate other people’s points. Companies have established policies and procedures to make sure that the company is always in benefit and everything is correctly done that the CEO would agree with.
The Code of Ethics of a company is mainly to assist members in making decision while working. Some decision are “wrong” and some are “right” according to the company policy. Within the document, the company’s values and mission statement are woven in between it. Many…
Social, Legal and Ethical Issues
What is Ethics?
What is the origin of ethics? What are the different approaches and teachings of ethical reasoning? How are these approaches used to make an ethical decision? How are ethics relevant to both an individual and a corporation?
The origin of the term ‘ethic’ has been around for centuries. The word ‘ethics’ is from the Greek word ‘ethos’ which is translated to equate to English as ‘character’ or ‘custom’. Furthermore…
How have you educated your boss, peers, or direct reports about what you are learning in class?
We hold bi-weekly team meetings to ensure cohesive communication. Over the last month, I presented the ethics benchmarks to our team and we discussed how it applied to our organization. The staff became highly engaged in these exercises, as it brought us together to think about how our organization conducts itself in a more ethical manner. The owner of our organization, also present in the meetings, was…
Environmental Ethics: Catholic View
Ethics are values and attitudes that inform the public on what is wrong or right. One of
the global ethical concerns is centers around environment issues. The environment has enticed
concerns from philosophers, religious leaders, ethicist, policymakers, lawyers, environmental
professionals, economists, ecologists, wildlife biologists and conservationist; all who have an
ethical concern about human uses and interaction with their environment. Environmental ethics
Ethics and Social Responsibility
Feb. 22, 2014
Ethics and Social Responsibility
Ethics is the science concerning the right and wrong of human action (Boylan, 2009). As children we are taught by our parents right from wrong, but as adults we have to make decisions to do the right or wrong thing. My personal experience is when I went to Wells Fargo Bank to cash my check. The teller over paid me by fifty dollars. When I realized the teller overpaid me, I return to the bank…