Fina 315 Notes Essay

Submitted By 昊-杨
Words: 4209
Pages: 17

Personal and Professional Ethics

While there may not exist any universal definition for personal or professional ethics, ethics reflects the concern for the well being of our fellow man. Ethical principles are not absolute, nor carved in stone, as ideas and beliefs will develop and change over time as the views of society change. What is considered acceptable ethical practices in one country today may be considered unethical or even illegal in another country.

As noted in the attached document entitled “A Framework for Universal Principles of Ethics”,
A: personal ethics deal with issues including:
Concern for the well-being of others
Respect for the autonomy of others
Trustworthiness & honesty
Willing compliance with the law (with the exception of civil disobedience)
Basic justice; being fair
Refusing to take unfair advantage
Benevolence: doing good
Preventing harm.

B: professional ethics deal with issues including:
Impartiality; objectivity
Openness; full disclosure
Due diligence / duty of care
Fidelity to professional responsibilities
Avoiding potential or apparent conflict of interest.

Additional ethical issues that can be addressed in COMM 315 include:
Independence of director and officers
Fiduciary duty to employers
Fiduciary duty to clients
Insider information
Misconduct / criminal behaviour
Whistle blowing
Harassment of coworkers
Misappropriation / misuse of employer’s property
Product safety

While many ethical principles have been incorporated into legislation and have therefore acquired a legal status that all must respect, on pain of punishment, remind the students that Ethics is not Law. The excerpt by John R. Boatright entitled “The Relationship of Ethics and the Law” attached hereto discusses the relationship between law and ethics.

How do we resolve an ethical issue, what is the “right” thing to do? While no absolute answer exists for this question, a company should have an internal process by which questions / complaints / concerns may be addressed. A company could provide a 24 hour confidential hotline, or the services of an Ombudsman to deal with these issues. Failure to provide an effective internal conflict resolution process could lead to stress, frustration and unethical activity. In order to help employees and managers understand their ethical responsibilities it is good corporate practice to adopt a formal written Code of Conduct that should be given to all employees before they start their job.

The third attached article entitled “Resolving Ethical Dilemmas in the Workplace” addresses the types of conflicts that may arise in an organization. The three “ethics checks” proposed by Blanchard and Peale (1988) referred to in this article should be helpful in guiding the students through the process of identifying, discussing and resolving ethical problems.

There is never an absolute “correct” ethical answer to a problem. The interests of the various stakeholders need to be weighed off against each other to enable the decision maker to come up with what he/she feels is the most viable solution based on all of the circumstances. The principle stakeholders whose interests may conflict include the business owner, employees, management, customers, clients, suppliers, creditors and the community.

2086 Fixed Term: starting in a date and ending in a certain
Undetermined Term: starting on a certain date but no exact end date
i.e.: 6 months pregnant lady in probationary period gets fixed because she’s pregnant and claims that she was fixed for the wrong reason.
Labour Standard de Travail: they get you your job back if you were fired for no valid reason.
If you were working for 2 years and got fired, and thought that there is no valid reason to be fired, you can apply to ‘’Labour Standard de Travail’’ to get your job back (it has nothing to do with the