Morals &
These are the personal guidelines and principles that guides a person's actions and behaviors
Morals
These are the guidelines that are outlined by a company that dictate acceptable company behaviors
Ethics
Whose philosophy stated that the Golden Mean is defined as the path of moderation between the 2 extremes of excess and deficiency. To make a moral decision, one must avoid extremes and implement moderation.
Aristotle
These factors can cause an increase in unethical behavior
Project constraints - schedule, budget, scope, quality, risk and resources
These are the guidelines put together by an organization to provide a company "moral compass"
Codes of ethics; codes of conduct
This is the amount of time that philosophers have been discussing the topic of ethics
More than two millennia (2000 years)
Whose philosophy stated
The Categoric Imperative encourages people to solve problems ethically with 3 criteria:
You must act as would wish to see others act.
You must not use people as simply a means to an end.
You must be able to apply your actions universally.
Immanuel Kent
Everyone!!
The individuals responsible for ensuring that company ethics are practiced in the workplace and modeling proper behavior
Leaders
Businesses are under increasing pressure to manage based on this desired outcome
Profit. Businesses are under increasing pressure to manage for profit, no matter what cost to other areas of concern, which require increased commitment to sometimes difficult decisions
Whose philosophy stated The Principle of Utility states that ethical decisions should consider what action provides the greatest good for the greatest number of people. Maximize value and minimize loss.
John Stuart
Scenario: Your company is asked to make candy for soldiers in the war.
Make them at cost, so there is no profit
This is a way that leaders can demonstrate ethical conduct
Discuss ethics in the workplace
Develop awareness & create procedure for reporting conerns
Include team in ethical decisions
A benefit for a company displaying ethical behavior
Builds trust - among team members, within organization, and with stakeholders. Ability to retain and attract the best employees, development of better processes, increased customer loyalty, and increased credibility
Whose philosophy of the Veil of Ignorance theorizes that ethical decisions can only be made when all discriminating factors (social position, money, prejudices, personal beliefs, etc.) are removed.
Decisions made under the "veil of ignorance" will always be completely fair because the decision maker has no bias to discriminate.
John Rawls
Scenario: Your factory burns down - it will cost more to rebuild than the $$ from insurance will pay. Do you rebuild to keep jobs in your small town that needs it?
Keep everyone on the payroll & rebuild.
*The company did eventually close due to bankruptcy, however the owner said he would do the same thing again since "it was the right thing to do"
The most effective way to ensure that ethical conduct is conducted
By enabling ethical conduct through trust and communication, rather than preventing misconduct with the threat of detection and punishment
A consequence of unethical behavior on a company
Destroys trust among both employees and clients. Results in negative long-term effect on the organization including loss of public image, funding, and criminal/civil investigations
Who stated "The time is always right to do what is right."
Martin Luther King, Jr.
Scenario: A senior VP of a large Asian company is on the forefront of adopting strict ethical codes and guidelines, but is finding it difficult to do do business with those regulations in particular markets, especially regarding bribery. What do you do?
Stick to the ethical principles, and hold joint-venture & contractors to that code as well. Went out of their way to make sure that the code was followed, including an audit team to report to the board of directors. Strong leadership allowed the company to weather the 1997 collapse of Thai currency and reduce it's debt
Name the 7 Corning values
Quality - Integrity - Performance - Leadership - Innovation - Independence - The Individual