Ethics (General)
The unwritten rules for behavior that are generally accepted for society
What are ethics?
The greatest good for the greatest number of people
What is Utilitarianism?
"primum non nocere"
Make sure you have a grasp of all of the facts available.
What is step one?
You are silent while a coworker gets blamed for something you did
What is Giving or Allowing False Impressions category of Ethical Dilemmas?
One ought only to act such that the principle of one’s act could become a universal law of human action in a world in which one would hope to live.
What is the Categorical Imperative (Immanuel Kant)?
Is it legal? Is it balanced? How does it make me feel?
What is Blanchard and Peale?
Make a recommendation on the actions that should be taken.
What is step two?
“If we don’t do it, someone else will”
What is a rationalization?
Develop virtues and determine conduct by those virtues.
Who are Plato and Artistotle?
Contemplating any business act, an employee should ask himself whether he would be willing to see it immediately described by an informed and critical reporter on the front page of his local paper, there to be read by his spouse, children, and friends. At Salomon we simply want no part of any activities that pass legal tests but that we, as citizens, would find offensive
What is Front of the Newspaper Test?
Take each person involved in the dilemma and list the concerns they face or might have.
What is step three?
A manager is responsible first to shareholders, but serves them best by being responsible to larger society
What is the Enlightened Self-Interest School of Social Responsibility?
We all act in our own self-interest and limit our judgments to our own conduct, not the conduct of others
What is Ethical Egoism?
To whom and what do you give your loyalties as a person and as a member of the corporation?
What is a question from Laura Nash?
Evaluate the resolutions for costs, legalities, and impact.
What is step five?
Business ought to serve society and it does so best when it is responsive to shareholders
What is the Invisible Hand School of Social Responsibility?
Putting ethical standards in place by a social contract. Rational thinking people develop a set of rules for everyone.
What is Contractarians and Justice?
The 3 C's: Consequences, Compliance, Contribution in evaluating an ethical dilemma
What is the Wall Street Journal Test?
Present information to the head of the company and other employees
What is NOT a step for analyzing ethical dilemmas?