Rationalizations
Danica Patrick talking about race car drivers taking steroids
It's a gray area
Stealing office supplies
Taking things that don't belong to you
What is one definition of ethics that has the word "study" in it?
The study of moral standards
What is one reason to study ethics that has the word "neutral" and another reason that has the word "ethics" in it?
Value neutral societies/communities/corporations don’t work
Ethics is about how we should live as individuals as well as with each other
What is the first step of ethical reasoning
An executive pretends to be someone else in order to break into the system (to get their company funded) see: Ozy Media example in the book
The System is Unfair
Taking credit for an idea that someone didn't come up with
Giving or allowing false impressions
What is a credo?
A credo defines you and your ethical boundaries. It answers questions like, “who are you” and “what are your ethical boundaries”
What are two reasons to study ethics- one definition having the word "right" in it and another with the word "chaotic" in it?
We want to be people of character and do the right thing
Society is chaotic without ethical standards
What is the second step of ethical reasoning and what is it about?
Define Ethical Issue:
Defining the ethical issue is about creating a concise statement that asks what the company should do and why.
Someone steals $3.00 worth of office supplies
It doesn't really hurt anyone
Taking proprietary information from one job and giving it to another job
Hiding or divulging information
One definition of ethics that has the word "conduct" in it and another with the word "standard" in it
Principles of conduct governing an individual or group
A standard of behavior that tells us how as human beings we ought to act in the situations in which we find ourselves.
What are some "external" reasons why ethics is good for business?
Minimize litigation (unethical behavior easily descends into illegal behavior)
Enjoy greater regulatory freedom (red tape avoidance)
Have public acceptance and a good reputation (public opinion, reputational capital)
Environmental sustainability (in the long run venture may not be successful)
What are the components of the ethical issue definition?
Should:
Who (the actor facing the decision)
What’s the good course of action? (if already happening use the word “stop”; if thinking about doing it use the word “not”)
“Because”
A reason to do the right thing
“even though”
What is the cost?
We'll wait until the lawyers tell us it's wrong
Perpetrating Interpersonal Abuse
Why are ethics so hard?
People see the world differently—disagree about the facts, the values and principles, as well as the way a case is framed.
What are some internal reasons why ethics is good for business?
Build investor confidence (if investors do not trust company they may go somewhere else to protect their investment)
Enjoy business partner trust
Have loyal customers (customers affected by how they are treated; or how companies treat others)
Recruit and retain high performance employees
Under layers of business ethics, bribing officials is an example of something that occurs at which level?
Society
Contractor padding damage estimate of storm battered homes by adding on pre-storm repair items to defraud insurance company
If we don't do it, someone else will
Taking unfair advantage
What is a definition of business ethics?
A specialized study of moral right and wrong that concentrates on moral standards as they apply to business institutions,organizations, and behavior
What are some "deep reasons" why ethics is good for business?
Personal pride and honor (clear conscience)
Corporate mission identity (being in alignment with corporate identity)
Corporate citizenship (predicated on legal status of corporate personhood)
Just because it’s right (Immanuel Kant argued that ethical imperatives are never hypothetical but categorical meaning independent of all conditions and results. You just do something because it’s right.
Also, Christian precepts
Under layers of business ethics, employees cheating on the Fitbit is an example of which layer?