ethics

fairness

This is the standard of judging which is exempted from bias or prejudice

fairness

→A boss listening to both sides of the story before judging who is right and who is wrong.

fairness

An employer giving 13^th month pay to all his employees

fairness

→A person paying the right price for a product purchased or for a service received.

accountability

It is the explication and justification process. It is about testing, forming a judgment, and taking an action if necessary

accountablity

→A cashier admits he lost the company’s collection and it is his mistake.

accountablity

An engineer who is assigned on a project is the one to be blamed if the project did not meet the deadlines

transparency

Considers intrinsic or ethical salience as an important feature of the relational dimension o a person

transparency

. It is described as a personal quality which is necessary to develop unity between and among individuals.

transparency

→Reporting accurately the company’s financial situation and risks to investors

transparency

→Holding and selecting bids according to an open pre-defined process

fairness

giving the person what is due to him/her

accountability

explification and justification process

ethos

characteristic way of thinking”.

ethics

provides us with a common understanding of the universal, objective, and irreversible moral principles that should govern our human behavior and guide our moral decisions

ethics

moral principles that guide the conduct of the individual (Racelis, 2017)

ethics

moral principles that guide the conduct of the individual (Racelis, 2017)

ethical issues in finance

•fairness in trading practices

•trading conditions

•financial contracting

•sales practices

•consultancy services

•tax payments

•internal audits

•external audits

•executive compensations

ethical issues in finance

•insider trading

•bribery/kickbacks

•misleading financial analysis

•fraud on securities

ethical issues in hr

•discrimination by age

•gender preference

•sexual orientation

•race

•ethnicity

•disability

•physical appearance

hr

____ tasks inclde hiring and orientation, performance evaluation, training and development, labor relations, and health and safety concerns.

marketing

______ deals with the beliefs, standards and/or morals that advertisers and marketing organizations will operate upon

ethical issues in sales marketing

•promotion of obsolete or harmful products/sesrvices

•openness about environmental threats

•food ingredients  (GMO)

•possible health hazards or financial risks

•protection for the privacy and autonomy of consumers

ethical issues in marketing

•truthfulness in advertising

•honesty in price and delivery

•price manipulation

•price skimming

•offensive advertisements

•objectification

•school marketing

price skimming

is a product pricing strategy by which a firm charges the highest initial price that customers will pay and then lowers it over time

production

typically deals with company’s duties to ensure its goods and industrial procedures do not inflict unnecessary harm

code of ethics

set of rules about good and bad behavior. It is a guide of principles designed to help professionals conduct business honestly and with integrity.

code of ethics

outline the mission and values of the business or organization, how professional are supposed to approach problems, the ethical principles based on the organization’s core values, and the standards to which the professional is held.

socrates

The Gad-Fly at the Marketplace

socrates

The unexamined life is not worth living.”

socrates

pointed out that human choice was motivated by the desire for happiness.

Socratic Method

a way of thinking that allows individuals to define their own purpose of learning and exploring its purpose through open-minded questioning of what they hold to be true

socrates

Dare to Disagree

plato

The Philosopher-King

plato

He was the student of Socrates and the teacher of Aristotle.

plato

Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws

plato

happiness or well-being (eudaimonia) is the highest aim of moral thought and conduct

aristotle

All or Nothing

aristotle

Happiness is the meaning and the purpose of life, the whole aim, and end of human existence

aristotle

Let people seek fulfillment

aristotle

this happiness is our highest goal

aristotle

concludes that the role of the leader is to create an environment in which all members of an organization can realize their potential.

emmanuel kant

Duty based Ethics

emmanuel kant

Doing something for the right reason was more important than any particular outcome.

bentham and mill

Utilitarianism

bentham and mill

It believes that outcomes, as a result of an action have a greater value compared to the latter

utilitarianism

the end justifies the means”

utilitarianism

an action is morally right when the majority of people benefit from it

christianity

human dignity and concern for people are crucial

christianity

sense of justice in business such as strict adherence to contracts, compliance with regulations, and working for the benefit of the common good.

christianity

ought to focus on how business impacts individuals, the workers in particular

trading christian

does not try to win another's products or services for less than it is worth.

christianity

strict adherance to contracts

christianity

One should not want to get a decent deal for his own wares by using extortion

Judaism

market honesty, fair pricing, and business relationships.

judaism

Honesty on the market. It is illegal for traders to falsify the weight and measurement of the goods or products.

judaism

Fair pricing. There should be good value for money. You shall not cheat each other when you sell something to your neighbor or buy something from him or her.

judaism

Business relations. Employers are obligated to pay workers on schedule. One of the guiding principles for business ethics highlighted in the Jewish tradition is the legitimacy of business activity and profit, conducted within a framework of religious and ethical norms.

Isllam

putting restrictions on misleading advertisements

Islam

Contracts must be fair to both or all parties

Islam

Speculation, such as gambling, is not allowed. If the money comes from the gambling industry, one will not be allowed to invest in the Islamic Mutual Fund

Islam

Interest is prohibited

islam

When a business is in trouble, compassion is required

Buddhism

refraining from taking property, behaving unchastely, speaking wrongly, stealing, and drinking intoxicants

Buddhism

Empathy and compassion for the customers have to be developed.

buddhism

Your team, yourself and the consumer have to be respected

buddhism

environment-friendly.

buddhism

the principles of ethics and morals are governed by examining a certain action that must avoid any harm

hinduism

What is more important are ethics (dharma), and salvation (moksha).

hinduism

There must be high taxes on luxury goods

hinduism

Tax system should give reasonable rates, should be economical in its implementation, and should not have adverse impact on economic growthhi

hinduism

Workers should receive fair and just wages, depending on their ability and productivity