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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 13th 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