good governance PPT2

Moral reasoning

refers to the process of reasoning by which human actions, structures, or policies are deemed to adhere to moral values or to violate them.

Moral reasoning two important components:

1. an interpretation of what appropriate moral standards require, forbid, or to value, or condemn; and

2. facts or knowledge that will demonstrates the kinds of characteristics that these moral standards requires, forbid, support, support, or actions of a specific individual, policy, organization, or conduct.

MORAL REASONING IN BUSINESS

Although moral reasoning may be carried out on behalf of another, it is paradigmatically the first-personal (individual or collective practical reasoning of an agent on what they should, morally, do. Both distinctive puzzles face philosophical analysis of moral reasoning.

We understand moral factors and deal with contradictions between them and how they drive us to act and distinctive possibilities for gaining insight into what we should do trom now we think about what we should do.

Enthicist use three key principles to determine the adequacy of moral reasoning

1. Moral reasoning must be logical

2. Factual evidence must be accurate, relevant, and complete.

3. Moral standards must be consistent.

True

The principles of moral ethics can be intused into every company Ethical businesses recognize the impact of socially responsible companies and agree that doing so leads to increased sales, customer satisfaction, and a decline in employee turnover.

True

Business ethics is concerned with the application of a moral framework tha he heat veng can inter th cha be th May genetions

work, trom coping with human resources concerns to sales and marketing policies.

Normative part

The _____ of business ethics has to do with understanding, how the behavior you and your employees exhibit in relation to cultural issues or social upbringing. The key to business owners' normative ethics is to understand how personal beliefs affect the choices made as a business owner.

Descriptive part

The _____ of business ethics, on the other hand, is related to how you incorporate "best practices" into your organization's policies and procedures.

Stop and think

Recognize the ethical decision and avoid making a rash decision.

E.g. Should I download music illegally?

Clarify goals

Understanding our goals, both long-term and short-term, can help us determine our desired of expected outcome.

E.g. My goal is to have a wide variety of music on my iPod

Determine facts

When determining facts, we need to consider our source of information.

E,g. Facts might include that it is illegal to download music and I could get caught.

Develop options

Look at possible options by brainstorming a list of options.

E.g. Option one: download music; option two: don't download but purchase the song instead

Consider consequences

Who and what will be affected by my choice? What good and what harm could my choice bring?

E.g. The harm might include the following: downloading for free means that the artist is not being paid for it, the artist may stop producing music. The good might include the fact I would have this song on my playlist.

Choose, monitor, modify

Make your ethical choice and after the choice is made, consider if it was the right one, how you felt about it, and what you might do different next time.

E.g. I choose not to download. After making that choice, I consider if that was the right choice.

The Good and the Bad Sides of Profit-Motive

1. Profit motive motivates people to do something meaningful, e.g., it gives human life a goal to pursue and something to live for.

2. Profit-motive promotes ingenuity and cleverness in running a business e.g., business leaders and entrepreneurs have to struggle to overcome obstacles in order to achieve success.

3. Profit-motive makes people productive. Because of their desire for money businessmen have become productive and some of their products have been useful and have enhanced human life.

4. Profit-motive generates potential capital for the business. Profit is potential capital, something that can be invested to establish new businesses. In this way, profit also results in more jobs and more goods and services for the public and the society as a whole.

THE MORALITY OF PROFIT

1. A profit motive is, very literally, most firms' purpose, to make a profit or to get more revenue come into the company than the company spends.

2. It is widely considered in capitalism to be the primary reason that most corporations exist and is closely related to the idea of "self-interest."

3. It has also developed a fairly bad reputation and is considered by many to be one of the key reasons why companies or businesses are not trusted or need regulation. Ultimately, a profit motive should be absent of morals. Others' decisions to seek higher profits should usually be taken into consideration instead of the incentive for profit itself.

True

• Businessmen deal with suppliers, customers, workers, employees, and even competitors.

True

• Business Ethics are the principles and standards that define acceptable conduct in business.