Foundation of Business Ethics

Bloom’s Taxonomy of Learning

Create → Evaluate →Analyze → Apply → Understand → Remember

Objections to Ethics

Too theoretical, no right answers, no lasting impact, just compliance, window-shopping relations

Business ethics

the moral principles guiding companies and individuals in the business world. Operate on two levels (Descriptive and normative)

Ethics

systematic study of morality, principles of right and wrong, good and bad, justice and injustice. Greek word ethos (character, custom) and historically referred to the habits

descriptive ethics

focuses on what people and cultures actually believe about right and wrong,

normative ethics

focuses on what people ought to do and the principles that justify those claims

Key themes of business ethics

integrity and fairness (ensure honesty in reporting, advertising etc.) Corporate social responsibility (balance sustainability and welfare), Accountabilty and transparency (building trust through open communication and responsible governance. Globaliziation and cultural relativism ( ethical standards across diverse cultural and legal environments)

Common issues of ethical issues

1. Potential for Harm, 2. Moral principles at stake, 3. conflict of rights, duties, values, 4. fairness and justice 5. integrity and honesty at stake 6. public trust and reputation 7. transparency and accountability 8. stakeholder impact

Identifiyng ethical issues

1. ask probing questions

2. encourage open dialogue

3. use case studies and training to build ethical recognition skills

4. monitor organizational culture to encourage ethical awareness and reward long-term results

Common types of ethical issues

1. conflict of interest

2. financial misconduct

3. misleading marketing and advertising

4. discrimination and harassment

5. employee privacy and surveillance

6. health, safety, and environmental responsibility

7. whistleblowing and retaliation

8. technology and data ethics

How are ethics formed

early socialization, modeling and imitation (copy from parents, peers, etc.), reinforcement/consequences, stories adn rituals, institutions/roles, emotion and empathy, reasoning and reflection, diversity/contact, life events/crises

Widely held ethics

1. Care/Avoid harm

2. Fairness/ Reciprocacy

3. honesty/truthfulness

4. promise-keeping / reliability

5. respect for persons

6. property

7. loyalty/group duty

8. courage / fortitude

9. respect for legitimate authority

10. gratitude

How to identify ethical issues

developing moral awareness