Engineering Ethics and Moral Philosophy - Ethics in the Business World & IT

Nokia's Lumia 920 camera advertisement misrepresented its technology, leading to public apology and ethics review.
Nokia faced ethical issues moving production from Germany to Romania to Asia, and was penalized for subsidies.
Nokia Siemens Networks provided technology to Iran that enabled the government to intercept citizens' Internet communications.
Nokia supported a law allowing corporations to monitor employee electronic correspondence, conflicting with Finnish privacy values.
Nokia experienced financial losses and market share decline due to poor ethical decisions.

Business ethics are principles guiding business decision-making, requiring navigation of 'gray areas'.
Ethical breaches have led to financial institution collapse and penalties for corporate officers.
Stakeholders are increasingly sensitive to violations of standards, changes in business conditions and safety practices.

Ethical dilemmas involve situations with unclear right and wrong actions.
Example: A friend undercharging at a bar, posing questions about moral responsibility and potential fraud.
Supply chain sustainability: Meeting present needs without compromising future generations, considering labor, conservation, human rights, and community responsibility.

Public expects high ethical performance and social responsibility.
Ethical behavior prevents harm, protects business from abuse, and safeguards individuals within the business.
Ethics influences employee commitment, investor/customer loyalty, customer satisfaction, stakeholder relationships, and earnings.

Four key areas needing ethical consideration: HR, sales/marketing, production, and intellectual property.
Failure to apply ethics may result in moral disengagement, where individuals rationalize unethical actions.

(Refer to provided diagram for details, as specific factors are not listed in text)

CSR is when an organization acts ethically, taking responsibility for its impact on the environment, community, and employees.
Pursuing CSR goals can increase profits, gaining support from management and stakeholders.

Organizations pursue CSR goals for:

Implement ethics/compliance program and a strong ethical culture to reduce pressure on employees to misbehave; decrease misconduct.

A corporate ethics officer provides vision and leadership in business conduct, aligning practices with stated ethics; holding people accountable to ethical standards.

The board of directors manages the organization responsibly; sets ethical standards; ensures compliance with laws; creates an environment where employees can seek advice and report misconduct.

Code of ethics highlights key ethical issues, identifying values/principles for decision-making; including formal statements about purpose/values.
Provides mechanisms for reporting unethical conduct; ensures compliance; crucial for culture/decision-making; breaches must be addressed.

To gain goodwill, operate consistently, foster good practices, protect from legal action, and avoid negative publicity.

Growth of the internet, data storage capabilities, and increased reliance on IT have increased the risk of unethical IT use.

IT ethics studies ethical issues from electronic technologies, formulating answers about individual/public policy moral basis.
IT challenges concepts like property, privacy and moral responsibility.