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  1. 1. Business Ethics The Basics
  2. 2. Ethics ... <ul><li>A set of Rules that help to tell us the difference between right and wrong and encourages us to do the right thing. </li></ul><ul><li>Help people decide best actions to take in a situation. </li></ul>
  3. 3. Ethical Behaviour- <ul><li>influenced by: </li></ul><ul><li>Individual beliefs </li></ul><ul><li>Social standards </li></ul><ul><li>Corporate Culture </li></ul><ul><li>Traditions and customs </li></ul><ul><li>laws </li></ul>
  4. 4. Based on…. <ul><li>Good character </li></ul><ul><li>Trustworthyness </li></ul><ul><li>Respect </li></ul><ul><li>Responsibility </li></ul><ul><li>Caring for others </li></ul><ul><li>Good citizenship </li></ul><ul><li>Moral rules </li></ul><ul><li>values </li></ul>Do what’s best for me… Do what’s right!!
  5. 5. Situation #1 <ul><li>Your Friend asks you to add a few extra hours to a work time sheet for him, but you know that he did not put in the time. </li></ul><ul><li>What would you do? </li></ul><ul><li>Who wins and who loses if you agree to put down the time? </li></ul><ul><li>How do you feel about it? </li></ul>
  6. 6. Situation #2 <ul><li>A salesperson in an electronics store offers to sell you an iPod after hours at a discounted price. </li></ul><ul><li>What would you do? </li></ul><ul><li>Who wins and who loses if you agree to buy it? </li></ul><ul><li>How do you feel about it? </li></ul>
  7. 7. Ethics in Business <ul><li>Business ethics are tied to both society’s ethics and the ethics of individuals. </li></ul><ul><li>Employees, customers, suppliers shareholders etc. </li></ul>
  8. 8. Business Situation #1 <ul><li>You work for a company that makes cyanide gas. You know this is harmful to people. </li></ul><ul><li>Is it unethical for you to make the gas, knowing it is used to poison people? </li></ul><ul><li>What about helping the company make a profit? </li></ul><ul><li>What if workers health is at risk? </li></ul><ul><li>Shouldn’t you follow employers instructions? </li></ul>
  9. 9. How can Businesses Solve Ethnical Dilemmas? <ul><li>Dilemmas- situation with difficult choice or 2 or more options </li></ul><ul><li>Positive and Negative points for every option. </li></ul>Key Questions: 1.Who will be helped by what you do? 2. Who will be hurt? 3.What are benefits and problems of each decision? 4. Will the decision survive the test of time?
  10. 10. A Code of Ethics <ul><li>Business create a document that explains how employees and management should respond in different situations. </li></ul>
  11. 11. Red Bull Case Caffeine drinks for kids <ul><li>http://watch. ctv .ca/news/clip95795#clip103556 </li></ul><ul><li>Energy drinks potentially harmful: study (Hamilton Spectator Sept 2008) </li></ul><ul><li>Health Canada </li></ul>
  12. 12. Ethical Questions for Red Bull Case <ul><li>What are the responsibilities of the Company? </li></ul><ul><li>Why are teens being targeted? </li></ul><ul><li>What should be on the labels? </li></ul><ul><li>Should these drink be banned from schools? </li></ul>More articles: Studies show link between caffeine drinks and violence
  13. 13. What happens when companies don’t behave ethically? <ul><li>FRAUD </li></ul><ul><ul><li>- crime of lying or pretending </li></ul></ul><ul><li>Accounting Scandals </li></ul><ul><ul><li>Publicly exposed crime- account records altered. Bre-X </li></ul></ul><ul><ul><li>Embezzlement-company money redirected for personal gain </li></ul></ul><ul><ul><li>Insider trading- misuse of confidential information. </li></ul></ul>
  14. 14. <ul><li>Information in this presentation is adapted from Nelson 5 th edition </li></ul><ul><li>The World of Business –Chapter 3 </li></ul><ul><li>Oct 2008 </li></ul>