Attempt all questions in brief. If you belong to such an institution, please log in or find out more about how to order. 138 0 obj The main principles of business ethics are based in academia and on academic writings on proper business operations. Can Martin Bubers notion of love play a role in business? How can businesses do this? The first view uses universality to distinguish the moral from non-moral. 2 x 10 = 20 a. Ethics Theory and Business Practice By: Mick Fryer Publisher: SAGE Publications Ltd Publication year: 2015 Online pub date: February 05, 2019 Discipline: Business & Management Subject: Business Ethics (general), Organization Studies (general) DOI: https://dx. <>/Border[0 0 0]/Contents(scholar@valpo.edu)/Rect[350.833 72.3516 427.21 82.8984]/StructParent 8/Subtype/Link/Type/Annot>> Web(SEM-III) THEORY EXAMINATION 2020-UNIVERSAL HUMAN VALUES AND ETHICS Time: 3 Hours Total Marks: 70 Note: 1. So, universalist ethical principles may present difficulties when used in complex situations, but such principles can also save lives, protect the integrity of a nation, and stop meaningless destruction. 1999-2023, Rice University. Ethical relativism is really not a principle to be 130 0 obj c. Ethical principles are different from values in that the former are considered as rules that are more permanent, universal, and unchanging, whereas values are subjective, even personal, and can change with time. Alani_Parra. One entity (e.g., a person, a firm) does business with another when it exchanges a good or service for valuable consideration, i.e., a benefit such as money. then you must include on every physical page the following attribution: If you are redistributing all or part of this book in a digital format, The 10th edition reflects the current, multidisciplinary nature of the field by explicitly embracing a variety of perspectives on business ethics, including philosophy, management, and legal studies. A hallmark of any profession is the existence of ethical guidelines, often based on values like honesty, integrity, and objectivity. Let us look at how it is possible to align business with human rights in such a way that both profitability and responsibility are honored across the globe. If you need friends or relationships in the government bureaucracy in order to get your imports cleared or your license extended, then that means particularism. Robotics, Artificial Intelligence, and the Workplace of the Future, 32. Obvious limitations of relativism include following ones blind spots or self-interests that can interfere with facts and reality. At the individual level, then, principles and values offer a source of stability and self-control while also affecting job satisfaction and performance. In the context of business ethics, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 issued a broader _____ rule in order to address the weaknesses of the Sarbanes-Oxley Act. hb```b``c`a`bb@ !6 daA@@-6WO pg5,eP=ycF62P,ZSK[xtV`g? This is especially the case when facts are not available and there is no objective external jurisdiction of the state or federal government. That policy lasted until the 1990s, when several parties negotiated its demisewith the help of Nelson Mandela (www.history.com/topics/apartheid). At the individual level, when corruption takes place, it is a matter of conscience. From these systems has emerged a basic set of ethical norms for the business world. Get FREE shipping on Universality, Ethics and International Relations by Veronique Pin-Fat, from wordery.com. The Volkswagen emissions scandal also began in 2015, when the Environmental Protection Agency cited the German automaker for violating the Clean Air Act by cheating on emissions tests. Before turning to organizational and systems levels of ethics, we discuss classical ethical principles that are very relevant now and on which decisions can be and are made by individuals, organizations, and other stakeholders who choose principled, responsible ways of acting toward others.17. To get a sense of individual rights in the workplace, log on to one of the Best Companies to Work For annual lists (http://fortune.com/best-companies/). Creative Commons Attribution License Using one or more of these principles and ethical approaches intentionally can also help you examine choices and options before making a decision or solving an ethical dilemma. Should business ethics be grounded only on more concrete tenets? citation tool such as, Authors: David S. Bright, Anastasia H. Cortes. 2 The principles that we will cover are utilitarianism, universalism, rights/legal, justice, virtue, common good, and ethical relativism approaches. To get a sense of individual rights in the workplace, log on to one of the Best Companies to Work For annual lists (http://fortune.com/best-companies/). are licensed under a, Ethical Principles and Responsible Decision-Making, Major Characteristics of the Manager's Job, How the Brain Processes Information to Make Decisions: Reflective and Reactive Systems, Administrative and Bureaucratic Management, External and Internal Organizational Environments and Corporate Culture, The Internal Organization and External Environments, Organizing for Change in the 21st Century, Ethics, Corporate Responsibility, and Sustainability, Dimensions of Ethics: The Individual Level, Leadership: Ethics at the Organizational Level, Ethics, Corporate Culture, and Compliance, Emerging Trends in Ethics, CSR, and Compliance, Cultural Stereotyping and Social Institutions, Characteristics of Successful Entrepreneurs, Trends in Entrepreneurship and Small-Business Ownership, Strategic Analysis: Understanding a Firms Competitive Environment, Gaining Advantages by Understanding the Competitive Environment, A Firm's External Macro Environment: PESTEL, A Firm's Micro Environment: Porter's Five Forces, Competition, Strategy, and Competitive Advantage, The Strategic Management Process: Achieving and Sustaining Competitive Advantage, The Role of Strategic Analysis in Formulating a Strategy, Strategic Objectives and Levels of Strategy, Planning Firm Actions to Implement Strategies, Measuring and Evaluating Strategic Performance, An Introduction to Human Resource Management, Influencing Employee Performance and Motivation, Talent Development and Succession Planning, Benefits and Challenges of Workplace Diversity, Situational (Contingency) Approaches to Leadership, Substitutes for and Neutralizers of Leadership, Transformational, Visionary, and Charismatic Leadership, Opportunities and Challenges to Team Building, Factors Affecting Communications and the Roles of Managers, Managerial Communication and Corporate Reputation, The Major Channels of Management Communication Are Talking, Listening, Reading, and Writing, Formal Organizational Planning in Practice, Management by Objectives: A Planning and Control Technique, The Control- and Involvement-Oriented Approaches to Planning and Controlling, MTIIts Importance Now and In the Future, External Sources of Technology and Innovation, Internal Sources of Technology and Innovation, Management Entrepreneurship Skills for Technology and Innovation, Managing Now for Future Technology and Innovation, https://openstax.org/books/principles-management/pages/1-introduction, https://openstax.org/books/principles-management/pages/5-3-ethical-principles-and-responsible-decision-making, Creative Commons Attribution 4.0 International License. In the ideal case, the organizations culture never allows the latter, because scandals not only damage reputations but they make companies and countries much less attractive to investors. Other sets by this creator. Moreover, moral standards, according to this principle, vary from one culture to another. Business Except where otherwise noted, textbooks on this site We recommend using a (3) Who gets hurt? Exchange is fundamental to business. Access to the full content is only available to members of institutions that have purchased access. WebFor forty years, successive editions of Ethical Theory and Business have helped to define the field of business ethics. They prescribe obligations for everybody, define B. what ethical behaviors should be expected of company personnel in the course of doing their jobs. Scandals. By definition, ethics in a business setup are norms that a given business organization has to adhere to in its daily business transactions. WebBusiness ethics exists on three levels: the individual, the organizational, and the societal. FAQ Bias also rewards those who support and nurture the best elements of a culture, whether corporate, social, or political. WebKeywords: universalism, utilitarianism, punctuated equilibrium 1. This principle is grounded in both legal and moral rights. Followers of this principle can become absolutists and true believersmany times believing and following their own ideology and beliefs. Ethical business strategies Typically arise from managers with strong moral characters. Some of the principles presented here date back to Plato, Socrates, and even earlier to ancient religious groups. grramire. Basically, the possessor of good character is moral, acts morally, feels good, is happy, and flourishes. In fact, John Mackey, the founder of Whole Foods, has said that love has been the basis of his success in business, which translates into care and concern for customers beyond profit and for workers beyond productivity (Figure 5.8).39, Recall the statement by IBM quoted earlier in the chapter: [IBM] remain[s] dedicated to leading the world into a more prosperous and progressive future; to creating a world that is fairer, more diverse, more tolerant, more just.40. endobj The Supreme Court upheld her and her staffs decision. The same action may be morally right in one society but be morally wrong in another. The film The Post, based on fact, portrays how the daughter of the founder of the famed newspaper, the Washington Post, inherited the role of CEO and was forced to make a decision between publishing a whistle-blowers classified government documents of then top-level generals and officials or keep silent and protect the newspaper. Sexual Identification and Orientation, 31. Many organizations focus on the letter of the law so that they can claim good faith in their effort to create an ethical environment. > There are some limitations to this ethic. WebUniversalism: broadmindedness; wisdom; social justice; equality; a world at peace; a world of beauty; unity with nature; protecting the environment; inner harmony Benevolence: helpfulness; honesty; forgiveness; loyalty; responsibility; friendship Tradition: accepting one's portion in life; humility; devoutness; respect for tradition; moderation In addition, using this principle can require sacrifice of human lifethat is, giving ones life to help or save otherswhich may seem contrary to the principle. W. Wahdat-ul-Wujood - Wahdat-ul-Shuhud - War, philosophy of - Western philosophy - Wu wei. But employees are human beings first, which means any attempt to improve their welfare must begin by thinking of them as human beings rather than as employees. Abstaining from cheating customers, defrauding clients, lying, and murder are fairly objective ethical values; the reason for making any exceptions must be carefully laid out. endobj In addition, we are sometimes faced with the question, Who has the moral authority to punish to pay compensation to whom? Still, as with the other principles discussed here, justice stands as a necessary and invaluable building block of democracies and freedom. <>/Border[0 0 0]/Contents( \n h t t p s : / / s c h o l a r . SECTION A 1. Boeing leadership encourages employees to proactively seek out issues, speak up and report concerns, and engage with transparency. Web(SEM III) THEORY EXAMINATION 2021-UNIVERSAL HUMAN VALUES & PROFESSIONAL ETHICS. Countries and cultures that follow this orientation can result in dictatorships and absolutist regimes that practice different forms of slavery and abuse to large numbers of people. Following a review of normative research on corporate codes of ethics, a set of universal moral values is generated by considering three sources: (1) corporate codes of ethics; (2) global codes of ethics; and (3) the business ethics literature. Based on the convergence of the three sources of standards, six universal moral values for corporate codes of ethics are proposed including: (1) trustworthiness; (2) respect; (3) responsibility; (4) fairness; (5) caring; and (6) citizenship. This principle, as with universalism, can always be used when individuals, groups, and nations are involved in decisions that may violate or harm such rights as life, liberty, the pursuit of happiness, and free speech.
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