Mgt 216

Week One Student Guide

This week addresses fundamental questions about ethics and moral issues, and provides a basic framework for the subsequent weeks of the course. You may begin this course with an expectation that you already know ethics. Consider if you have taken the time to define what ethics means to you, what the difference is between an ethical and a moral issue, and what ethics mean in a business setting. You can clearly and effectively identify common ethical problems in business once you have a clear understanding of the difference between ethics and morality, and personal versus business ethics.

Fundamentals of Business Ethics

OBJECTIVE: Differentiate between ethical and moral issues.

Resources: Ch. 2 & 5 of Managing business ethics.

Content

• Ch. 2 Why be ethical? of Managing business ethics

o Why be ethical? Why bother? Who cares?

As workers, people should care about ethics because most of us prefer to work for ethical organizations. We want to feel good about ourselves and the work we do. As managers, we must be concerned about the ethics of the people who report to us. More than just our jobs depend on this concern—recent legislation has made managers liable for the criminal activities of their subordinates. Organizations must care about

ethics because workers depend on them to help define the boundaries of acceptable and unacceptable behavior. Also, ethical lapses can cost an organization dearly in shattered customer confidence, increased government regulation, and huge fines. We as individuals must care about ethics.

o The motivation to be ethical

o The media focus on ethics and corporate reputation

o Industries care about ethics

o Executive leaders care about ethics

o Managers care about ethics

o Employees care about ethics

o Individuals care about ethics

o Does society care? Business and social responsibility

o Government regulation of business

o Is socially...