...and the wrongness of any action are determined from its consequences and people who hold this view is known as consequentialist. Consequentialism is general approach to ethical dilemmas which inquire about the consequences to relevant people of making a particular decision. So basically consequentialism word itself suggests that it is an ethical approach which “depends on the consequences”. This view is also sometimes referred to as teleology (from the Greek word telos which means goal). Ethics is a branch of Philosophy that examines ethical concepts and issues. It inquiries into such things as goodness, right action, and moral responsibility. It answers the question, “What do I do?" It is the study of right and wrong in human endeavours. At a more fundamental level, it is the method by which we categorize our values and pursue them. Do we pursue our own happiness, or do we sacrifice ourselves to a greater cause? A proper foundation of ethics requires a standard of value to which all goals and actions can be compared to. Consequentialism, as its name suggests, is the view that normative properties depend only on consequences. This general approach can be applied at different levels to different normative properties of different kinds of things, but the most prominent example is consequentialism about the moral rightness of acts, which holds that whether an act is morally right depends only on the consequences of that act or of something related to that act, such as the motive...
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...Bangladesh. Submitted by Md.Mostafijur Rahman ID- 22055 Semester: Fall 2012 MBA(Evening) Program Department of Finance Dhaka University Bangladesh. Submission Date: 2 October 2012 Introduction Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong behavior. It comes from the Greek word “ethos”, which means "character". It is the study of morality. It is the value that is worth pursuing in life. Ethics is relative. It depends on several factors: world views, descriptive values and moral values. Business ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer. Many businesses have gained a bad reputation just by being in business. To some people, businesses are interested in making money, and that is the bottom line. It could be called capitalism in its purest form. Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that brings up the question of ethical behavior. Definition Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization’s culture sets standards for determining...
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...Webster's Collegiate Dictionary defines "ethics" as the "discipline dealing with what is good and bad and with moral duty and obligation," "a set of moral principles or value" or "a theory or system of moral values." Ethics assists individuals in deciding when an act is moral or immoral, right or wrong. Ethics can be grounded in natural law, religious tenets, parental and family influence, educational experiences, life experiences, and cultural and societal expectations. Ethics in business, or business ethics as it is often called, is the application of the discipline, principles, and theories of ethics to the organizational context. Business ethics have been defined as "principles and standards that guide behavior in the world of business." Business ethics is also a descriptive term for the field of academic study in which many scholars conduct research and in which undergraduate and graduate students are exposed to ethics theory and practice, usually through the case method of analysis. Ethical behavior in business is critical. When business firms are charged with infractions, and when employees of those firms come under legal investigation, there is a concern raised about moral behavior in business. Hence, the level of mutual trust, which is the foundation of our free-market economy, is threatened. Although ethics in business has been an issue for academics, practitioners, and governmental regulators for decades, some believe that unethical, immoral, and/or illegal behavior...
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...crew boss and work crew as he attempts to leave the world of abortion behind. While these sequences overlap in the plot of the movie, they are separate and distinct relationships for the necessity of analyzing their meanings. Throughout these plot lines, we constantly see a struggle between consequentialist and deontological arguments; What is the right choice versus...
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...Learning Team Reflection - The Demise of Arthur Anderson Team A: Alex Raye, Chai Gallahun, Frank Hagan, and Leonard Hollomon FIN 571 December 14, 2015 Dr. Robert Mayfield Learning Team Reflection - The Demise of Arthur Anderson Business ethics set a standard for businesses to conduct their affairs with internal and external stakeholders. Corporate ethics allows individuals to scrutinize and self-correct the ethical values and morals of a business. The purpose of this paper is to discuss the mistakes detailed in the Ethics case, “The Demise of Arthur Anderson” and identify the potential actions that leadership could have taken to prevent this organizational failure. The firm committed several errors that could have been prevented through adherence to established ethics and practices. A major accounting firm since 1918, it has become a sad ending for a once powerful corporation. During the 1980’s, changes in business required many organizations to branch out and diversify their business capabilities. Arthur Anderson was no exception to this having operated an accounting practice for some time, they branched out to grow their consulting practice. Many times, these services intertwined and created a conflict of interest that affected their decisions when auditing so not to upset the delicate balance while keeping their businesses growing. At times, the choices that were made where unethical and violated guidelines put in place to prevent accounting scandals. These practices...
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...biggest corporate collapse in the history of Australia. Also an investigation of Royal Commission was warranted by the HIH collapse. Two questions considered in the failures of HIH Insurance: Did the auditors implement their responsibilities and roles? Did the auditors fulfil their auditing work ethically? This report provides an analysis of auditing issues arising from the collapse of HIH Insurance. Among factors that have gave rise to the corporate failure of HIH Insurance, that of the ethics of auditing profession, roles of auditors and effectiveness of audit committee have regarded as particular significance. Contents Executive Summary 2 1. Introduction 4 2. Discussion 5 2.1 Audit Independence 5 2.2 Audit Committee 7 2.3 Ethical Considerations 8 3. Conclusion 10 Reference List 11 1. Introduction HIH Insurance was established when MW Payne Liability Agencies Pty Ltd was incorporated by Michael Payne and Ray Williams joining together to do business of insurance underwriter in Australia in 1968. Their operations were throughout the world, accompanied with businesses working in numerous countries such as the United Kingdom, New Zealand, Hong Kong, and the United States (Peursem, Zhou, Flood & Buttimore, 2007). There are many varieties of insurances in the markets of UK, the USA and Australia, involving compulsory insurance (for example, workers’...
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...2011 1) Identify in a couple of sentences the “ethical dilemma” (or ethical question) inherent in the Case selected. Pose an open-ended question that generates many possible answers, not just a question that can be simply answered with a “yes” or “no” response. The ethical dilemma in the Jake Baker case concerns our nation’s most fought for and prided amendment, the freedom of speech. The main issue we, a society, face in this case is the right to feel safe and when does that become violated? We should use our best judgment to distinguish when someone is exercising their first amendment right or if they are stepping over the boundaries into life-threatening remarks. The question we would like to pose is “When should we deem a statement life-threatening?” 2) Identify in a couple of sentences the specific information technology (I.T) components that create the special circumstances for the Case you have selected. Information technology has allowed us to share thoughts and ideas to anyone virtually anywhere as long as they have a computer or a PDA with internet connectivity. This plays a huge role in this case because Jake Baker has found someone whom has his same interest in unique sexual fantasies and is able to communicate with them through the internet. Jake uses three types of IT components which are e-mail, internet and USENET. He uses e-mail to send and receive messages to an internet user by the name of Arthur Gonda. He uses the internet as a medium for communication...
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...study of moral values and judgments as they apply to accountancy. It is an example of professional ethics. Accounting introduced by Luca Pacioli, and later expanded by government groups, professional organizations, and independent companies. Ethics are taught in accounting courses at higher education institutions as well as by companies training accountants and auditors. Due to the diverse range of accounting services and recent corporate collapses, attention has been drawn to ethical standards accepted within the accounting profession.[2] These collapses have resulted in a widespread disregard for the reputation of the accounting profession.[3] To combat the criticism and prevent fraudulent accounting, various accounting organizations and governments have developed regulations and remedies for improved ethics among the accounting profession. ------------------------------------------------- Importance of ethics The nature of the work carried out by accountants and auditors requires a high level of ethics. Shareholders, potential shareholders, and other users of the financial statements rely heavily on the yearly financial statements of a company as they can use this information to make an informed decision about investment.[4] They rely on the opinion of the accountants who prepared the statements, as well as the auditors that verified it, to present a true and fair view of the company.[5] Knowledge of ethics can help accountants and auditors to overcome ethical dilemmas, allowing...
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...Business Ethics and Corporate Strategy Ethical Issue Paper Travis G. Stoufer Business Ethics-BUS 323 Janet Evelyn-Dorsey January 29, 2010 Abstract A paper presented on the growing issues of business ethics and the decisions consumers and producers make when moral and ethical responsibilities are in question. Paper presents tools for consideration for tomorrow’s leaders and gives a general overview of strategies corporations take to limit legal responsibility in ethical matters that include; hiring of undocumented workers, strategies such as breach and pay, document retention, and rewriting policy on employees instead of treating them with dignity and respect. The paper discusses the viewpoint of ethical responsibilities with primary stakeholders in mind. The primary stakeholders for consideration in this paper would be employees, consumers, managers, and CEO’s. This paper argues corporate strategies such as breach and pay, document retention, and hiring of undocumented workers is unethical. Corporate strategies of this sort are unethical and consumers should align the purchases of goods and services with companies that participate in corporate social responsibility. BUSINESS ETHICS AND CORPORATE STRATEGY Table of Contents Abstract……………………………………………………………………………………ii Table of Contents…………………………………………………………………………iii Introduction…………………………………..…...……………………………………….1 Background……………….…………………...………………………………………...1-2 Analysis..……………………………..……..…………………………………………...
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...Arthur A. Thompson, Jr. University of Alabama 1. J. mmmm m University of Alabama University of South Alabama Crafting and Executing Strategy The Quest for Competitive Advantage Concepts and Cases 17TH EDITION McGraw-Hill Irwin Boston Burr Ridge, IL Dubuque, IA New York San Francisco St. Louis Bangkok Bogota Caracas Kuala Lumpur Lisbon London Madrid Mexico City Milan Montreal New Delhi Santiago Seoul Singapore Sydney Taipei Toronto Irfbfl ®(f Part O n e Concepts and Techniques for Crafting and Executing Strategy 3 Section A: Introduction and Overview 1. What Is Strategy and Why Is It Important? 4 What Do We Mean by Strategy? 6 Strategy and the Quest for Competitive Advantage 7 Identifying a Company s Strategy 10 Why a Company's Strategy Evolves over Time 11 A Company s Strategy Is Partly Proactive and Partly Reactive 11 Strategy and Ethics: Passing the Test of Moral Scrutiny What Makes a Strategy a Winner? 15 13 14 The Relationship between a Company's Strategy and Its Business Model Why Are Crafting and Executing Strategy Important? 17 17 Good Strategy + Good Strategy Execution = Good Management Illustration Capsules 1.1. Starbucks' Strategy in the Specialty Coffee Industry 8 1.2. Microsoft and Red Hat: Two Contrasting Business Models 16 2. Leading the Process of Crafting and Executing Strategy 22 What Does the Strategy-Making, Strategy-Executing Process Entail? Phase 1: Developing a Strategic Vision 24 28 How a Strategic...
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...Identify the four main sources of business ethics, and describe four rules that can be used to help companies and their employees behave ethically. 4. Describe some methods companies can use to strengthen their ethical rules and positions. 5. Appreciate the important ways in which a nation’s business laws and regulations affect business commerce, occupations, and organizations. WHY IS THIS IMPORTANT ? A friend who is an A-student has offered to write your paper, which is worth 25% of your grade, for $50. You need the course to graduate because you only have a low C average. You hate writing, do it very poorly, and know others have had good results submitting this student’s papers as their own. Will you pay the money and submit the paper or submit your own paper and pray for a good result? This chapter will help you learn how to act ethically when facing dilemmas in your business and personal life. This is important because the decisions you make will affect your own future and those of stakeholders of the organizations that employ you. jon24565_ch05.qxd 11/2/05 1:22 PM Page 139 A Question of Business How Different Ethical Stances Can Help or Harm a Company How can companies ensure their managers and employees follow their ethical codes of conduct? In 1982, managers at Johnson & Johnson problems. Nevertheless, a few months later, (J&J), the well-known medical products com- DC’s...
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...Ethical Leadership •What are the components of a comprehensive framework for ethical decision making in business? Ethical Issue Intensity Business Ethics Ethical or Individual Factors Evaluations and Unethical Organizational factors Intentions Behavior Opportunity Ethical-Issue Intensity The first step in ethical decision making is to recognize that an ethical issue requires an individual or work group to choose among several actions that various stakeholders inside or outside the firm will ultimately evaluate as right or wrong. The intensity of an ethical issue relates to its perceived importance to the decision maker. Ethical issue intensity, then, can be defined as the relevance or importance of an ethical issue in the eyes of the individual, work group, and/or organization. It is personal and temporal in character to accommodate values, beliefs, needs, perceptions, the special characteristics of the situation, and the personal pressures prevailing at a particular place and time. Senior employees and those with administrative authority contribute significantly to intensity because they typically dictate an organization’s stance on ethical issues. In fact, under current law, managers can be held liable for the unethical and illegal Moral intensity relates to a person’s perception...
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...Identify the four main sources of business ethics, and describe four rules that can be used to help companies and their employees behave ethically. 4. Describe some methods companies can use to strengthen their ethical rules and positions. 5. Appreciate the important ways in which a nation’s business laws and regulations affect business commerce, occupations, and organizations. WHY IS THIS IMPORTANT ? A friend who is an A-student has offered to write your paper, which is worth 25% of your grade, for $50. You need the course to graduate because you only have a low C average. You hate writing, do it very poorly, and know others have had good results submitting this student’s papers as their own. Will you pay the money and submit the paper or submit your own paper and pray for a good result? This chapter will help you learn how to act ethically when facing dilemmas in your business and personal life. This is important because the decisions you make will affect your own future and those of stakeholders of the organizations that employ you. jon24565_ch05.qxd 11/2/05 1:22 PM Page 139 A Question of Business How Different Ethical Stances Can Help or Harm a Company How can companies ensure their managers and employees follow their ethical codes of conduct? In 1982, managers at Johnson & Johnson problems. Nevertheless, a few months later, (J&J), the well-known medical products com- DC’s...
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...1007/s10551-011-0910-1 A Model for Ethical Decision Making in Business: Reasoning, Intuition, and Rational Moral Principles Jaana Woiceshyn Received: 11 February 2011 / Accepted: 16 May 2011 / Published online: 28 May 2011 Ó Springer Science+Business Media B.V. 2011 Abstract How do business leaders make ethical decisions? Given the significant and wide-spread impact of business people’s decisions on multiple constituents (e.g., customers, employees, shareholders, competitors, and suppliers), how they make decisions matters. Unethical decisions harm the decision makers themselves as well as others, whereas ethical decisions have the opposite effect. Based on data from a study on strategic decision making by 16 effective chief executive officers (and three not-soeffective ones as contrast), I propose a model for ethical decision making in business in which reasoning (conscious processing) and intuition (subconscious processing) interact through forming, recalling, and applying moral principles necessary for long-term success in business. Following the CEOs in the study, I employ a relatively new theory, rational egoism, as the substantive content of the model and argue it to be consistent with the requirements of longterm business success. Besides explaining the processes of forming and applying principles (integration by essentials and spiraling), I briefly describe rational egoism and illustrate the model with a contemporary moral dilemma of downsizing. I conclude with implications...
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...groups affected by a company’s actions. 3. Identify the four main sources of business ethics, and describe four rules that can be used to help companies and their employees behave ethically. 4. Describe some methods companies can use to strengthen their ethical rules and positions. 5. Appreciate the important ways in which a nation’s business laws and regulations affect business commerce, occupations, and organizations. WHY IS THIS IMPORTANT ? A friend who is an A-student has offered to write your paper, which is worth 25% of your grade, for $50. You need the course to graduate because you only have a low C average. You hate writing, do it very poorly, and know others have had good results submitting this student’s papers as their own. Will you pay the money and submit the paper or submit your own paper and pray for a good result? This chapter will help you learn how to act ethically when facing dilemmas in your business and personal life. This is important because the decisions you make will affect your own future and those of stakeholders of the organizations that employ you. A Question of Business How Different Ethical Stances Can Help or Harm a Company How can companies ensure their managers and employees follow their ethical codes of conduct? In 1982, managers at Johnson & Johnson (J&J), the well-known medical products company experienced a crisis. Seven people in the Chicago area had died after taking Tylenol capsules that had been laced with cyanide. J&J’s top managers...
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