...The Effectiveness of Business Ethics in Education and Today’s Workplace October 13th, 2012 Introduction What do Bernard Madoff, Kenneth Lay and Rob Blagojevich all have in common? They all operated with no apparent ethical behavior even though each had received educational backgrounds in which ethical business practices were taught. As L. Zingales states, “While every firm can have its bad apples, when these apples are at the top, it suggests that a company has either a corrupt culture or a defective selection process, or both.” (Zingales, Jul 16, 2012). In Madoffs case, the Ponzi scheme had been going on since the early 1990’s (Morrissey, Aug 11, 2009). Under the direction of Kenneth Lay, Enron- once one of the largest companies in America- collapsed in bankruptcy and ruined the lives of thousands of people (McLean & Elkind, May 18, 2006). The Chicago Tribune reported that the Illinois House of Representatives was sending to the Illinois Senate a “13 point article of impeachment-a political form of indictment-alleging Blagojevich has abused the power if his office” (Pearson & Long, Jan 9, 2009). The purpose of this paper is to gauge the Effectiveness of Business Ethics in Education and Today’s Workplace. As business students they graduate from the university setting and enter the business environment they study the ethics in their workplace culture and often find that educational ethics training does not have any value in the work world. “Studies...
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...Ethics and ethical theories: a road map for teaching ethics in business schools Joan Fontrodona (IESE Business School, Spain), Manuel Guillén (University of Valencia, Spain), and Alfredo Rodríguez-Sedano (University of Navarre, Spain) Introduction A three-dimensional framework to explain ethical theories Ethical approaches of business firms Teaching ethics experiences using this framework Discussion of the teaching experiences Conclusions References 1 2 6 9 10 12 13 Introduction This paper tries to contribute, in some way, to the urgent need recently warned by Benedict XVI: “the university, for its part, must never lose sight of its particular calling to be a "universitas" in which the various disciplines, each in its own way, are seen as part of a greater unum. How urgent is the need to rediscover the unity of knowledge and to counter the tendency to fragmentation and lack of communicability that is all too often the case in our schools!”1 This seems to be a challenge for both, Catholic and non-Catholic universities. The purpose of this paper is to present a theoretical framework that helps to conceptualize ethics and to clarify the characteristics and limits of the different ethical theories. In other words, students without philosophical background will find here a synthetic “road map” of ethical approaches. This framework has been previously published in a book in Spain2. In this paper, authors will describe the model and discuss how it has been successfully tested...
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...IMPORTANCE OF BUSINESS ETHICS published: Sunday | April 11, 2004 [pic] [pic] FITZ-RITSON and LOPEZ Ayanna Kirton, Staff Reporter IN RECENT years the term 'business ethics' has taken on new relevance in the wake of accounting scandals that have discredited some of the world's largest and well-respected companies. The list includes WorldCom (now MCI), Tyco International, Parmalat, and Enron whose financial executives have faced charges and possible jail time for financial misdeeds. Now, the Business Roundtable (BRT) aims to restore public confidence in Corporate America with a US$3 million initiative to educate future CEOs on business ethics. According to an article published by Business Week, on January 14, 2004, the BRT, an association of 150 chief executive officers of leading United States companies, announced it was creating a new business-ethics centre. The Business Roundtable Institute for Corporate Ethics will be housed at the University of Virginia's Darden Graduate School of Business Administration. The BRT hopes to deflect criticism of CEO excesses by developing a business school ethics curriculum as well as train executives and conduct research. Ethics education and training are important elements in the creation of ethically sensitive business cultures. In a presentation on Jamaican Business Ethics, Dr. Michael Witter, senior lecturer and head of the Department of Economics at the University of the West Indies (UWI), said to understand business ethics, a clearer...
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...2/20/2010 Satyam shows B-schools too need a co… Enter Keyword S ATU RD A Y , F EB RU A RY 2 0 , 2 0 1 0 1 :1 6 P M IST LOUNGE HOME | e-paper | TODA Y'S NEWSPA PER | mint CODE Travel Books Culture Style Play Slideshows Insider Parenting P os ted: M on, J an 1 2 2 0 0 9 . 2 :1 9 A M I ST Corporate News E mail del.ic io.us digg news V ine P rint Satyam shows B-schools too need a code of ethics Most of the people primarily involved in the Satyam scam have a connection with reputed business schools Business Case | Premchand Palety font s ize Livemint Home ADVERTISEMENT The Satyam Computer Services Ltd scandal has show n w hat bad corporate governance can lead to. It w ill take some time before the story of the fraud unfolds fully but as of now, it seems to be much more serious than just the w indow dressing of the balance sheet. Probably Satyam created its contradiction in the true sense w ith Maytas Properties Ltd and Blogs Videos Radio Special Report Mint Reports Webcast Archive Partners Wall Street Journal Tools Mint Mobile RSS Feeds RSS Story mint e-paper Email Alerts Festival Contest Daily Newsletter Follow us on Twitter Follow us on Facebook ADVERTISEMENT Maytas Infra Ltd, and money w as siphoned off from the computer software services firm to buy real estate and bribe politicians that eventually led to its fall. In the process, shareholders’ w ealth and confidence have been devastated. The management has put the careers of its...
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...1 BUSINESS ETHICS WAYNE EASTMAN RUTGERS BUSINESS SCHOOL Wayne Eastman (weastman@business.rutgers.edu 1 2 SYLLABUS Text: Managing Business Ethics, Fifth Edition (2011), Linda Trevino and Katharine Nelson. John Wiley & Sons, ISBN 978-0-470-34394-4 (paperback). Handouts: 1) Ethical Teachings and the Logic of Human Nature 2) American Groups Other readings: Links on syllabus and on Blackboard. Course objectives A major priority of the course is to equip you to make thoughtful and effective arguments as to how to deal with business issues as to which there is no obvious, clear answer, and in which ethical concerns are present. Other key objectives include familiarizing you with major ethical teachings and with the relationship of ethics to science. Bases for evaluation Over the course of the semester, you will be expected to do four papers with a recommended length of 5 pages each in at least three of the four formats described below. These four papers will each count for 15% of your grade. You must submit all your papers by Week 14. I suggest submitting papers in weeks 5, 8, 11, and 14; do not submit before that. There will be a midterm exam and a final exam consisting of objective closed-book questions and an essay; the midterm and final will each count 15% of your course grade. You will also be expected to participate in discussions and to make at least one presentation...
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...A HISTORY OF BUSINESS ETHICS The history of “business ethics” depends on how one defines it. Although the term is used in several senses and varies somewhat for different countries, its current use originated in the United States and became widespread in the 1970s. The history of business ethics in the United States can be viewed as the intersection of three intertwined strands. Each of these in turn can be divided into at least two related branches. The first strand, which I shall call the ethics-in-business strand, is the long tradition of applying ethical norms to business, just as it has been applied to other areas of social and personal life. This strand can be divided further into the secular and the religious branches. The second strand is the development of an academic field, which has been called business ethics. It also has two main branches, one being the philosophical business-ethics branch, which is normative and critical, and the other the social-scientific branch, which is primarily descriptive and empirical. The third strand is the adoption of ethics or at least the trappings of ethics in businesses. This again subdivides into the integration of ethics into business and business practices on the one hand and the commitment to corporate social responsibility on the other. Business ethics was introduced into Europe and Japan in the 1980s although the term did not translate easily, and the development in each country varied from that in the United States because...
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...Contents 1. The Development Of A Code Of Ethics: An Online Classroom Approach To Making Connections Between Ethical Foundations And The Challenges Presented By Information Technology.............................................. 14 May 2012 1 ProQuest Document 1 of 1 The Development Of A Code Of Ethics: An Online Classroom Approach To Making Connections Between Ethical Foundations And The Challenges Presented By Information Technology .. Author: Brooks, Rochelle. .. Publication info: American Journal of Business Education 3. 10 (Oct 2010): 1-13. .. ProQuest document link .. Abstract: In today's organizations, ethical challenges relate to areas like fraud, right to privacy for consumers, social responsibility, and trade restrictions. For Information Technology (IT) specifically, these can translate to considerations on how technology is used to violate people's privacy, how automation leads to job reductions, or how management information and its corresponding systems are used and abused for personal gain. In the last 25 years, people have seen an overwhelming technology infusion affecting business, education, and society. Virtually all areas of the society have been transformed by the usage of technology. The change is important from an ethical perspective in terms of who Information Technology (IT) workers are today and what their tasks are. Higher education, specifically in business schools, needs to take some responsibility in preparing...
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...Organization Course Code: F-505 A S S I G N M E N T O N Business Ethics Submitted to Dr. A. H. M Habibur Rahman Course Teacher Managing Organization Department of Finance Dhaka University 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...
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...[pic] |A History of Business Ethics | |By Richard T. De George | |The term 'business ethics' is used in a lot of different ways, and the history of business ethics will vary depending on | |how one conceives of the object under discussion. The history will also vary somewhat on the historian—how he or she sees | |the subject, what facts he or she seeks to discover or has at hand, and the relative importance the historian gives to | |those facts. Hence the story I'm going to tell will be somewhat different from the story someone else might tell in various| |particulars, and I hope that instead of being a dull recitation of facts it might in fact prompt some discussion at the end| |by those who would tell a somewhat different story. | |The story I will tell has three strands, because I believe the term business ethics is used in at least three different, | |although related, senses. Which sense one chooses therefore gives priority to nature of the history of the topic. The | |primary sense of the term refers to recent developments and to the period, since roughly the early 1970s, when the term | |'business ethics' came into common use in the United States. Its origin in this sense is found...
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...TOPIC: identify a situation that may be objectionable on ethical grounds in an organizational perspective Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Business ethics has both normative and descriptive dimensions. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range and quantity of business ethical issues reflects the interaction of profit-maximizing behavior with non-economic concerns. Interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia. For example, today most major corporations promote their commitment to non-economic values under headings such as ethics codes and social responsibility charters. Adam Smith said, "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." Governments use laws and regulations to point business behavior in what they perceive to be beneficial directions. Ethics implicitly regulates areas and details of behavior that lie beyond governmental control. The emergence...
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...Indiana University Kelley School of Business Indianapolis BUS A375 18265 Internal Auditing: Process Controls BUPA A575 18579 Internal Auditing and Corporate Governance Fall 2011 Meetings: 6:00- 8:40 W, August 24 – December 14, 2011, Room BS2007 Required Textbook: Internal Auditing: Assurance and Consulting Services 2nd Edition, Reding et al., © 2009, The IIA Research Foundation, ISBN-13: 978-0-89413-643-6. Optional Materials: Gleim CIA Review Manual, 14th edition, Part I and Part II. The CIA materials are available in the third floor computing lab. Instructor: James Reinhard, MS, CPA, CIA, CISA Adjunct Faculty Office: BS4032R Voice: (317) 753-9663 E-mail: jareinha@iupui.edu Office Hours: 5-5:45 the day of class, and by appointment COURSE OUTCOMES Overall Learning Outcome The overall learning Outcome is to obtain a fundamental knowledge and a sense of skills related to internal auditing. Specific Learning Outcomes After completion of this course, the student should achieve the following outcomes: * Given a business process, students will be able to perform the 3 steps of an audit process (planning, fieldwork and reporting) by applying the International Professional Practice Framework (IPPF), the International Standards for the Professional Practice of Internal Auditing (Standards) and guidance to the practice of internal auditing, and COSO framework. (PUL 1, 2 ;PBL 1, 3; MSA Goal 3, 4) * Students will...
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...The Moral Compass nd understand moral theory. In fact, you have a moral philosophy – but you may not think of it that way. Every time you have a conversation about what someone “should” or “ought” to do, you doing moral philosophy. Your moral converations may be very personal – whether you should return the five dollars extra change the clerk gave you at the video store – or very broad – whether national security is more important than personal freedom. Whatever your moral conversations are about, it is likely there is a body of literature that would be useful in clarifying your thoughts on the issue. It may be a good idea for you to read a basic textbook on moral philosophy to review or familiarize yourself with the way philosophers have thought about some of the moral issues that almost everyone encounters. It is especially useful to be familiar with the terms and concepts of moral philosophy so you can express your views precisely and intelligently. Some of the major moral theories are briefly summarized in the Primer of Moral Theory that follows. You will find most of them are discussed in more detail in any basic moral philosophy text, although you may find them listed under slightly different titles. As you consider each theory, use the “Where Do I Stand” box to mark your position on it. Include a brief explanation of the reasons for your position. The purpose of this exercise is for you to decide for yourself what moral theories and standpoints make the most sense to...
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...a. What are the major arguments made in the first paper? The major arguments made by Professor Sandra Waddock is that business professions are mainly concerned with temporary financial performances and the growth of earnings at the expense of people, society, and natures resources. Thus, she recommends transforming business education curriculum to increase future business leader’s society responsibility, trust, and integrity. Accordingly, the five critical elements she suggest to significantly change business education are a sense of balance, integration of body, mind, and heart, holistic understanding, respect for diversity, and a grasp of complex change. Do you agree with them? In my opinion, she is very accurate about most company’s culture being about maximizing profits at all cost. For example, the chocolate maker Nestle maximized profits to shareholders by exploiting child slave labor in West African cocoa farms. According to Collingsworth, “Nestle crossed a very bright line and proceeded in bad faith. It’s clear the only way they are going to change is if they get smacked”. In the end, the Nestle leaders of the firm should have followed the curriculum set by Professor Sandra Waddock’s. Thereby, allowing them to acknowledge that taking advantage of cheap labor wages in another country is very unethical. They should have concurred that the ethical action was to provide a living paying wage to the workers producing the chocolate. As a result, the firm would generate a...
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...will set up a routine that can be used beyond my college career. What is done now affects the outcome of the experience and personal responsibility is accepting the results of those actions. These concepts do not only apply to college but will be valuable in the workplace. Strategies Often times, people begin college thinking it will be like high school. In some ways they are right, but college takes much more personal responsibility, especially when taking classes online. There is not a teacher constantly reminding you of the tasks you must complete, or to encourage you to get things done. It is the student’s obligation to stay involved in the class, and get their school work accomplished. Some strategies to stay on track may seem simple, but can be very beneficial. The first strategy is setting clear and definite goals before starting the course. Writing down expectations will allow the student to look at them at a later date and remind themselves why they taking the class if ever feeling discouraged. Another strategy that is useful is using a calendar. Having the day planned out for when specifically to sit down and work on school, having family time, or seeing when an appointment is scheduled will help plan the day. It...
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...issues is the key to understanding business ethics. An ethical issue is an particular problem, situation, or opportunity that requires a person or organization to choose from among several actions that may be evaluated as right or wrong, ethical or unethical (Ferrell). The best way to evaluate the ethics of a decision is to look at it from different viewpoints. Although many business issues seem straightforward and easy to resolve, often times a person needs several years of business experience to understand what is acceptable or ethical. Deciding if an activity is considered ethical depends on the culture the business operates (Ferrell). Fairness and honesty are amongst the biggest issues in business related ethics. It can become a very difficult problem that can and will affect the business. We know that ethics concerns moral issues, so making a decision that will have negative impact on the company is going to be tough for the person. An individual can make either a right or wrong decision, depending on how it will affect their life and workplace. In turn, the business will react accordingly to its moral guidelines and principles provided that the executives do not lose sight of the essential value of fairness. Everyone will have their own concept of right and wrong, so coming up with one definition of business ethics can be difficult. Moral standards are created by home environment, religious beliefs and traditions therefore making ethics hard to define, but not impossible...
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