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Related Flashcards
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Cards In This Set
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Ethics
Business ethics
ethical strategy
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Refers to accepted principles of right or wrong that govern the conduct of a person, the members of a profession, or the actions of an organization
right and wrong of business people
Course of action that does not violate these accepted principles
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The Multinational and Business Ethics
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Treatment of employees (Human Right)
marketing of products to consumers (H Right)
Government and cultural expectations (Corruption, enviromental regulation)
Moral Obligation of multinatiional companies (Social responsibility)
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Human Rights
In developmed coutnries, basic human rights such as freedom of association, freedom of speech, freedom of assembly, and freedom of movement, are taken for granted, may not exist
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Corruption
US Foreign Corrupt Practices Act - outlawed the practice of paying bribes to foreign government officials in order to gain business
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Convention on Comabating Bribery of Foreign Public Officials
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International Business Transactions adopted by the OECD, makes bribery of foreign public officials a criminal offense
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Roots of Unethical Behavior
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Personal ethics, organization culture, unrealistic performance goals, leadership, decision-making processes
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Decision Making Process
Manager can use a five step process to think through ethical problems
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Step 1: Managers identify which stakeholders a deciosn would affect and in what ways
[Internal stakeholders / External stakeholders]
Step 2: Managers determine whetther a proposed decision would violate the fundamental rights of any stakeholders
Step 3: Managers establish moral intent (resolve this matter over all others)
Step 4: The company engages in ethical behavior
Step 5: The business auidits its decions, reviewing them to make sure that they were consistent with ethical principles
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