Ethical Considerations for Management - Business Ethics
6 important questions on Ethical Considerations for Management - Business Ethics
What are the learning objectives regarding 'Business Ethics'?
- recall the streams of business ethics
- recall the IMA Statement of Ethical Professional Practice
- recall the anti-bribery law FCPA
- recall the anti-bribery law UKBA
- Evaluate and apply the guidance for typical business situations.
- Identify the nature of the ethical issue and how to resolve it
- Understand the differences between illegal and unethical behaviour by an organization.
Which concepts are important (= should be recognized and understood), when analysing ethical behaviour?
- Ethics, = a philosophical examination and understanding of what is right and wrong, or good and bad
- Morality, = application of ethical principles
- Virtue, = characteristics of morality of an individual
What is the difference between 'morality' vs 'virtue'?
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What are the main streams of Moral Philosophy (Ethics) related to business ethics?
- Teleology
- Utilitarianism
- Deontology
- Virtue ethics
- Relativism
- Justice
Besides the different streams of Moral Philosophy (Ethics) business ethics includes certain concepts that can influence daily business. What are those concepts?
- Fairness
- Integrity
- Due diligence
- Fiduciary responsibility
In what ways could the business ethic's mainstream 'Justice' be used within society?
- Social justice
- Distributive justice
- Restorative justice
- Retributive justice
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