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    Ethical Considerations

    Uploaded by

    Jonathan Lam
    This document introduces the concept of ethics in business. It explains that ethics are moral principles that guide beneficial interactions between parties. Upholding ethics is important for businesses because it builds trust with customers and society. Behaving ethically involves treating employees and customers well, being honest in record keeping and communications, and continually improving practices over time. Businesses establish ethical cultures through codes of conduct, mission statements, and surrounding themselves with ethical people.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Ethical Considerations

    Uploaded by

    Jonathan Lam
    1 views11 pages
    This document introduces the concept of ethics in business. It explains that ethics are moral principles that guide beneficial interactions between parties. Upholding ethics is important for businesses because it builds trust with customers and society. Behaving ethically involves treating employees and customers well, being honest in record keeping and communications, and continually improving practices over time. Businesses establish ethical cultures through codes of conduct, mission statements, and surrounding themselves with ethical people.

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    This document introduces the concept of ethics in business. It explains that ethics are moral principles that guide beneficial interactions between parties. Upholding ethics is important for businesses because it builds trust with customers and society. Behaving ethically involves treating employees and customers well, being honest in record keeping and communications, and continually improving practices over time. Businesses establish ethical cultures through codes of conduct, mission statements, and surrounding themselves with ethical people.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1 views11 pages

    Ethical Considerations

    Uploaded by

    Jonathan Lam
    This document introduces the concept of ethics in business. It explains that ethics are moral principles that guide beneficial interactions between parties. Upholding ethics is important for businesses because it builds trust with customers and society. Behaving ethically involves treating employees and customers well, being honest in record keeping and communications, and continually improving practices over time. Businesses establish ethical cultures through codes of conduct, mission statements, and surrounding themselves with ethical people.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    Ethical Consideration in

    Business
    Learning Intentions and Success Criteria

     Your LI today is to be introduced to the concept of ethics


    in business. You will learn why ethics are important to
    business success and what good ethical behaviour looks
    like.
     Your SC today is to be able to explain the fundamentals of
    ethical considerations in business behaviour, and answer
    some questions analysing case studies of business
    behaviour.
    What are ethics?

     Ethics are the system of values we use to govern our


    interactions with one another in such a way that these
    interactions are beneficial to all parties.
     We use these “moral principles” to guide our behaviour
    depending on the situation.
     The use of ethics encourages behaviours that are helpful
    and discourages those that are not in our interactions.
    Why do ethics matter to businesses?

     Like people, businesses must make decisions about their behaviour –


    but what is business behaviour?
     The behaviour of businesses includes:
    • How the business treats its employees and customers
    • How the business attempts to make a profit
    • How the business records its actions
    • Who the business chooses to work for or have work for them
    • What the business tells others (government/general
    public/shareholders) about its activities
    Why do ethics matter to businesses?

     There are good reasons why businesses should follow


    ethical guidelines to their behaviour – it ensures a strong
    and positive relationship with their clients, government
    and the public. It improves the reputation of the business
    which can be enormously helpful, especially in businesses
    where trust is highly valued (such as finance, food
    production or safety).
     Businesses with a poor ethical record may face negative
    public opinion, more scrutiny from regulatory authorities
    and shareholder dissatisfaction.
    What are business ethics?

     At the most basic level, businesses need to be truthful


    and honest in their actions. Accounting practices are one
    of the ways we can try to ensure that this happens. What
    sorts of things do businesses need to be truthful and
    honest about?
    What does good ethical behaviour look
    like?
     Influential Apple CEO Steve Jobs was asked about how he promoted ethical
    behaviour at his company and he identified two ways he tries to achieve
    this:

     Paying attention to who you surround yourself with

     Trying to leave things better than you found them (continual improvement)

     By trying to do these two things, Jobs could promote a positive culture at


    Apple
    How businesses try to build an ethical
    culture
     Businesses may use a variety of strategies to ensure they
    have a strong culture. This begins with policies like Codes
    of Conduct or statements of values and principles.
     The Parade College
    Mission Statement –
    an example of using
    policy to guide
    culture
    The Super League – an unethical act?

     Watch the video and read the article you have been
    provided with here. Were the actions of the clubs involved
    in these events unethical or not?
    Work for you

     Complete the questions on Ethical Considerations in


    Business, which can be found on SIMON and on Teams.
    Remember that this work will be included as part of your
    completed work for the week uploaded on SIMON.

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