Embedded Files
Introduction
Introduction
Lesson Objective
Lesson Objective
Ethics are moral principles by which people conduct themselves personally, socially, and professionally. Business ethics are rules that guide the behavior of a business and its employees. Business ethics are generally based on moral principles. In business, good ethics is beneficial for long-term profitability and success.
Define ethics and business ethics.
Describe why ethical behavior is good for business.
List the steps for dealing with an ethical dilemma.
Slides/Resources
Slides/Resources
Student Activity
Student Activity
Code of Ethics and Ethics Sim
Code of Ethics and Ethics Sim
The Ethical Dilemmas of Self-Driving Cars
The Ethical Dilemmas of Self-Driving Cars
The Corporation
The Corporation
BACKGROUND:
Beyond obedience to the law, what responsibility do corporations have to act ethically or in the social interest? Part of the role of an ethical business is to maximize profits in order to increase revenue to shareholders. Thus, any money spent on corporate social responsibility (CSR) measures could be seen as wasteful or unrelated to business objectives.
CSR extends beyond the traditional view of charity and involves employee policies, a corporation's relationship to the community, and sustainable business models. For example, a business whose core operations pollute the environment or exploit workers would not be considered socially responsible. What's known as the Triple Bottom Line incorporates "people, planet, and profit" into the measurement of a company's success.
Some believe that companies should abide by a "stakeholder theory," in which they are responsive, not only to investors, but to governments, civil society, and the general public. Does social responsibility improve the bottom line? How can these interests be balanced?
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