fat report on business ethic

7/30/2019 Fat Report on Business Ethic

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Business Ethics Cuand Economic Stand

Prepared b


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Why should businesses accept a univ

standard?

A UNIVERSAL STANDARD per se means a benchmark or rule othat is accepted and followed by the members of a global and gcommunity

Answer: to SURVIVE and MAINTAIN interpersonal, inter-communitacross-cultural relationships


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Why should business accept a univ

standard?Issues that need a universal ethico-moral standard:

False advertising

Child Labor

Job Discrimination

Sexual Harassment

Issuance of Bouncing Checks

Misrepresentation

Rice Cartel

Technology Piracy

Corruption

Stock Market Manipulatio

Tax Cheating

Fraudulent Dealing


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Are bad practices the same as cult

values?

Guanxi

a popular culture in China Gift-giving that shows

respect to another person

Objective is to strengtheninterpersonal relationships

earned personal connection

Bribery

A common unethical a

Gift-giving with done without external evideas possible

Objective is to buy somother party which shobought or paid

bought personal con


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Are bad practices the same as cultural

Answer: Bad practices should not be mistaken as

values. Cultural values are open and transparent

not always accepted by other groups or commBad practices are often conducted under-the-tab

secret due to the objectives that lay behind them

Are bad practices the same as cult

values?


6/14

Business Ethics and Compl

Prepared b


7/14

What is the Bhopal industrial accid

On December 2, 1984 a

company in East Asia had a

deadly methyl isocyanate gasstored in a tank and was

furiously boiling that night

when some chemicalsentered the tank


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Emergency valves explodedand white toxic gas beganshooting out of some big pipes.

The towns Jaipraksh and Chola

where infected by the lethal

cloud causing spasms, burns,blindness, lesions, bronchial

blockage and death to the

citiznes.


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Over 2000 people weredead and 200,000 wereinjured. This happened in

a Union Carbide pesticideplant located in Bhopal,India.


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Answer: The Bhopal Industrial accideconsidered to be the worst industrial a

in human history.


11/14

For business to beethical it is NOT

ENOUGH to follow the

law. Why not?

Requirements for all industries

- Legal includes observance of the law- Ethical includes social and moral respons


12/14

Answer: There are laws which are fairly low in stwhen it comes to protecting the community. It i

of the company to provide for the weakness of sbecause it is its responsibility to the communitythe difference between business ethics and legacompliance.

For business to beethical it is NOT

ENOUGH to follow

the law. Why not?


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What is law?

Answer: Traditional definition: Law is the ordinancepromulgated by someone in authority for the commonnot a recommendation or suggestion. It is obligatory.

It is PERSUASIVE.

It is reasonable, supported with study,evaluation and logic. Thus,IGNORANCE OF THE LAW EXCUSESNO ONE.

It is COERCIVE.

It is imposed. One can gfined or imprisoned. It isbroadcasted, dissemina

and made known to eve


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The law is for the common good an

for the good of any individual or of

What is law?

fat report on business ethic

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