Ethics midterm slides review
Ethics = manner by which one tries to live one’s life according to standard of right/wrong
behavior
Development
Morality (for individual/group) > Moral standards (believed to be standard) > Ethics (study)
Business Ethics defined
• Business ethics – principles, values, and standards that guide behavior in business world
• Ethical decisions – accepted rules are no longer serve, must weight values and reach
judgement [values + judgements are critical]
• Principles – specific boundaries that are universal ex. Freedom of speech
• Values – develop socially enforced norms ex. Trust, accountability
Business model you = personal bus takes soft benefits/costs into account (satisfaction)
Organizational bus considers only monetary benefits/costs
help others > successful
Ethical principles
§ Utilitarian – greatest good for greatest number of people
§ Deontology – do like what others will do to you (golden rule), based on duty and
obligation (Dignity & duty)
§ Virtue – ideal commitment of living life
Unique human dignity = human should not be exploited or treated as means
Duty = no emotions, required to do by moral or legal obligation
Virtue = behavior showing high moral standards คุณธรรม
Ethical dilemmas
- Not dictated by law
- Each choice has benefits/costs to different people บางคนได้บางคนเสีย
- No absolute right
- Right in one principle, wrong in one principle
- Contradict to benefits for company/society
- Value conflicts ex. Abandoning personal value
To resolve analyze cons > analyze actions & ethical basis > evaluate, compare, decide
Ethics contribute to employee commitment, investor loyalty, customer satisfaction, profits
Business ethics
Corporations has 2 duties: comply with law, make as much money as possible
Stakeholder ethics – emphasizes corporations participating more in society
Stakeholder = someone who has share, decisions effect many people
Factors ensuring ethical conduct
- Corporate governance – demand for transparency, be answerable
- Code of ethics – internal document represents a guide
Organizational ethics
Organizational culture – value belief and norms that all employees share
Value chain – model of internal process (support and primary activities)
Challenges
R&D > product quality/safety/reliability is critical to customer > negative press coverage
Manufacturing > design specifications create supply problem
Marketing > misleading message, fragile sector (kids, elderly)
HR > center of code of ethics, deal with ethical issues ex. sexual harassment
Corporate Social responsibility (CSR)
- Meeting all legal obligations
- Maximize profit for shareholder
- Social benefits
Conscious capitalism = management with conscious, creating shared value
Customers as stakeholders
- Trust
- Innovation
- Fairness
- Customer focus
Employee as stakeholders
- Respect
- Human dignity
- Achievement
- Affiliation
Communities as stakeholders
Implies duty
- Engagement &
integration
- Obligation &
responsibility
Ethical innovation culture within organization
Strategic planning
1. Stakeholder & environmental analysis /Where are we ex. SWOT
2. Direction setting/Where we want to go ex. Vision/Goal
3. Develop strategy/How to get there: Corporate, Business, Competitive
4. Action, Implementation/What we have to change ex. Innovation, strategy map, 7s
7s Strategy Structure, System(policy), Shared values, Skills, Staff, Style
Corporate governance
– direct and control organization to achieve standard & long-term sustainability, fair and
transparency for stakeholders
Principle of CG
- Consistency
-
Responsibility
Accountability
-
Fairness
Transparency
Argument analysis A-R-E model – Assertion (Belief), Reasoning, Evidence
Leadership model – jointly set goal and process to achieve (clarify, support, rewards)
Styles
1. Path-goal clarifying มีเป้ าหมาย มีวธิ ท
ี าํ
2.
3.
มีความคาดหวัง มีรางวัล/ลงโทษ
Achievement oriented ชาเลนจ์
เชือA มันว่
A าทําได้
Work facilitation ช่วยสอน ให้คาํ ปรึกษา
ฟี ดแบค
4. Supportive สนใจความสุข เป็ นเพือA นกัน
5. Interaction facilitation
แบ่งปั นความคิดเห็น ทําเป็ นทีม
6. Group-oriented decision making
ขอคําแนะนําจากทุกคน
7. Representation & networking ร่วมกับ
คนอืนA ๆนอกทีม
Servant leadership model = leader focus on increased service to others (เน้นสนับสนุ น), balance
goals of both followers & organization
Ethics and technology
Communication technology in Selling, Marketing, Advertising
– gov regulations (banning misleading ads, no cigarette ads), bully, technology divides people
Taker’s value
Wealth, Power, Pleasure,
Winning
Giver’s value
Helpfulness, Responsibility,
Social justice, Compassion
Matcher’s value
Reciprocal justice (punish)
Workplace privacy
- Background checks
- Social networking websites
GDPR: General Data protection regulation (Conditions for consent)
Negotiate with angry people – don’t attack maintain respectful, admit when wrong,
counter argument with same logic