CHAPTER 36 Business Ethics and the Law

CHAPTER 36 Business Ethics and the Law

I. What is ethics?

Study of morality by exploring moral values

Does the ethical standard change depending on the situation?

Should it?

II. Law & Ethics

Is it enough just to ask whether something is legal or not?

Must also be ethical

III. The Moral Minimum- minimum needed to function- any violation is prima facie- obvi wrong

Honesty-dont lie

Loyalty-by creating a relationship, expectation of respect

-can harm person if do not meet ex

Fully disclose info relevant to dealings

Keep confidential info secret

Avoid conflict of interest

Act in the best interests of the other party

Keeping Commitments- dont break promises

Doing No Harm-torts

Is there a duty beyond this minimum? Should there be?

IV. A Higher Standard: The duty to do good

Meet Unmet Needs

Basic needs that others have

Supplement the Role of Government

Govt cant do everything, charity does a better job than govt

The Golden Rule

Treat others like you want to be treated

The Platinum Rule?

Treat others like they want to be treated

Avoid Harm by Omission

If you can see potential for harm, you have a duty to fix it (no bystanders)

Do people with special skills have more of a duty?

Yes- doctors, cpr

V. Moral Reasoning & Decision-making

I.D. the issues-define problems narrowly enough that you can analyze them and influence the outcome

Which rules apply?-moral minimum components, degrees of certainty or acceptance- some more generally accepted than others

Specific vs general

Nature, who owes what obligation

Analyze the facts/information-find relevant info, verify accuracy, infer

Apply-

Are there any conditions?

Genuine lack of knowledge or freedom to act

How do you minimize conflicts?

Look for solutions- work out agreements, remove source of conflict

Prioritizing

Evaluate the harm that may result from violation- degree and probability

V. Relativism v. Pluralism

Culture affects solutions to issues, degrees of importance

Some things are universally condemmed

Plurality of ideals. Finite number of values. Each person has their own set of values and pursuing them should be accepted