About This Chapter
Theories & Standards of Business Ethics - Chapter Summary
In this chapter, instructors examine the meaning of ethics, guiding ethical principles and the value of ethics in the workplace. Employees will learn about the following lesson topics:
- Business ethics in an organization
- Compliance-based and integrity-based codes of ethics
- Legal rights and natural laws
- Pinpointing ethical standards
- Sources of ethical approaches and theories
Using a conversational approach, compelling examples and engaging visuals, instructors take these complex concepts and break them into easy to digest components to simplify the learning process. Each lesson lasts about five minutes and can be watched in the office or on-the-go on a laptop or mobile device. Quizzes and a chapter exam offer a convenient way to assess how well your employees grasped the key concepts of business ethics presented in these lessons.
How It Helps
- Teaches the fundamentals of business ethics: Employees will gain a basic understanding of ethical theories and standards and see examples of their real world application.
- Familiarizes employees with the purpose of codes of ethics: By watching these lessons, employees will understand that codes of ethics reflect a company's values and sense of responsibility.
- Encourages ethical behavior: This chapter offers employees insight into the meaning of ethics and its function in the workplace to encourage them to tell the difference between right and wrong.
By the end of this chapter, employees will be able to:
- Describe the meaning of business ethics
- Explain the steps to creating a code of ethics
- Identify sources of business ethical standards
- Understand the relevance of ethical theories and standards to their everyday business decisions
1. Business Ethics in Contemporary Businesses
The concept of ethics is easy to give examples of but hard to define. In this lesson, we will discuss ethics and how they apply in the business world, as well as discuss an example of an ethical situation using Enron.
2. Code of Ethics: Compliance-based and Integrity-based
A business may develop a code of ethics for different reasons. In this lesson, you'll learn what a code of ethics is and the difference between a compliance-based code of ethics and an integrity-based code of ethics.
3. Theories of Ethics: Rights & Natural Laws
Legal rights are those rights provided to citizens through the Constitution and other articles of the US legal system. Natural rights are rooted in the ethical, based on what is right or wrong. Learn more about ethics in this lesson.
4. Identifying Ethical Standards
In this lesson, you will learn the definition of ethics and also explore what ethics is not. Further, you will investigate why it is so difficult to identify the ethical standards we should follow and concepts that may help.
5. Sources of Ethical Standards in Business
In this lesson, we'll examine how philosophers and ethicists have helped us develop ethical standards, and we'll also discuss some of the critical questions on which ethics are based.
6. Practical Application: Identifying Sources of Ethical Standards in Business
Ethics can be defined as doing the right thing and there are a number of ethical models that allow individuals to take a systematic approach to ethical behavior. This scenario will help you sort through these approaches.
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