Chapter 4 notes
Chapter 4 notes BLAW 231
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This 1 page Class Notes was uploaded by Kathleen Notetaker on Sunday September 6, 2015. The Class Notes belongs to BLAW 231 at Missouri State University taught by Nancy Allen in Spring 2015. Since its upload, it has received 18 views. For similar materials see LEGAL ENVIRONMENT OF BUSINESS in Business Law at Missouri State University.
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Date Created: 09/06/15
Ch 4 Ethics I Business Ethics a De ned i What constitutes as right or wrong behavior in the business world and how moral and ethical principles are applied to situations that arise in the work place b Why important c Ethical leadership i Has to start at the top management should set standards and apply them to themselves d Sarbannes Oxley Act of 2002 on nal exam i Federal law that only applies to publicly traded companies ii Makes the companies require a con dential reporting system so that their employees can anonymously report suspicious behavior ll Approaches to ethical reasoning process that an individual looks at a situation based on their ethical standards a Duty based ethics i Religion 1 Have an element of compassion ii Kantian Emanuel Kant was a German philosopher who came up with philosophy about moral behaviors should be respected because we are different than objects endowed with moral integrity 1 Categorical imperative a Question you ask yourself when trying to decide if ethical or not what would happen if everyone acted that way iii Principles of rights 1 Called deontology people have rights 2 Key factor is how it effects the rights of others b Outcome based i Utilitarianism philosophical theory that focuses on the consequences of an act or preestablished moral values or religious beliefs 1 Something is ethically right if it produces the greatest amount of good for the greatest number of people 2 Have to determine who is going to be effected lll Business ethics and the law a Moral minimum least you can do from an ethical standpoint lV Business ethics on a global level a Ethical concerns overseas b Foreign corrupt practices act on the nal FCPA i Prohibits US business people from bribing foreign officials from advantageous contracts 1 Penalites federal prison ii Does permit little bribes 500 limit
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