Chapter 4 Business 150
Chapter 4 Business 150 Bus 150
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This 2 page Class Notes was uploaded by Jessica D'Aniello on Thursday October 15, 2015. The Class Notes belongs to Bus 150 at Pace University taught by Malki in Fall 2015. Since its upload, it has received 21 views. For similar materials see Contemporary Business Practice in Business at Pace University.
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Date Created: 10/15/15
Chapter 4 Business What is ethical behavior the rules or standards the governing the conduct of a person or group the degree to which affected parties can observe relevant aspects of transactions or decisions Business Ethics Competing fairly and honestly Communicating truthfully Being transparent Not causing harm to others Factors in uencing ethical behavior Cultural differences gt knowledge gt organizational behavior Organizational Behavior a written statement that sets forth the principals that guide an organization s decisions the disclosure of information by a company insider that exposes illegal or unethical behavior by others within the organization Ethical Decisions Making a situation in which an individual or a group makes decisions that is morally wrong illegal or unethical a situation in which more than one side of an issue can be supported with valid arguments Don t assume other people think the way you do Watch out for Con icts of Interest A situation in which competing loyalties can lead to ethical lapses such as when a business decisions may be in uenced by the potential for personal gain the use of unpublicized information that an individual gains from the course of his or her job to bene t from uctuations in the stock market the idea that business has obligations to society beyond the pursuit of pro ts READ ABOUT CAP AND TRADE IN TEXTBOOK a type of environmental policy that gives companies some freedom in addressing the environmental impact of speci ed pollutants by either reducing emissions to meet a KNOW ABOUT Clean act 1963 Clean water act 1992 Oil pollution act 1990 KNOW ABOUT SUSTAINABLE DEVELOPEMNT N TEXTBOOKS operating a business in a manner that minimizes pollution and resource depletion ensuring that future generations will have vital resources a movement that pressures businesses to consider consumer needs and interests For every dollar of sales what percentage of it goes to pro t Net income as a percentage of sales
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