PHIL 1010 Lecture Notes - Lecture 5: Business Ethics

• School: University of Guelph
• Department: Philosophy
• Course: PHIL 1010
• Professor: Victoria Burke

Document Summary

The direct attempt to formally or informally manage ethical issues or problems through specific policies, practices, and programmes. Components of business ethics management: mission or value statements. General statements of corporate aims, beliefs, and values. Sets out a broad mission of where the company is going. In terms of business ethics, they often fail to set out a very specific social purpose and there is little evidence to suggest that they have much impact on how employees actually behave: codes of ethics. Explicit outlines of what type of conduct is desired and expected of employees from an ethical point of view within a certain organization, profession, or industry. They essentially are to set standards of ethical behaviour. Most widespread approach to managing business ethics: reporting/advice channels. Hotlines or channels where employees can notify management of ethics abuses or problems and to seek help and guidance on solutions: risk analysis and management.