HRM 1101 Lecture 6: HRM 6
3 May 2018
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• Business Ethics
o Ethics Defined
▪ Principles, values, and beliefs that define what is right and wrong
behavior.
o Why Should Companies Care About Ethics?
▪ First ad foreost: it’s the right thig to do
▪ It’s expesive to igore (daage to reputatio, legal fees, etc.)
▪ When companies align elements of internal brand (strategy, values,
leadership, and rewards) around ethics and integrity -- and effectively
communicate them, it helps to create an ethical culture:
• Aids in talent attraction and retention
• Results in a better decision-making process across the
organization
• Builds reputation with all stakeholder groups – the Trust Bak
• Increases employee engagement (or commitment)
o Typical Ethical Issues
▪ Conflicts of Interest
• When your professional and personal interests are at odds
▪ Fraud
• Deceit, dishonesty
▪ Bribery or Kickbacks
• When someone pays you for an edge
▪ Product Safety
▪ False Advertising
▪ Discrimination, Sexual Harassment
▪ Fiduciary Lapses
• Financial professionals and some others have the duty to take
special care of their clients $$
o Ethical Culture Overview
▪ Leadership:
• Role Models
• Communicators
• Discipline/Reward
• Keepers of the culture
▪ Communication:
• Open culture
• Manager training
• Values everywhere
• Robust communication up, down, and across
▪ Infrastructure:
• Formal compliance systems
• Background checks
• Whistle-blowing systems
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