ADM 1301 Study Guide - Final Guide: Retributive Justice, Business Ethics, Industrial Espionage

• School: University of Ottawa
• Department: Administration
• Course: ADM 1301
• Professor: John Palmer

Document Summary

Chapter 5 - ethics of business: the theoretical basis. Ethics of business - rules, standards, codes, or principles that provide guidelines for morally right behavior and truthfulness in specific situations. Value judgement - subjective evaluations of what is considered important. Moral standards - the means by which individuals judge their actions and the actions of others. Employees: hiring; firing; wages; privacy; discrimination; honesty; conflicts of interest; insider information. Influence becomes the basis for an individual"s value judgements and moral standards that determine behavior. Influences on individuals: corporate or organizational influences, economic efficiency influences, government and legal system influences, societal influences. More examples include: individual morals, national and ethnic cultures, government legislation and regulation, the legal system, religion, colleagues or peers, education, media, corporate mission, vision and values statements, union contracts, competitive behavior. Seven commonly-cited principles (+2 bonus: self-interest (ethical egoism, activists or advocacy groups (ngos, business or industry organizations, professional associations.