COMMERCE 1E03 Chapter Notes -Insider Trading, Invisible Hand, Accounting Scandals
2 Feb 2013
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Document Summary
Ethics- standards of moral behaviour; that is, behaviour that is accepted by society as right versus wrong: ethics begins with each of us. Ethical behaviour should be exhibited in our daily lives, not just in a business environment. It can be very difficult to maintain a balance between ethics and other goals however it is helpful to ask the following questions: Any trust and co-operation between workers and managers must be based on fairness, honesty, openness, and moral integrity. Integrity-based ethics codes move beyond legal compliance to create a. Do-it-right climate that emphasizes core values such as honesty, fair play, good service to customers, a commitment to diversity, and involvement in the community. Six-step process can help improve business ethics: Top management must adopt and unconditionally support an explicit corporate code of conduct. Employees must understand that expectations for ethical behaviour begin at the top and that senior management expects all employees to act accordingly.
