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Today’s Journal Entry What would motivate a top business executive to go undercover in their own company? Ethical Behaviour BOG 4E – Business Leadership, Becoming a Manager Ethics Ethics Rules that help us tell the difference between right and wrong and encourage us to do the right thing. Set standards of “good” or “bad” or “right” or “wrong” in one’s conduct. Values Values Tell us what we think is important and this in turn helps us make decisions about right and wrong • Example – if you value trustworthiness it is unlikely you will betray a friend Morals Morals Are the rules we use to decide what is good and bad Example – one of your moral rules may be that stealing is wrong because it harms the people you steal from Ethical behavior Ethical behaviour is based on values such as: Trustworthiness Respect Responsibility Caring Justice Good Citizenship Following moral rules What is ethical behavior? Ethical behaviour is all about doing the right thing Note: Legal behaviour is not necessarily ethical behaviour. i.e. just because it is legal does not mean it is ethical. How can high ethical standards be maintained? Business Code should have a Code of Ethics of Ethics is document that explains specifically how employees should respond in different ethical situations How can high ethical standards be maintained? Moral Management Managers should act in an ethical manner and lead by example How can high ethical standards be maintained? Whistleblowers Employees who inform officials or the public about legal or ethical violations at their company Major Ethical Issues in Business Today Fraud Crime of lying or pretending Bre – X Major Ethical Issues in Business Today Accounting Scandals Publicly exposed crime involving accountants or senior executives who alter accounting records for personal benefit Enron Major Ethical Issues in Business Today Insider Trading Buying or selling shares in a company based on confidential information i.e. as an executive of a company you would have access to information not available to the general public, you can not use this information to make or save yourself money. Martha Stewart Factors influencing ethical managerial behavior—the person, organization, and environment Ethical Scenarios A. Bobby is filling out a job application. He doesn’t think he is qualified for the job. He sees another application and copies some of the information down in order to make his look better. Ethical? B. Jane works at a factory with a time clock to record how many hours a day she works. She found a way to add 45 minutes per day to her timecard without anyone knowing. She asks you if you would like to know how. Ethical? C. Two math students are preparing for their exam. They are allowed to use a cheat sheet for their test. One student asks the other for help creating the sheet and said they would make a copy for them too. Ethical? D. Tom heard the new Drake song on the radio today. There are four songs from the CD he likes, but thinks the rest aren’t very good. He decides to download the four songs from a music pirating website. Ethical? E. The school football team is playing in a championship game in a couple of weeks. Some players are considering purchasing steroids to help give them a boost. Ethical? F. Samantha works for Microsoft. She knows that a new operating system will be announced next week. This will increase her stock price, so she decides to purchase more before the increase. Ethical? G. Conrad is the CEO of an investment firm. He finds out that other executives are taking company money and using it for personal benefit. He can either inform the Board of Directors/Government agencies, or not say anything. What would you do? Is this ethical? H. Your colleague rarely completes work assignments. You have been helping him finish the last two projects. You want him to stop asking you to help him because you have work of your own to do. Ethical? I. You work in the quality control division of a company. You have rejected some of the parts that have come through your department because they did not meet company standards. Your boss tells you that you should ignore the low standard parts. Ethical? Activity Research one case of any of the three types of ethical dilemmas. (Fraud, Accounting Scandal, Insider Trading) Give me a description of what happened, who was involved, the consequences for guilty party, other employees, customers, or anyone affected. Hand in when finished