Business Essentials (12th Edition) (What's New in Intro to Business)
12th Edition
ISBN: 9780134728391
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
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Chapter 2, Problem 2.9AE
Summary Introduction
To explain: The personal code of ethics and to decide what is right or wrong.
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What are the most important ethical considerations that managers must take into account when making business decisions, and how can they balance competing priorities and obligations to ensure that their actions align with their values?
Discuss what it means to practice good business ethics, and highlight the forces that can influence ethical decision-making.
Decribe perspective on an ethical decision as it pertains to the conduct of individuals, firms, nonprofit organizations, and government entities, including why and how you either made or supported/opposed that decision.
Chapter 2 Solutions
Business Essentials (12th Edition) (What's New in Intro to Business)
Ch. 2 - Prob. 2.1QRCh. 2 - Prob. 2.2QRCh. 2 - Prob. 2.3QRCh. 2 - Prob. 2.4QRCh. 2 - Prob. 2.5QRCh. 2 - Prob. 2.6QACh. 2 - Prob. 2.7QACh. 2 - Prob. 2.8QACh. 2 - Prob. 2.9AECh. 2 - Prob. 2.10AE
Ch. 2 - Prob. 2.11ACh. 2 - Prob. 2.12ACh. 2 - Prob. 2.13ACh. 2 - Prob. 2.14ACh. 2 - Prob. 2.15TECh. 2 - Prob. 2.16TECh. 2 - Prob. 2.17TECh. 2 - Prob. 2.18TECh. 2 - Prob. 2.19EECh. 2 - Prob. 2.20EECh. 2 - Prob. 2.21EECh. 2 - Prob. 2.22CCh. 2 - Prob. 2.23CCh. 2 - Prob. 2.24CCh. 2 - Prob. 2.25CCh. 2 - Prob. 2.26CCh. 2 - Prob. 2.27CCh. 2 - Prob. 2.28CCh. 2 - Prob. 2.29CCh. 2 - Prob. 2.30C
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- How do the terms business ethics and social responsibility differ from each other? Multiple Choice Business ethics concerns the impact of the entire business's activities on society, whereas social responsibility relates to an individual's decisions that society evaluates as right or wrong. Business ethics is a broader concept, whereas social responsibility is a narrower concept. Business ethics and social responsibility can be used interchangeably because they mean the same thing Business ethics relates to an individual's or a work group's decisions that society evaluates as right or wrong, whereas social responsibility concerns the impact of the entire business's activities on society.arrow_forwardExplain the utilitarian, individualism, moral rights, justice, and practical approaches for making ethical decisions.arrow_forwardAn ethical code serves as a compass guiding individuals or organizations in their actions, ensuring they align with moral principles and values. It delineates the standards of conduct expected, emphasizing honesty, integrity, fairness, and respect for others. This code acts as a foundation for decision-making, fostering trust, accountability, and transparency within diverse contexts such as business, medicine, or academia. By adhering to an ethical code, individuals and institutions not only uphold their own reputation but also contribute to the collective welfare, promoting a harmonious and just society Question How does adherence to an ethical code contribute to fostering trust within an organization?arrow_forward
- Discuss what it means to practice good business ethics,and highlight three factors that influence ethical decisionmakingarrow_forwardEthical codes serve as the moral compass guiding individuals and organizations in navigating the complexities of ethical decision-making. These codes are rooted in fundamental principles such as integrity, honesty, fairness, and respect for others. They provide a framework for behavior and decision-making, ensuring that actions align with ethical values and principles. In professional settings, ethical codes outline the responsibilities and obligations of individuals towards clients. colleagues, employers, and society at large. For example, in healthcare, etifical codes dictate the duty of healthcare professionals to prioritize patient well-being, maintain confidentiality, and uphold the highest standards of care. Similarly, in business, ethical codes emphasize integrity in dealings with clients, suppliers, and competitors, as well as social responsibility and environmental sustainability. Ethical codes are not merely abstract guidelines; they are practical tools that help individuals…arrow_forwardAnalyze and explain why fairness and honesty in business are important ethical concerns. Evaluate and describe some of the major ethical issues businesspeople face.arrow_forward
- Discuss the methods or modes for integrating ethics into daily decisions making and work practices for employees in business corporations or businesses.arrow_forwardHow has the study of Business Ethics as a subject helped you make ethical decisions & choices to navigate your professional life better?arrow_forwardDevelop a code of ethics for your business. Your code of ethics should reflect some of your company valuesarrow_forward
- Describe the three criteria for making ethical decisions and explain how these criteria differ.arrow_forwardDevelop a code of ethics for your business. Tip: Your code of ethics should reflect some of your company values.arrow_forwardUsing the definition in course readings define Ethics, Business Ethics and Corporate Social Responsibility. The course text identifies the following approaches to ethical principles for individuals and businesses; Utilitarianism, Universalism, a Rights Approach, Justice, Virtue, Common Good and Ethical Relativism. Identify your approach of choice and explain why you prefer it.arrow_forward
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