Learning Objectives
         Learning Objectives
   Explain business ethics.
    Explain business ethics.
   Give reasons why ethical behavior is 
    Give reasons why ethical behavior is 
    good for business.
    good for business.
   Define social responsibility.
    Define social responsibility.
   Describe the social responsibilities of 
    Describe the social responsibilities of 
    businesses.
    businesses.
    Why Is This Important?
    Why Is This Important?
   Understanding business ethics and 
   Understanding business ethics and 
  social responsibility informs you of 
  social responsibility informs you of 
  your rights as a consumer, employee, 
  your rights as a consumer, employee, 
  and citizen.
  and citizen.
        What Is Ethics?
        What Is Ethics?
    Ethics is the set of moral principles by which 
    Ethics is the set of moral principles by which 
  people conduct themselves personally, socially, or 
  people conduct themselves personally, socially, or 
  professionally.
  professionally.
    Business Ethics is a set of laws about how a 
    Business Ethics is a set of laws about how a 
  business should conduct itself.  
  business should conduct itself.  
          Legal Responsibility
          Legal Responsibility
    In order for any business to be successful, it must 
    In order for any business to be successful, it must 
    operate legally and humanely.
    operate legally and humanely.
    The US government has independent agencies to 
    The US government has independent agencies to 
    protect society.
    protect society.
    OSHA – a department of Labor sets and enforces work-
    OSHA – a department of Labor sets and enforces work-
    related health and safety rules.
    related health and safety rules.
    Independent agencies protect consumers, monitor 
    Independent agencies protect consumers, monitor 
    broadcast communications, and address discrimination 
    broadcast communications, and address discrimination 
    in the workplace.
    in the workplace.
    Businesses that fail to follow laws are subject to fines, 
    Businesses that fail to follow laws are subject to fines, 
    lawsuits, and new regulations. 
    lawsuits, and new regulations. 
            Code Of Ethics
            Code Of Ethics
    A set of strict guidelines for maintaining ethics in the 
    A set of strict guidelines for maintaining ethics in the 
    workplace.
    workplace.
    Professional groups have their own code of ethics.  
    Professional groups have their own code of ethics.  
    Examples: doctors & lawyers
    Examples: doctors & lawyers
    Can cover everything from employee behavior to 
    Can cover everything from employee behavior to 
    environmental  safety. 
    environmental  safety.