MGMT105 1 27 14 Lecture 3 Degrees of Competition o Monopolistic Competition there are a lot of competitors trying to sell their product as the finest o Look at table 1 1 in chapter 1 CHAPTER 2 Business Ethics and Social Responsibility o ETHICS beliefs about what is right and wrong or good and bad in actions that affect others o BUSINESS ETHICS refers to ethical or unethical behaviors by employees in the context of their jobs o What is one of the most powerful influences on our personal code of ethics Peers o ETHICAL BEHAVIOR behavior that conforms to individual beliefs and social norms about what s right and good o UNETHICAL BEHAVIOR behavior that conforms to individual beliefs and social norms about what is defined as wrong and bad COMPANY PRACTICES AND BUSINESS ETHICS o Two of the most COMMON APPROACHES to formalizing top management commitment to ethical business practices Adopting written codes Instituting ethics programs o Whistle Blower Act someone who blows the whistle on something unethical going on o Does TAMU have a written code of ethics Absolutely 01 27 2014 01 27 2014
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