Degrees of CompetitionMonopolistic Competition – there are a lot of competitors trying to sell their product as the finest.Look at table 1.1 in chapter 1.CHAPTER 2: Business Ethics and Social ResponsibilityETHICS – beliefs about what is right and wrong or good and bad in actions that affect othersBUSINESS ETHICS – refers to ethical or unethical behaviors by employees in the context of their jobs.What is one of the most powerful influences on our personal code of ethics? PeersETHICAL BEHAVIOR – behavior that conforms to individual beliefs and social norms about what’s right and goodUNETHICAL BEHAVIOR – behavior that conforms to individual beliefs and social norms about what is defined as wrong and bad.COMPANY PRACTICES AND BUSINESS ETHICSTwo of the most COMMON APPROACHES to formalizing top management commitment to ethical business practices:Adopting written codesInstituting ethics programs“Whistle-Blower Act” – someone who blows the whistle on something unethical going on.Does TAMU have a written code of ethics? Absolutely.MGMT105: 1.27.14 Lecture 3..-Degrees of Competition oMonopolistic Competition – there are a lot of competitors trying to sell their product as the finest.oLook at table 1.1 in chapter 1.-CHAPTER 2: Business Ethics and Social ResponsibilityoETHICS – beliefs about what is right and wrong or good and bad in actions that affect othersoBUSINESS ETHICS – refers to ethical or unethical behaviors by employees in the context of their jobs.oWhat is one of the most powerful influences on our personal code of ethics? PeersoETHICAL BEHAVIOR – behavior that conforms to individual beliefs and social norms about what’s right and goodoUNETHICAL BEHAVIOR – behavior that conforms to individual beliefs and social norms about what is defined as wrong and bad.-COMPANY PRACTICES AND BUSINESS ETHICSoTwo of the most COMMON APPROACHES to formalizing top management commitment to ethical business practices:Adopting written codesInstituting ethics programso“Whistle-Blower Act” – someone who blows the whistle on something unethical going on.oDoes TAMU have a written code of ethics? Absolutely. 01/27/2014 01/27/2014
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