Chapter 4 – The Ethical and Social EnvironmentManager of the week –Managerial Ethics – three basic areas of concern for managerial ethics are the relationships of the firm to the employee, the employee to the firm, and the firm to other economic agents.Ethics in OrganizationsIndividual Values -> Managerial Values <- Organizational ValuesManaging Ethical BehaviorMust begin with top management which establishes the organizations culture and defines what will and will not be acceptable behaviorTraining how to handle different ethical dilemmasDevelop a written code of ethicsA formal, written statement of the values and ethical standards that guides a firms actionsIndividual Issues –Behavior and ConsciencePrivacyModel for Deciding Whether or not a Particular Action or Decision is ethicalGather relevant factual informationDetermine the most appropriate moral valuesMake a judgementEthical Norms Affecting ActionsUtility – act optimizes what is best9.16.14 – MGMT309 :CHAPTER 4 : Chapter 4 – The Ethical and Social Environment Manager of the week – -Managerial Ethics – three basic areas of concern for managerial ethics are the relationships of the firm to the employee, the employee to the firm, and the firm to other economic agents.-Ethics in OrganizationsoIndividual Values -> Managerial Values <- Organizational Values -Managing Ethical BehavioroMust begin with top management which establishes the organizations culture and defines what will and will not be acceptable behavioroTraining how to handle different ethical dilemmas oDevelop a written code of ethicsA formal, written statement of the values and ethical standards that guides a firms actionsoIndividual Issues –Behavior and Conscience Privacy-Model for Deciding Whether or not a Particular Action or Decision is ethical oGather relevant factual informationoDetermine the most appropriate moral valuesoMake a judgement-Ethical Norms Affecting ActionsoUtility – act optimizes what is
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