BUSA 2106 - LEGAL ENVIRONMENT: Ethics & Business Decision Making Edwin K. PalmerEthics“And what is good and what is not good? Need we ask anyone to tell us these things?PlatoEthics“Greed, for lack of a better word, is good. Greed is right. Greed works. Greed Clarifies, cuts through and captures the essence of the evolutionary spirit. Greed, in all of its forms …, has marked the upward surge of mankind.”Gordon Gekko, Wall StreetSocial Responsibility of BusinessStakeholder Approach – What does corporate America owe to it’s employees, customers, creditors, suppliers, etc.?Corporate Citizenship – What does corporate America owe to society?Errors of Omission/Commission ERROR OF COMMISSION..what you did that perhaps you shouldn’t have ERROR OF OMISSION..what you did not do that perhaps you should haveDuty Based Ethics Immanuel Kant Universalizability and reversibility Religious/humanistic/compassionate “Do unto others as you would have them do unto you” “It’s not the consequence of the act that matters; it’s the nature of the act itself” Deontilogical = all about motivationUtilitarianism Jeremy Bentham  “It’s not the act that matters. Look to the result.” The greatest good for society or the greatest good for the greatest number of people.  Teleological= all about the consequencesEthics“At the heart of liberty is the right to define one’s own concept of existence, of meaning, of the universe, and of the mystery of human life.”United States Supreme Court, 1973.. If this be true, do you not determine for yourself what is good and what is not good, what is ethically right and what is ethically wrong? In so doing, do you not then determine what you should do? Do you always do the “right