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BUSINESS ETHICS - Coggle Diagram
BUSINESS ETHICS
BUSINESS ETHICS
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- eco system lvl - macro-economic
- organisational lvl - meso-economic
- intra-organisational lvl - micro economic
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MYTHS
All that matters is bottom line
- profit is all that determines success
It's not that serious
- unethical conduct doesn't really harm society at large
Nice guys & girls come second
- being ethical & successful is impossible
When in Rome, do as the Romans do
- it's the norm to act unethically, so why not
You have to break a few eggs to make an ommlette
- lonely & hostile enviro, so trample or get trampled on
Survival of the fittest
- in competitive struggle, can't focus on your competitors' interests
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FRAUD
"unlawful & intentional misrep which leads to actual or potential disadvantage to another person or group"
embezzlement, credit card theft,
identity theft, online crime etc.
fraud triangle: OPPORTUNITY, PRESSURE, RATIONALIZATION
NEPOTISM
granting favourtism to relatives regardless of merit for business deals, tenders & employment
ethnic nepotism - favour race, tribe, language, nationality, religion etc.
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OTHER THINGS TO CONSIDER
- acc principles, King IV, SAICA CPC, reputation of business
- mngmnt integrity, action's legality, reportable irregularity, tax consequences
- risk mngmnt, staff morale effects, expertise of lawyer
GENERAL CONCEPT
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however, doesn't mean act selflessly
to your detriment