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8 M. Fund. - Coggle Diagram
8 M. Fund.
Factors Influencing Ethical Decision Making
Social consensus
Probability of harmful outcome
Potential magnitude of the consequences
Length of time between decision and onset of consequences
Top-management actions on ethics
Number of people affected
Extent of ethical problems within the organization
Ethical Behaviour in Business
Ethics
standard of behaviour by which conduct is judged
laws are the values and standards enforced by courts
Ethics are the moral principles and values
legal or ilegal
The development of an ethical base
the rules
an individual's moral character
the reflection of the consequence of the behaviour
Morals
Rules developed as a result of cultural norms and values
good or bad
Today’s business ethics consist of a subset of major life values learned since birth. The values business people use to make decisions have been acquired through family, educational, and religious institutions. Ethical values are situation specific and time oriented
Ethical Behaviour in Business
Code of Ethics
A guideline to help marketing managers and others make better decisions
Advantage
Can be an effective internal control on behaviour
more desirable than external controls such as government regulation
Helps employees identify the business practices their firm recognizes as being acceptable
Helps employees avoid confusion when determining whether their decisions are ethical
The process of formulating the code of ethics facilitates discussion among employees
Morality and Buniness Ethics
Ethical Development
Conventional Morality
Postconventional morality
Preconventional Morality