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Creating Sustainable Business - Coggle Diagram

- - - - Ethics
        
        what is ethics
        
        Ethics evolved as a way to guide human conduct, promote social harmony, and explore the foundations of moral reasoning
        
        origen
        
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        Ethics contrasts with self-interest and legal requirements
        
        studying moral duty, values and social codes that guide conduct
        
        standards of right and wrong, good and bad behaviour
        
        Defined as the values which an individual uses to interpret whether any particular action or behavior is considered acceptable and appropriate.
        
        Definition
        
        Ethics refers to principles that guide what is considered right or wrong behaviour, often within professional or philosophical contexts.
        
        Source
        
        Ethics typically stem from professional codes of conduct or philosophical reasoning. For example, business ethics guide corporate behaviour, while medical ethics govern patient care.
        
        example
        
        1 more item...
        
        the "Golden Rule"
        
        guide business ethics by promoting respectful treatment of colleagues, customers, and other stakeholders
        
        examples
        
        dealing honestly with suppliers.
        
        providing good service to customers
        
        paying employees a fair wage
        
        encourages
        
        fairness
        
        compassion
        
        empathy
        
        ethical principle that states you should treat others the way you would want to be treated
      - Ethical Dilemna
        
        Definition
        
        A situation where the right course of action is unclear or involves conflicting values.
        
        Complexity
        
        Multiple stakeholders with competing interests
        
        Cultural and contextual differences
        
        Uncertainty about consequences
        
        Pressure from authority or peers
        
        Example
        
        A company discovers a product defect. Should they recall it immediately (protect consumers) or delay (protect profits
      - Ethical Decision Making Models
        
        IDEA Model
        
        I - Identifying dilemma
        D - Developing options
        E - Evaluating choices
        A - Acting
        
        Models like the IDEA model provide frameworks for working through ethical issues in a reasoned, step-by-step manner
        
        Steps include
        
        Gathering facts
        
        identifying stakeholders
        
        considering consequences of options
        
        determining best course of action
        
        promotes systematic ethical analysis rather than just relying on gut instincts.
        
        the PLUS model
        
        P - Polices
        L - Legal
        U - Universal
        S - Self
        
        Polices
        
        Is the decision consistent with organizational policies?
        
        This ensures alignment with internal codes of conduct, procedures, and professional standards
        
        Legal
        
        Is the decision acceptable under applicable laws?
        
        This step checks compliance with local, national, or international legal frameworks
        
        Universal
        
        Does the decision conform to universal principles?
        
        This includes widely accepted ethical norms such as fairness, honesty, and respect for human rights
        
        Self
        
        Does the decision satisfy my personal definition of right?
        
        This encourages introspection and alignment with one’s own moral compass and integrity.
        
        Conclusion
        
        provides a structured way to evaluate decisions from multiple ethical angles—organizational, legal, societal, and personal
        
        used in conjunction with the IDEA framework for a more robust ethical analysis, ensuring decisions are well-rounded and ethically sound.
      - Business ethics
        
        definetions
        
        Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed.
        
        Business ethics examines ethical principles and moral issues that arise in business environments. It applies to all aspects of business conduct, from board governance to sales practices to supplier relationships.
        
        Topics
        
        ethical business practices
    - - ethics
        
        Ethics are professional or philosophical guidelines
      - Moral
        
        morals are personal convictions
      - Laws
        
        laws are societal rules enforced by the state
  - - - Morals are personal beliefs about right and wrong, shaped by one’s culture, religion, and upbringing.
      - source
        
        Unlike ethics, morals are more subjective and vary between individuals and communities
        
        Example
        
        Helping the poor or being honest are moral actions rooted in personal or cultural values.
  - - - Law consists of rules that are enforced by the state to regulate behaviour within society
      - source
        
        Laws are created by governments and are binding on all citizens, regardless of personal beliefs
        
        Example
        
        Tax regulations and anti-discrimination laws are legal requirements that must be followed
    - - information
        
        Ethics goes beyond what is legally required to what is morally right
        Legality sets the minimum standard, but ethics calls us to higher values of honesty, accountability, justice.
        Ethical lapses like bribery may be widespread in an industry, but that does not make them acceptable.
        
        govern actions of individuals around the world on a daily basis
        work hand-in-hand to ensure that citizens act in a certain manner, and likewise coordinate efforts to protect the health, safety and welfare of the public
        
        Though law often embodies ethical principals, law and ethics are not co-extensive. Based on society’s ethics, laws are created and enforced by governments to mediate our relationships with each other, and to protect its citizens
        
        While laws carry with them a punishment for violations, ethics do not
        
        laws enforce the behaviours we are expected to follow, while ethics suggest what we ought to follow, and help us explore options to improve our decision-making