Podcast
Questions and Answers
What is one major benefit of ethical behavior in business?
What is one major benefit of ethical behavior in business?
- Diminished customer trust
- Improved employee retention (correct)
- Increased legal violations
- Higher short-term profits
A strong ethical culture can negatively impact employee engagement.
A strong ethical culture can negatively impact employee engagement.
False (B)
What is the relationship between business ethics and risk management?
What is the relationship between business ethics and risk management?
Ethical behavior helps mitigate legal and financial risks, reducing the likelihood of lawsuits and fines.
Employers have an ethical responsibility to provide a _______ and healthy work environment for their employees.
Employers have an ethical responsibility to provide a _______ and healthy work environment for their employees.
Match the following ethical benefits in business with their descriptions:
Match the following ethical benefits in business with their descriptions:
How does ethical behavior influence talent attraction?
How does ethical behavior influence talent attraction?
Prioritizing profit over ethics is likely to lead to long-term sustainability.
Prioritizing profit over ethics is likely to lead to long-term sustainability.
What impact does ethical behavior have on customer relationships?
What impact does ethical behavior have on customer relationships?
What is the primary focus of occupational health and safety?
What is the primary focus of occupational health and safety?
Business ethics addresses the ethical considerations within the personal lives of employees.
Business ethics addresses the ethical considerations within the personal lives of employees.
What does ethics provide in the context of decision-making?
What does ethics provide in the context of decision-making?
Ethical behavior in the workplace is grounded in principles such as __________, integrity, fairness, and respect for others.
Ethical behavior in the workplace is grounded in principles such as __________, integrity, fairness, and respect for others.
Match the following terms with their definitions:
Match the following terms with their definitions:
What is one of the benefits of implementing business ethics in an organization?
What is one of the benefits of implementing business ethics in an organization?
Ethical considerations in the workplace have no impact on employee rights.
Ethical considerations in the workplace have no impact on employee rights.
Name one personal factor that may influence ethical decision-making.
Name one personal factor that may influence ethical decision-making.
What is a key ethical responsibility of employers regarding occupational health and safety (OHS)?
What is a key ethical responsibility of employers regarding occupational health and safety (OHS)?
Fair treatment in OHS practices excludes considerations of gender and race.
Fair treatment in OHS practices excludes considerations of gender and race.
Name one psychological factor that can impact ethical decision-making.
Name one psychological factor that can impact ethical decision-making.
Employers should communicate openly about OHS policies to foster _____ among employees.
Employers should communicate openly about OHS policies to foster _____ among employees.
Which of the following factors can influence an individual's ethical decision-making process?
Which of the following factors can influence an individual's ethical decision-making process?
Non-compliance with OHS regulations can lead to ethical dilemmas but is never considered harmful to employees.
Non-compliance with OHS regulations can lead to ethical dilemmas but is never considered harmful to employees.
An environment that upholds ethical standards can create a culture of _____ among employees.
An environment that upholds ethical standards can create a culture of _____ among employees.
Match the following ethical principles with their descriptions:
Match the following ethical principles with their descriptions:
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Study Notes
Importance of Business Ethics
- Strong ethical behavior leads to a positive company reputation.
- Ethical practices build trust and loyalty among employees and customers, leading to repeat business and committed staff.
- Adhering to ethical standards mitigates legal and financial risks by preventing lawsuits and fines.
- Ethical workplaces promote engaged and motivated employees who are proud of their work.
- Companies with strong ethical cultures attract top talent as job seekers prioritize ethical workplaces.
- Prioritizing ethics, even over short-term profits, is essential for long-term sustainability and positive relationships with stakeholders.
Occupational Health & Safety and Ethics
- Employers have an ethical responsibility to provide a safe and healthy work environment for their employees, including hazard identification, training, and compliance with regulations.
- OHS practices must respect workers' fundamental human rights, including a safe workplace, awareness of potential hazards, and participation in safety decisions.
- Fair treatment of all workers, regardless of gender, race, age, or disability, is ethically crucial.
- Ethical behaviour requires transparency regarding OHS practices and accountability for all individuals involved.
Factors influencing ethical decision-making
- Personal Factors:
- Psychological: Locus of control, moral maturity, and heuristics/cognitive biases affect ethical decision-making.
- Demographic: Age, gender, race, education level, and socioeconomic status shape values, beliefs, and perspectives, impacting ethical choices.
Ethics, Business Ethics, and Morality
- Ethics: societal rules and guidelines that dictate expected behavior for community membership. Examples include laws, professional codes of ethics, and codes of conduct.
- Business Ethics: focuses on ethical considerations within the business environment, examining situations, activities, and decisions where right and wrong are at play.
- Morality: refers to personal beliefs and values, which may or may not align with societal norms or business ethics.
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