The Nature of Ethics and Business Ethics

The Nature of Ethics and Business Ethics

• This module aims to help identify ethics, business ethics, morality, and corporate social responsibility.
• It promotes understanding ethics using scenario analysis, and creating slogans that show the importance of ethics in business.

Lesson 1 Scenarios

• The lesson begins by presenting scenarios which include the chance to cheat on an exam unnoticed.
• Another scenario is being invited to consume alcohol with a friend in an unauthorized location.
• A further scenario is having the chance to steal without being observed.
• Another scenario is claiming credit for someone else's work.

Ethics in Daily Life

• Interacting with various people is part of daily life, from neighbors to workmates.
• People are accountable for different actions and reactions.
• It raises questions on how to respond in different situations, act in a way that is considered right and, whether actions are considered moral and ethical.

What is Ethics?

• The word ethics comes from the Greek word "ethos," which translates to custom or character.
• Ethics' main concern is studying what is right and good, helping to evaluate and recommend proper behavior and judgment.
• Ethics examines moral values and conduct, and also involves examining moral issues and behavior.
• It involves following societal principles of what is right, fair, and true, developing good judgment through addressing ethical situations.
• Ethical relativism is the exploration of how people act and its guidance of what they should do.

Definitions of Ethics

• Ethics studies and examines moral concepts like values, right and wrong, moral duty, and character.
• Ethics examines personal and societal moral standards, and questions their application in any given situation.
• Ethics seeks principles and reasoning to guide actions when deciding to act or not.
• The study of good and evil, right and wrong, and justice and injustice are components of ethical study.
• Ethics is a philosophical branch and explores values, morality, emotions, judgment, human nature and moral attitudes.
• Ethical theories help understanding these topics and significance.
• Evaluating the rightness or wrongness of actions logically is a component of ethics.

Ethical Relativism

• Defining ethics based on personal understanding and values leads to differing views on what is right or wrong.
• The Republic Act No. 10354 in the Philippines, known as The Responsible Parenthood and Reproductive Health Act of 2012 views abortion as wrong.
• Section 3-d states that comprehensive reproductive healthcare is a right to health that involves ethical and safe services.
• In other countries, pregnant and unmarried people, or those who use illicit ways to obtain a birth permit face remedial measure for pregnancies if the already have one child.
• Ethical relativism suggests that no culture's ethical views are superior, and moral standards are based on individual or societal beliefs.
• Truth and morality vary according actions based on perspectives.

What is Morality?

• Morality comes from the Latin word moralis, meaning custom or manner.
• Morality includes knowing what is good v bad, and right v wrong when considering actions.
• Morality focuses on the rightness or wrongness of individual actions.
• Ethics is a broader field of study including morality.

Business Ethics

• Corporate or professional ethics, also known as business ethics, studies the moral principles and conduct of businesses, stakeholders, and employees.
• It guides organizations in addressing dilemmas related to production, finances, management, and employee behavior.
• Actions in business need to align with moral values and promoting integrity to help prevent issues in operations.

Why is Business Ethics Important?

• Compliance protects companies from crime.
• It builds partner and customer trust, fostering loyalty and competitive advantage.
• Ethical businesses attract safe investments.
• Ethical companies attract top talent, leading to a motivated workforce and reduced recruitment costs.

Corporate Social Responsibility

• CSR involves a company's commitment to impact society positively by addressing economic, social, and environmental issues.
• CSR may include eco-friendly products, ethical labor standards, supporting charities, quality goods and fair prices, and advocacy for the environment.
• Customers, employees, stakeholders, and the business itself benefit from the above.

This module helps identify ethics, business ethics, morality, and corporate social responsibility. It promotes understanding ethics using scenario analysis and creating slogans demonstrating the importance of ethics in business. It also raises questions on how to respond in different situations, act ethically, and decide whether actions are considered moral and ethical.