Business Ethics - Lesson 7 - PDF

THE NATURE OF ETHICS AND BUSINESS ETHICS LESSON 7  OBJECTIVE At the end of the module, you are expected to: 1. identify ethics, business ethics, morality, and corporate social responsibility. 2. understand and appreciate ethics through analysis of scenario; and...

THE NATURE OF ETHICS AND BUSINESS ETHICS LESSON 7  OBJECTIVE At the end of the module, you are expected to: 1. identify ethics, business ethics, morality, and corporate social responsibility. 2. understand and appreciate ethics through analysis of scenario; and 3. create a slogan that shows the importance of business ethics.  LESSON 1 There are times that some people experience the following situations: 1. Get the chance to cheat in an exam without anyone knowing 2. Invited by a friend to drink alcohol in a place where it is not allowed.  LESSON 1 3. Chance to steal someone's thing without anyone seeing you. 4. Claim someone's work to get its credit. If you are stuck in the same situation, what do you think you are going to do? It is part of our daily life to interact with lots of people. Starting from your home, neighbors up to your classmates, workmates, and everyone around you. We do different actions and reactions and we are always accountable for everything that we will do, we do, and have done. But how should we respond in different situations and can say that we do act in the right way and in a good way? How can we say that our actions are ethical and moral?  WHAT IS ETHICS? Ethics, derived from the Greek word "ethos," means custom or character. It is a branch of philosophy that studies and guides what is right and good, helping to evaluate and recommend proper behavior and judgment.  WHAT IS ETHICS? Ethics is a branch of philosophy that studies moral values and conduct. It involves: (a) Examining moral issues and behavior. (b) Following societal principles of what is right, fair, and true. (c) Developing good judgment through addressing ethical situations. (d) Exploring how people act (descriptive ethics) and guiding what they should do (normative ethics).  DEFINITIONS 1. Ethics, derived from the Greek word ethos, examines moral values, right and wrong, virtues, character, and moral duty. Modern ethics often specialize in fields like medicine, business, environment, academics, and social issues, addressing topics such as truth, relativism, and universality.  DEFINITIONS 2. Ethics examines personal and societal moral standards, questioning their application and reasonableness in our lives. 3. Ethics seeks objective principles and reasoning to guide actions or decisions to act or refrain from acting. 4. Ethics studies good and evil, right and wrong, and justice and injustice.  DEFINITIONS 5. Ethics, a branch of philosophy, explores morality, human nature, values, judgment, moral attitudes, and emotions like love and hate. Ethical theories help understand these topics and their significance. 6. Ethics is a practical science that logically evaluates the rightness or wrongness of human actions.  DEFINITIONS Ethical relativism occurs when people define ethics based on their own understanding and values, leading to differing views on what is right or wrong depending on personal or societal practices.  ETHICAL RELATIVISM Ethical relativism suggests that what is considered ethical varies between individuals or societies, as moral standards differ across cultures. Actions deemed right in one culture may be wrong in another. For example, abortion is considered morally wrong in some cultures, as reflected in the Republic Act No. 10354 (The Responsible Parenthood and Reproductive Health Act of 2012) in the Philippines.  ETHICAL RELATIVISM according to the republic act No. 10354 also know as The Responsible Parenthood and Reproductive Health Act of 2012, section 3-d, states that:  ETHICAL RELATIVISM "The provision of ethical and medically safe, legal, accessible, affordable, non- abortifacient, effective and quality reproductive health care services and supplies is essential in the promotion of people's right to health, especially those of women, the poor, and the marginalized, and shall be incorporated as a component of basic health care"  OTHER COUNTRIES Any person who engages in one of the following behaviors must, under the direction of Planned Birth 'technical service cadres [i.e., abortionists), be given 'remedial measures' (i.e., an abortion) to terminate their pregnancies:  OTHER COUNTRIES A. Those who are pregnant and not married; B. Those who have already given birth to one child and become pregnant again without a 'birth permit"; C. Those who use illicit means to obtain a 'birth permit' and become pregnant.  OTHER COUNTRIES Ethical relativism suggests that no culture's ethical views are superior, as moral standards are based on individual or societal beliefs. It does not mean actions are free from judgment, but that truth and morality vary according to different norms and perspectives.  WHAT IS MORALITY Morality, derived from the Latin word moralis meaning custom or manner, refers to recognizing what is good or bad, right or wrong in actions and thoughts. While ethics and morality are related, morality focuses on the rightness or wrongness of individual actions, whereas ethics is a broader field of study that includes morality and other related issues.  BUSINESS ETHICS Business ethics, also known as corporate or professional ethics, examines the moral principles and conduct of businesses, employees, and stakeholders. It guides organizations in addressing ethical dilemmas related to management, employee behavior, production, finances, and more. Business ethics ensures that actions align with moral values and laws, promoting integrity and preventing issues in business operations.  WHY IS BUSINESS ETHICS IMPORTANT Business ethics should be a priority as it ensures companies comply with laws, protecting them from crime. It builds trust with partners and customers, fostering loyalty and competitive advantage. Ethical businesses attract investors and stakeholders, who are confident their investments are secure. Additionally, ethical companies appeal to top talent, leading to a motivated workforce and reduced recruitment costs.  CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (CSR) involves a company's commitment to positively impact society by addressing economic, social, and environmental issues. CSR includes creating eco-friendly products, offering quality goods at fair prices, practicing ethical labor standards, supporting charities, and participating in environmental advocacy. This benefits customers, employees, stakeholders, and the business itself. THANK YOU