Chapter 1 Business Ethics Essay

5850 Words Mar 4th, 2011 24 Pages

Course Leader: Shaharudin Yunus


TOPIC 1: Fundamentals of Values, Ethics and Morality


At the end of this chapter, you will be able to:
Define values
List the sources of value
Identify the roles of values in decision-making
Identify the definition of ethics
Identify the nature of ethical reasoning
Identify the concept of ethical standards and judgement
Define morality
Identify the various phases of Kohlberg's theory of moral development
Identify the differences between ethics and morality
Identify the similarities between ethics and morality
Identify the basic unification of ethics, values and morality

1.1.1 Definition
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Values mold the personality of individuals and influence their actions. Values differ from one person to another depending on beliefs, interests and the environment in which the person is brought up.

1.1.2 Sources
We have learned that different people have different values. Still, there are some values that are agreed by most, if not all, people. This is due to the fact that those values come from the same sources. Values may come from:

upbringing religion social norms experiences. Upbringing
Most parents set rules for their children. Although the rules may not be written, family members are expected to obey them. Usually, the check and balance for these rules are done through punishment and reward. For instance, if you are caught lying, you will probably be scolded, spanked, grounded and you may not even get your pocket money. Contrarily, you will be rewarded by telling the truth, either with praises, hugs or gifts. Gradually, all these rules become norms in your lives regardless of the presence of your parents.

Religion is also a source of values. All religions have moral instructions and promote values to their believers. Muslims, for example, believe in life after death and the Day of Judgement, where each individual is accountable for his or her actions in this world. As such the value of

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