Ethical Dilemmas: Identify Six Stakeholders Of An Organization

Decent Essays
Register to read the introduction… -stockholder
-employee
-customer -creditor
-Community
-Federal Goverment

Code of Ethic
A company written standard of ethical behavior that are designed to guide manager and employee in making the decision and choice they face every day.

List four types Common Ethical Dilemmas
1. Truth vs. Loyalty: personal honesty and integrity vs. promise-keeping and obligations to others 2. Individual vs. Community: interests of the one or few weighed against those of the more or many
3. Short-Term vs. Long-Term: real concerns of the present weighed against investment for the future
4. Justice vs. Mercy: fair and equal application of the rules vs. compassion for the
Individual

Three principle available to you in resolving an ethical dilemma
1. Ends based: Which decision would provide the greatest good for the greatest number of people
2. Rules based: What would happen if everyone made the same decision as you
3. The Golden Rule: Do unto others as you would have them do unto you.

Ethics in Human
…show more content…
• Is your board the right size (8 to 15 members)?
• Does your audit committee routinely review “high exposure” areas?
• Is at least some of the director’s pay linked to corporate performance?
• Is the performance of each of your director periodically reviewed?
• Do you take the right measures to built trust among director? Chapter 2

Business ethic
The application of ethical standard to business behavior.

Descriptive Normative/Prescriptive
Custom, attitude and rules that are observed within business. Documenting what should be happening. Evolution of the degree to which observed custom, attitude and rules can be said to be ethical. Recommending what should be happening.

StakeHolder
Someone with a share or interest in the business enterprise.

Identify six stakeholder of an organization?
-stockholder
-employee
-customer -creditor
-Community
-Federal Goverment

Code of Ethic
A company written standard of ethical behavior that are designed to guide manager and employee in making the decision and choice they face every day.

List four types Common Ethical

Related Documents

  • Decent Essays

    (2014) examined the study of Brown (2005), Lin (2009), Pastoriza (2007), and Mayer (2009) to analyze the effect of management ethical leadership on employees’ behavior, organizational performance, and financial results. The theory demonstrated that the company leadership creates an ethical climate they need to achieve expectations. The management behavior has a cascading effect on employee’s actions. Then, it allows the top management guiding collective perceptions and build a favorable organization structure (p. 44). Shin et al.…

    • 1441 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    One practice that is discussed in the text is ‘Risk Management Approach to Reputational Capital’. Carly Fiorina said, “Good ethics and good judgement are what must drive business behavior… Employees and customer always know what’s wrong.” (Taking Sides. page 58) Using this approach can give insight to your business on potential risk that can arise. Being able to get feedback from employees along with your consumer can put your corporation in an advantage. Talk with the staff, the suppliers, and every other group that is involved with your business.…

    • 1533 Words
    • 7 Pages
    Decent Essays
  • Decent Essays

    External Ethical Issues

    • 940 Words
    • 4 Pages

    Ethics can be described as an acceptable code of conduct or behaviour someone exhibits or is expected to display in a society. That behaviour is dictated by various scenarios or situations that are different in nature. For example in a company there are various ethical issues that dictate how the company runs. These ethical issues can be internal or external in nature. Internal ethical issues mainly involve the shareholders of a company, employees and the management.…

    • 940 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Both of these skills would help a future accountant to develop. Business sense would let the accountant to see what a business is doing well and what they could improve. Furthermore the ethical aspect this would let an accountant to accurately suggest how a business could increase their profits, without breaching any rules on the way of doing so. The purpose of this essay is to discuss the importance of ethics…

    • 1524 Words
    • 7 Pages
    Decent Essays
  • Decent Essays

    This business study will define strategic plan of integrity continuity analysis to apply social responsibility and ethical standards of management for stakeholder’s needs and agendas. The use of an integrity continuity plan can help to bring a more comprehensive sense of social responsibility and an ethical obligation to the owner and upper management as the primary stakeholders of the company. In this manner, the company can plan to assess the various codes of conduct, ethical standards, rewards systems, and other aspects of the stakeholder interests to avoid the penalties of unethical business practices. The two examples of unhealthy food products and racial diversity in the workplace will be assessed to identify the preventive measures that an integrity continuity plan can provide through social responsibility and ethical management. Stakeholder agendas and needs need to be holistically assessed in order to acknowledge and prevent these unethical practices in the workplace.…

    • 945 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Applying ethical behaviors and moral beliefs into the business environment is known as business ethics. Recently, in the business world, ethics have been a topic that is acquiring a lot of attention (Lewis, 1985). Furthermore, when a company maintains high standards of ethics, everyone within the company will benefit. Ethical ideas may vary from a company to another. Managers’ ethics and how they are influenced by their morals plays a big role in the company’s decisions.…

    • 769 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    2. Only ethical egoism allows each individual's life to be of main importance to them. • Other moral theories all directly or indirectly enjoin altruism, which h is not the part of part ethical egoism. • Altruism regards the individual life as something one may be required to sacrifice for the sake of…

    • 737 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    Company Q Stakeholders

    • 1376 Words
    • 6 Pages

    Create an ethical culture 2. Develop Corporate governance plan 3. Implement an organizational ethics program Ethical culture is the atmosphere in which the decision making process is determining the employee’s answers to ethical issues are correct or mistaken. Ethical culture is used to describe the portions of corporate culture that captures the actions and philosophies that an organization identifies as appropriate behavior Crafting an ethical culture requires leadership to define values and compliance. The participants of a company 's board of directors undertake legal accountability for the firm 's resources and choices, and they appoint its top executive officers to promote and carry out the ethical plan.…

    • 1376 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    In the film adaptation of the play, Glengarry Glen Ross, written by David Mamet, the central themes such as management style, business ethics, and identity play an important role in the business aspects of salesmen. Management style is the occurrence of motivation, instructions, and plans to benefit the employees and the business. Business ethics are a type of applied ethical principles in a business setting. Identity in business could be perceived as the success, the failure, or the meaning of the job. They work together to positively benefit the company, but can also negatively affect and clash in the business environment.…

    • 1330 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    Ethical Business Scandal

    • 957 Words
    • 4 Pages

    An article from Business Insider talks about a few steps a CEO can do to form better ethics among employees, and in the workplace. The steps that are listed are “communicate what is expected of finance and accounting employees, lead by example, define violations to code of ethics and provide a safe mechanism for reporting, establish ongoing training programs, and be visible and open.” (Doxey, C. (2015). 5 steps one CFO took to fix a broken culture and build strong ethics among employees.) If a CEO is able to use these steps in the work force they could be able to form a better ethical work environment. By analyzing each step by starting with the first one “communicate what is expected of finance and accounting employees” talks about that if the CEO communicates with the accountants about ethics and what is expected that there is a higher possibility that they will not cook the books if given a chance.…

    • 957 Words
    • 4 Pages
    Decent Essays