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Ethics Handbook

BUS 102
Ethics and Law in Business and Society
Summer 2016
Section 121
Cayla Baluyot
861129450

Personal Code of Ethics


Always remember the Golden Rule: Do not do what you do
not want others doing to you and vice versa. Karma is real.
Always be true to yourself
Always love yourself, because at the end you only have
yourself
Always do your best no regrets
Everything is a learning experience.

Be accountable and responsible for your own actions.


Sharing is caring
Stay hungry for knowledge and use it appropriately
Put yourself in others shoes to understand where they are
coming from
Do not always focus on the what ifs
Do not procrastinate. Act now.
Do not take shortcuts in life. You will never learn.
Follow your own personal code of ethics.

Ethics Handbook: Main Takeaways


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A dynamic environment consists of government, business, and society


Men are not angels; therefore, government is necessary
Societys needs are universal principles
Markets are competitive; therefor, guidelines and regulations are needed
The social contract is an agreement between state and society
Morals are based on our own ideas of right and wrong
Ethics is about our actions and decisions

8. Not everyone is on the same same stage of Kohlbergs stage of morality


development. Therefore, good managers are able to meet each of the employees
level
9. Goodness is both rare and laudable and noble Aristotle
10. Moral and political reflection can help us find our way to justice or the moral
truth
11. Utilitarianism means that the right thing to do is the one that will maximize the
happiness for the greatest number of people
12. Each person is born with the natural right to liberty
13. Self-ownership is critical to ones life as well as to justice
14. Kant: morality depends on the motive of the actions
15. Aristotle: The laws purpose is to cultivate habits that lead to good character
16. In finding justice, we cannot remain neutral all the time. We must consider the
morality of the issues because morals are part of ones identity
17. Having respect and being open-minded are keys to finding justice
18. Good character means not only having the ability to do the right thing, but also
having the appropriate desires and emotions to support ones behavior
19. Businesses have the power to influence or corrupt our morals
20. Business ethics class is necessary in providing role models
21. Corporate mission should be clearly defined and rarely changed
22. Governance is the system that defines the distribution of rights and
responsibilities among different participants in the corporation
23. The job of the board of directors is not to mange, but to govern
24. The most important role of the board of directors is to set moral framework
25. Accountability is key to ethics and governance
26. Peter Druckers three dimensions of the corporation are an economic institution, a
human organization, and an embodiment of values
27. Corporate social responsibility is not an obligation anymore for many businesses
because businesses impact social and environment
28. The goal of CSR is to correlate a business social and environmental
responsibilities with their purpose and value
29. In order for CSR to be effective, CEOs must actively engage in it
30. What defines market is societal needs
31. According to Milton Friedman, the purpose of corporation is to make profits
32. Having a narrow concept of the role of business making profits only misses
the opportunity for economic development and social progress
33. Archie Carrols four levels of corporate responsibilities are economic, legal,
ethical, and philanthropically.
34. Creating shared value is important because it creates a cycle of company and
community prosperity
35. Creating economic and societal value through CSV will drive growth as it
increases productivity and creates opportunity for innovation
36. Corporations should not lose focus of what they truly value, because this lack of
focus will have great impacts on both the economy and community
37. What would legitimize business again by creating or redefining their moral
framework

38. Succession planning is an important role of the board of directors


39. Corporate governance depends on the independent behavior of the board as a
whole
40. Corporate governance depends on a balance of power
41. Clearly defining the boards responsibilities is important in order to have effective
corporate governance
42. The boards duty is to provide oversight, and not management.
43. The board must set the tone at the top so it can have ripple effect throughout the
organization
44. The goals of reforms are to increase responsibility, accountability, and
responsiveness of the board, rather than mere compliance
45. The law is a mechanism that protects ethics
46. Laws exist because of market and government failure
47. Through the companion of rule and law, people can negotiate independently
48. Public policy is a response to public and private goods failing
49. Government-in-action is just as important as government action
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Public policy provides benefits to citizens, but it has its costs