Business Ethics<\/a> is designed to meet the scope and sequence requirements of the single-semester business ethics course. This title includes innovative features designed to enhance student learning, including case studies, application scenarios, and links to video interviews with executives, all of which help instill in students a sense of ethical awareness and responsibility.<\/p>\n Business ethics<\/b>\u00a0(also known as\u00a0corporate ethics<\/b>) is a form of\u00a0applied ethics<\/a>\u00a0or\u00a0professional ethics<\/a>, that examines ethical principles and moral or ethical problems that can arise in a business environment.<\/p>\n Ethics consists of the standards of behavior to which we hold ourselves in our personal and professional lives. It establishes the levels of honesty, empathy, trustworthiness, and other virtues by which we hope to identify our personal behavior and our public reputation. In our personal lives, our ethics sets norms for the ways in which we interact with family and friends. In our professional lives, ethics guide our interactions with customers, clients, colleagues, employees, and shareholders affected by our business practices. Should we care about ethics in our lives? In our practices in business and the professions? That is the central question we will examine in this chapter and throughout the book. Our goal is to understand why the answer is yes.<\/p>\n Whatever hopes you have for your future, you almost certainly want to be successful in whatever career you choose. But what does success mean to you, and how will you know you have achieved it? Will you measure it in terms of wealth, status, power, or recognition? Before blindly embarking on a quest to achieve these goals, which society considers important, stop and think about what a successful career means to you personally. Does it include a blameless reputation, colleagues whose good opinion you value, and the ability to think well of yourself? How might ethics guide your decision-making and contribute to your achievement of these goals?<\/p>\n Learning Objectives<\/strong><\/p>\n By the end of this section, you will be able to:<\/p>\n \u2022 Describe the role of ethics in a business environment Whenever you think about the behavior you expect of yourself in your personal life and as a professional, you are engaging in a philosophical dialogue with yourself to establish the standards of behavior you choose to uphold, that is, your ethics. You may decide you should always tell the truth to family, friends, customers, clients, and shareholders, and if that is not possible, you should have very good reasons why you cannot. You may also choose never to defraud or mislead your business partners. You may decide, as well, that while you are pursuing profit in your business, you will not require that all the money on the table come your way. Instead, there might be some to go around to those who are important because they are affected one way or another by your business. These are your stakeholders.<\/p>\n Clients, customers, suppliers, investors, retailers, employees, the media, the government, members of the surrounding community, competitors, and even the environment are stakeholders in a business; that is, they are individuals and entities affected by the business\u2019s decisions. Stakeholders typically value a leadership team that chooses the ethical way to accomplish the company\u2019s legitimate for-profit goals. For example, Patagonia expresses its commitment to environmentalism via its \u201c1% for the Planet\u201d program, which donates 1 percent of all sales to help save the planet. In part because of this program, Patagonia has become a market leader in outdoor gear.<\/p>\n","protected":false},"excerpt":{"rendered":"Introduction<\/h3>\n
Being a Professional of Integrity<\/h3>\n
\n\u2022 Explain what it means to be a professional of integrity
\n\u2022 Distinguish between ethical and legal responsibilities
\n\u2022 Describe three approaches for examining the ethical nature of a decision<\/p>\nActing with Integrity<\/h4>\n