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lesson 8 - Business Ethics [Compatibility Mode]

The document discusses the importance of ethics in international business and trade, defining ethics as the principles that govern individual and group behavior. It highlights the significance of ethics on personal, societal, professional, and global levels, emphasizing the role of ethical behavior in promoting trust, justice, and sustainability. Additionally, it outlines types of ethics, core ethical principles, challenges faced in ethical decision-making, and the impact of ethics on everyday life.

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Jean Albacite
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11 views20 pages

lesson 8 - Business Ethics [Compatibility Mode]

The document discusses the importance of ethics in international business and trade, defining ethics as the principles that govern individual and group behavior. It highlights the significance of ethics on personal, societal, professional, and global levels, emphasizing the role of ethical behavior in promoting trust, justice, and sustainability. Additionally, it outlines types of ethics, core ethical principles, challenges faced in ethical decision-making, and the impact of ethics on everyday life.

Uploaded by

Jean Albacite
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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e i u

c h
a
s t
IBT-6

ETHICS IN INTERNATIONAL
BUSINESS AND TRADE
Definition of Ethics:

Ethics is the branch of Ethics involves the


philosophy with moral principles of right and
principles and values wrong that guide an
that govern individual individual's behavior. It
and group behavior. encompasses values,
Essentially, it's about morals, and standards
understanding what is that differentiate
right or wrong, and between acceptable
making decision that and unacceptable
align with these conduct.
principles
Significance:
Personal Significance
Guides Behaviour:
Ethics help individuals make choices that align with
their values, leading to a sense of integrity and self-respect.

Promotes Well-being:
Ethical behaviour fosters trust and mutual respect,
contributing to personal and relational well-being.

Moral Development:
Engaging with ethical principles helps individuals grow in their
understanding of right and wrong, shaping their character and
decision-making.
Significance:
Societal Significance:
Social Harmony:
Ethics create a framework for acceptable behavior, reduci
ng conflict and promoting cooperation within
communities.

Justice and Fairness:


Ethical principles underpin legal systems and social policies,
striving to ensure fairness and justice for all members of society.

Trust and Stability:


Ethical conduct in social interactions builds trust,
essential for stable and functioning societies.
Significance:
Professional Significance:
Standards of Practice:
Ethics guide professional behavior, ensuring that practitio
ners adhere to standards of competence and integrity.

Corporate Responsibility:
Businesses that operate ethically contribute positively to the comm
unity, environment, and economy, fostering sustainable growth.

Reputation and Trust:


Ethical business practices build a positive reputation and trust
with customers, employees, and stakeholders, crucial for long-
term success.
Significance:
Global Significance:
Human Rights:
Ethics play a crucial role in advocating for and protecting
human rights globally, ensuring dignity and equality for all
individuals.

Environmental Sustainability:
Ethical considerations drive efforts to protect the environment,
promoting sustainable practices that benefit future generations.

International Relations:
Ethics guide interactions between nations, fostering peace,
cooperation, and mutual respect in the global community.
NORMATIVE
ETHICS
TYPES OF ETHICS
APPLIED
ETHICS

META-ETHICS
TYPES OF ETHICS

Normative Ethics: Focuses on


developing moral standards
APPLIED that regulate right and wrong
conduct. For example, it
NORMATIVE
ETHICS ETHICS addresses questions like "What
should I do?"
TYPES OF ETHICS

APPLED ETHICS
Applied Ethics: Deals with the
application of moral principles
APPLIED to specific situations such as
business ethics, medical ethics,
APPLIED
ETHICS ETHICS and environmental ethics. It's
about making ethical decisions
in real-world scenarios.
TYPES OF ETHICS

Meta-Ethics: Explores the


origin and meaning of ethical
principles. It's more about what
ethics mean and the nature of
META-ETHICS ethical statements and
judgments.
Core Ethical Principles

Integrity: Being honest and having


strong moral principles. Integrity
builds trust and reliability
Core Ethical Principles

Transparency: Being open and clear


about actions and decisions. It
prevents misunderstandings and
fosters trust
Core Ethical Principles

Fairness: Ensuring impartiality and


justice. Fairness promotes equality
and prevents discrimination
Core Ethical Principles

Accountability: Taking responsibility


for one’s actions. Accountability
ensures that individuals and
organizations are answerable for their
actions and decisions.
Ethical Theories

UTILITARIANISM

DEONTOLOGY START

VERTUE ETHICS

ETHICAL RELATIVISM
Important of ethics in business

BUILDING TRUST ENSURING ENHANCING PROMOTING


WITH COMPLIANCE REPUTATION LONG-TERM
STAKEHOLDER SUCCESS
Ethics in everyday life

• Personal Integrity: Making honest choices, even when no one is


watching. This builds self-respect and trust from others.

• Ethical Behavior in Relationships and Communities:


Treating others with respect, fairness,
and kindness.

• Impact on Society: Ethical individuals


contribute to a more just and equitable
society, reducing conflict and
building stronger communities.
Challenges of ethics

Navigating grey areas

Pressure to mee goals

Cultural Differences

Conflict of interest

Conflicts of Cultural Differences: Pressure to Meet Navigating Gray


Interest: Situations Different cultures have Goals: High-pressure Areas: Not all
where personal varying ethical environments can situations are black
interests clash with standards, making it tempt individuals to and white; ethical
professional duties challenging to navigate cut ethical corners. decisions often
can lead to ethical global business involve complex and
dilemmas practices. nuanced judgments.
Thank you
Assignment in one whole
yellow paper

Johnson & Johnson


Tylenol Crisis
Search online about Johnson & Johnson Tylenol
Crisis.
1. Provide an overview of the crisis
2. Ethical response of J&J
3. Outcome
4. >> what is your personal opinion on this crisis

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