Chapter 7 Lesson 3: Ethical Management

Ensures that the highest standards of conduct are observed in a company’s relationships with everyone who is a part of the business is affected by the business’ activities

• Ethics

• Business practices-

• Ethical business practices

• Mission Statement

Important principles that will guide decisions and actions in the company.

• Values

• Ethical business practices

• Ethics

• Core values

Principles of conduct governing an individual or a group.

• Ethical business practices

• Ethics

• Core values

• Mission statement

Describes the reason a business exists and what it wants to accomplish.

• Core values

• Ethics

• Ethical business practices

• Mission statements

Two parts to ethical behavior

• Demonstration and Resolution

• Actions and Results

• Mission and Ethics

• Behavior and Change

Which is not an ethical behavior standards?

• If the actions and results become public, it will not

  embarrass the company.

• It does not harm some while benefiting others.

• It is consistent with company values and policies.

• It is unlawful.

Managers are not responsible for the success or failures

of a business.

• True

• False

Working under time

pressures or facing a major problem cause some

people to act unethically.

• True

• False

It is a manager’s duty to create an atmosphere in

which all employees know they are expected to

act ethically.

• True

• False

All unethical activities illegal

• True

• False