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Summary Business Ethics
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This is a document where everything is noted for the exam of term 1 of the Business Ethics course.
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1 Introduction1.1 What is business ethics?
Business ethics is the study of appropriate
business policies and practices regarding
potentially controversial subjects.
Business ethics is the study of business
situations, activities and decisions where
issues of right and wrong are addressed.
1.2 Oxymoron
A lot of people might argue that this is an
oxymoron, because nowadays business and
ethics don’t seem to be believed to go together.
Oxymoron = something that is seemingly
contradictory.
1.3 Organization business ethics
An organization business ethics is its practice of
addressing issues of right and wrong in business
situations, activities and decisions.
1.3.1 Business (organizations) issues
Paygap between men and women
Sustainability issues/ environmental
impact
Lobbying (in the bad way)
Advertising campaigns that goes
wrong!
o H&M scandal with the “monkey
of the jungle” hoodie.
Racism
Fiduciary responsibilities (trust with
your money) (WHO do you trust with
your money and in what are they
investing with your money?)(where
does my money sleep?)
Corporate governance
Discrimination (age, race, gender,
etc.)
Bribery
Social responsibility
, 1.4 Mencius (372-289 B.C.)
Chinese philosopher people are ethical by
instinct.
Storytime: a business person was late and
running on the street with a lot of stress, but at
the same time there was a little child also
walking on the street but not paying attention
where it is walking, just very distracted as kids
are. The child almost falls into a pit and almost
dies, if it weren’t for the fact that the business
man saw him going towards the pit, and his
instinct told him to go help the child, and saved
him.
Moral of the story: people are ethical by instinct.
The empathy we have for our peers and fellow
humans is what makes us different from other
living creatures.
1.5 Business ethics and laws
We will focus on the part that is called the grey
area, the area where the law ends but ethics
continue.
1.6 Ethics = rational consensus
This means that you can only come to good
ethics when you agree on things.
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