Why Ethics Still Matter
What is ethics?
setting norms for ways one interacts only with coworkers
someone who is acting empathetic
standards of behavior for professional and personal lives
standards of behavior for business only
Why do businesses care about ethics?
to uphold honorable standards of behavior
to receive status and recognition
to follow fiduciary duty
to gain greater wealth and power
Which is a characteristic of successful corporate leaders?
They take a competitive, though not always fair, approach to business.
They are focused on short-term results.
They will not take pride in their company unless it is profitable.
They treat customers fairly.
Employees consider whether a company is ethical when selecting potential employers.
Most admired companies are typically the least profitable.
The prevailing current business philosophy is that the sole purpose of business is to make money for shareholders.