What is Business Ethics?
Compromises organizational principles, values, and norms that may originate from individuals, organizational statements, or from the legal system that primarily guide individual and group behavior in business.
a person's personal philosophies about what is right or wrong
specific and pervasive (weit verbreitet) boundaries for behavior that should not be violated
enduring beliefs and ideals that are socially enforced
Consumers' Bill of Rights (JFK)
right to safety, right to be informed, right to choose, right to be heard
Corporate social responsibility
an organization's obligation to maximize its positive impact on stakeholders and minimize its negative impact
Defense Industry Initiative on Business Ethics and Conduct
to guide corporate support for ethical conduct
Federal Sentencing Guidelines for Organizations (FSGO)
set the tone for organizational ethical compliance programs
rewarding organizations for taking action to prevent misconduct