business ethics

Business Ethics: 

Business Ethics Shawn Robbins EMGT500 Spring 2011

Content: 

Content What is Ethics? What is Business Ethics? Applications of Ethics in Industry Ethics from Professional Organizations Conclusion

What is ethics: 

What is ethics Defined as a person’s Moral Philosophy Ethics is loosely defined as the sense of right and wrong .

What is Ethics Cont’d: 

What is Ethics Cont’d Ethics is a branch if Philosophy that addresses questions of: Right and Wrong Good and Evil Virtue and Vice

What is business ethics: 

What is business ethics Business Ethics simply takes the philosophy and applies it to business.

Business Ethics Cont’d: 

Business Ethics Cont’d Business Ethics is also known as Corporate Ethics Examines ethical problems that arise in the business environment Began to grow dramatically in the 1980’s and 1990’s

Industry specific ethics: 

Industry specific ethics Defense Industry Medical Insurance Industry Engineering Industry

Defense Industry: 

Defense Industry There are two primary ethical concerns in the Defense Industry. Conflicts of Interest Stringent Accounting Subcontract Administrator • Cross Charging Mischarging • •

Medical Insurance Industry: 

Medical Insurance Industry Consumer Fraud • Cheating the system Claims Administrator Fraud • Defrauding the insurance companies

Engineering Industry: 

Engineering Industry Tacoma Narrows Bridge Runaway Toyota Products

Professional Organizations : 

Professional Organizations There are numerous professional organizations can help to promote ethics in their respective industries. Some of these organizations offer free business ethics seminars to its members.

Defense Industry Organization: 

Defense Industry Organization Defense Industry Initiative (DII) DII Member Companies, called Signatories, adhere to a written code of business conduct and agree to train employees within their organizations as to their personal responsibilities under the code

DII Organizations: 

DII Organizations 3M Aerojet Afognak Native Corporation AgustaWestland North America, Inc. Alcoa, Inc. Allfast Fastening Systems, Inc. Alliant Techsystems, Inc. American Ordnance AT&T Babcock & Wilcox BAE Systems Boeing Company Booz Allen Hamilton CFM International Chugach Alaska Corporation Ciber , Inc. CNA Corporation Concurrent Technologies Corporation Crane Co. CSC Cubic Corporation Curtiss-Wright Corporation DataPath , Inc. Day & Zimmermann, Inc. DRS Technologies, Inc. DS2 (Defense Support Services LLC) DynCorp International LLC EADS North America Earl Industries, LLC EarthTech (Tyco International) EG&G Technical Esterline Corporation General Atomics General Dynamics General Electric Georgia Tech Research Institute Goodrich Corporation Harris Corporation HealthNet Federal Services, LLC Herley Industries, Inc. Honeywell International, Inc. Humana Military Health Services Huntington Ingalls Industries IAP Worldwide Services IBM Corporation Immix Group Institute for Defense Analyses (IDA) ITT Industries Kellogg Brown & Root L-3 Communications Corporation Leader Communications, Inc. (LCI) LMI Aerospace, Inc. Lockheed Martin Corporation MER Corporation Micronetics Natel Engineering Company National Air Cargo National Technical Systems Northrop Grumman Corporation Omega Technologies Orbital Sciences Corporation Parker Hannifin Corporation PGBA, LLC Protective Products Enterprises, Inc. Proteus Technologies QinetiQ Raytheon Company Rockwell Collins, Inc. SAIC SELEX SENTEL Corporation Sequa Corporation Serco Siemens Government Services, Inc. SkyLink USA Sodexo Federal Services, Inc. Solers , Inc. Standard Aero TASC, Inc. Teledyne Technologies Incorporated Textron Inc. Thales USA, Inc. Timken Company TriWest Healthcare Alliance Ultralife Corporation United Launch Alliance United Space Alliance (Boeing Company) United Technologies Corporation University of Dayton Research Institute URS Corporation Verizon Williams International Wisconsin Physicians Service Insurance Corporation Woodward Governor Company Frequency Electronics, Inc.

Insurance Industry Organizations: 

Insurance Industry Organizations National Association of Insurance and Financial Advisors (NAIFA) The Association’s mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members .

Insurance Industry Organizations: 

Insurance Industry Organizations American Institute for Chartered Property and Casualty insurance Underwriters (AICPCU)

Engineering Industry Organizations: 

Engineering Industry Organizations ASME has grown through the decades to include more than 120,000 members in over 150 countries worldwide. ASME embraces integrity and ethical conduct.

Engineering Industry Organizations: 

Engineering Industry Organizations Institute of Electrical and Electronics Engineers IEEE IEEE has an Ethics and Member Conduct Committee.

Engineering Industry Organizations: 

Engineering Industry Organizations We, the members of the IEEE, in recognition of the importance of our technologies in affecting the quality of life throughout the world, and in accepting a personal obligation to our profession, its members and the communities we serve, do hereby commit ourselves to the highest ethical and professional conduct and agree: •to accept responsibility in making decisions consistent with the safety, health, and welfare of the public, and •to disclose promptly factors that might endanger the public or the environment; •to avoid real or perceived conflicts of interest whenever possible, and to disclose them to affected parties when they do exist; •to be honest and realistic in stating claims or estimates based on available data; •to reject bribery in all its forms; •to improve the understanding of technology; its appropriate application, and potential consequences; •to maintain and improve our technical competence and to undertake technological tasks for others only if qualified by training or experience, or after full disclosure of pertinent limitations; •to seek, accept, and offer honest criticism of technical work, to acknowledge and correct errors, and to credit properly the contributions of others; •to treat fairly all persons regardless of such factors as race, religion, gender, disability, age, or national origin; •to avoid injuring others, their property, reputation, or employment by false or malicious action; •to assist colleagues and co-workers in their professional development and to support them in following this code of ethics. IEEE’s Code of Ethics

Conclusion: 

Conclusion The main point to make here is that the definition of Ethics is subjective. If you have second thoughts or believe that something may look bad to an outsider, it probably is unethical.

References: 

References Business Ethics. (n.d.). In Wikipedia . Retrieved July 26, 2011, from http://en.wikipedia.org/wiki/Business Ethics DII. Retrieved July 26, 2011, http://www.dii.org/ IEEE . Retrieved July 26,2011, from http://www.ieee.org/about/ethics/index.html National Association of Independent Fee Appraisers. (2011). Home page. Retrieved July 14, 2011, from http://www.naifa.com/?page=NAIFA_Code_Ethics The Institutes . (2011). Home page. Retrieved July 14, 2011, from http://www.aicpcu.org/comet /learning_modules/cpcu_ethics.html