Unit 7: Why Ethics Still Matter
When taking an ethics course, you need to understand that "just because it's right, doesn't make it legal; and just because it's legal, doesn't make it right". This is an important sentiment to keep in mind because, in business, there are bound to be challenges we must face that fall into one category, "right", or the other, "legal", but which type is ethical? Understanding the context of ethics, its foundation, and its history will make it easier to understand your role in ethical conduct and how to resolve ethical dilemmas in the future. In this unit, you will learn how ethics evolve in a business environment, commit to an ethical view, become an ethical professional, and how you can make an ethical difference in the world.
Completing this unit should take you approximately 3 hours.
Upon successful completion of this unit, you will be able to:
- reflect on and critically examine personal/individual values;
- identify ethical challenges relating to entrepreneurial start-ups; and
- discuss the role of the founder in instilling an ethical culture.
- reflect on and critically examine personal/individual values;
7.1: Business Ethics in an Evolving Environment
Not only does the world seem to have shrunk, but the twenty-first-century pace of change seems to have sped up time itself. As the world becomes smaller and faster and companies adapt their practices to fit new conditions, the core of business ethics that guides corporate behavior remains the same, directed, as always, by shared values and morals as well as legal restraints. What happens when these are ignored?
7.2: Committing to an Ethical View
Professionalism' is the conduct, aims, or qualities that characterize or mark a profession or professional person. It implies there is a quality of craft or service. Ethical professionals work for companies whose values align with their own. How do you evaluate a company to see whether it is a good occupational fit and one that will allow you to live your ethical values every day?
7.3: Becoming an Ethical Professional
Professionalism' is the conduct, aims, or qualities that characterize or mark a profession or professional person. It implies there is a quality of craft or service. Ethical professionals work for companies whose values align with their own. How do you evaluate a company to see whether it is a good occupational fit and one that will allow you to live your ethical values every day?
7.4: Making a Difference in the Business World
On what will you base your professional identity? Do you believe an employer's enlightened self-interest is enough to ensure the ethical behavior of employers and employees? Or do you embrace "the critical importance of individual ethical choice in making our organizations, our professions, and our culture serve all of humanity"? The values we choose to honor are the essence of ourselves, and we carry them with us wherever we live, work, and play. As we noted, the career you choose should reflect your values.
7.5: Do Ethics Still Matter?
Understand ethics and compliance and how the definitions translate to corporations. A commitment to shared values, rather than a culture based on distrust of employees, encourages employees to aspire to success. The speaker elaborates on the importance of ethics, which she deems as a necessary component of a business. Take notes on the numerous case studies mentioned where she emphasizes that the means of obtaining financial gain ethically should never be trivialized or overlooked.
Unit 7 Assessment
- Receive a grade
Take this assessment to see how well you understood this unit.
- This assessment does not count towards your grade. It is just for practice!
- You will see the correct answers when you submit your answers. Use this to help you study for the final exam!
- You can take this assessment as many times as you want, whenever you want.