Ethics: An individuals personal beliefs about whether a behavior,a action or decision is right or worng.
There are two
I. Ethical behavior.
II. Unethical behavior.
Ethical behavior: Behavior that conforms to generally accepted social norms.
Unethical behavior: Behavior that does not conform to generally accepted social norms.
The formation of individual ethics:
I. Family influences.
III. Life experience.
IV. Personal values and morals .
V. Situational factors.
Managerial ethics: standards of behavior that guide individual managers in their work.
There are three component of managerial ethics:
1) Treads the organization.
I. Hiring and firing
II. Wages and working conditions
III. Privacy and respect
2) How employees that the organization:
I. Conflict & interect
III. Aonesty & expense accounts
3) How employees and the organization treat other economic agents: