Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 5, Problem 1CRQ
What is the difference between ethics and
Expert Solution & Answer
Summary Introduction
To determine:
The difference between ethics and business ethics.
Introduction:
The basic difference between ethics and business ethics is that ethics, in general, comprises all moral values, while business ethics only involve what is related to business.
Explanation of Solution
The difference between ethics and business ethics is explained as below:
Ethics essentially involves people and the way people treat others. Ethics means the set of rules or principles that the organization should follow.The options with people, decision-making process, the moral principles and values that govern the behavior of people regarding what is right and wrong are also part of ethics.
Moreover, ethics could be defined as what a person believes to be right and it varies from person to person as there are influences by their experiences, culture, and belief, also being transparent and telling the truth can be some of the examples of ethics.
Business ethics refers to a law of behavior that organizations are required to ensure while doing business.Through business ethics, a pattern is set for the industry to control the behavior of industry. This assists them in differentiating between the right and wrong part of the businesses.
The business ethics that are made in the organization make the organization work formally and it helps in doing those activity that genuinely make a positive outcome. They are based on the character of human intention.Therefore, it is very important to motivate them and balance the activity of an organization. That is why, ethics depend on the importance of the situation, the place and time.
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Chapter 5 Solutions
Principles of Management
Ch. 5.1 - What individual and organizational ethical issues...Ch. 5.1 - What are some signs of unethical activities you...Ch. 5.2 - What are terminal and instrumental values?Ch. 5.2 - What are ways organizations can employ values to...Ch. 5.3 - What are some ethical guidelines individuals and...Ch. 5.3 - Can being aware of the actual values you use to...Ch. 5.4 - How does Aaron Feuerstein exemplify servant...Ch. 5.4 - If Feuerstein had decided to use the insurance...Ch. 5.4 - What role does leadership play in how ethically...Ch. 5.4 - Explain what stewardship is and the role of...
Ch. 5.5 - In what ways do law and compliance complement...Ch. 5.5 - How does stakeholder management differ from...Ch. 5.6 - How do sustainable business practices benefit...Ch. 5.6 - Differentiate the roles compliance and CSR...Ch. 5.7 - What ways can and do some MNEs demonstrate social...Ch. 5.7 - What are some specific ethical business practices...Ch. 5.8 - What are some emerging national and global issues...Ch. 5 - What is the difference between ethics and business...Ch. 5 - What is normative ethics?Ch. 5 - Why are values an important element of ethics for...Ch. 5 - What are the differences between instrumental and...Ch. 5 - Can an individual be ethical without using ethical...Ch. 5 - Identify major classical ethical principles.Ch. 5 - Differentiate between the principle of rights and...Ch. 5 - Why is leadership important for ethical conduct in...Ch. 5 - Identify two types of ethical leaders and the...Ch. 5 - What is the difference between ethics and...Ch. 5 - What is CSR, and why is it important?Ch. 5 - What is stakeholder management?Ch. 5 - What is the difference between stakeholders and...Ch. 5 - What is different about ethics in a global or...Ch. 5 - What are some global issues that corporations must...Ch. 5 - Identify some contemporary ethical and compliance...Ch. 5 - What is a moral entrepreneur?Ch. 5 - Does ethics pay? Explain.Ch. 5 - After reading this chapter, what are major...Ch. 5 - What were the sources and causes the problems in...Ch. 5 - Who were some of the primary decision makers that...Ch. 5 - What were these individuals motives and...Ch. 5 - How were the illegal and fraudulent activities...Ch. 5 - Who was to blame?Ch. 5 - What unethical activities occurred before the...Ch. 5 - What would you have done, if anything, had you...Ch. 5 - How would a stakeholder approach, if taken by the...
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