Join Bob McGannon for an in-depth discussion in this video Business ethics: Matters and practice, part of Business Ethics.
- When you discover a new concept,…you typically discover how that concept…can effect things, including your life, and your business.…This is true of ethics.…Your personal set of ethics are developed…as you grow and are influenced by the…people and environment around you.…Some ethical viewpoints are considered universal,…and apply to people around the world,…whereas others are of a personal nature,…and may only apply to you.…Your ethical viewpoints continue to…evolve and change over time, as you…interact with different people,…and are exposed to different situations and environments.…
But ethics, whether personal or business,…are useless if not put into practice.…Businesses around the world have suffered from…a lack of ethical behavior put into practice.…According to the Institute of Chartered Accountants…in Australia, in 2012 UBS was fined…29.7 million English pounds for failures…in its systems and controls that allowed a…former employee to conduct Britain's biggest bank fraud.…In 2010, Rio Tinto, a global mining and metals company,…
Bob also discusses ethics in relationship to specific business scenarios: working with suppliers and vendors, organizational decision making, and doing business internationally. He addresses how to handle business ethics violations and provides a checklist of items for staff to evaluate if something is ethical.
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- Understanding the purpose and intent of business ethics
- Practicing business ethics
- Working with suppliers
- Reporting ethical problems
- Messaging staff
- Leading by example
- Creating escalation procedures for ethical issues
- Handling a crisis