• Western Governors University

• FVC 1  Global Business

C7 - CORRUPTION AND ETHICS IN GLOBAL BUSINESS
Ethics refer to the guidelines by which people relate to the world
 PHILOSOPHICAL PRINCIPLES
 Imperative Principle = Do what is right – act according to absolute moral
rules.
 Utilitarian Principle = Do what produces the greatest good – good of
many outweighs the good of one.
 Generalization Argument = combine imperative and utilitarian principles
– do what is right but filter by considering the consequences.
 ETHICAL DILEMMA = occurs when one must make a choice among
alternative actions and the right choice is not absolutely clear.
 ETHICS = branch of philosophy that addresses the values pertaining to
human behavior, with specific regard to the “rightness” and “wrongness” of
actions and to the “goodness” and “badness” of the intent and results of
such actions. Related to concept of integrity = adherence to moral and
ethical principles.
 STEPS IN ETHICAL DECISION MAKING
(1) Define all facts and circumstances
(2) Identify people affected
(3) Determine alternative decisions and consequences
(4) Make the decision