Business Ethics and the Legal Environment of Business

by Study for Us on August 10, 2011

Business Ethics

It has to do with people’s feelings of what is right or wrong, what is honest or dishonest, fair or unfair, legal or illegal.

 

It has to do with several factors such as, religion beliefs, habits, customs, culture, education etc.

 

Ethics consists of the standards of behavior our society accepts.

 

What is ethical or unethical is hard to define. Something that in one country or culture is ethical in another is considered unethical.

 

Ethics in Society

1. Communication and Information Dissemination

  • Encourage credibility, dignity and honesty providing truthful information.
  • Identify the source of information before using it

2. Standards of Conduct

  • Obey laws, whether international, national or local.
  • Not to be involved in any illegal or unethical act.

3. Confidentiality/Disclosure

  • Respect the confidentiality and right-to-privacy of all individuals, employers, clients and customers.
  • Confidential information not to be used for personal benefit

4. Professionalism

  • Support and apply IABC’s standards for ethical conduct in all professional activities.
  • Realize that their actions reflect on their organizations.

Ethics in Business

The Code of Ethics & Business Conduct

  • Honesty
  • Integrity
  • Respect
  • Trust
  • Responsibility
  • Citizenship

Countries and Professions with High Ethics Standards

Countries

  • U.S.A,Canada,SwitzerlandandGermany

Industries

  • Banking
  • Pharmaceutical & Cosmetics

Professions

  • Clerical
  • Teachers
  • Engineers
  • Accountants

 Contemporary Ethical Issues

  • Abortion.
  • Euthanasia.
  • Eating Pork for Muslims Vs Christians.
  • The Cow is worshiped inIndia.
  • InSaudi Arabiawomen are not allowed to drive a car, or even sit in the front of a car.
  • In Cyprus there is a regulation that government officials can accept a gift less than £100.

 

What are Attitudes?

Attitudes are what people believe and think about a specific topic.

Attitudes are the people’s evaluations about specific problems or issues, and may differ from issue to issue.

Attitudes Characteristics

1. Personal – age, sex, social and economical status

2. Cultural – lifestyle of each country or region

3. Educational – the level of education in each public

4. Familial – people’s roots

5. Religious – Catholic, Muslims, Buddhists

6. Social class – position in society, social status.

7. Race- ethnicity, blacks and whites, African Americans, Latinos, Asians,

 

Cognitive Dissonance

  • It states that individuals tend to avoid information that is different to their own beliefs.
  • Whereas, people tend to seek out information that are similar with their own attitudes.

 

 

Legal Environment and Business

  • Consumer Protection laws,
  • Environmental laws
  • Public interest
  • Copyright and Trademarks laws
  • Insider trading law
  • Disclosure law
  • Privacy law
  • Insider trading law
  • Internet law

 

 Law and Business

  • The First Amendment.
  • Insider Trading
  • Disclosure law
  • Privacy law
  • Copyright law
  • Internet law
  • Ethics Law

 

The First Amendment

The First Amendment is the first law of the constitution that guarantees freedom of speech and the press in our free society.

Do not overdo it:

  • Libels (written lies)
  • Slanders (oral lies)

 

Insider Trading

Should know the laws that govern in the industry.

  • PR in a nonprofit organization The laws of donors and charity
  • Chemical organization – laws concerning the protection of the environment.

 

Disclosure Law

The SEC Securities and Exchange Commission has disclosure requirements for all practitioners.

 

  • The SEC stems from the Securities Act of l933 and the Securities
  • Exchange Act of l934, which was aimed at protecting the public from abuses in the issuance and sale of securities.

 

Privacy Law 

  • Privacy is protected by law
  • Each individual has its own rights and privacy.
  • Many people of organizations accuse media for libel and no evidence.

 

 

Copyright Law

Copyright law provides basic automatic protection for writers, whether a manuscript is registered with the Copyright Office or even published.

 

  • Literary works
  • Musical works
  • Dramatic works
  • Pantomimes and choreographic works
  • Pictorial, graphic, or sculptural works
  • Motion pictures
  • Sound recordings

 

Fair Play

News reporting, teaching, scholarship or research, use of copyrighted material constitutes fair use and is open to interpretation by the courts.

 

Ethic Law

Ethics law is one of the primary values of the

Public Relations practice

 

  • Ethics
  • Truth
  • Credibility

 

The Internet Law

  • Censorship and the issues of free speech
  • Intellectual Property.
  • Cyber squatting.
  • E-fraud.

E.g.

 

 

{ 1 comment… read it below or add one }

1 list of presidents January 1, 2012 at 1:46 am

need now

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