business gov and society

According to Adam Phillips, a British psychoanalyst, “Universal moral principles must be eradicated and reverence for individual and cultural uniqueness inculcated.” In other words, there should be no such thing as a universal code of ethics; people should live in, and by, their own realities. What works for one individual in the way of ethics and morals may not suit another. It’s all relative. Further, one should not be able to impose his or her moral code upon someone else. All in all, it is not possible to have a “one size fits all” code of ethics—to each his own. What do you think?

F. Ross Johnson

Barbarians at the Gate, by Bryan Burrough and John Helyar, illustrate the ideas of this module through its analysis of the events surrounding R.J. Reynolds/Nabisco during the 1980s.

According to the book, at a time when everybody was making the big dollars, the CEO of R.J. Reynolds/Nabisco, F. Ross Johnson, had every intention of making a great fortune. He decided to buy out the Nabisco shareholders and take over the company. He was in way over his head. He believed he could win over the masters of the leveraged buyout, but what followed was a down-to-the-wire battle to see who was really king of the Wall Street jungle. They may all look like polite, well-dressed businessmen, but they are really "barbarians."

Do you feel that living by our core values of Community, Excellence, Integrity, Personal Development, Respect, and Responsible Stewardship would help prevent one’s behavior leading to this hostile takeover?

During this module, you will understand how ethics and ethical reasoning affect all phases of the business climate and the problems involved. This module will explain how ethics and law are different and yet are related in the performance of corporations, especially in the global marketplace. You will see how businesses are working to improve their ethical performance and how they can implement policies and compliance with ethical behavior based on the law.

People who work in business frequently encounter and must deal with on-the-job ethical issues. Being ethical is important to the individual, the organization, and the global marketplace in today’s business climate. Managers and employees alike must learn how to recognize ethical dilemmas and know why they occur. In addition, they need to be aware of the role their own ethical character plays in their decision-making process, as well as the influences of the ethical character of others. Finally, managers and employees must be able to analyze the ethical problems they encounter at work to determine an ethical resolution to these dilemmas.

Now think about your own code of ethics and consider the following:

· How was your personal code of ethics developed and who had the most influence over you with regard to your ethics—your parents, teachers, an uncle or cousin, a friend, a pastor, rabbi, or priest, etc.?

· Are you “stuck” with your current code of ethics, or do you think that your ethical views and conduct are evolving and might change significantly in the future?

· Are your ethics in line with those of your co-workers, supervisor, or even other family members? How are they the same, and how might they differ?

· What core value do you feel is most closely aligned with the development of your personal code of ethics, and why?

Faced with increasing pressure to create an ethical and law- abiding environment at work, businesses can take tangible steps to improve their ethical performance. The organization’s culture and ethical work climate play a central role in promoting ethics at work. Ethical situations arise in all areas and functions of business, and often professional associations seek to guide managers in addressing these challenges. Corporations can also implement ethical safeguards such as ethics policies, ethics and compliance officers, internal reporting mechanisms, and employee ethics training. In addition to developing a comprehensive ethics program, corporations must of course follow the laws of the nation. This can become a complex challenge when facing different customs and regulations around the world. Although ethics and the law are not exactly the same, both are important emphases for businesses, especially when operating in the global marketplace.