Learning Objectives
5 objectives- Understand foundational concepts and theories of business ethics.
- Develop skills for ethical decision-making considering multiple stakeholders.
- Analyze the role of corporate social responsibility and legal frameworks in business.
- Evaluate ethical issues across various business functions including marketing and leadership.
- Apply ethical principles to real-world business scenarios through case study analysis.
Content Outline
PreviewUnit 1123: Business Ethics and Legal Frameworks
1. Introduction to Business Ethics
- Definition of Business Ethics
- Importance of Ethics in the Corporate World
- Ethical Theories Underpinning Business Decisions
- Utilitarianism
- Deontology
- Virtue Ethics
- Justice Theory
2. Ethical Decision Making
- Identifying Ethical Dilemmas in Business
- Steps in Ethical Decision-Making Process
- Recognizing the ethical issue
- Gathering information
- Evaluating alternatives
- Making the decision
- Implementing and reflecting
- Considering Stakeholders' Perspectives
- Employees
- Customers
- Shareholders
- Community
3. Corporate Social Responsibility (CSR)
- Definition and Evolution of CSR
- Dimensions of CSR
- Economic Responsibility
- Legal Responsibility
- Ethical Responsibility
- Philanthropic Responsibility
- Impact of CSR on Society and Environment
- CSR Strategies and Reporting
4. Legal Framework for Business
- Overview of Legal Foundations in Business
- Business Structures
- Sole Proprietorship
- Partnership
- Corporation
- Limited Liability Company (LLC)
- Contracts and Agreements
- Elements of a Contract
- Breach and Remedies
- Intellectual Property Rights
- Patents, Trademarks, Copyrights
- Employment Law Basics
- Employee Rights
- Workplace Safety
- Other Legal Considerations
- Consumer Protection Laws
- Environmental Regulations
5. Ethical Leadership
- Definition and Importance of Ethical Leadership
- Traits of Ethical Leaders
- Integrity
- Accountability
- Fairness
- Transparency
- Ethical Leadership Models
- Transformational Leadership
- Servant Leadership
- Influence of Ethical Leadership on Organizational Culture and Success
6. Ethical Issues in Marketing and Advertising
- Truth in Advertising
- Targeting Vulnerable Populations
- Product Safety and Quality
- Use and Protection of Consumer Data
- Ethical Challenges in Digital Marketing
7. Compliance and Business Ethics
- Importance of Compliance Programs
- Role of Whistleblowing in Ethics Enforcement
- Ethical Audits and Monitoring
- Consequences of Non-Compliance
8. Global Business Ethics
- Ethical Challenges in International Business
- Cultural Differences and Ethical Relativism
- Corruption and Bribery
- Human Rights Considerations
- Sustainability and Environmental Responsibility
- Strategies for Managing Global Ethical Issues
9. Ethical Decision Making Case Studies
- Analyzing Real-World Ethical Dilemmas
- Application of Ethical Theories and Legal Frameworks
- Discussion of Alternative Solutions
- Reflection on Outcomes and Lessons Learned
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