Identifying Ethical Issues

Key Takeaways

  • When you enter the business world, you'll find yourself in situations in which you'll have to choose the appropriate behavior.
  • You'll need to know how to distinguish a bribe from an acceptable gift.
  • You'll encounter situations that give rise to a conflict of interest – situations in which you'll have to choose between taking action that promotes your personal interest and action that favors the interest of others.
  • Sometimes you'll be required to choose between loyalty to your employer and loyalty to a friend or family member.
  • In business, as in all aspects of your life, you should act with honesty and integrity.
  • At some point in your career, you might become aware of wrongdoing on the part of others and will have to decide whether to report the incident and become a whistle-blower – an individual who exposes illegal or unethical behavior in an organization.

  • Despite all the good arguments in favor of doing the right thing, some businesspeople still act unethically (at least at times). Sometimes they use one of the following rationalizations to justify their conduct:

    1. The behavior isn't really illegal or immoral.
    2. The action is in everyone's best interests.
    3. No one will find out what I've done.
    4. The company will condone my action and protect me.

Back to '5.5: Business Ethics'