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Jul 27, 2023 · If you’re a current or prospective leader concerned about navigating difficult situations, here's an overview of business ethics, why they're important, and how to ensure ethical behavior in your organization.
We asked 13 seasoned business owners, from founders to CEOs, to share their experiences in making ethical decisions. From addressing employee dishonesty to protecting user data privacy, these leaders offer valuable insights into the ethical dilemmas they've faced….
- Johnson & Johnson’s Tylenol Poisonings. A classic case of ethical leadership in business is “the Chicago Tylenol poisonings.” On September 9, 1982, a Chicago-area 12-year-old girl woke up with a cold.
- JetBlue’s Shutdown. On Valentine’s Day, 2007, at the John F. Kennedy International Airport, JetBlue Airlines sent nine planes from the gate to the runway during a snowstorm, hoping conditions would rapidly improve—but it had no such luck.
- Starbucks’s Racial Bias Incident. If one of your employees made a critical decision based on racial bias, how would you respond? That was the question Kevin Johnson, then-CEO of coffee shop chain Starbucks, had to answer in April 2014.
- The Muse Sticking Up for Employees. Ethical dilemmas often aren’t public scandals—even quiet, internal decisions can have enormous impacts. Kathryn Minshew, CEO and co-founder of The Muse, faced one such scenario in the early days of growing the online career platform.
May 9, 2022 · Business ethics refer to an essential system of policies and practices that uphold a corporation’s legal and moral responsibilities. At their core, they determine what is ‘right and wrong’ for a company and its employees and inform a wider code of conduct.
Business Ethics. Moral principles that govern the conduct of businesses. Written by CFI Team. Read Time 3 minutes. Over 2 million + professionals use CFI to learn accounting, financial analysis, modeling and more. Unlock the essentials of corporate finance with our free resources and get an exclusive sneak peek at the first module of each course.
Aug 21, 2024 · In this article, we define business ethics, explain why they matter, list some types of business ethics and provide examples of them in action. Key takeaways: Business ethics are policies that guide the behavior of corporate entities, especially regarding controversial subjects.
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The authors suggest four ways to make being good as easy as possible: Connect ethical principles to strategies and policies, keep ethics top of mind, reward ethical behavior through a variety...