Many businesses have adopted specific tools, such ascost–benefit analysis and risk assessment,that are rooted in utilitarianphilosophy. Ethical Issues in Management (MGTS7607) Course level Postgraduate Coursework Faculty Business, Economics & Law School Business School Units 2 Duration … Human resources departments must handle a host of ethical and legal issues. If companies like Tyco, WorldCom, and Enron had strongboards of directors, is it unlikely that they would have been subsequently rackedby accounting scandals, and top managers would not have been able to view thefunds of these corporations as their own personal treasuries. 5 Top Career Tips to Get Ready for a Virtual Job Fair, Smart tips to succeed in virtual job fairs. Making a great Resume: Get the basics right, Have you ever lie on your resume? LaRue Hosmer (2008:13) argued in his well-known text, The Ethics of Management, that “an ethical principle is meaningless unless it can be applied” and explained business rules as “a method of moral analysis that . Thus it was the obligation not just of the Nigerian government,but also of the multinational firms that shipped the toxic waste, to make surethat it did no harm to residents and workers. In our society many accepted principles of right andwrong are not only universally recognizedbut also codified into law. The Human resource management section of any company is responsible for effectively and systematically managing people in the institution to achieve the desired goals. Lay’ssuccessor as CEO, Jeff Skilling, put a performance evaluation system inplacethat weeded out 15 percent of “underperformers” every six months. This occurred when managers at tobacco companies suppressed internalresearch that linked smoking to health problems, violating the right ofconsumers to accurate information about the dangers of smoking.When evidence ofthis came to light, lawyers brought class action suits against the tobacco companies,claiming they had intentionally caused harm to smokers. HRM strategies should guide employees on their workplace behavior. Should harassment or discrimination take place in the workplace, the result could be catastrophic for your organization both financially and reputationally. Aspart ofthe deal, Enron hired Mark Lay as an executivewith a three-year contract thatguaranteed him atleast $1 million in pay over that period, plus optionstopurchase about 20,000 shares of Enron. The conditions in a host country may be much inferior to those in a multinational’s home nation. The main ethical issues raised by these case studies are cultural diversity issues, discrimination and employee working conditions. Ethicaldecisions are those that are inaccordance with those accepted principles of right and wrong,whereas anunethical decision is one that violates accepted principles. False information in the case of employee qualification. new and challenging HRM issues are undergoing tremendous changes due to the improvement of, Introduction According toTransparency International, an independent nonprofit organization dedicated toexposing and fighting corruption, businesses and individuals worldwide spendsome $400 billion a year on bribes related to government procurement contractsalone!Transparency International has also measured the level ofcorruption among public officials in different countries. “Managers perform a crucial role in organizations because they interpret company policy, execute corporate directives, fulfill all of the people management needs in their particular area of responsibility, cascade senior management messages down the chain of command, and communicate employee feedback up the chain. Businessescan give potential employees psychological tests to try to discern theirethical predisposition, and they can check potential employees’ references. The exampleof Nike, given earlier, falls into this category. Final Thoughts on Addressing Ethical Issues in Business . Does chemistry workout in job interviews? senior managerswho treatcorporate funds as their own personal treasury, raiding them tosupporta lavish lifestyle; senior managers who use theircontrol over thecompensation committee of the board of directorsto award themselvesmulti-million-dollar pay increases orstock option grants that are out ofproportion with their contributionto the corporation; and. What are avoidable questions in an Interview? Ethical and Legal Issues for the Information Systems Professional. Managers may encounter moral and ethical issues in the process of performance evaluations, and must do his or her best to evaluate fairly each employee. This resulted in loss of thousands, Ethical Issues and Management This guide is a straightforward and highly practical tool designed to help leaders and managers implement comprehensive ethics management systems in their workplaces -- systems to deal with the complex, ethical issues that can occur in the day-to-day realities of … A recent example of corruption concerns theallegation that the Texas-based energy company Halliburton participated in aconsortium that made $180 million in illegal payments to government officials(that is, bribes) to secure a $4.9 billion contract to build a liquefiednatural gas plant in Nigeria. Management accounting and control play a pivotal role in the ability of compa-nies to deal with social issues and exhibit corporate ethical behaviour. An oil company considering drillinginAlaska must weigh the economic benefits of increased oil production and thecreation ofjobs against the costs of environmental degradation in a fragileecosystem. The best decisions, from a utilitarianperspective, are those that producethe greatest good for the greatest number ofpeople. Security of data –when critical issues are faced such as natural disasters, computer/server malfunction, physical theft etc, it is suggested to ensure the integrity of data. Environmental Degradation Environmentaldegradation occurs when managers take actions thatdirectly or indirectly result in pollution or other forms of environmentalharm. There are a number of different components of managing a project. The most extreme examples of such behavior occurwhen a firm establishes operations in countries that lack the workplaceregulations found in developed nations such as the United States. These values, which shapethe way business is conductedboth within and by the corporation, have an important ethicalcomponent. Project Management Issues Ethical issues in pain management Semin Oncol Nurs. This paper aims at identifying five ethical issues that exist in the field of HRM and then ranks the issues by the importance placed on, The main conflict that will arise within the workplace is when one employee becomes offended by another employees actions whether they are intentional or not. A major ethical concern facing project managers is conflict of interest. instances whereindividualmanagers award business contracts not to the most efficientsupplierbut to the one that provides the largest kickback. Amongother things, they stress the need for confidence in and respect forpeople,open communication, and concern for the individual employee. Why do some managers behave unethically? People must be managed productively. 30 There arenow some 160 ethics officers within United Technologies who are responsible formaking sure the code is adhered to. 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