David Lemuel E. Garcia                                                                                        

10564721      BS-IM

Business Ethics: A Global and Managerial Perspective

By: David J. Fritzsche

Chapter 1: Ethical Problems in Business

“Some problems and issues do not involve moral relationships and thus do not contain ethical dimensions.”

            - In a business, it doesn’t always mean that it involves moral relationships among the people around it, sometimes; problems arise with different decision makings and the company’s globalization. Ethical dimensions also arise when these problems involve the moral relationships and the issue with regards to things that involve the conscience as part of the decision.

Summary of the Chapter:

            - It opened up with the ethical issues and problems that can be encountered on a certain company and the real life examples regarding these problems and then it turned to the developing a typology of ethical issues faced by the business world.

Chapter 2: The Importance of Ethics in Business

“A salesperson earns a customer’s trust by being dependable, honest, competent, customer-oriented, and likeable.”

            - Being ethical and doing the right thing in a business would help a company grow and have a great image amongst its customers thus giving the company an advantage over their own customers. Having the right doctrine would mean that you would have the right practice and that would be very importantly applied to your business operations.

Summary of the Chapter:

            - Chapter two focuses on the importance of ethics in business, with an emphasis on the role of trust in the aspect of doing business. Ethics in action and what are the actions that you need to do in order to imply the benefit of ethics in your business.              

Chapter 3: Moral Standards

“Moral standards… provide the basis for deciding whether an act is right or wrong. It can be used to defend the moral worth of an act, or they can be used to expose the moral bankruptcy of a decision.”                  

            - In business, moral standards would be very important in decision making. The standards that you set would help your company achieve goals and do decisions that can be justifiable by the moral standards and that it can serve as a guide to those who abide by the standards.

Summary of the Chapter:

            - In this chapter, a discussion about integrated social contracts theory and moral standards that can be used to evaluate the ethical dimension of decisions was given emphasis. The principles of Consequentialist and Nonconsequentialist are also part of this chapter.