Chapter
       22
      Internalizing Ethics
       in the Conduct of 
           Business
                        Learning Outcomes
    At the end of this chapter, you should be able to:
     Identify  and  discuss  the  common  ethical  dilemmas  faced  by  business 
       people
      Identify and explain the three levels of decision-making
      Differentiate between ethical management and management of ethics
      Explain the concept of role in ethics
     Outline the role of leadership to inculcate an ethical culture in a business 
       organisation
     Discuss the role of managers as economic actors, company leaders and 
       community leaders
   Business Ethics                              All Rights Reserved
   © Oxford Fajar Sdn. Bhd. (008974-T), 2014           1– 3
                    Learning Outcomes (continued)
      Compare and contrast between compliance-based code of ethics and 
         integrity-based  code  of  ethics  and  recognize  their  application  to 
         inculcate an ethical corporate culture
      Discuss the importance of integrating economic, legal and moral       
         dimensions to make effective and fair business decisions
      Identify and explain the three check questions that one has to ask and 
         self-assess when faced with an ethical dilemma
      Discuss the role of religion in resolving ethical issues in business
    Business Ethics                                             All Rights Reserved
    © Oxford Fajar Sdn. Bhd. (008974-T), 2014                            1– 4
                       Common Ethical Dilemmas 
                        Faced by Business People 
                            Balancing the economic 
                            Balancing the economic 
                           character of organizations 
                           character of organizations 
                            with justice and fairness
                            with justice and fairness
                                               Responsibility to 
               Conflict of interest            Responsibility to 
               Conflict of interest             stakeholders
                                                stakeholders
                                              Level of openness
                Personality traits            Level of openness
                Personality traits
    Business Ethics                                          All Rights Reserved
    © Oxford Fajar Sdn. Bhd. (008974-T), 2014                          1– 5
                                The Three Levels 
                              of Decision-Making
             Individual                         Business System
                               Organization
     Identifying the appropriate level for a decision is important, 
     because an ethical problem may have no solution on the 
     level it is approached.
    Business Ethics                                          All Rights Reserved
    © Oxford Fajar Sdn. Bhd. (008974-T), 2014                          1– 6