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Gavin Walton
- August 6, 2024
Hey there, future business leaders! If you are to plunge into study.com Business 318: Management Ethics, you are in for a learning experience. This course is not just for the sake of getting that much-needed college credit; this is for those willing to delve into the wonders of business ethics. By the end of the course, you will learn how ethics are a part of corporate culture, and leadership in various organizations, and are part of the decision-making process—factors every good manager needs to know.
But still, it is better to be realistic. Some may think that business ethics is just another one of those subjects that only people who like to think they’re doing the world a favor with their high-level thinking are into, and while it may contain elements of self-righteousness, it is far from it. They do not simply come out having learned that there is the right thing to do and the wrong thing, but they learn that within a corporation and particularly where resources are involved, it is possible to walk the thin line, do what is right, and also satisfy their conscience. Through this course, you will be in a position to reason, analyze and so be well placed to handle the various ethical issues that prevail in the business world making you a better and responsible leader.
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Preparing for Business 318: What’s Ahead📖
Okay, now let me tell you what you will have to immerse yourself in study.com Business 318: Management Ethics. This course presents a broad spectrum of topics that would enable you to have good grounds by which you can comprehend and relate to ethical issues in business.
Originally, you will discover Philosophy, Morality & Business Ethics. This section is all about the basics: distinctions between the concepts of ethics, morals, and values, and how best can these be applied in business scenarios. Ethical reasoning, the origin of ethical norms, and clerical value systems as well as how they impact the conduct of businesses will be explored. This foundation is very important because it forms the base of your learning throughout this course.
Then, you will progress to the FOUNDATIONS OF BUSINESS ETHICS. In this topic, you will understand the emergence of business ethics, as well as the ethical continuum. This part introduces ethical theories and principles and assists you in comprehending business decisions’ gray zones. You also will read moral issues and distinguish between ethics in the workplace and the law. These lessons are especially noteworthy because they constitute the initial stage of identifying and solving ethical problems in a business context.
Next, you will look at The Position of Ethics in Corporate Tenets. This segment of the course examines the features of corporate culture that influence its ethical climate. You will listen to what corporate culture is all about, what core values are, and how corporate ethics can be made to reflect stakeholder’s views on the same. This section is vital in learning the measures that one has to put in place so as to create an ethical culture in the organization.
As for the other necessary topics integrated throughout the course, you will come across topics such as Ethical Leadership, Ethical Decision Making in Business Management, Implementing Business Ethics, and Ethics & Corporate Social Responsibility. Each one of these sections is dependent on the previous ones, so you are left with a clear understanding of how ethics is interlinked with every functional area of business.
Please note that the concern you learn in these lessons no joke is theoretical, they are practical and will highly be assessed in the final examination. Therefore, always have your notes with you, and do not shy away from going through difficult concepts again. Hence, the aim here is to use the examination to come out on the other side as a being with higher levels of ethical sense as a business person.
A Step-by-Step Weekly Plan for Business 318 📝
To help you conquer study.com Business 318: Management Ethics, here’s a structured week-by-week study plan. Follow this guide, and you’ll be well-prepared for the proctored final exam.
Week 1: Introduction and Foundations
- Watch Lessons: Ethics, Morals & Values; Moral Code & Personal Ethics.
- Quiz Practice: Take quizzes for each lesson. Remember, you get three attempts, so aim for the highest score!
- Additional Resources:
- CrashCourse on YouTube: “What is Ethics?”
- Quizlet Flashcards on Ethics
Week 2: Deep Dive into Business Ethics
- Watch Lessons: How Philosophy & Morality Inform Ethical Behavior; Sources of Ethical Standards in Business.
- Quiz Practice: Complete quizzes and review any incorrect answers.
- Additional Resources:
- Ethics Unwrapped: “Philosophical Ethics”
- Quizlet Flashcards on Business Ethics
Week 3: Corporate Culture and Ethical Decision-Making
- Watch Lessons: Corporate Culture; Stakeholders in Business; Core Values in Business.
- Quiz Practice: Focus on high scores in these quizzes as these topics are frequently tested.
- Additional Resources:
- TED Talk: “The Power of Corporate Culture”
- Quizlet: “Corporate Culture Flashcards”
Week 4: Ethical Leadership
- Watch Lessons: Ethical Leadership; Ethical Considerations of Leaders & Managers.
- Quiz Practice: Ensure you understand these concepts well, as leadership is a key theme.
- Additional Resources:
- Leadership Ethics: “Introduction to Ethical Leadership”
- Quizlet: “Leadership Ethics Flashcards”
Week 5: Ethical Decision-Making Frameworks
- Watch Lessons: Ethical Decision Making; Frameworks for Ethical Decision Making.
- Quiz Practice: Practice quizzes and review ethical frameworks.
- Additional Resources:
- Harvard Business Review: “A Framework for Ethical Decision Making”
- Quizlet: “Decision Making Ethics Flashcards”
Week 6: Implementing Business Ethics
- Watch Lessons: Ethical Issues in HR; Business Ethics in Interviewing, Hiring & Onboarding.
- Quiz Practice: Pay attention to HR-related ethical issues.
- Additional Resources:
- SHRM: “HR Ethics”
- Quizlet: “HR Ethics Flashcards”
Week 7: Corporate Social Responsibility (CSR)
- Watch Lessons: Social Responsibility; Corporate Social Responsibility.
- Quiz Practice: These lessons are crucial for understanding the broader impact of business ethics.
- Additional Resources:
- TEDx: “The Business Case for CSR”
- Quizlet: “CSR Flashcards”
Week 8: Review and Practice Exam
- Review: Go over all lessons and quizzes. Focus on areas where you scored lower.
- Practice Exam: Take the practice exam provided by Study.com to gauge your readiness.
- Additional Resources:
- Study.com Practice Tests
By following this plan, you’ll cover all the necessary material in a structured and manageable way, ensuring you’re well-prepared for the final exam. Happy studying!
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Free and Effective Resources for Business 318 📂
To make sure you’re fully prepared for the study.com Business 318: Management Ethics course, here are some free external resources that will help you grasp the concepts more effectively:
YouTube Channels and Videos
CrashCourse: Known for its engaging and comprehensive educational videos, CrashCourse has an excellent playlist on philosophy and ethics.
TED Talks: TED offers insightful talks on various ethical topics relevant to business.
Ethics Unwrapped: This channel provides clear explanations and real-world examples of ethical principles.
- Ethics Unwrapped: “Philosophical Ethics”
- Ethics Unwrapped: “Leadership Ethics”
Quizlet Flashcards and Study Sets
Quizlet Flashcards on Ethics: Flashcards are a great way to memorize key terms and concepts.
- Quizlet: “Ethics Flashcards”
- Quizlet: “Business Ethics Flashcards”
Quizlet: Corporate Culture: Study sets that help understand the nuances of corporate culture.
- Quizlet: “Corporate Culture Flashcards”
Quizlet: CSR Flashcards: Learn about Corporate Social Responsibility through engaging flashcards.
- Quizlet: “Corporate Social Responsibility Flashcards”
Articles and Papers
Harvard Business Review: Offers insightful articles on business ethics and decision-making frameworks.
These resources will complement your study.com materials and help solidify your understanding of key concepts. Dive into these, and you’ll be well-prepared to tackle the Business 318: Management Ethics course!
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Important Topics to Master for Business 318🔑
Understanding and mastering key concepts in study.com Business 318: Management Ethics is essential for acing the final exam. Here, we break down four critical topics using various artifacts to make them easier to grasp.
- Ethics, Morals, and Values: Understanding the Differences
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Concept
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Definition
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Example
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Ethics
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Principles that guide behavior are often considered societal standards
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A company code of conduct
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Morals
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Personal beliefs about right and wrong
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An individual's belief that honesty is paramount
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Values
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Core beliefs or standards that guide behavior
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Valuing teamwork and collaboration in the workplace
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Quick Comparison:
- Ethics are societal, morals are personal, and values are core beliefs.
Example: A company’s ethical policy may prohibit accepting bribes (ethics), an employee personally believes in transparency (morals), and values integrity (values).
- Corporate Social Responsibility (CSR)
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Level
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Definition
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Example
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Economic Responsibility
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Fulfilling consumer needs with products and services
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A tech company producing affordable, reliable gadgets
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Legal Responsibility
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Adhering to laws and regulations
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A business complying with environmental laws
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Ethical Responsibility
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Conducting business in a moral manner
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Treating employees fairly and providing safe working conditions
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Philanthropic Responsibility
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Contributing to society beyond profit-making
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Donating to local charities or engaging in community service
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Quick Example:
Microsoft’s initiatives in sustainability and community engagement illustrate CSR at all four levels.
- Stakeholder vs. Shareholder
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Aspect
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Stakeholder
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Shareholder
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Definition
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Any individual or group affected by or affecting the business
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Owners of shares in a company
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Primary Concern
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Long-term sustainability, ethical practices
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Maximizing profits and shareholder value
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Examples
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Employees, customers, suppliers, community members
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Individual investors, institutional investors
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Quick Example:
A company’s decision to improve worker conditions benefits stakeholders (employees) but might initially reduce profits for shareholders.
- Ethical Leadership: Principles and Examples
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Principle
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Description
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Example
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Honesty
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Being truthful and transparent
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A CEO admitting mistakes openly
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Integrity
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Upholding moral and ethical principles consistently
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Refusing to engage in corrupt practices
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Fairness
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Treating all stakeholders justly
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Ensuring equal opportunities for all employees
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Responsibility
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Being accountable for one’s actions
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A leader taking responsibility for a failed project
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Example Leaders:
- Mahatma Gandhi: He is regarded as a man of integrity.
- Warren Buffett: known for his great sense of fairness and is also a responsible businessman.
Sticking to these concepts, you enhance your business ethics knowledge which not only lets you solve this exam but also lets you face ethical dilemmas at your workplace.
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Business 318: Frequently Asked Questions❓
Q: What is the main focus of the study.com Business 318: Management Ethics course?
A: This course is concerned with the appreciation and implementation of the ethical premise in business. This includes areas like; corporate social responsibility, decision-making for ethical inclination, and the conception of ethics for corporate culture and leadership.
Q: How is the final grade of this course determined
A: The total volume of points to be earned is 300; you can achieve these points as follows: These are the quizzes (total 100 points), three assignments totaling 100 points, and the proctored final exam which also totals 100 points. In order to receive credit for the course and pass the course towards college credit you need a total of at least 210 or 70 %.
Q: The use of quizzes in both the delivery and assessment of this course is done in what way?
A: As for the quizzes, a candidate is given three tries, and the maximum score is considered. The percentage of right answers in each quiz will be added and then divided by the total number of quizzes, it will be your grade. To progress through the course you must get at least an 80% on each quiz that is offered.
Q: What if I am not satisfied with the score I got on the final proctored exam? Can I take it again?
A: Yes, a student can take a proctored final exam for which a pass is required two times with a waiting time of 3 days after the last attempt. However, ensure that you are well-prepared throughout utilizing the study guide and the simulated tests.
Q: Is there any prerequisite to the offering of this course?
A: It is recommended that Business 108: Business Ethics be taken prior to this course, but there are not any true prerequisites.
Q: I would like to know more about the ethical principles that are discussed in this course.
A: In this course, there are several ethical principles that are dealt with, including; truth, integrity, equity, and accountability. These are some of the principles of ethical leadership in a business organization.
Q: How significant is CSR in this course?
A: CSR is considered one of the core subjects in this course. It will be a great opportunity for you to discover the tiers of CSR such as the absolute minimum that is economic and legal responsibilities as well as ethical and philanthropic responsibilities Moreover, you will be understanding how businesses could facilitate the practice of CSR properly.
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Business 318: Your Roadmap to Success📄
Tackling study.com Business 318: Management Ethics is much more than receiving college credit; it is a chance to gain knowledge and tools to deal with ethical issues in the business environment. This means that if you gain success in understanding what ethics, morals, and values are, develop a detailed insight into corporate social responsibility, and gain a hold of the ethical decision-making tools, then you will be on the right track.
Remember, consistency is key. Stick to the schedule that has been proposed for a week, use additional materials, and concentrate on the things that we’ve mentioned. Also, do not overlook the quizzes and or the assignments for they are meant to provide you with a personalized revision. And if at some point you happen to be confused, always check the Frequently Asked Questions with the answers handy nearby.
Approach this learning equally with excitement and readiness to learn. By the end of this course, you will be fully equipped not only for the final examination but also for making ethical decisions that will benefit the organization you are working for and the profession in general. Good luck with your studying and I hope the ethical compass always points you in the right direction!
