Fundamentals of Management, 8th ed



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ethical behavior

Behavior that

conforms to

generally accepted

social norms

unethical behavior

Behavior that does

not conform to

generally accepted

social norms

managerial ethics

Standards of

behavior that guide

individual managers

in their work

Chapter 2: The Environments of Organizations and Managers

4 3

Copyright 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).

Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.



managers might say that paying only the legal minimum is the right business practice,

while others might be inclined to pay a wage more attuned to local conditions (some-

times called a living wage).

Numerous ethical issues stem from how employees treat the organization, especially

in regard to conflicts of interest, secrecy and confidentiality, and honesty. A conflict of

interest occurs when an employee’s decision potentially benefits the individual to the

possible detriment of the organization. To guard against such practices, most companies

have policies that forbid their buyers from accepting gifts from suppliers. Divulging com-

pany secrets is also clearly unethical. Employees who work for businesses in highly

competitive industries—electronics, software, and fashion apparel, for example—might

be tempted to sell information about their companies’ plans to competitors. A third

area of concern is honesty in general. Relatively common problems in this area include

activities such as using a business telephone to make personal long-distance calls, visiting

and updating personal Facebook sites during work hours, stealing supplies, and padding

expense accounts. Although most employees are inherently honest, organizations must

nevertheless be vigilant to avoid problems with such behaviors.

Managerial ethics also comes into play in the relationship between the firm and its

employees with other economic agents. The primary agents of interest include custo-

mers, competitors, stockholders, suppliers, dealers, and unions. The behaviors between

the organization and these agents that may be subject to ethical ambiguity include adver-

tising and promotions, financial disclosures, ordering and purchasing, shipping and

solicitations, bargaining and negotiation, and other business relationships.

For example, state pharmacy boards are charged with overseeing prescription drug

safety in the United States. All told, almost 300 pharmacists serve on such boards. It

was recently reported that 72 of these pharmacists were employees of major drugstore

chains and supermarket pharmacies. These arrangements, while legal, could create the

potential for conflicts of interest because they might give the pharmacists’ employers

influence over the regulatory system designed to monitor their own business practices.

13

Another recent area of concern involves financial reporting by various e-commerce



firms. Because of the complexities inherent in valuing the assets and revenues of these

firms, some of them have been very aggressive in presenting their financial position in

a highly positive light. And at least a few firms have substantially overstated their earn-

ings projections to entice more investment. Moreover, some of today’s accounting scan-

dals in traditional firms have stemmed from similarly questionable practices. For

example, Diamond Foods, a distributor of nuts and popcorn snacks, has had to restate

its earnings twice in the last two years after announcing it had improperly accounted for

$80 million in payments to almond growers.

14

Hilton Hotels hired two senior executives away from rival Starwood Hotels. It was



later found that the executives took eight boxes of electronic and paper documents;

much of the material in the boxes related to plans and details related to how Starwood

had started its popular chain of W hotels. When Hilton announced plans to launch such

a brand itself, to be called Denizen Hotels, officials at Starwood became suspicious and

investigated. When they learned about the theft of confidential materials, which Hilton

subsequently returned, Starwood filed a lawsuit against Hilton.

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