Managerial ethics, are standards of conduct or moral judgement used by managers of organizations in caring out their business. Since, according to the utilitarians, the business of morality is the maximi. The parties to a merger transaction must ensure that the principles of the code of conduct are not overlooked in merger and sale transactions. Business ethics and corporate governance it is thus that man, who can subsist only in society, was fitted by nature to that situation for which he was made. You know, i am pretty sure the admiral went to a game with the ceo of acme last year. This chapter analyzes the topic of acquisitions and mergers from the perspectives of utilitarian ethics and rights theory, and discusses the ethical issues involving hostile takeovers and the. One of the bestknown examples of professional ethics is the hippocratic oath sworn by doctors to do no harm to those they are treating. Business ethics is a broad field because there are so many different topics that fall under its umbrella. Types of business ethics about types of business ethics in. Werhane is professor of philosophy at loyola university of chicago. What drives the need for companies to consider mergers and acquisitions.
They can be horizontal deals, in which competitors are combined. Kamat department of chemistry and biochemistry and radiation laboratory university of notre dame. Ethics, according to vsp rao 2004 is defined ethics as. This is where the field of ethics is broken down into descriptive ethics, normative ethics and. The ontology of ethics is about valuebearing things or properties, i. Some overlooked ethical issues in acquisitions and mergers. And we would see calls coming through the ethics hotline three, four and five years ago, that would talk about the us versus them type of attitude. A different otherworldly approach to the metaphysical status of morality is divine. This unit provides an introduction to the study of ethics and a brief overview of some of the main branches of philosophical thought about ethics. Ethical dilemmas during mergers, acquisitions and takeovers.
It may take time, but a strong tone at the top eventually makes it to the bottom. Ethics is the systematic philosophical study of morality. Overlooked ethical considerations in mergers and acquisitions. A persons ethics or morals consists of those rules, habits andor standards of behavior or character that the individual uses to determine the right choices, the virtuous alternatives, and the righteous behaviours. An empirical study article pdf available in journal of business ethics 691 january 1992. They differ, but because they address different problems, it is possible to see each as contributing to an overall understanding of ethics as integrity.
Its tough enough to ensure a consistent corporate culture within one large company. Cultural issues in mergers and acquisitions deloitte. Sometimes personal loyalties are so strong that ethical standards may not be applied when acting towards a particular individual. Types of rules religious commandments 42 in old egypt laws jurisprudence will be introduced later. Download the code of ethics and professional conduct sample above as a pdf document. One has to do with the rights of employees affected in mergers and acquisitions and the second concerns the responsibilities of shareholders during these activities. An ethics can be expressed and practiced putting the emphasis on what a person should do in order to be ethical. Rule ethics utility ethics virtue ethics other forms of ethics.
Pdf three general theories of ethics and the integrative role of. As a strategic hr director, you have been asked to identify ethical and legal issues involved in a merger and develop a plan to resolve these issues. People use moral reasoning to make moral judgments or to discover right actions. The meaning of academic honesty and how to uphold it. Two ethical issues in mergers and acquisitions patricia h. For christian ethics, i suggest, chapter three is about ecclesial ethics, ethics for the church.
Ethics is categorized according to three types of inquiry or study. Her publications include philosophical issues in art, ethical issues in business. Theories of ethics center for future consciousness. So i think you are okay as long as you do not take anything else from acme this year. However, attempts have been made to classify them into certain categories. They di er, but b ecause they address di eren t problems, it is p ossible to see eac h as con tributing to an o v erall understanding of ethics as in tegrit y. Types of mergers, acquisitions, and corporate restructurings mergers and acquisitions are usually, but not always, part of an expansion strategy. Pdf this paper consists of a discussion of the three general.
In nursing, many situations have serious implications and the decisions which should be taken ought to be considered from the point of view of ethics. An empirical study article pdf available in journal of business ethics 691 january 1992 with 1,788 reads how we measure reads. Hostile takeover activity has dissipated in recent years, for a variety of reasons. Can you combine a code of conduct and code of ethics. Whilst they are technically different documents, employees will have. Jul 04, 2018 as in every aspect of life, the business also requires ethics in order to survive. My theory postulates that we each have a selfconcept. In the area of morals and ethics, people cannot exercise moral judgment without being given a choice. She is one of the founding members of the society for business ethics. What are the different types of ethics in business. Pdf the role of business ethics in merger and acquisition. Mergers and acquisitions with a reference to ethical, social and human resource. Identify specific legal and ethical issues that should be considered before, during, and after the merger. Desjardins j 2006 business, ethics and the environment.
Ethics is the study of the general nature of morals and of the specific moral judgments or choices to be made by a person. What types of resources are needed to complete a transaction. The companies were from different markets, each with a history of doing things a certain way. Ethics arise not simply from mans creation but from human nature itself making it a natural body of laws from which mans laws.
According to utilitarian thinking, it is possible to sum the different. Views through a new lens preface the system of ethics guiding the discussion, the dialogue, in these pages, is based upon the analysis and clarification of concepts which i believe is a central concern of philosophy. The definition of business ethics by lynn fountain, cpa, cgma, fountain grc llc e thics has its place in nearly all professional disciplines. Two ethical issues in mergers and acquisitions springerlink. When the mgm grand inc and mirage resorts inc merged in the mid2000s, executives on both sides had some significant ethics and compliance challenges on their hands. Universal ethics is for anyone and subversive ethics is for the oppressed. In some situations, one wonders on what our reflections should be based and how we should. The view of the importance of ethics in the leading positions is stressed in many publications. The three types of ethics include descriptive ethics, normative ethics and metaethics, explains lander universitys philosophy department. Types of management ethics about types of management ethics. But whats the difference between ethics and morality. It derives a great deal from alasdair macintyre, much of.
The organisational world is still shaking from the impact of individual and organisational actions that are contrary to the openended community standards of ethics. Ethics, on the other hand, involves the study of those standards and judgments which people create. Guide to ethics in acquisitions association for library. The definition of business ethics thompson rivers university. Written from the perspective of an academic library, the guide to ethics in acquisitions can easily be used by those working in other types of libraries, such as school, public, or special. Each type has a place in the functionality of a society. The authors feel that many of the principles in the codes of conduct apply in mergers and acquisitions of accounting practices. As well as introducing the central ideas that relate to environmental and development ethics and how these two areas of ethical study interare related, this unit shows why ethics as a discipline can. With the recent rash of mergers and friendly and unfriendly takeovers, two important issues have not received sufficient attention as questionable ethical practices. Managing corporate citizenship and sustainability in the age of globalization, 2nd edn.
Archi b carroll, notes that three major levels of moral or ethical, judgement characterize managers. The merger mania of the 1980s put top corporate management on the defensive as predators sought takeover targets. The role of business ethics in merger and acquisition success. This process is experimental and the keywords may be updated as the learning algorithm improves. Ever since we were kids, our parents were teaching us to distinguish right from wrong. Here, an action is considered morally good because of some trait of the action itself, not the end result.
The medical profession, legal profession, accounting profession and countless others maintain individual codes of conduct that guide the manner in which those pro fessionals should behave. Also, employees can interpret culture in different ways. Mergers and acquisitions with a reference to ethical, social. Deontological ethics deontological ethics place emphasis on the relationship between duty and the morality of our actions. Conversely, an ethics can put the emphasis on what a person shouldn. To integrate and perhaps compare data and concepts that are different in nature. Definition of ethics 1 the discipline of dealing with what is good and bad, with moral duty and obligation a set of moral principles or values the principle of conduct governing an individual or group websters ninth new collegiate dictionary.
Lifecentered ethics, and the human future in space pdf. Ethics or moral philosophy is a branch of philosophy that involves systematizing, defending. One of the most practical applications for the study of philosophy is in the field of ethics. Corporate mergers and acquisitions are undertaken with the belief that the combined companies will be able to grow more rapidly and be competitively stronger than they were as independent companies. Nov 11, 2011 ipcc important notes on business ethics. It is really impossible to classify the business ethics into certain definite types. Reasons for merger there are numerous reasons for companies to merge or acquire.
My department, internal audit, runs the companys ethics hotline. Although employees are drastically affected by a merger or an. The management teams of both companies face ethical dilemmas prior to beginning the merger, as negotiations proceed and. There are many types of mergers and acquisitions that redefine the business world. One has to do with the rights of employees affected in mergers and acquisitions and the second concerns the.
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