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Module 4: Business Ethics

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Lesson Summary

Business Ethics


Ethics are moral principles-they are a system that defines right and wrong and provides a guiding philosophy for every decision you make.



The consequences of unethical behavior can range from embarrassment to suspension, loss of job, or even jail time, depending on the act.



An ethical business not only abides by laws and appropriate regulations, it operates honestly, competes fairly, provides a reasonable environment for its employees.



Corporate social responsibility (CSR), focuses on companies operating in a way that balances the interests of all stakeholders including employees, customers, investors, vendors, the community, society, and any other parties that have a stake in the company.

Ethical Behavior in Sales



What the salesperson says and does is a direct reflection of the organization and its ethics.



There are four considerations to uphold your ethics:



Evaluate the situation

Don’t jump to conclusions

Identify the criteria

Seek counsel



Company values and personal values are important because your values motivate you to work.


When you work in sales, you are selling yourself, when customers buy from you, they are investing in you, every action you take affects your reputation.

Policies, Practices, and Cultures



How does a company provides guidance to all employees about what behavior it expects from them. All the policies of a company are included in its employee handbook.



There are four types of conflicts of interest that you may encounter in your career:

family interests
gifts
private use of employer property
moonlighting



A non-compete agreement prevents you from taking a job with a competitor after you’ve quit or been fired.



A non-disclosure or confidentiality policy requires you to protect your former employer’s trade secrets.



Whistle-blowing, is the act of publicly exposing the misconduct of a company or organization.