business ethics pdf notes

maximises personal gain – irrespective of whether such action is ethical or not; or if it has an adverse - Originates from Roman system of law it suggests people always ought to act on the basis of self-interest. o Some appeals require leave of the court  Takeovers necessarily concentrate ownership of the company, thus they provide acquirers with the  “Management is about running the business. and takeovers 338 0 obj <> endobj was decided yesterday  Act utilitarianism: in all situations one ought to perform that act that leads to the greatest good for the  Literal Rule: The rule directs judges to give words in statutes their literal or exact meaning.  Bicamerial – two houses: upper house and lower house. Definitions o Reference is not essential to find volume – date is placed in round brackets, Ratio Decidendi and obiter dictum Egoism Australia makes a recommendation about what would happen if the matter proceeded to court.  Common law damages available as of right while equitable remedies only available when damages not 0000014924 00000 n - Appellate Jurisdiction: Hears some appeals from  Correcting market failure increases the community’s general welfare and is thus in the Search Search 0000005435 00000 n It refers to businesses reporting not just on their  Counter arguments: is there any such thing as a public interest? - Source of law is both legislation from parliament and judge-made law through cases - There is a federal Acts Interpretation Act (“AIA”) and most states have a AIA. - Mediation is where a third party assists the disputing parties in reaching consensus by keeping Individuals at this primary stage of maturity in ethical decisions will conduct themselves in an ethical In most instances the onus  Executive function: queen, and governor general/state governors. o completes about 600 criminal and 300 civil cases per year - The Industrial division; - Appellate jurisdiction: DC judge may hear - Original jurisdiction: the power to hear a matter for the first time determine whether the prosecution has sufficient evidence to indicate that the person charged could be The actions of individuals at this stage are motivated to conform to the norms and rules of the greater - In a criminal case, the prosecution must prove their case beyond a reasonable doubt. Redspondent: a person against whom an appeal is brought. Obiter dictum: a saying by the way – observation by a judge on a matter of law which is not essential to the Whilst individuals at this stage of maturity respect and follow laws, they will evaluate and question the - State Government and the Commonwealth Government  Highest court in the state – consists of the Trial Division and the Court of Appeal (superior courts)  Stress the ease in which ‘regulatory failure’ and ‘regulatory capture’ occur. - Originates from English system of law 0000015932 00000 n o the market, Theories of regulation will be to gain benefit themselves. A Federal law overrides a state law to the extent of any inconsistency: s109 of the Constitution.  can also come from: At this large stage of maturity, individuals make decisions based entirely on ethical principles. hެWmo�6���%A��IE �y��:Ic�n��b3�VYr%����w��؞�����D��=ϝ����"�tD���k�=#�`ӜH.�D��$��r�D�RhM5a�����E"¹�)�uF�V�j7('�3~Ԡ#���?഍,B���"���6�o�ص��O߼�6�ה����E�Rjp@G��W���,N�!%lNjl����sG8����e�ݸ��5Z�G��#4����u���p��8�v+�9�hf�/��A�E�b�׍�/(�9�V��:�Uq�`�u��^����~�Zqܕ�%#�7,�W$��Ng�*���p�n��*�;�I~�v����S7�iBk�ʱ���v��*�[.  implement collective goals. some sort of ethical or moral high ground (‘bad’ law). 0000050638 00000 n  Principle 3 – Promote ethical and responsible decision-making - In a civil case, that is on the balance of probabilities. LEVEL ONE: PRE-CONVENTIONAL such as copyright, trade marks, taxation and bankruptcy). The development of voluntary, written codes of conduct has been a practice for many years.  Appellate jurisdiction: the Court of Appeal (3 or 5 judges) hears appeals from the District Court, the parties affected  March = plaintiff, Stramere = defendant - The onus (or burden) of proof is on the person who has to prove their case. /R0 gs shareholders, stakeholders and economic growth.  law just one means  Principle 1 – Lay solid foundations for management and oversight Scribd is the world's largest social reading and publishing site. (ASX) - Hears approx 8000 criminal and 1500 civil matters a year. upper). Either restrictive (preventive), mandatory Business Ethics Wayne Norman “Business ethics” is a concise, but in many ways misleading, label for an interdis-ciplinary field covering a vast range of normative issues in the world of commerce. Summary note: individuals at this secondary stage are increasingly concerned with conforming and Business ethics  control of corporate activities either by government agencies or by private actors or a combination of the - civil matters where the amount claimed is less than $50,000. %PDF-1.3 %���� o There are 6 judges who are Appeal judges 0000011489 00000 n Each level of the  one needs to discern between their own self interest and that of others. - Prescriptive (Normative) approach: aims to determine what ought to be done, rather than what is Municipal council, in 0000000896 00000 n  Negotiation - Appellate jurisdiction: the HC can hear appeals from State Supreme courts and the Full Court of the May be binding if it comes from a court in the same hierarch and on a higher level. Originally operated alongside the common law and intended as a supplement to it,  Only binds courts in same hierarchy, Persuasive precedent  Eg.  Following precedent = question should be resolved in a certain way today because a similar question 0000035189 00000 n It follows that if the perceived risk of detection is low and/or the guided by company policies, codes of conduct, and the law. - A role of the courts is to apply the law, and to interpret the meaning of statutes. resolve the dispute etc. If so, the accused will be sent to a higher court for trial by a judge and jury. Appellant: the party appealing the decision – may either be the plaintiff or the defendant from when the case  Persons must act for the sake of obligation not merely in accordance with obligation, Corporate Social Responsibility (CSR)  Each report has its own abbreviation - Regulatory failure is where the collective costs of regulation outweigh the benefits  Also known as: precedent or case law - Courts tend to operate in an inquisitorial manner, Rule of Law - No person must be punished except for a breach of the law.  Arbitration  If you a guilty, choose a jury AND if you are innocent, choose a judge - Ethics requires reference to external sources (objective) in order to justify actions. standards of conduct enforceable through sanction  Principle 5 – Make timely and balanced disclosure  A company, or corporation, is considered at law to be a separate legal entity.  Set of rules, regulating peoples (corporations, government, individuals) interactions with each other which set - People should act in a way that maximises the good (utility) of society. right means /Form Do  What makes a legal system effective? 0000016601 00000 n  Law is limited because: o it is simply not possible to predict and therefore outlaw all situations that give rise to bad conduct.  Ethical egoism: supreme principle is to promote one’s well-being above all others – normative theory as Courts  Can be further subdivided on the basis of what is seen to be in the public interest: Common Law: part of English law, developed form the common custom of the country as administered by 0000040174 00000 n Efficiency  Capital availability and cost is a function of both the debt and equity markets 0000010442 00000 n citations as the letter “R”. - Residual powers: Anything else goes to the states Federal Court of Australia personal (subjective) morals were considered, acts such as terrorism might be ethically justified because 344 0 obj <> endobj xref 344 30 0000000016 00000 n o Known: Publication of the law (accessible) Supreme Court (trial division) and many tribunals. Goods only the Australian government should provide  Mode of procedure is accusatorial and emphasis is on remedies, Criminal Law Plantiff: one that brings a civil action against another - Conciliation is similar except that the 3rd party may also offer advice/suggestions on how to $200,000. o Courts have an original and appellate jurisdiction  Principle 6 – Respect the rights of shareholders appropriateness of the laws and seek change where they are inconsistent with ethical principles. company are set and achieved, how risk is monitored and assessed, and how performance is optimized. o Courts have a criminal and civil jurisdiction Utilitarianism - Section 15AA(1) of the Cth AIA says that courts must use the purposive approach to interpret statutes