IGNOU IBO 1 2008 - What is ethics ? Explain the framework for resolving ethical dilemma.

Question

What is ethics ? Explain the framework for resolving ethical dilemma.

05 Dec 2017

Answer :

Word Count : 762

Ethics is the study of decision making within a framework of a system of moral standards.

The individual conduct that is considered 'right' and "good" in the context of a governing

moral code is called ethical behaviour. It is not only compatible with law but also confirms

to a broader set of moral principles expected by all in the social group. Two basic questions-

arise in any examination of managerial ethics: (a) Can there be one fixed in oral framework

hat can provide standards to guide managers every time they face ethical decisions? and

(b) If a single set of standard is to guide managerial behaviour, which is the right set among

the conflicting definitions of good and bad behaviour? As an example of ethical issue faced

by companies, consider the case of pharmaceutical Burrough Welcome. It has come out with

a drug AZT that slows the development of AIDS. The biggest issue is its pricing. At a cost

of $3,000 for one year's dosage, many patients cannot

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