Ethical Decisions in Corporate: Confidentiality and Conflicts, Lecture notes of Management Accounting

Download Ethical Decisions in Corporate: Confidentiality and Conflicts and more Lecture notes Management Accounting in PDF only on Docsity! C716 Describe two common ethical decisions that reflect corporate ethics and responsibilities that employees can face while working in a corporate setting. Ethical Decisions in a Corporate Setting Employees in a corporate setting often face ethical decisions that reflect the company's ethics and responsibilities. Here are two common scenarios: 1. Handling Confidential Information Employees often have access to sensitive information about the company, its clients, or its employees. The ethical decision here is how to handle this information.  Ethical Dilemma: Should the employee share this information if it could potentially benefit them personally or professionally, even if it's against company policy?  Corporate Responsibility: Companies have a responsibility to protect sensitive information. They often have strict policies about who can access this information and how it can be used. 2. Dealing with Conflicts of Interest Conflicts of interest occur when an employee's personal or financial interests could potentially interfere with their ability to make unbiased decisions for the company.  Ethical Dilemma: Should the employee prioritize their personal interests over the company's interests?  Corporate Responsibility: Companies have a responsibility to ensure that business decisions are made in the best interest of the company. They often have policies in place to manage conflicts of interest. Ethical Decision Ethical Dilemma Corporate Responsibility Handling Confidential Information Should the employee share this information if it could potentially benefit them personally or professionally, even if it's against company policy? Companies have a responsibility to protect sensitive information. Dealing with Conflicts of Interest Should the employee prioritize their personal interests over the company's interests? Companies have a responsibility to ensure that business decisions are made in the best interest of the company. In both scenarios, the ethical decision involves choosing between personal gain and adhering to the company's ethical guidelines and responsibilities. It's important for employees to understand the potential consequences of these decisions, both for themselves and for the company.