William Shakespeare wrote, “The evil that men do lives after them; the good is oft interred wih their bones.” Business people are oft not remembered for their outstanding ethics, but rather reviled for their (04) ethical lapses. An ethical lapse is defined as behavior that fails to comply with accepted ethical standards.

Required 

1. Give an example of an ethical lapse that a prominent figure (business person, politician, or athlete)

has made and how he or she will be remembered for it.

2. One way to avoid an ethical lapse is to carefully contemplate whether a decision might violate accepted ethical conduct. What are the guidelines for ethical decision making (consider Exhibit 1.6)?

How might those guidelines help us?

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Exhibit 1.6 Guidelines for Ethical Decision Making Identify ethical concerns Analyze options Make ethical decision Use personal ethics to recognize an ethical concern. Consider all good and bad consequences. Choose best option after weighing all consequences.