Business Ethics

BUSINESS ETHICS
BUSINESS ETHICS
Business
Ethics
Workbook
From Grace Hills Business Ethics course within

Grace
Hills
Apartment
Management
Center
From
Grace
Hills Business
Ethics Learning
course within
Copyright 2014Grace
~ (866)
~ contact@gracehill.com
~ gracehill.com
HillsGRACEHILL
Apartment Management
Learning Center
Copyright 2014 ~ (866) GRACEHILL ~ contact@gracehill.com ~ gracehill.com
Page 2
BUSINESS ETHICS
Section 1: Getting Started

Welcome to Grace Hills Business Ethics course!
Ethics are an important business tool. A strong ethical foundation can help you make
better decisions, increase customer satisfaction, and even lead to peace of mind.
At Grace Hill, were here to help make your work experience as rewarding as it can be
by empowering you with knowledge and skills. Thank you for taking the time to invest
in yourself with education. Youll be glad you did!
The Business Ethics Workbook is designed to enhance your learning experience
and to provide you with an easy-to-reference job aid when you return to work. Please
take a moment to download and print the workbook now. After printing the workbook,
simply fill in the blanks as you complete each section of the course.
You can access the workbook and any other document referenced within the course
by clicking the Resources button on the lower navigation bar.
Please keep in mind that the contents of this course are for educational purposes only
and are not intended as legal advice. Grace Hill strongly recommends that you consult
with your own legal counsel for specific legal advice with regard to company and
community policies.
Our help desk is available from Monday through Friday, 8:30am 6:00pm Eastern
Standard time. Please call toll free (866) GRACEHILL or email us at
Contact@gracehill.com should you need assistance.
The Grace Hill Gang

Grace Hills Apartment Management Learning Center
Page 3
BUSINESS ETHICS
Section 2: Understanding Ethics

What are Ethics?
Ethics describe someones standards of __________ and __________. How
people conduct themselves in societywhether they help or harm, consider how their
actions impact others or only look out for #1is a matter of ____________.
Fortunately, understanding all of the philosophical debates surrounding ethics is not
required to apply ethical standards to your daily life. In fact, you already rely on a
________________ set of ethics to guide your decisions and conduct.
Your personal system of ethics comes from many sources, including culture,
family, ___________________, religion, _______________________, and role
models.
What are Business Ethics?
Ethics in business require diligence and hard work. Because individual employees
ethics may _____, it is imperative that companies clearly establish a code of
____________ for employees to follow.
An organizations code of ethics will likely include standards of ______________,
compliance procedures, and __________________ procedures.
Standards of Conduct
Standards of conduct encompass many different topics and will be customized to
match a companys mission and values. Common issues include: conflicts of interest,
proper use of ____________, personal responsibility, confidentiality, privacy, fair
dealing, ________________, and __________.
Compliance Procedures
Compliance procedures are another important component of a code of ethics.
Standards of conduct let employees know what the ________________________ are
and how to align their ________________ with the standards. Compliance procedures determine if these standards are being met.
Reporting Procedures
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BUSINESS ETHICS
Reporting procedures clearly state that any employee may report
____________________ of the code of ethics, and __________ ________________
shares responsibility for upholding the companys values.
In business, its critical that all employees understand potential ______________
________________ and the ethical ______________________________ process. A
companys code of ethics is designed as a roadmap to help guide employees
through this process.
Balancing Personal & Business Ethics
Your personal ethics will influence your decisions at home and at work, but
________________ ethics should ultimately be responsible for your
__________________ ___________________.
There may be times when you are tempted to bend a rule or respond to a maintenance
request out of turn to show extra special customer service to a prospect or resident.
From your perspective, youre merely being nice and responsive.
From your communitys perspective, however, such actions can lead to
______________ __________________ of customers and ________
______________ trouble. Sticking with your companys ________________ will keep
both you and your community on the right side of the law.
NOTES:
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BUSINESS ETHICS
Section 3: Making Ethical Decisions

Key Strategies
Ethical Principles
Many times, ethical principles consist of a list of virtues:
Patience
Generosity
________________
Humility
Respect
___________________________
________________
Diligence
________________
Commitment
Sometimes, ethical principles may more closely resemble a list of dos and
donts.
For example:
Do no ________.
Dont place __________ on otherstake responsibility for your actions.
Follow the __________.
Treat others as you would want to be treated.
What other ethical dos and donts come to mind? Take a moment to write them down:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Your companys code of ethics likely includes a set of dos and donts specific to your
organizations values. This code of ethics is very important because it is much
easier to have a code in place ____________ facing an ______________
______________ or temptation.
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BUSINESS ETHICS
Disciplined Decision-Making
Understanding ethical principles will help hone your reactions; however, there are
times when its good to slow the ____________________________ process down.
Conscious, disciplined decisions will rarely steer you wrong.
If youre unsure of whether or not a particular action is ethical, try asking
yourself these questions:
Is it __________?
Who is ________________ by the
decision?
How will the decision make

me feel?
Are there any alternatives?
What are the long-term consequences of

the decision?
Conscience
Your conscience is an invaluable resource to knowing when to slow down the decisionmaking process. If you find yourself wondering, Is this wrong? the wise thing
to do is to stop and ______________ the situation. Evaluate your
________________ and the ________________________ using the five questions.
Ask a colleague for their opinion. Consult your supervisor and/or the companys code
of ethics.
Do what it takes to be confident that your actions are not
causing harm to others.
Common Issues
In the business world, ethical issues abound. You and your community likely have
ethical obligations to:
__________________, employees, and
co-workers
_________________________ & investors
____________________
The community at large
_____________________
Employers
An ethical organization is able to balance the rights of employees with the rights of the
employer. One of the most important responsibilities for employers is to provide
employees with a ________ working environment.
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BUSINESS ETHICS
This means that ____________________ is an ethical issue for employers.
Preventing harassment and addressing incidents quickly when they do occur provides
a good working environment and helps maintain an employers reputation.
Balance comes into play when considering employees right to privacy in addition to
their right to safety. Some common business practices, such as drug testing,
background checks, and monitoring email or social media activity, are undertaken in
the interest of workplace ____________, often at the expense of individual privacy.
Shareholders & Investors
Companies have an obligation to pay back investors and shareholders. Being
____________________, then, becomes an ethical issue.
The most common ethical dilemma in this category is maintaining honest
____________________ practices. A look at Wall Streets history reveals plenty of
scandals involving dishonesty and unscrupulous behavior, as well as the long-lasting
and often devastating consequences to a companys reputation and bottom line.
Customers
Customers want to deal with ethical businesses. They expect honesty, fair dealing,
and respect in every interaction. The quickest way to ________________ customers
is to break their __________.
__________ to or misleading customers should be avoided at all costs.
Honesty should be a part of all communications, whether in person, over the
phone, in marketing, or on the Internet.
Customers & Community at Large
Everyone makes mistakes. When this happens at your community, your customers
want you to take ___________________________ for your ______________. No one
appreciates the blame game. Accept responsibility, __________________ if
necessary, and make amends if at all possible.
Vendors
Relationships with vendors should also be based on strong ethical principles. Vendors
and contractors should be accorded the same level of respect and courtesy as anyone
else. One common issue involving vendors is ________________ ____
______________. A conflict of interest occurs when a relationship or interest runs the
risk of impairing an employees ability to make objective business decisions.
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BUSINESS ETHICS
Conflict of interest can be a tricky subject, because even the appearance of
conflict is enough to cause problems.
Conflict of Interest
Circle one:
True or False - Hiring a relative without going through the interview process
could be considered a conflict of interest.
Circle one:
True or False - Accepting tips and gifts from vendors is encouraged.
Most unethical actions fall into one of three categories: __________,

________________, or harming.
Avoiding the Slippery Slope
Behaving unethically is a slippery slope. It often begins with small temptations, like
taking post-its from the supply closet, sneaking out 30 minutes early, or waiving a fee
for a resident you particularly like. Before long, you can find yourself in uncharted
territory, doing things you regret and risking your career and reputation in the process.
The truth is, its far easier to ______________ unethical behavior than to deal with the
aftermath of an ethical lapse. Stay away from the slippery slope!
To help avoid making unethical choices, be on guard for the following thought
processes that often lead to unethical behavior:
1. ______________________. The easiest thing isnt necessarily the right
thing. Often, what makes it easier for one person means more
inconvenience, stress, and work for someone else.
2. ______________ over people. All companies want to be profitable. Profits
mean secure jobs for employees and continuation of the business itself.
However, if money is the only factor behind decisions, people suffer.

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BUSINESS ETHICS
3. Rationalization. Rationalizations is particularly dangerous because it can
be mistaken for reasoning. Dont make this mistake! Rationalization is often
an effort to silence the conscience. . . It twists the __________ in an attempt
to justify a ________ ________________.
There will always be obstacles to overcome and temptations to act unethically. In
addition to being on guard for unethical thought processes of your own, there may be
times when you must also resist the negative influence of others.
If others are encouraging you to act unethically, dont be intimidated. You can stay
true to your principles and your companys standards.
What should you do if you witness unethical behavior? Depending on the behavior,
you may feel comfortable discussing it with the individual directly. Its possible they
dont understand the consequences of their action or arent familiar with company
policy.
If your attempts at discussion are rebuffed, the behavior continues regardless, or you
feel unsafe confronting the individual, you may report the behavior to your supervisor
or Human Resources department.
It can be nerve-wracking to be the one to speak up. Many people are reluctant to rock
the boat, dont want to be labeled as troublemakers, or worry they may face retaliation.
However, an ethical __________________ is in everyones best interest, so it is up to
________________ to address unethical behavior!
The first thing a company needs is a code of ____________. Employees cant uphold
the standards if no standards exist!
________________ ________________ also plays a crucial role. Awareness and
understanding of a companys expectations and standards are required for an ethics
programs success.
Lastly, an ____________ __________ will help evaluate the effectiveness of the
program. Surveys, interviews, and focus groups are just a few ways an ethics auditor
or committee can check on the ethical health of an organization.
All employees share responsibility for maintaining an ethical workplace.

Page 10
BUSINESS ETHICS
You have completed our Business Ethics course. Best of luck to you on the
Knowledge Challenge, and be sure to print out a copy of your Completion Certificate
for your records.
We hope to see you again for another property management course in the Apartment
Management Learning Center. Please call on us if we may be of assistance.
Sincerely,
The Grace Hill Gang

Phone: (866) GRACEHILL
Fax: (706) 312-2705
Web: http://www.gracehill.com
Email: contact@gracehill.com


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BUSINESS ETHICS

From Grace Hills Business Ethics course within

Section 1: Getting Started

The Grace Hill Gang

From Grace Hills Business Ethics course within

Section 2: Understanding Ethics

Section 3: Making Ethical Decisions

How will the decision make

What are the long-term consequences of

Most unethical actions fall into one of three categories: __________,

From Grace Hills Business Ethics course within

From Grace Hills Business Ethics course within

The Grace Hill Gang

From Grace Hills Business Ethics course within

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