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Title: Business Ethics and Social Responsibility
Description: A typed note for college level business-related note. It is very organized and clear. It includes many concepts from the business ethics which illustrate the development of individual ethics, ethical challenges, levels of development of supporting business ethics, etc, to social responsibilities which talk about the business' relationships to the general public, customers, employees, and investors, and other members of the financial community.
Description: A typed note for college level business-related note. It is very organized and clear. It includes many concepts from the business ethics which illustrate the development of individual ethics, ethical challenges, levels of development of supporting business ethics, etc, to social responsibilities which talk about the business' relationships to the general public, customers, employees, and investors, and other members of the financial community.
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An organization that wants to prosper over the long term is well advised to consider
business ethics, the standards of conduct and moral values governing actions and decisions
in the work environment
...
Businesses must find the proper balance between doing what is right and doing what is
profitable
...
Development of individual ethics
Individuals typically develop ethical standards in three stages:
• In stage 1, the preconventional stage, individuals primarily consider their own needs
and desires in making decisions
...
• In stage 2, the conventional stage, individuals are aware of and act in response to
their duty to others
...
• In stage 3, the posconventional stage, represents the highest level of ethical and
moral behavior
...
Ethical Challenges
1
...
It occurs when a businessperson is faced with a
situation in which an action benefiting one person or group has the potential to harm
another
...
Avoiding them
2
...
Honesty and Integrity: An employee who is honest can be counted on to tell the
truth
...
Having integrity means
adhering to deeply felt ethical principles in business situations
...
Loyalty versus Truth: Businesspeople expect their employees to be loyal and to act in
the best interests of the company
...
4
...
State and federal
laws protect whistle-blower in certain situations
...
Development of a corporate culture to support business ethics happens on four levels:
1
...
One way for a firm to provide
this support is to develop a code of conduct, a formal statement that defines how
the organization expects employees to resolve ethical questions
...
Identify key corporate values and provide frameworks that
guide employees as they resolve moral and ethical dilemmas
...
Ethical education: code of conduct cannot detail a solution for every ethical situation
...
3
...
In addition, firms must provide structures and
approaches that allow decisions to be turned into ethical actions
...
4
...
The damage from ethical misconduct can powerfully
affect a firm's stakeholders- customer, investors, employees, and public
...
Historically, a company's social performance has been measured by its contribution to the
overall economy and the employment opportunities it provides
...
Some firms measure social performance by conducting social audits, formal procedures that
identify and evaluate all company activities that relate to social issues such as conservation,
employment practices, environment protection, and philanthropy
...
Responsibility to the general public:
Dealing with public health issues
Protecting the environment
Developing the quality of workforce
Corporate philanthropy
Responsibility to customers:
Consumerism: the public demand that a business consider the wants and needs of its
customers in making decisions
...
A sandwich generation
Ensuring equal opportunity on the job: prohibit discrimination (age discrimination, sexual
harassment and sexism)
Responsibility of investors and the financial community
Investors and the financial community demand the business behave ethically and legally
Title: Business Ethics and Social Responsibility
Description: A typed note for college level business-related note. It is very organized and clear. It includes many concepts from the business ethics which illustrate the development of individual ethics, ethical challenges, levels of development of supporting business ethics, etc, to social responsibilities which talk about the business' relationships to the general public, customers, employees, and investors, and other members of the financial community.
Description: A typed note for college level business-related note. It is very organized and clear. It includes many concepts from the business ethics which illustrate the development of individual ethics, ethical challenges, levels of development of supporting business ethics, etc, to social responsibilities which talk about the business' relationships to the general public, customers, employees, and investors, and other members of the financial community.