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Business Ethics and Social Responsibility (The Nature of Social…
Business Ethics and Social Responsibility
Improving Ethical Behavior in Business
Codes of ethics are
formalized rules and
standards that describe
what a company expects
of its employees.
Whistleblowing occurs
when an employee exposes
an employer’s wrongdoing
to outsiders, such as the
media or government
regulatory agencies.
Recognizing Ethical Issues in Business
Ethical issue
Misuse of Company Resources
Abusive and Intimidating Behavior
Communications
Fairness and Honesty
Conflict of Interest
Business relationships
a. Behavior of businesspersons towards customers, suppliers, and others in the workplace can generate ethical concerns.
1) Keeping company secrets
2) Meeting obligations
3) Avoiding pressure to act unethically
The Nature of Social Responsibility
Economic responsibility
means earning profits,
the base of the pyramid
of social responsibility.
Legal responsibility means complying with the law.
Voluntary responsibilities
are non-required activities
that promote human
welfare or goodwill.
Social Responsibility Issues
Corporate citizenship
is the extent
to which businesses meet
the legal, ethical, economic,
and voluntary responsibilities
placed on them by their stakeholders.
Relations with Owners and Stockholders
Employee Relations
Consumer Relations
Sustainability Issues.