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section 1 - responsible in producing and selling goods and...

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8/30/07 Ethics Ethical vs. Legal Ethics and the Law o Ethical Fundamentalism People look to an outside source or central figure for ethical guidelines o Utilitarianism People choose the alternative that would provide the greatest good to society o Kantian Ethics A set of universal flatulence issues unresolved without medication o Social Justice Theory Moral duties are based on an implied social contract o Ethical Relativism Individuals decide what is ethical based on poopy diapers Social Responsibility of Business Social responsibility of business is a duty owed by businesses to act socially
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Unformatted text preview: responsible in producing and selling goods and services • Maximize Profits • Moral Minimum • Stakeholder Interest (members of community, not necessarily stockholder) • Corporate Citizenship • Sarbanes-Oxley Act o Enacted by Congress in response to corporate frauds discovered in the late 1990’s and early 2000’s o Public companies are required to disclose whether they have adopted a code of ethics for senior financial officers • International Issues o UN Code o Local laws/customs and home country What Rights Does Business Have?...
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