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ch02itb - > Chapter 2 Business Ethics and Social...

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> > > > > > > > Chapter 2 Business Ethics and Social Responsibility
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Learning Goals Explain the concepts of business ethics and social responsibility. Describe the factors that influence business ethics. List the stages in the development of ethical standards. Identify common ethical dilemmas in the workplace. Discuss how organizations shape ethical behavior. Describe how businesses’ social responsibility is measured. Summarize the responsibilities of business to the general public, customers, and employees. Explain why investors are concerned with business ethics and social responsibility. 1 2 3 4 5 6 7 8
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Concern for Ethical and Societal Issues Business Ethics The standards of conduct and moral values governing actions and decisions in the work environment. Social responsibility. Balance between what’s right and what’s profitable. Often no clear-cut choices. Often shaped by the organization’s ethical climate. Sarbanes-Oxley Act 2002 law that added oversight for the nation’s major companies and a special oversight board to regulate public accounting firms that audit the financial records of these corporations.
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High profile investigations and arrests in headlines.
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