CHAPTER 4 - • Responsibility to Employees •...

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Chapter Four Demonstrating Ethical Behavior & Social Responsibility
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Ethics and Social Responsibility * Means that a business shows concern for the welfare of society as a whole . * More than doing what is legal * Ethics- deals with the proper relations with and responsibilities toward other people . * Legality deals with much smaller issues. (many immoral acts fall within our laws .
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Definitions * Ethics = the study of standards of conduct and moral judgment . * Morality- the attempt to live by certain values and standards of conduct accepted by society as right and wrong * Integrity= refers to the honesty, sincerity and morality of a person * Ethics is more than an individual concern. Firms encourage either unethical or ethical behavior .
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Organizational ethics * Begins at the top * Corporate values are instilled by the leadership and example of strong top managers
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Business Ethics & Social Responsibility * Responsibility to Customers/Environment
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Unformatted text preview: • * Responsibility to Employees • * Responsibility to Society, Investors, & Suppliers Ethics Check Questions : • Is It Legal ? • Is It Balanced ? • How Will It Make Me Feel About Myself ? Corporate ethical standards • Compliance-based ethics codes : • Emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers. Based on avoiding legal punishment • Integrity-based ethics codes : • * Define the organization’s guiding values • * Create an environment that supports ethically sound behavior • * Stress a shared accountability among employees Corporate Social Responsibility • * Corporate philanthropy- charitable donations • * Corporate responsibility- includes things like minority hiring, making safe products….etc . • * Corporate policy= position a firm takes on issues that affect the firm and society...
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