MGT 201 Chapter Notes - Chapter 5: Triple Bottom Line, Corporate Social Responsibility, Whistleblower
Document Summary
Managers face many pressures that can sometimes tempt them to engage in unethical behavior. Ethics is the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong. Just (cid:271)e(cid:272)ause (cid:373)a(cid:374)agers are(cid:374)"t (cid:271)reaki(cid:374)g the la(cid:449) does(cid:374)"t (cid:374)e(cid:272)essaril(cid:455) (cid:373)ea(cid:374) that the(cid:455) are (cid:271)ei(cid:374)g ethi(cid:272)al. Ethical managers display honesty and integrity, act in a way that communicates and enforces ethical standards, are fair in their decisions and the distribution of rewards, and show kindness and concern for others. Unethical managers seek to serve their own needs and interests at the expense of stakeholders. Confidence in business managers and leaders in all walks of life is at an all-time low. One hot-button ethical issue concerns excessive executive compensation. The business case for ethics and social responsibility. Companies that are ethical and socially responsible perform as well as often even better than those that are not socially responsible.
