COMM101 Lecture Notes - Lecture 3: Deepwater Horizon Oil Spill, Shell Nigeria, Accounting Scandals

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Week 3
Comm101 - Principles of Responsible Business
Is responsible business important? Reflective Essay Preparation and Turnitin
Lecture Outline
-what is a corporation?
-the business of business
-the importance of moral principles
-teaching and learning in COMM101
-assessment 2
-Reflective writing
-Turnitin
What is a corporation?
-Metaphors that describe a corporation (lecture answers)
a machine —> built for a purpose and has interrelating parts
the human body —> all the functions are codependent and need to work together to live
a government —> a boss and others working to make it happen
an onion —> all the layers forming to make a whole
-Corporation film…
The Business of Business
-business success depends on the ability of a firm to act responsibly, in the long term
-a general crisis of legitimacy and trust
environmental disasters —> BP, Ok Tedi, Shell Nigeria, Bhopal, Exxon-Valdez
accounting scandals —> Enron, Worldcom, HIH
ethical misconduct in various shapes and firms —> Nike, News Corp, James Hardie
-(watch BP oil spill video from Moodle)
!1
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Document Summary

Business success depends on the ability of a rm to act responsibly, in the long term. A general crisis of legitimacy and trust: environmental disasters > bp, ok tedi, shell nigeria, bhopal, exxon-valdez, accounting scandals > enron, worldcom, hih, ethical misconduct in various shapes and rms > nike, news corp, james hardie. (watch bp oil spill video from moodle) Walking the talk > doing what you say you will do, showing that you can/will do it. Making pro ts with principles > founder of the body shop was against animal testing so her business is also against this and does not test on animals. Delivering on the triple bottom line > people, planet and pro t (the three p"s) > > the study of right and wrong, duty and obligation, moral norms, individual character and responsibility. Morality and law: the distinction between morality and law . An action can be illegal bit morally right.

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