MGMT 1P93 Lecture Notes - Lecture 2: Ethical Dilemma, Organizational Culture, Living Wage
20 Feb 2018
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Trustworthiness be honest, do what you say you"ll do. Respect treat others how you"d like to be treated responsibility be self-disciplined, persevere, accountable. Ethical dilemma decision that involves a conflict of values: has some significant (-) consequences. Business ethics the application of right and wrong, good and bad in a business setting. Ethical lapse a mistake or error in judgement that produce a harmful outcome. Ethical and the individual: the power of one. Ethical and the organization: it takes a village. The appearance of shaky ethics can be deeply damaging. Ceo communicates personal commitment to high ethical standards. Code of ethics: executive buy-in, clear expectation, integrated approach, global and local, whistleblower support, reporting and enforcement. Defining social responsibility: making the world a better place. Social responsibility: the obligation of a business to contribute to society. Stakeholder: anyone that has an interest or is affected by a corporation: employees, society, suppliers, government, customers.
