MGMT 1P93 Lecture Notes - Lecture 3: Business Ethics, Ethical Dilemma, A Better Place
26 Oct 2018
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Document Summary
Mistake in judgement which results in harmful consequences. Impact of individuals decisions is felt by the whole organization. Ethics relate to individuals day to day decision making. Social responsibility is the requirement of a business to contribute to society. Socially responsible firm features policies that meets the needs of all stakeholders of the firm (including: employees, investors, customers and broader community) Both ethics and social responsibility have a dynamic interactive relationship that plays a vital role in the profitability of a business and building the community. Orgs have a lot of responsibility b/c of a lot of shareholders. Bribery is wrong in canada but accepted in india. 2-1a defining ethics: murkier than you would think: Canada has a lot of diversity which means that setting the standard for ethics is difficult due to the fact that everyone comes with their own set of ethics and morality. 2-1b universal ethical standards: a reasonable goal or.
