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Lecture 3

BUSI 1800 - Week 3.docx

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Department
Business
Course
BUSI 1800
Professor
Richard Clayman
Semester
Fall

Description
BUSI 1800 – Week 3 Conducting Business Ethically and Responsibly What are ethics? - Standards or moral values that dictate what is right and wrong - Culturally based - Framed by social expectation - Vary by person, and by situation - Everyone develops their own set of ethics - What Guides Ethical Behaviour? For you: - Personal ethics - Your personal decision-making process At work: - Organizational culture - Unrealistic performance goals - Leadership (what they measure, reward/punish, focus upon, permit/ disapprove of) Managerial Ethics - Ethical behaviour of managers conforms to their individual beliefs and the social norms under which they operate - This guides their behaviour towards: - Employees o Firing, hiring, wages, privacy, etc o Some decisions not illegal, but still unethical (spying on other employees) - Behaviour toward the organization o Conflict of interest, confidentiality, honesty - Behaviour toward other economic agents o Customers, competitors, shareholders, suppliers, unions - Utility – optimize - Rights – individual rights - Justice – fair - Caring – responsibilities to others Company practices - Firms are using written code of ethics to guide employees o Top management support is essential - Ethics programs – educating employees Corporate Social Responsibility - Idea that a business should balance its commitments to individuals and groups that are directly affected by the organization’s activities Environmentally responsibility issue Air pollution - Climate change, global warming and greenhouse gasses - Created by chemical emissions made through production - Legislation directed to monitor polluting practices Water pollution - Due to years of releasing toxic waste in bodies of water - Big offenders are pulp & paper plants, municipalities who dump raw sewage - Curbed through legislation, education, and affordable new technology Land pollution - Contamination of grounds and soil due to dumping of toxic waste and mishandling of landfills - Key issue are: curbing pollution practices and restoring contaminated lands - New developments include: o Emphasis on recycling  Biomass – turning waste into energy o New forms of solid waste disposal o Changes in forestry practices Customer Rights Issues - Consumerism o Social movement that seeks to protect and rights of consumers in their dealings with businesses o They demand: safe products, be informed, be heard, choose what they buy, be educated about purchases, courteous service Unfair Pricing Issues - Illega
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