BSM 600 Lecture Notes - Lecture 12: Standard Ethics Aei, Differentiator, Triple Bottom Line
25 May 2016
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Document Summary
Reducing costs (outsourcing) = charge lower prices = sell more = make more profits. Universal ethics: apply all over the world, the right thing to do. Business actions have to be judged in the context of society"s standards of right and wrong. Corporate greed: expansion, wanting to be a leader in the industry. Organizations need to define success- differs from each company. Exist to solve problems, making a difference in the world. Vs exist to be the biggest and best. Short term profits (today, this year) vs long term profits (over longer times) Long term thinks about the future, less likely to engage in unethical practices. Built in checks in organization don"t seem to be working anymore. Cross board membership - are not friends. May be ceo in one organization, but can be board member in another organization, difficult to speak up against a friend. Long term: stakeholders in future, potential customers/employees.
