MGMT 2150 Lecture Notes - Lecture 7: Water Pollution, Environmentalism, Corporate Social Responsibility
19 Oct 2016
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Document Summary
Ethics: ability and willingness to distinguish right from wrong and when you"re practicing one or the other. Business ethics: application of ethical behavior in a business context. Social responsibility: approach than an organization takes in balancing its responsibilities toward different stakeholders when making legal economic, ethical, and social decisions. Stakeholders: parties who are interested in the activities of a business because they"re affected by them. Everyone is accountable for his or her actions. Uncomfortable about the way workers are treated. Question correctness of management directive & policies. Ethical issues: bribes versus gifts, conflicts of interest, conflicts of loyalty, issues of honesty and integrity, whistle-blowing. Must choose between promotion of personal interest and interests of others: can interfere with best interests of company and stakeholders. Individual who exposes illegal or unethical behavior in an organization. Ethical decision: decision in which there is a right and a wrong choice.
