GMGT 1010 Lecture Notes - Lecture 44: Tattletales, Business Cycle, Corporate Social Responsibility

• School: University of Manitoba
• Department: General Management
• Course: GMGT 1010
• Professor: Brock V.Cordes

Document Summary

Integrity-based ethics codes: ethical standards that define the organizations guiding values, create an environment that supports ethically sound behaviour and stress a shared accountability among employees. Ideal: conform to outside standards (laws and regulations) and chosen internal standards. Methods: education, leadership, accountability, decision processes, controls and penalties. 6 step process can help improve the business cycle: Top management support and explicit corporate code of conduct. Whistleblowers: people who report illegal or unethical behaviour (tattletales) - they must feel protected: needs to be anonymous, need to take action, need to report it. The ethics code must be enforced most important. Success of enforcing an ethics code is selecting an ethics officer. Demonstrate to stakeholders that ethics are important in everything that a company does. Corporate social responsibility (csr): a business"s concern for the welfare of society. Companies with good ethical reputations attract and retain better employees, draw more customers, and enjoy greater employee loyalty.