PHIL 434 Lecture Notes - Lecture 2: Corporate Social Responsibility, Business Ethics
Document Summary
Definition: business ethics is the study of the sorts of standards that should be followed in the world of business. Simple answer: following moral rules helps us get along with the people around us. Success of business is dependant on a strong moral foundation treating employees fairly, being trustworthy in business negotiations, giving consumers fair value for their purchasing dollar. However, doing the right thing cannot always be in the business" immediate best interests. You can make a quick buck by lying, cheating or stealing (short-term vs long-term gain must be evaluated). Imagine that your crops are ready to harvest this week, and that you are going to have trouble bringing the crop in all by yourself. Your neighbour, also a farmer, has crops that will be ready to harvest next week, and she will likely have trouble harvesting her crop all by herself.
