ADM 1100 Lecture Notes - Lecture 5: Ontario Securities Commission, Moral Treatment, Triple Bottom Line
4 Feb 2016
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Chapter 2: business ethics and social responsibility (session 6) Ethics: the study of moral beliefs about what is right or what is wrong. Social responsibility: a manager"s duty or obligation to make decisions that promote the well-being of stakeholders and society as a whole. Values: they don"t really want a salad (mcdonalds) Ethics & the law laws represent a minimum ethical standard. Ethics often represents a standard that exceeds the legal minimum frequent overlap between ethical and illegal ex: bullying legal but unethical. Don"t have to agree or disagree theories attempt to explain people"s behaviour there are not the only ethical theories. What makes something good or bad, right or wrong, satisfies one"s desires or. Self interest of person doing, considering, or affected by the action (capitalist system, evolution, fittest survive) Ethical theory 2: utilitarianism is that it produces the greatest amount of pleasure (or lack of pain) for the greatest number of people.
