MGM101H5 Lecture Notes - Lecture 4: Ponzi Scheme, Corporate Social Responsibility
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
Mgm october 18th ethics & corporate social responsibility. Ethics govern behavior when no one is watching. Underpins personal, professional and business acions: facilitates all dealings trust, lowers cost of transacions. Low level of trust; cost of transacions is higher. Ponzi scheme; type of investment fraud that involves payment of purported returns to exising investors from funds contributed by new investors. Ethics in two levels: individuals, culture of organizaion within which individuals work. Integrity; honesty, reliability, ethics: most important skill you can bring to workplace. Csr: treaing public interest as key stakeholder in operaional success, paricipaing in aciviies that enable organizaion to win while serving community. What kind of aciviies should csr represent: what extra services they provide to community (giving back to community) Sponsoring local events: environmental friendly regulaions, fair trade with suppliers, fair and appropriate compensaion levels, posiive work environment, opportuniies for people to grow.
