RSM100Y1 Lecture Notes - Lecture 12: Corporate Social Responsibility, Tiffany & Co., Johnson & Johnson
31 Mar 2016
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Document Summary
If organizaions want to do well long-term, should consider its business ethics. Business ethics refers to the standards of conduct and moral values regarding right and wrong acions in the business environment. Businesses also must consider a wide range of social issues, including how a decision will afect environment, employees, and customers. These issues are at the heart of corporate social responsibility (csr) Csr"s primary objecive is to enhance society"s well-being through philosophies, policies, procedures, and acions. In other words, businesses must ind a balance between doing what is right and doing what is proitable. In business, as in life, deciding between right and wrong is not always easy. Firms have many responsibiliies-to its employees, customers, investors and society as a whole. Trying to serve the diferent needs of these groups can lead to conlicts. Ethical values of execuives and employees at all levels can inluence a business"s decisions and acions.
