BU111 Lecture Notes - Lecture 15: Protection Mechanism, Corporate Social Responsibility

• School: WLU
• Department: Business
• Course: BU111
• Professor: Sofy Carayannopoulos

Document Summary

Ethics are individual standards and beliefs regarding what is right/good or wrong/bad. Business or managerial ethics the standards of behavior that guide individual managers in their work. Corporate social responsibility (csr) what the company does to and for its stakeholders. Stakeholders include customers, employees, shareholders how a business defines ethical conduct at the organizational level - collective code way in which a business tries to balance its commitments to its organizational stakeholders. Rights approach don"t violate basic or legal rights. Utilitarian approach you are doing the most good for the most people. Fairness/justice approach equitable distribution of burdens and rewards. Socialist societies and taxes give a little to get some back. Caring approach consistent with people"s responsibilities to each other. Obstructionist stance do as little as possible. Accommodative stance goes further in some areas, but only when asked. Proactive stance going above and beyond what the law asks you to do without being asked to do so.