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Lecture 4

Week 4 BU111.docx

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Sofy Carayannopoulos

BU111 Chapter 4-Social Factors, Ethics, CSR, Stakeholders Week 4 Ethics-individual standards or moral values regarding what is right and wrong or good and bad Ethical Behaviour-behaviour that conforms to individual belief and social norms about what is right and good Unethical Behaviour-behaviour that individual beliefs and social norms define as wrong and bad Business Ethics-ethical or unethical behaviours by a manager or employee of an organization Managerial Ethics-standards or behaviour that guide individual managers in their work Conflict of Interest-occurs when an activity benefits the employee at the expense of the employer Corporate Social Responsibility-the idea that a business should balance its commitments to individuals and groups that are directly affected by the organization’s activities Organizational Stakeholders-groups, individuals and organizations that are directly affected by the practices of an organization and that therefore have a stake in its performance Pollution-the introduction of harmful substances into the environment Air Pollution-pollution that occurs when a combination of factors lowers air quality Global Warming-an increase in the earth’s average temperature Toxic Waste-pollution resulting from the emission of chemical and/or radioactive by-products of various manufacturing processes into the air, water, or land Recycling-the reconversion of waste materials into useful products Biomass-plant and animal waste used to produce energy Consumerism-a social movem
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