GEB 3373 Lecture Notes - Lecture 21: Chaebol, Johnson & Johnson, Corporate Social Responsibility

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The nature of ethics & social responsibility in international business. Ethics: in context of an individual, not organization: > focuses on individuals in organization, not organization itself. Social responsibility: in context of relationship between an organization and its overall environment. Ethics: an individual"s personal beliefs about whether a decision, behavior, or action is right or wrong. > determined by interactions with parents, other adults, peers; everyday occurrences; religious training; personal values. Ethical behavior: behavior that conforms to generally accepted social norms. > a society"s formal laws tend to reflect those norms. Unethical behavior: behavior that does not conform to generally accepted norms. > slavery once accepted as a social norm, but definitely not ethical. > ethical can vary across locations and vary over time. > how the organization and its employees treat other economic agents. How an organization treats its employees: hiring practices, career development, compensation & benefits, workers" rights & dignity. > issues can be both country-specific and international.

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