PHIL215 Study Guide - Final Guide: Corporate Social Responsibility, Stakeholder Theory, Business Ethics
16 Mar 2013
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Document Summary
Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed. Equivocal: simply may not be a definitive right" answer to many business ethics problems. Morality is concerned with norms, values, and beliefs embedded in social processes which define right and wrong for an individual or a community. Ethics is concerned with study of morality and application of reason to elucidate specific rules and principles that determine right and wrong for a given situation. These rules and principles are called ethical theories. Globalization: process which diminishes the necessity of common and shared territorial basis for social, economic, and political activities, processes, and relations. Customers demand good quality products at fair price. Sustainability is the long-term maintenance of systems according to environmental, economic, and social considerations. Corporate social responsibility (csr) includes economic, legal, ethical, and philanthropic expectations placed on organizations by society at given point in time.
