RSM100Y1 Chapter Notes - Chapter 2: Corporate Social Responsibility, Moral Absolutism, Sustainable Agriculture
Document Summary
Business ethics: the standards of conduct and moral values that lead to our actions and decisions in the business environment. Enhance society"s well-being through philosophies, policies, procedures, and actions. Deter and punish corporate and accounting fraud and corruption. Protect the interests of workers and shareholders by requiring enhanced financial disclosures, criminal penalties for ceos and. Cfos who defraud investors, and safeguards for whistle-blowers. Identifying opportunities to create value by doing the right thing. Unethical acts by anyone in the field may effect the firms itself. Refuse to import goods and services from certain places. Situation when businessperson has to choose between a business"s welfare and personal gain. Behaving according to one"s deeply felt ethical principles in business situations. Build long term relationship with customers, employers, suppliers, the public. Lie on their resumes or job applications. Monitoring and surveillance to ensure employees are acting according to their work policies. Decide between loyalty to the company and truthfulness in business relationships.
