COMMERCE 1B03 Chapter Notes - Chapter 5: Business Ethics, Positive Tone, Corporate Social Responsibility
5 Feb 2014
School
Department
Course
Professor
Document Summary
The following 6-step process can help improve business ethics: 1. top management must adopt and unconditionally support an explicit corporate code of conduct. 2. employees must understand that expectations for ethical behaviour begin at the top and that senior management expects all employees to act accordingly. 3. managers and others must be trained to consider the ethical implications of all business decisions. Phone lines to the office should be established so that employees who don"t necessarily want to be seen with an ethics officer can inquire about ethical matters anonymously. Whistleblowers (people who report illegal or unethical behaviour) must feel protected from retaliation as oftentimes this exposure can lead to great career and personal cost. 5. outsiders such as suppliers, subcontractors, distributors, and customers must be told about the ethics program. Pressure to put aside ethical considerations often comes from the outside, and it helps employees to resist such pressure when everyone knows what the ethical standards are.
