RSM100Y1 Lecture Notes - Insider Trading, Marriage Vows, Deontological Ethics
Document Summary
A corporation: produces goods and services, maximizes shareholder value, contributes to the betterment of society, provides jobs, pays taxes, supports social and environmental infrastructures. A business"s collective code of ethics towards its stakeholders. Responsibility toward the environment: air pollution, water pollution, land pollution. Collusion (eg. air canada today: ethics in advertising. Rights of consumers: right to safe products, right to be informed about all relevant aspects of a product, right to be heard, right to choose what they buy, right to be educated about purchases, right to courteous service. Responsibility toward employees: legal and social commitments, human resource management issues, social responsibility issues, privacy issues, drug testing and computer monitoring, encouraging ethical behaviour, whistle-blowers. Responsibility toward investors: improper financial management, enron type fraud, auditor like arthur andersen, lay (ceo dies of heart attack), skilling in jail, fastow testified against for wife"s lighter sentence.
