COMM 306 Study Guide - Midterm Guide: Corporate Social Responsibility, Triple Bottom Line, Business Ethics
Document Summary
Chapter 2 (ethics & capitalism: fundamentals of capitalism, the right of private property. Creates intellectual property (ip) & uneven distribution of wealth through taxes, programs, etc: individualism & economic freedom. View that an individual is paramount decision maker in society. Freedom of: association, information, movement, entering/exiting business, Ethical implications could lead to ceos engaging in unethical behaviour towards various stakeholders for personal well-being (greed: equality of opportunity. All have even chance at responding to society"s conditions. Moving towards equality of results in canada. Difficult in capitalistic system and wealth isn"t distributed equally: competition & profits. Allows many sellers to provide g&s"s to more buyers. May lead to oligopolies or monopolies: the work ethic. Code of values/moral principles claiming work is desirable, a natural activity, and good for individuals and society. Individuals now expect more from government/union for work conditions: consumer sovereignty. Consumers exercise power over producers through purchasing decisions.
