BU111 Study Guide - Final Guide: Ikea, Protection Mechanism, Paradigm Shift

• School: WLU
• Department: Business
• Course: BU111
• Professor: Sofy Carayannopoulos

Document Summary

Individual standards and belief about what is moral: business/ managerial standards of behaviour that guide employees and managers in the workplace, csr organizational ethical conduct (balancing various responsibilities to stakeholders) Influencing ethical preferences: hiring criteria, managerial role modeling, mission statement/ code of conduct, ethics booklets and training, goals/ evaluation criteria and rewards, employee protection mechanisms. *links back to diamond-e management preferences and resources. Why is csr important: makes environment more manageable, avoid adverse actions. Increases stakeholder support: promotes favourable legislation, helps meet csf. Improves trust and loyalty: encourages continuous innovation and improvements, source of competitive advantage. 4 approaches/ stances to csr: obstructionist, bp (pipe burst and oil spilt, voltzwagen (lied about car emissions, defensive, cigarettes (only warning labels but that"s it, accommodative, tuna, proactive, ikea, tentree. 5 areas of csr: environment, customers, employees, society. Why: paradigm shift in management thinking, quantification of impact, change in societal attitudes. Why: customers=revenue, avoid adverse actins, avoid increased regulation.