BU111 Study Guide - Final Guide: Deepwater Horizon Oil Spill, Corporate Social Responsibility, Brand Loyalty
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BU111 Full Course Notes
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The beliefs an individual has about what is right and wrong i. e. : i believe chopping in res is bad. Business ethics: (what managers use) standards that mangers hold and guide managers in their work influenced based upon individual ethics i. e. : my rlac believes that it is bad to chop in res. Corporate social responsibility: the responsibility that organizations have to all stakeholders i. e. : laurier has a responsibility to it"s students and the city of waterloo to book mans who chop. Managers must determine how to approach these situations. Establish a code of ethics, mission statement or value system. Define and work to a specific organizational culture: making it a place where people can feel the impact of business"s ethics during their day to day activities. Define specific goals rewards and evaluation metrics: allow opportunities to advance within the organization. Set up employee protection mechanisms: protection of whistleblowers. Can be a source of distinctive competitive advantage.
