AGEC 242 Chapter Notes - Chapter 2: Nyse American, Corporate Social Responsibility, Johnson & Johnson

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Business ethics: standards of conduct + moral values. Corporate social responsibility (crs): primary objective is to enhance society"s well-being through philosophies, policies, procedures, and actions. Some business schools require graduates to swear oath upon graduation. Johnson & johnson is the most admired pharmaceutical maker b/c they"ve followed same code of ethics for 50+ years (their credo) Walmart divided social responsibility into: environment, people, responsible sourcing, community. Sarbanes-oxley act of 2002: rules and regulations for securities trading and accounting companies now required to publish code of ethics if they have. But still hard to track individual unethical behaviour in canada: technology has expanded the range and amount of this as well. Steps to individuals making difference in firm"s commitment (3 steps) development of individual ethics. Conflict of interest: employee must choose between business welfare and personal gain: law firm representing two competing companies, real estate agent representing buyer and seller, handling: 1.

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