COMMERCE 1E03 Chapter Notes - Chapter 5: Corporate Social Responsibility
1 Feb 2018
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Chapter 5: ethics and csr (corporate social responsibility) Ethics : the moral principles and values that govern the actions and decisions of an individual or group. Laws : society"s values and standards that are enforceable in the courts. Morals : rules people develop as a result of cultural values and norms. The following factors affect the decisions you make as a manager: What is going on outside the business that affects the business. Companies that develop a strong ethics code and use the three ethics-check questions presented above have a better chance than most of behaving ethically. We cannot expect society to become more moral and ethical unless we as individuals commit to being moral and ethical ourselves. Have a code of ethics in place. Must be communicated during orientation and beyond orientation. Compliance-based ethics codes : ethical standards that emphasize preventing unlawful behaviour by increasing control and by penalizing wrongdoers. Conform to outside standards (laws and regulations)
