COMMERCE 1E03 Chapter Notes - Chapter 5: Corporate Social Responsibility, Insider Trading
23 Feb 2015
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Document Summary
Whistleblowers- people who report illegal or unethical behaviour. Compliance based ethics- emphasizes preventing unlawful behaviour by increasing control and by penalizing wrongdoers. Integrity-based ethics codes- define the organization"s guiding values, create an environment that supports ethically sound behaviour, and stress shared accountability among employees. Ethics- the standards of moral behaviour, that is accepted by society as right versus wrong. Insider trading- when a few investors, known as inside traders have chosen unethical means to improve their own financial health, uses private company info to further insiders" own fortunes or those of their family and friends. Corporate philanthropy- includes charitable donations to non-profit groups of all kinds. Corporate social initiatives- includes enhanced forms of corporate philanthropy that are more directly related the company"s competencies. Corporate responsibility- includes everything from hiring minority workers to making safe products, minimizing pollution, using energy wisely and providing a safe work environment. Corporate policy- refers to the position a firm takes on social and political issues.
