COMM 200 Chapter Notes - Chapter 5: Ponzi Scheme, Financial Statement, Corporate Social Responsibility
13 Mar 2014
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Chapter 5 ethics and corporate social responsibility. Nortel accounting scandal: an unethical scheme utilized by madoff investment securities. To answer this -> must assess ethics within an organization at two levels: first level has to do with individuals themselves, second level being the culture of the organization within which individuals work. Ethics: reflect the moral principles or beliefs about what an individual views as being right or: beliefs in part built around norms/standards of conduct society views as acceptable. Ethics can be thought of as an invisible hand inside us guiding our decisions. Triple yes rule: determining if ethical issues are effectively being dealt with. The approach causes one to fully assess, ethically, the ramifications of the decisions made and the preservation of personal integrity. The importance of this component is underlined in that companies are vulnerable to serious consequences and brand equity erosion that occurs from unethical behaviour within mgmt. and employee ranks.
