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Chapter 6

Chapter 6: Ethics and Corporate Social Responsibility.docx

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Nate Charlow

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Chapter 6: Ethics and Corporate Social Responsibility Ponzi Scheme: type of investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors Ethics: reflection of moral principles or beliefs about what an individual views as being right or wrong Ethics Wheel • Societal o Societal interpretation o Societal conditions o Legal and regulatory guidelines • Business Culture o Pressure to meet company objectives o Structure of “reward” systems o Pressure from superiors o Corporate “ethics” guidelines • Professional : Professional designations and association influences o Individual: Personal values, spiritual influences, past experiences, cultural influences, social image Triple Yes Rule • Yes # 1 : is decision accepted values or standards that typically apply to all organizational environment • Yes # 2: would I be willing to have this decision publicised? • Yes # 3: would people in my life with whom I have a significant personnel relationship as well as managers or other organizations support and approve decision Ethical Decision Making Process Identify whether ethical dilemma exists  in recognizing dilemma, gather as many facts about situation as possible  evaluate alternatives available from perspective of various ethical positions  choose what you believe to be best alternative and then “test” it with valued advisor to ensure your correct interpretations  initiate your decision and closely monitor results Board of Directors: term for governing body of corporation, comprising individuals chosen or elected to oversee management of organization *check pg 130 for
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