MGT100H1 Chapter Notes - Chapter 2: Brand, Whistleblower, Product Liability
10
MGT100H1 Full Course Notes
Verified Note
10 documents
Document Summary
Mgt100 contemporary business 2nd edition by boone, kurtz, khan, Many companies concerned about environment and societies in which they do business. Concern leads to action (e. g. growing slowly, reducing short-term profits for longer, sustainable benefits etc. ) Most organizations strive to combine ethical behavior and profitable operation difficulties include overcoming major ethical errors in recent years, ethical failues lead to lawsuits, indictments, judgements. Ethical errors lead both government and companies to make changes; businesses renew their efforts to behave in ethical manner and show responsibility tos society, consumers, and environment. Industry canada began voluntary standard on social responsibility (iso 26000); focuses on seven principles: accountability, transparency, ethical behavior, stakeholder interests, rule of law, international norms of behaivour, human rights. Companies now understand impact of setting good example instead of bad one companies will create goodwill when they give back to communities by funding youth camping programs, recycling/energy-conservation programs, paying fair prices to suppliers.
