RSM100Y1 Chapter Notes - Chapter 2: Corporate Social Responsibility, Business Ethics, Green Marketing
Document Summary
Business ethics & social responsibility - chp 2. Business ethics: standards of conduct and moral values that lead to our actions and decisions in the business environment. Ethics goes beyond what is legal & what is illegal (codes of conduct in businesses applaud doing the right thing). Objective is to enhance society"s well being through philosophies, policies, procedures, & actions. Businesses must find a balance between doing what is right & what is profitable. Firms need to do more than just earn a profit for 2 reasons: Law requires them to behave legally & ethically. To ensure ethical standards are met, there are corporate officers. Ethics compliance officers are responsible for conducting employee training programs that spot sexual harassment, fraud & discrimination etc. Csr is more than just monitoring behaviour. 3 approaches to ethics & social responsibility. Engaging in traditional corporate philanthropy, such as giving to worthy causes. Identifying opportunities to create value by doing the right thing.
