RSM100Y1 Chapter 3: Chapter3
10 Mar 2011
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*law covers ethics but not all: behavior. ethical: conforms to individual beliefs and social norms about what is right and good. unethical: individual beliefs and social norms define as wrong and bad. To employees: hiring and fi ring, wages and working conditions. Conflict of interest: occurs when an activity benefits and individual at the expense of the employer (ex. To other economic agents (between firms: assessing ethical behavior (which is ethical and which or unethical) Demonstrate top management commitment to high ethical standards: adopting written codes. Code of ethics: formal, written acknowledgment of a company"s intent to do business in an ethical manner. Social responsibility: corporate social responsibility (csr): refers to the way in which a business t ries to balance its commitments to organizational stakeholders. Its customers, employees, investors, suppliers, local community: organizational stakeholders: that are directly affected by the practices of an organization and that therefore have a stake in its performance www. notesolution. com.
