BUSN 1101 Chapter Notes - Chapter 2: Corporate Social Responsibility, Work Accident, Civil Rights Act Of 1964
31 Aug 2016
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Ethical: ability and willingness to distinguish right from wrong and when you"re practicing one or the other. Business ethics: application of ethical behavior in a business context. Corporate social responsibility: approach that an organization takes in balancing its responsibilities towards different stakeholders when making legal, economic, and social decisions. Stakeholders: parties who are interested in the activities of a business because they"re affected by them. Treating employees, customers, investors, and public fairly. Holding every member personally accountable for his or her action. Communicating core values and principles to all members. Demanding and rewarding integrity from all members in all situations. Employees with these attitudes tend to suspect their employers aren"t that ethical: Consistently feel uneasy about work they do. Question the appropriateness of management directives and policies. Ethical dilemma: morally problematic situation, have to pick between two or more acceptable but often opposing alternatives that are important to different groups. Assess the effect of each option on stakeholders.
