MGMT 1 Chapter Notes - Chapter 4: Corporate Social Responsibility, Insider Trading
Document Summary
People may begin to think that any behavior that is within law is acceptable. Ethics: standards of moral behavior accepted by society as right versus wrong. To keep existing customers and attract new ones. To avoid gov"t intervention in form of new laws. Compliance- based ethic codes: ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers. Integrity-based ethics codes: ethical standards that define the organization"s guiding values. Whistleblowers: insiders who report illegal or unethical behavior. Corporate social responsibility: business"s concern for the welfare of society. Corporate philanthropy: dimension of social responsibility that includes charitable donations. Corporate social initiatives: enhanced forms of corporate philanthropy directly related to company"s competencies. Corporate responsibility: dimension of social responsibility that includes everything from hiring minority workers to making safe products. Corporate policy: dimension of social responsibility that refers to the position firm takes on social and political issues.
