what are business ethics ?
ethics are the moral principles that shape the way that a business behaves
ethical issues facing businesses
environmental, animal rights, treatment of suppliers, treatment of customers, treatment of workers
what has become increasingly important for firms and why ?
CSR (corporate social responsibility)
- important considerations as firms seek to become good social citizens
when do businesses consider social responsibilities ?
ethical businesses do when devising corporate objectives and strategies
they think about the ‘moral rights and wrongs’ of a particular course of action
aims of corporate social responsibility ?
aims to ensure that firms conduct their businesses in a way that is ethical
means taking account of their social, economic and environmental impact and consideration of human rights
what may corporate social responsibility involve ?
- working in partnership with local communities
- socially responsible investment
- building relationships with staff and customers
- environmental protection and sustainability
benefits of corporate social responsibility ?
improved brand image, marketing advantages, improved staff motivation, attract top candidates for jobs, reduced labour turnover & absenteeism
negatives of corporate social responsibility ?
reduced profitability, unhappy shareholders, does a firm act consistently in all countries that they operate in ?, is CSR a genuinely held belief ?
what is carroll’s csr pyramid ?
carroll states that firms firstly need to establish a sound financial base from which to act responsibly
he believed that the ultimate goal of any business was to be able to contribute towards society in a positive manner
