ETHICS & SOCIAL RESPONSIBILITY
What is Business Ethics
ETHICS: a set or moral principles or values that govern behavior.
Businesses develop ethics to help them determine how to behave. These ethics reflect a company’s beliefs about what actions are appropriate and fair among people.
CODE OF ETHICS
A document that outlines the principles of conduct to be used in making decisions within the organization.
Adherence to the law
Product safety and quality
Health and safety in the workplace
Conflicts of interest
Selling and marketing practices
Pricing, billing and contracting
Do you think a teacher’s code of ethics is different than a police officers?
DEALING WITH ETHICAL DILEMMAS
Are situations which the ethical course of action is not clear.
Ethical Dilemmas arise regularly in the business world.
ETHICAL STANDARDS & CULTURE
Standards of business ethics differ around the world.
This means that business practices that are acceptable in one country may be considered unethical in others.
Business managers working in other countries must be aware of these different ethical standards.
MEASURING SOCIAL RESPONSIBILITY
To measure how socially responsible a company is, some managers perform social audits.
Social Audit: is a review of a business’s social responsiveness
Our country measures through the following three ways.
PHILANTHROPY & VOLUNTEERISM
Efforts to improve human welfare
Companies grant paid time off to employees to participate in charitable events
Donate blood Food and clothing drives United Way
Limiting the damage their operations cause to the environment
Establishing policies that reduce pollution
Encourage car pooling
Using biodegradable products and refillable containers
SENSITIVITY TO DIVERSITY & QUALITY OF WORK LIFE
One of the most important ways a company can demonstrate its sense of social responsibility is through
Maintain ethnically diverse workforces that reflect the societies in which they operate
Adopt polices that contribute to the quality of life of their workers.