BUSI 1800 Chapter Notes - Chapter 5: Triple Bottom Line, Situational Ethics, Corporate Social Responsibility
13 Sep 2018
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Ethics: standards of moral behavior; that is, behavior that is accepted by society as right versus wrong: many people practice situational ethics. Businesses should be managed ethically to: maintain a good reputation, keep existing customers, attract new customers, avoid lawsuits, reduce employee turnover, avoid government intervention, please customers, employees, and society, do the right thing. Compliance-based ethics codes: ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrong-doers. Integrity-based ethics codes: ethi(cid:272)al sta(cid:374)da(cid:396)ds that defi(cid:374)e the o(cid:396)ga(cid:374)izatio(cid:374)"s guidi(cid:374)g (cid:448)alues, create an environment that supports ethically sound behaviour, and stress shared accountability among employees. Whistleblowers: people who report illegal or unethical behaviour: sarbanes-oxley act of 2002 (sox, us legislation that established stronger standards to prevent misconduct, and to ensure the accuracy and reliability of published financial information. It also protects whistleblowers from any company retaliations: there is no national legislation in canada that protects all workers, however, some federal and provincial legislation does protect public service workers.
