AFM131 Chapter Notes - Chapter 5: Kyoto Protocol, Corporate Social Responsibility, International Organization For Standardization

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Robert Sproule

Document Summary

Ethics is more than legality perform illegal acts and must be punished for it to stop cause economical harm. Ethics: standard of moral behaviour; that is, behaviour that is accepted by society as right versus wrong. Everybody has their moral standards as to what they think is right and wrong and situational circumstances can change moral therefore come big scandals. In a country there is no identifiable common standard of ethical behaviour. But most live by: treat those the way you wish to be treated. Do you feel right doing what you are doing? companies/individuals who have strong ethic code/use the check list more likely to behave ethically. Setting corporate ethical standards formal corporate ethic cods exists and are popular today, most organizations have a written code of ethics. Compliance-based ethics codes: ethical standards that emphasize preventing unlawful behaviour by increasing control and by penalizing wrongdoers.