RSM100Y1 Chapter Notes - Chapter 8: Corporate Social Responsibility, Business Ethics, Whistleblower
14 Mar 2016
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Document Summary
Business ethics refers to the standards of conduct and moral values that lead to our actions and decisions in the business environment. Businesses also must consider a wide range of social issues, including how a decision will affect the environment, employees, and customers. These issues are at the heart of corporate social responsibility (csr) Csr"s primary objective is to enhance society"s well-being through philosophies, policies, procedures, and actions. In other words, businesses must find a balance between doing what is right and doing what is profitable. Ethics goes beyond what is legal and what is not legal. In the united states, the sarbanes-oxley act of 2002 established new rules and regulations for securities trading and accounting practices. Companies are now required to publish their code of ethics, if they have one, and inform the public of any changes made to it. The law may actually motivate even more firms to develop written codes and guidelines for ethical business behaviour.
