BMGT 110 Chapter Notes - Chapter 4: Corporate Social Responsibility, Insider Trading
3 Mar 2015
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Chapter 4: demanding ethical and socially responsible behavior. Ethical standards are fundamental as right versus wrong. Ethics- standards of moral behavior, that is, behavior accepted by society. Questions to ask yourself when facing an ethical dilemma: Drinking and driving, gathering marketing intelligence, hiring/firing employees. An ethical business person has a win-win attitude and tries to make decisions that benefit all. Compliance-based ethics codes- ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers. Integrity-based ethics codes- ethical standards that define the organization"s guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees. Six steps to improve u. s business ethics. Top management must adopt and unconditionally support an explicit corporate code of conduct. Employees must understand that expectations for ethical behavior begin at the top and that senior management expects all employees to act accordingly. Managers and others must be trained to consider the ethical implications of all business decisions.
