ENGL 112 Lecture Notes - Lecture 3: Cvs Caremark, Shake Shack, Swot Analysis
Document Summary
Profits are obviously important for a for-profit company - but they are never the only thing that matters. Learning what matters, and how they matter is a critical part of a successful business education. Business ethics relates to the treatment of employees, respect to the surrounding environment and fair market practices in terms of price and consumer treatment. Organizational culture, management philosophy and ethics in business each have an impact on how well a business performs in the long term. E. g. the reputation of a business from the surrounding community, other businesses and individual investors is paramount in determining whether a company is a worthwhile investment. We do not judge success simply by money, power and status. We value leadership, social contribution, creativity and human decency. The only social responsibility of business is to earn profits while following the law and basic ethical customs.
