ACCTG 1 Lecture Notes - Lecture 3: Business Ethics, Employee Assistance Program, Substance Abuse
Document Summary
The entrepreneur"s personal values begin to shape the business from day one. They set the tone for the culture that will guide the ethical actions: values and morals come from entrepreneur"s family, faith tradition, mentors, communities. Two issues: consider all stakeholders= the various groups and individuals who affect and are affected by a business. And business ethics are critical for a firm"s reputation. Entrepreneurs also behave in ways that are compatible with the value system of society. Social responsibility= how an organisation responds to the needs of many elements in society: notice that profit and purpose are not mutually exclusive. as. Serve specific guidelines for the daily decisions, act like a honour code. level, sets. Narrowest the minimum standard (but it"s not enough), tells which actions are permissible or not. These are the values people learn early (at home or school). A strong determinant of moral behaviour is training. Remember that companies are not ethical or unethical; individuals are.
