RSM100Y1 Chapter Notes - Chapter 2: Corporate Social Responsibility, Business Ethics, Moral Absolutism
Document Summary
Business ethics standards of conduct and moral values involved in decision making in business regarding right and wrong actions. Csr (corporate social responsibility) enhance society"s well-being through philosophy, policy, procedure, and action. Deciding what is right and what is wrong (legal and illegal) The ethical climate is increasing earn public trust. Sarbanes-oxley act of 2002 u. s. federal legislation designed to deter and punish corporate and account fraud and corruption; designed to protect the interests of workers and shareholders. New corporate officers appointed to deter wrongdoing and ensure the ethical standards are met. Ethics compliance officers responsible for conducting employee training programs that help spot potential fraud and abuse, investigating sexual harassment and discrimination charges. 3 pronged approaches: engaging in traditional corporate philanthropy, anticipating and managing risks. Unethical: put own interest ahead of the organization, lying to employees. Identifying opportunities to create value by doing right misreporting hours worked, internet abuse, safety violations. Factors: experiences, family, education, culture, religious backgrounds, environment.
