MGMT 1040 Chapter Notes - Chapter 1: Economic System, Profit Motive, Virtue Ethics

• School: York University
• Department: Management
• Course: MGMT 1040
• Professor: Hope Shamonda

Document Summary

Sexty, chapter 1: the relaionship between business and society : ethics of business. The rules, standards, codes or principles that provide guidance for morally appropriate behaviour in managerial decision making relaing to the operaion of the business enterprise"s and business"s relaionship with society. It is broadly deined to include corporate social responsibility, corporate sustainability, triple botom line, corporate ciizenship, corporate governance, accountability and environmental stewardship: stakeholder. An individual or group who can inluence and/or is inluenced by the achievement of an organizaion"s purpose: corporate social responsibility (csr) The way a corporaion achieves a balance among its economic, social and environmental responsibiliies in its operaions so as to address stakeholder expectaions: corporate sustainability (cs) Corporate aciviies demonstraing the inclusion of social and environmental as well as economic responsibiliies in business operaions as they impact all stakeholders to ensure the long term survival of the corporaion.