100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Summary Business & Society: Ethics, Sustainability & Stakeholder Management - The Management Of Corporate Social Responsibility 314 (Csr314)$9.79
Add to cart
The Management Of Corporate Social Responsibility 314 (CSR314)
Summary
Summary Business & Society: Ethics, Sustainability & Stakeholder Management - The Management Of Corporate Social Responsibility 314 (Csr314)
24 views 0 purchase
Course
The Management Of Corporate Social Responsibility 314 (CSR314)
Institution
Stellenbosch University (SUN)
Book
Business & Society: Ethics, Sustainability & Stakeholder Management
The notes have been made using the text book and class notes and lecture slides. They are very detailed and of excellent quality. It goes in depth about all concepts in chapter 5,6,9,10. Graphs and definitions are given clearly.
management of corporate social responsibility 314 notes
csr 314 stellenbosch university
Connected book
Book Title:
Author(s):
Edition:
ISBN:
Edition:
More summaries for
Test Bank For Business & Society 11th Edition by Archie B. Carroll, Jill Brown Chapter 1-18.
All Cases For Business & Society 11th Edition by Archie B. Carroll, Jill Brown
Solution Manual For Business & Society 11th Edition by Archie B. Carroll, Jill Brown Chapter 1-18
All for this textbook (5)
Written for
Stellenbosch University (SUN)
The Management Of Corporate Social Responsibility 314 (CSR314)
All documents for this subject (3)
Seller
Follow
viankeherbst
Reviews received
Content preview
Chapter 5 - business ethics essentials
Created @May 1, 2023 4:40 PM
Business ethics scandal
The public’s interest in business ethics is at an all-time high, spurred by scandals.
1. Wall Street financial scandals: AIG, Bear Stearns, Lehman Bros, Fannie Mae, Freddie Mac,
and Bernie Madoff
2. Business ethics has both macro and micro effects.
3. In their 2020 poll, for example, Gallup found that only 17 percent of the public rated the
ethics of business executives very high or high.
Major scandals
Airbus of Europe- Bribed to secure contacts over the world
Boeing- flawed software leading to two major airline crashes
Purdue Pharma - Felonies selling OxyContin: kickbacks and fraud
Employees
- Fair compensation practices
- Fair day’s work and pay; living wage Compliance with employment laws
- Avoidance of employment discrimination Safe working conditions
Avoiding employee theft/embezzlement Protecting employees’ privacy
- Dealing with distracted employees
Community/environment
-Environmental protection/sustainability
-Adherence to legal mandates
Chapter 5 - business ethics essentials 2
, -Good corporate citizenship Philanthropy/supporting causes
-Adapting to foreign cultures
-Avoidance of bribery
-Stakeholder Group Examples of Ethical Issues
-Shareholders Protection of company assets
1) Basic concepts of business ethics
Ethics – are standards of conduct, which originate from some external group or source such as
society, in general, or business, in particular.
Morals – standards of conduct that originate within the individual. Morality, in this view, is often
viewed as one’s personal compass regard-ing right or wrong
Business Ethics
• Is concerned with rightness, wrongness, fairness or justice of actions, decisions, policies, and
practices that take place within a business context or in the workplace.
• Is the study of practices in organizations and is a quest to determine whether these practices are
acceptable or not.
Descriptive Ethics
• Involves describing, characterizing, and studying morality.
• Focuses on what is occurring.
Chapter 5 - business ethics essentials 3
, Descriptive ethics is concerned with describing, charac-terizing, and studying the
morality of people, an organiza-tion, a culture, or a society. It also compares and
contrasts different moral codes, systems, practices, beliefs, and val-ues.
In descriptive business ethics, the focus is on learning
what is occurring in the realm of behavior, actions, deci-sions, policies, and practices
of business firms, managers, or, perhaps, specific industries.
Public opinion polls frequently give us glimpses into descriptive ethics—what people
believe is going on as the basis of their perceptions and understandings.
Descriptive ethics focuses on “what is”—the prevailing set of ethical standards and
practices in the business commu-nity, specific organizations, or on the part of specific
man-agers.
The major danger in using descriptive ethics is that some people may adopt the view
that “if everyone is doing it,” it must be acceptable. Just because many employees are
participating in this questionable activity does not make it an acceptable practice.
This is why normative ethics is important.
Normative Ethics
• Focuses on what ought or should be occurring.
• Demands a more meaningful moral anchor than just “everyone is doing it.” Normative Ethics is
our primary concern in this text.
Chapter 5 - business ethics essentials 4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller viankeherbst. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.79. You're not tied to anything after your purchase.
