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Business Ethics Notes

In: Philosophy and Psychology

Submitted By johnyatol123
Words 1365
Pages 6
Chapter 1: Perspective on Business Ethics and Values * Identify the good, tragic, comic, satirical and farcical elements in the way in which people and organization deal with matters of ethics and morality * Stakeholder theory * Business case for business ethics * Arguments about the moral status of business and organization

Moral conflict between self-interest and public duty, between social and environment duty what takes precedence? Should a business case be proven before an organization commit to appeal fund or should behave in a socially responsible way, beyond the requirement of law because it is the right thing to do? It would seem logical that a company would benefit from socially responsible conduct such as renewable resources, promoting fair trade, empowering gender fairness in employment and support the community in which they operate. However, the translation of benefits into economic profits is not guaranteed. For some consumers the buying decision is influenced by the social image of the company but by the value they get from the trade. Various factors can be employed to measure the corporate social responsibility performance are Dow Jones Sustainability Index, SERM rating and EIRIS.
Stakeholder Theory:
What responsibilities or obligation does an organization owes to its stakeholders?
How should an organization cater to the competing need of different stakeholders?
What legitimate interests justify a group of people being regarded as stakeholders?
Business and organization ethics? Issue | Classical liberal | Pluralist (A & B) | Corporatist | Critical | Status | | A is stakeholder perspective. B is ethical decision making | Interest of employees and states are represented equally | | Objectives | Meeting shareholders demands | Competing stakeholders objective | Mix of finance | | Financial targets | Reflects the…...

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