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BUA Chapt 2

Business Ethics and Social Responsibilities

TermDefinition
Ethics behavior beyond the law
business ethics Ethical standards
ethical standards normative standards of behavior set by culture, standards of behavior set by natural law, moral relativism; morla standards by situation, religion and ethics
social responsibility serves largest society best by serving larger society
invisible hand serves larger society by serving shareholders' interests
enlightened self-interest serves shareholders' interests by serving larger society
inherence serves shareholders' interests
positive law codified law
important values in business success: profit,leadership,reputation, strategy
Business create an ethical atmosphere by: Tone at the top, SOX and corporate sentencing guidelines; code of ethics, reporting hotlines, ethical posture and developing an ethical stance
ethical issues in international bsiness corruption issues, economic systems and ethics
Created by: 866665113
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