Ethics and Social Responsibility. Ethics O A set of moral principles by which people conduct themselves personally, socially, or professionally.

Ethics and Social Responsibility

EthicsO A set of moral principles by which

people conduct themselves personally, socially, or professionally

Business EthicsO A set of ideas about how a company

should conduct business in relation to legal, social and environmental issues

O Includes practicing in a way that is legal, moral and fair.

Social ResponsibilityO The duty to do what is best for

society

O There are two things to promote social responsibility

1. Eliminate negative activities2. Perform positive activites

Individual Level Corporate Level

Theft Discrimination

Lying and spreading rumors Unfair pay

Accepting bribes Sweatshop labor/Child labor

Harassing others Misleading accounting statements

Stealing Not paying taxes

Disobeying company rules Pollution

Selling defective products

Unsafe work

Paying bribes

What are some positive activites a business can support?

O Sponsoring charitable campaignsO Training unemployed people for jobsO Allow others to use company facilities

for charityO Support mental/physical health of

employeesO Create a Code of Ethics

Code of EthicsO A statement that

explains what a company or group believes is proper and improper conduct.

O Applies to individual and company as a whole

StakeholdersO Various individuals or groups of people

that have direct interest, involvement, or investment in something

O EmployeesO UnionsO ShareholdersO CommunityO Government

Factors that Affect Ethical Decisions

O CultureO ReligionO Family

O HistoryO PrecedentsO Past acceptance of certain actions

O Laws