Ethics and Corporate Social Responsibility

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What are the four principles of corporate citizenship?

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1. Minimise harm 2. Maximise benefits 3. Be accountable and responsive to key stakeholders 4. Support strong financial results

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Why are ethics important for organizations and their employees?

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Ethics and corporate responsibility build the framework for making business decisions in a morally and ethically acceptable manner.

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What are the four forces that influence ethical behavior?

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1. Societal norms and culture 2. Laws and regulations 3. Organisational practices and culture 4. Individual perspectives

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What are the three approaches to making ethical judgments?

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1. The utilitarian model 2. The moral rights model 3. The justice model

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What does the utilitarian model focus on?

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The utilitarian model focuses on actions (behaviour) that benefit the greatest number of people.

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What is the moral rights model based on?

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The moral rights model is based on respect for fundamental rights and privileges.

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What does the justice model assess?

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The justice model assesses how equitably benefits and costs are shared among individuals and groups.

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What are the criteria employees use to evaluate corporate social performance (CSP)?

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1. Employment selection and promotion based on merit 2. Extent of workforce diversity 3. Payment of market-related wages 4. Workplace safety and privacy 5. Availability of training and development.

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What criteria do customers use to evaluate an organization?

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1. Quality products or services 2. Innovative products and services 3. Not selling faulty or unsafe products 4. Safe disposal of harmful products 5. Reasonable pricing policies 6. Honest advertising.

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What advantages can an ethical organization gain?

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1. Competitive advantage 2. Attracting investors 3. Attracting and retaining employees 4. Improving staff morale 5. Building a good reputation.