Business Ethics and Corporate Social Responsibility Essay

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Ethics
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these are rules that help us tell the difference between right or wrong and encourage us to do the right things.
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All about ethics
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1) they help individuals in situations where they aren’t sure what to do. 2) they vary from person-to-person, situation-to-situation and culture-to-culture. 3) they are based on both individual beliefs and standards
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Behaviour
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this is based on: caring, respect, trustworthiness, justice and good citizens, adherence to moral rules and responsibility
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Values
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what we think are important which helps to make decisions between right or wrong.
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Morals
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rules we use to decide what is good or bad.
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Business ethics
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tied to society’s ethics and the ethics of individuals who work for and buy products from the company
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Importance of Business Ethics
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• Protects assets and properties of business. If you are missing from the workplace, workers would do as they like and may even steal from the business • Fosters teamwork and co-operation. The code of ethics in the workplace is made with a common goal and vision of employee(s). Mutual knowledge promotes teamwork. This enhances motivation. • Used to protect any basis right of a person for work • Increases reputation and builds strong relationship with public
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Integrity
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this begins with the decision of a person between what is right or wrong. Individuals who possess integrity, commit to choosing right before they find themselves in a situation which requires action. Without integrity, individuals are untrustworthy.
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Code of ethics
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A code of ethics is important because it provides individuals within a group, organization, club or society with a set of rules, standards and guidelines to operate within. When employees don’t have a code of ethics, they could engage in less-than-socially acceptable behavior. This can establish a bad reputation for an organization.
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Corporate social responsiblity
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when the business must listen to all stakeholders if they are to achieve their objectives. When a firm accepts legal and moral obligations to stakeholders, other than investors, it is said to be corporate responsibility.
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Obligations to stakeholders
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Shareholder – Good return on investment Employee -Fair pay and working conditions Supplier – Regular business and prompt payment Customer – Fair price and safe product Local community – Jobs and minimum disruption Government – Employment for local community Environment – Less pollution
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Good Corporate Governance
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