BUSINESS ETHICS AND THE ROLE OF CORPORATIONS

Barnal, Cuyson, Valderrama

What are Business Ethics? Moral principles that guide the way a business

behaves. The same principles that determine an individual’s actions also apply to business.

Many global businesses, including most of the major brands that the public use, can be seen not to think too highly of good business ethics. Many major brands have been fined millions for breaking ethical business laws. Money is the major deciding factor.

Corporate Responsibility Refers to fulfilling the responsibilities or

obligations that a company has toward its stakeholders.

Can help distinguish between a stakeholder expectation and a corporate obligation, i.e., is the company obligated to provide absolute environmental protection at all costs or is it obligated to maximize profits for its investors at the cost of damaging the environment?

Corporate Social Responsibility• “It is a form of corporate attention to social and

environmental issues internal or external to the business organization”

Businesses have ethical responsibilities to their employees, customers and society as a whole.

A company also has wider responsibilities. It should minimize any harm to the environment and work in ways that do not damage the communities in which it operates. 

THE ETHICS OF RESPONSIBILITY

Responsibility

“A duty or obligation to satisfactorily perform or complete a task (assigned by someone, or created by one's own promise or circumstances) that one must fulfill, and which has a consequent penalty for failure.” BusinessDictionary.com

 

One of Judaism’s most distinctive and challenging ideas: the ethics of responsibility, the idea that God invites us to become, in the rabbinic phrase, His “partners in the work of creation.”

The God who created the world in love calls on us to create in love. The God who gave us the gift of freedom asks us to use it to honor and enhance the freedom of others.

Life is God’s call to responsibility.

List of Ethical Issues in Business

Fundamental Issues (integrity and trust)

Diversity Issues Decision-Making Issues Compliance and Governance (Laws

and regulations)

Fundamental Issues

Conducting your business affairs with honesty and a commitment to treating every customer fairly.

A relationship of trust between you and your customers may be a key determinate to your company's success.

Diversity Issues

According to the HSBC Group, "the world is a rich and diverse place full of interesting cultures and people, who should be treated with respect and from whom there is a great deal to learn."

Decision-Making

Ethical decision-making processes should center on protecting employee and customer rights, making sure all business operations are fair and just, protecting the common good and making sure individual values and beliefs of workers are protected.

Compliance and Governance Issues

Businesses are expected to fully comply with environmental laws, federal and state safety regulations, fiscal and monetary reporting statutes and all applicable civil rights laws.

Bibliography

http://businesscasestudies.co.uk/anglo-american/business-ethics-and-corporate-social-responsibility/what-are-business-ethics.html#ixzz398s9wdDn 

http://greatergood.berkeley.edu/article/item/the_ethics_of_responsibility

http://smallbusiness.chron.com/list-ethical-issues-business-55223.html

http://www.scu.edu/ethics/publications/submitted/hurst/comparitive_study.pdf

http://www.businessdictionary.com/definition/responsibility.html#ixzz39J91An2j