Business Strategic Behavior Notes
Business Strategic Behavior Notes Template
Mba Lecture Notes
Ethical principles and standards in business: • Define acceptable conduct in business • Should underpin how management make decisions An important distinction to remember is that behaving ethically is not quite the same thing as behaving lawfully: • Ethics are about what is right and what is wrong • Law is about what is lawful and what is unlawful An ethical decision is one that is both legal and meets the shared ethical standards of the community Businesses face ethical issues and decisions almost every day – in some industries the issues are very significant. 
For example: • Should businesses profit from problem gambling? • Should supermarkets sell lager cheaper than bottled water? • Is ethical shopping a luxury we can't afford?
• Should fashion retailers use suppliers who don't pay a living wage? Libros de inteligencia emocional. • Should supermarkets dispose of out-of-date groceries or give them to food banks?
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You will probably note the link between business ethics and corporate social responsibility (CSR). The two concepts are closely linked: • A socially responsible firm should be an ethical firm • An ethical firm should be socially responsible However there is also a distinction between the two: • CSR is about responsibility to all stakeholders and not just shareholders • Ethics is about morally correct behaviour How do businesses ensure that its directors, managers and employees act ethically? A common approach is to implement a code of practice. Ethical codes are increasingly popular – particularly with larger businesses and cover areas such as: • Corporate social responsibility • Dealings with customers and supply chain • Environmental policy & actions • Rules for personal and corporate integrity. We've just flicked the switch on moving all our digital resources to instant digital download - via our new subject stores. For every subject you can now access each digital resource as soon as it is ordered.