Business Ethics Flashcards
What is corporate social responsibility ?
The idea that a business or organisation has ethical responsibilities to the wider community and environment
what is a stakeholder ?
any individuals or groups who are affected by the actions of the business or organisation
What Is a stockholder ?
The individuals who own the company or shareholders in the company who gain anytime the company makes a profit
What are Milton friedman’s ideas that oppose corporate social responsibility ?
That while some may choose to take on social responsibilities while as a employee, their duty is too the company
Adam smith often shows that good ethics is good business, what sort of ethical theory does he use ?
His arguments are mostly utilitarian, saying the symbiotic relationship between business and customer ultimately means proper care of the customer will benefit the business in the long term
Who else weighs in ?
Immanuel kant, saying doing our duty is more important than the cost of business
What is whistle blowing ?
When an employee acts in the public interests, calling their employer out when there is wrongdoing within the organisation
What are the two types of whistle blowing
Private and public
Under what circumstances might an employee whistle blow ?
Breach of company rules
Illegal activity
Danger to the public
Discrimination
Bullying/harassment of employees
What is globalisation ?
The integration of economies, industries, markets, culture and policy around the world
what are some cases we can use relating globalisation to business ethics ?
the Rana plaza incident
the Facebook data scandal
