Business Law ETHICS

Question 1

Private Company Code of Ethics

Answer 1

Created internally by company, enforced by company but can only be enforced within
Typically company policy outline

Question 2

Industry Ethical Codes

Answer 2

Most professional organizations have these, rules of professional conduct - can be disciplined (ex. American Bar Association)

Question 3

Profit vs Corporate Citizen

Answer 3

Even when maxing profits is goal, companies benefit by ethical behavior
“Triple bottom line”

Question 4

4 part Analysis in making business decision

Answer 4

1. Legal Implications
2. Public Relations Impact
3. Safety risks for Consumers/Employees
4. Financial Implications

Question 5

Corporate Social Responsibility (CSR)

Answer 5

Combines a commitment to good citizenship with a commitment to making ethical decisions, improving society and minimizing environmental impact