Ethics, Social & Environmental Responsibility for international Firms

Question 1

Moral Philosophies

Answer 1

-Teology (Actions are judged ethically based on their results)
-Deontology (Actions/Intentions are judged not its consequences)
-Justice (Actions are judged based on their fairness shown to those affected)
-Relativism (Actions are judged as ethical/unethical based on subjectivity)

Question 2

What is corperate social responsibility?

Answer 2

Corporate social responsibility may be defined as the integration of business operations and values whereby the interests of all stakeholders, including customers, employees, investors, and the environment are reflected in the organization’s policies and actions.

Question 3

Types of CSR

Answer 3

-Responsive CSR
-Strategic CSR

Question 4

Modern View of CSR

Answer 4

> Economic (must do)
Legal (Have to do)
Ethical (should do)
Discretionary (might do)

Question 5

What is corporate environmental responsibility?

Answer 5

We understand CER responses as corporate behaviour or “practices that benefit the environment (or mitigate the adverse impact of business on the environment) that go beyond those that companies are legally obliged to carry out.

Question 6

CER Strategies

Answer 6

-Ignore Deny
-Circumventing
-Coping
-Compensation

Question 7

Certified B Corperation

Answer 7

-Corporations that meet the highest standards of verified social profit and purpose