Ethics, Sustainability and Corporate Responsibikity Flashcards
1
Q
Ethical considerations for a business dilemma
A
Fairness
Effect
Transparency
Action
2
Q
Common ethical issues
A
Legality
Integrity/Honesty
Self-interest/Objectivity
3
Q
Types of sustainability
A
“Ability to meet the needs of the present without compromising the ability of future generations to satisfy their own needs.”
Social - concerned with communities and society
Environmental - sustainable use of resources
Economic - financial stability
4
Q
Corporate responsibility
A
“The belief that a firm owes a responsibility to society”
Reasons:
- PR
- self-regulation more cost effective
- attracts ethical investors
- develops more rounded staff
