Week 16

Question 1

What is ethics?

Answer 1

Ethics refer to rules provided by an external source, e.g., codes of conduct in workplaces or principles in religions.

Question 2

What is morality?

Answer 2

Morality – refer to an individual’s own
principles regarding right and wrong.
Morals are what you believe, while ethics
are what you do.
Morals are often based on religion or
culture, while ethics are based on logic
and reason.

Question 3

What does ethics focus on?

Answer 3

 Ethics focuses on the decision-making process for determining right and wrong, which sometimes is a matter of weighing the pros and cons or the competing values and interest.

Question 4

What is business ethics?

Answer 4

Business ethics is the prescribed code of conduct
for businesses. It is a set of guidelines for dealing with various procedures ethically.

Question 5

What is corporate responsibility?

Answer 5

 Corporate responsibility (ethics safeguard all the internal and external parties)

Question 6

What is personal responsibility?

Answer 6

 Personal responsibility (Employees are expected to act responsibly with honesty, punctuality, and willingness to perform duties)

Question 7

How do large companies address the issue of child labour?

Answer 7

Many large companies are actively working to eliminate child labour in their supply chains and operations due to the ethical, social, and reputational risks it poses.
Nestlé has developed a strong Responsible Sourcing Standard with strict guidelines to prevent child labour among its suppliers.
Apple regularly audits its suppliers, including unannounced inspections, to ensure adherence to its Supplier Code of Conduct.
H&M partners with organizations like UNICEF to combat child labour risks in cotton-growing areas.

Question 8

What is corruption?

Answer 8

• corruption is
  “the abuse of entrusted power for private gain.
  When government officials are involved, bribes can
  be paid to obtain government contracts, or they
  can be as minor as trying to get government
  officials to do what they should be doing anyway”

Question 9

What are bribes?

Answer 9

Bribes are payments or promises to pay cash or
anything of value

Question 10

What are human rights?

Answer 10

Human rights – basic universal rights that
transcend social and cultural differences

Question 11

What is universal declaration of Human Rights?

Answer 11

Universal Declaration of Human Rights
(UNDHR) covered both basic freedoms and
social and economic rights (e.g., Social and
economic rights include right to a livelihood).

Question 12

How are human rights enforced?

Answer 12

Ratifying countries are obliged to incorporate the treaties into national law, but enforcement is often weak, e.g. child labour
How are MNEs affected?
 Duty to abide by national law
 MNEs must adhere to international law, even if national authorities fail to do so.
New UN protocol gives individuals redress for breaches of human rights
Individuals can take legal action in the European Court of Human Rights (ECHR) under the European Convention on Human Rights (ECHR)