Business Ethics and Corporate Social Responsibility (CSR)
6 important questions on Business Ethics and Corporate Social Responsibility (CSR)
Why have business ethics become more complex with the coming of globalisation?
2. Values vary across societies
3. Practises in certain locations also change overtime (e.g. Britain 19th century = child labour, Britain now = child labour is outrageous)
What are the characteristics of CSR?
2. Considers stakeholders and not just shareholders
3. Framework of ethical values
4. Managing external influences
5. See that businesses impact society and structure policies and practises around that
6. Economic and social responsibilities
What are the 4 responsibilities of CSR?
2. Ethical (accomplishing corporate goals through ethical behaviour)
3. Legal (required)
4. Economic (required, dividends to shareholders, staying profitable, etc.)
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What are the internal methods for business ethics and CSR?
2. Codes of practise (policies, sometimes issued by supranational bodies like UN)
3. Ethics department
4. Company reports
5. Employee induction and training (learn values and CSR from the beginning)
6. Whistleblowing (calling when another employee worked unethically)
7. Non-executive directors (not directly involved managers, so they operate based on experience)
8. Implicit mechanism (work through corporate culture, incentive schemes, etc.)
What are the external methods for business ethics and CSR?
2. Ethical investment measures
What are the strategic positions on business ethics and CSR?
2. Proactive: Implementation of ethically responsible policies, influence the whole industry
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
