Ethics, Corporate Social Responsibility, Environmental Sustainability & Strategy

8 important questions on Ethics, Corporate Social Responsibility, Environmental Sustainability & Strategy

School of Ethical Relativism:

Differing religions, customs, and behavioural norms, across countries and cultures give rise to multiple sets of standards concerning what is ethically correct (creates an issue for multinational companies)

Ethics and Integrative Social Contract Theory

Provides a combination of universalism and relativism; where local cultures or groups can specify what other actions may or may not be ethically possible.

How and why ethical standards impact the task of crafting and executing strategy

The litmus test measures the extent to which ethics is embraced in crafting strategy in operating day-to-day
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Drivers of unethical behaviour

  • Faulty oversight enabling the unscrupulous pursuit of profit and personal gain
  • heavy pressures on managers to achieve performance targets
  • a company culture that prioritises profitability

Moral case for an ethical strategy

Ethical strategy making is generally the product of managers with a strong moral compass

Business case for an ethical strategy

Pursuing unethical strategies damages company's reputation which could result in costly consequences (visible cost, internal administrative costs, intangible or less visible costs)

Triple bottom line

Companies wish to improve their triple bottom line (economic, social, environmental) through corporate responsibility

Business case for CSR and sustainable practices

  • Increase in buyer patronage
  • less risk in damaging reputation
  • well-crafted CSR and sustainable practices are in the stakeholders LR interest.

The question on the page originate from the summary of the following study material:

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