Business Administration & Management

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Business Ethics and Social Responsibility

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Business Administration & Management Mr. Bernstein Social and Ethical Responsibility February 2017

Business Administration & Management Mr. Bernstein Social Responsibility Duty to contribute to society Obligation to Stakeholders Customers Employees Investors Community Competitors Vendors* Is the business of America …business?

Business Administration & Management Mr. Bernstein Business Ethics More than just following laws and regulations Morally justifiable behavior Can vary from manager to manager, business to business or country to country Written Code of Ethics – values and rules that express the firm’s philosophy goals Written Code clarifies some dilemmas, but not all

Business Administration & Management Mr. Bernstein The Paramount Role of Business Ethics CEO of MCI Communications (now part of Verizon): At MCI, ethical conduct forms the foundation for our business success. Our commitment to high standards in no way diminishes out determination to aggressively pursue success in the marketplace as a superior provider of the industry’s most innovative products and services. Indeed, over the long term, being – and being recognized as – a highly ethical company will provide us with a sustainable competitive advantage. History has proven that while some may achieve short-term success by cutting corners, at the end of the day, only the true ethics leaders in industry will remain standing. We shall stand tall among them. Michael Capella’s Introduction to MCI’s Code of Ethics and Business Conduct

Business Administration & Management Mr. Bernstein A Famous Code of Ethics

Business Administration & Management Mr. Bernstein Kraft Foods 10-point Code of Ethics Make food that is safe to eat Market responsibly Treat people fairly Respect the free market Compete fairly Respect the environment Deal honesty with the government Keep honest books and records Never trade on inside information Give Kraft Foods your complete business loyalty From The Houston Chronicle, http://smallbusiness.chron.com/examples-code-ethics-business-4885.html