Social and Ethical responsibilites of a business

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Presentation transcript:

Social and Ethical responsibilites of a business Introduction Study of right and wrong in business Social responsibilities to Everyone we are in contact with e.g stakeholders/environment How must we be responsible to each? Ethical business practice fair, legal, honest, morally right

How to encourage good behaviour MD lead, MD employ, code of ethics Code of ethics A document outlining expected behaviour of a business Stakeholders are: Customers Community Investors Local and global environment Employees

Characteristics of an environmentally friendly firm Aware of impact on local environment Consider environmental factors in decisions Invite public onto board Necessary precautions Open to new ideas/honest/consult others Measure social responsibility Strategies 3 R’s

How to manage social responsibility

Heavy fines, Goodwill lost FOR: For and against SR Against: Costly : wages, renewable production, audits Fix problems they’ve made, giving government too much of a role If no SR then possible Heavy fines and Goodwill lost Heavy fines, Goodwill lost FOR: Planning permission easier when SR Improve staff and industrial relations Put huge profits to good use Impress customer

Critical environment issues Population: 6 billion up 80m yrly Nuclear: 443 tonnes Irish sea Rainforests:130,000 km py extinct Wildlife Trnsport: 500m cars co2 Water: 1.5b no safe water Ozone toxic gases and sun rays Oil and chemical spills Need Green taxes on fuel

Env responsibilities for business Climate change Waste management Pollution Sustainable development

Conclusion Social responsibilities to stakeholders in individual ways. Argument for and against being responsible. Strategies to be more socially responsible. Environmental responsibilities to be sensitive to the environment etc. Characteristics of environmentally friendly firms. There are critical present environmental issues food (fish etc), general resources, oil.

Questions Explain S.R and Ethics Characteristics of a Env.Friendly firm Arguments for and against S.R Name strategies to manage S.R What Env issues are there.