Business English Upper Intermediate U1S09 John Silberstein

Agenda Business Ethics

Ethics What is Ethics? Ethics (also known as moral philosophy) is a branch of philosophy that addresses questions about morality — that is, concepts such as good and evil, right and wrong, virtue and vice, justice, etc.

Business Ethics Ethics Meta-ethics, about the theoretical meaning and reference of moral propositions and how their truth-values (if any) may be determined; Normative ethics, about the practical means of determining a moral course of action; Applied ethics, about how moral outcomes can be achieved in specific situations; Moral psychology, about how moral capacity or moral agency develops and what its nature is; Descriptive ethics, about what moral values people actually abide by.

Business Ethics Ethics Four distinct but related disciplines have traditionally guided responsible business conduct: business and professional ethics, organizational ethics, corporate social responsibility, and corporate governance. The focus of all four approaches is the governance policies and management practices that inspire, guide, and support responsible business conduct.

Business Ethics Ethics Have large companies always considered ethical issues in relation to the environment? Their employees? Their customers?

Business Ethics Ethics What role do you feel ethics plays in business decision making? Can a business be ethical and successful?

Business Ethics Ethics What strategic reason would a company encourage a company to perform in an ethical manner? What tactical reason?

Business Ethics Ethics An RBE (Responsible Business Enterprise) is characterized by responsible business conduct at all four levels of its identity as an enterprise: 1. Compliance with the law 2. Risk management 3. Reputation enhancement 4. Value added to the community

Business Ethics Ethics Principal benefits coming to an enterprise that implements a business ethics program are: Enhanced reputation and goodwill Reduced risks Reduced costs Protection from unethical employees and agents Enhanced performance, productivity, and competitive position Expanded access to capital, credit, and foreign investment Increased profits and sustained long-term growth Increased international respect

Business Ethics Ethics When thinking about ethical companies, which companies come to mind?

Business Ethics Ethics Let’s look at Starbucks. Starbucks is successful and place an emphasis on corporate responsibility and ethics.

Business Ethics Ethics We've always believed that businesses can - and should - have a positive impact on the communities they serve. So ever since we opened our first store in 1971, we dedicated ourselves to earning the trust and respect of our customers, partners and neighbors. How? By being responsible and doing things that are good for the planet and each other.

Business Ethics Ethics Starbucks has identified 5 broad categories of corporate responsibility: Community, Environment, Ethical Sourcing, Wellness, Diversity.

Business Ethics Ethics Community As good neighbors we get involved with local efforts to bring people together and create positive change whenever we can. Community Service Youth (STARBUCKS)RED Starbucks Foundation Ethos Water Fund

Business Ethics Ethics Environment We’re finding ways to minimize our environmental footprint, tackle climate change, and inspire others to do the same. Recycling Energy Water Green Building Climate Change

Business Ethics Ethics Ethical Sourcing We’re committed to buying and serving the highest-quality, responsibly grown, ethically traded coffee to help create a better future for farmers. Coffee Farmer Support Tea Cocoa Store Products

Business Ethics Ethics Wellness Our dedication to wellness means supporting policies and efforts to improve the health of our communities in addition to offering balanced food and beverage options to our customers.

Business Ethics Ethics Diversity By welcoming a diversity of people and ideas to our business, we create more opportunities for learning and success that benefit customers, partners (employees) and suppliers.