1. A22: Business Ethics (how values and beliefs operate in a business) and Corporate Social Responsibility (attempts made by the business to behave in an ethical way)

2. Ethical Codes and Social Responsibility Charters Fair Employment Code of Practice Northern Ireland Act Disability Discrimination Act Sex Discrimination Act Equal Pay Act Fair Employment and Treatment Act Race Relations Order

3. Management Suppliers/Production Sales/Marketing Finance and Accounting Human Resources Intellectual Property and Skills Ethical Responsibilities of Business

4. Ethics as a Source of Competitive Advantage Marketing advantages Workforce advantages - Improvement in recruitment - Better retention of staff - Better employee motivation Public expectations - Better consumer views

5. Ethical issues Personal integrity Corporate integrity Environmental responsibility Social responsibility

6. Business Stakeholders (1) The Shareholder Concept (2) The Stakeholder Concept Shareholder Concept - Maximising Shareholder Wealth The objective for managers running a business should be profit maximisation, both in the short and long-term. Stakeholder Concept - A Wider Range of Objectives Apart from maximising shareholder wealth, includes goals relating to earnings per share, total sales, numbers employed, measures of employee welfare, manager satisfaction, environmental protection and many others.

7. Stakeholder Example Relocation of Head Office from A to B Employees in site A: - potential redundancies - concerns about family - housing- change in "living standards" New employees in site B: - job opportunities - training required Customers: - impact on supply of product or service Suppliers: - impact on supply costs - loss of trade for London-based suppliers- Government agencies: - regional development agencies - agencies providing other grants - employment training agencies Other groups: - environmental impact in Wales

8. Factors affecting Social Responsibilities Internal groups External groups Pressure groups Opinions Interests

9. Barriers to Corporate Responsibility Costs to the business of responsibility Beliefs of management Information withheld to consumers Information withheld from Government Information available to Pressure groups