1. Business Ethics

2. O Principles, values and standards that guide behavior in the world of business O Moral code – what is ‘right’ and what is ‘wrong’? O More complicated than individual ethics. WHY?

3. Stakeholders O Business responsibilities to stakeholder group O Shareholders – generate profits and pay dividends O Customers – provide good quality products at reasonable prices. Safety, honesty, decency, and truthfulness O Employees – health and safety at work, security, fair pay O Suppliers – pay on time, pay fair rates for work done, provide element of security

4. Stakeholders O Local community – provide employment, safe working environment, minimise polution O Government – abide by the law, pay taxes, abide by regulations O Management – their aims versus those of the organization as a whole O Environment – limit pollution, congestion, environmental degredations, development

5. Tensions O Profits vs higher wages O Expansion vs development O Production vs pollution O Supplier benefits vs consumer prices/lower costs O Survival of the business vs needs of the stakeholders

6. Business Ethics O Examples: O Production of children’s toys O Materials used, promotion O Coffee industry O Fair trade O http://www.youtube.com/watch?v=Nly_OdvORQY http://www.youtube.com/watch?v=Nly_OdvORQY O Music industry O Illegal downloads, file sharing O Jewellry – diamonds and gold O Miner’s working conditions & payment O http://www.youtube.com/watch?v=0hCl_RXqoZk http://www.youtube.com/watch?v=0hCl_RXqoZk

7. Ethics Check Questions O Is it legal? O Is it balanced? O How will it make me feel about myself?

8. Three practical reasons… O Customers are more confident O Ethical workplace motivates employees O Prevents legal problems

9. Why manage ethically? o To maintain a good reputation o To keep existing customers o To attract new customers o To avoid lawsuits o To reduce employee turnover o To avoid government intervention o To please customers, employees and society o TO DO THE RIGHT THING!

10. Ethical Culture O The component of corporate culture that relates to the principles, values and beliefs of what is considered to be normal, acceptable behaviour. O The ethical culture is the established patterns and decision making processes used by employees when faced with ethical issues.

11. Social Responsibility O The obligation of a business to maximize its benefit to all stakeholders with minimal negative social impact. O Their “public image” O What are some things that can hurt a company’s public image?

12. Socially Responsible Businesses O Provide goods and services in line with a society’s values O Are concerned about how customers are protected O Are concerned with how employees are treated O Are concerned about how the community is affected

13. Socially Responsible Businesses Adhere to… O The Right to be Safe O The Right to Choose O The Right to be Informed O The Right to be Heard O Employee Protection O Community Issues

14. Coca Cola Social Responsibility https://www.youtube.com/watch?v=B7dDSHw FgKk What are some key things that they are doing to improve their social responsibility? How is social responsibility different from business ethics?

15. What is sustainability? O https://www.youtube.com/watch?v=Kt9zQk U7W4U https://www.youtube.com/watch?v=Kt9zQk U7W4U O Write a definition of sustainability based on the information in the video.

16. Is this ethical? O https://www.youtube.com/watch?v=CUCSK 1QFwts https://www.youtube.com/watch?v=CUCSK 1QFwts O Write a ½ page response to this video telling me who is being unethical and in what way and give some solutions as to what they could have done differently.