1. T HE R ELATIONSHIP BETWEEN B USINESS AND S OCIETY Chapter 1

2. S OCIETY ’ S E XPECTATIONS Complex Not focusing on right and wrong Analysis of problems and issues from a variety of perspectives

3. P ERSPECTIVES Looking at a variety of perspectives Shareholders / Managers Employees Unions Government Environmentalists Media Other businesses Consumers

4. U PCOMING T ERMINOLOGY Page 4, Chapter 1, Table 1.1 Corporate Social Responsibility (CSR) Corporate Sustainability (CS) Triple-E (economic, ethical, and environmental) Bottom Line Corporate Citizenship Ethics of Business Stakeholder

5. T HE C ANADIAN B USINESS S YSTEM Public Sector Private Sector Nonprofit Sector

6. T HE C ANADIAN B USINESS S YSTEM Economic system – use resources to meet needs Capitalism – private ownership Free enterprise system – competition Laissez-faire capitalism – minimal government role USCanadaChina Capitalism Mostly Capitalism Blend Mostly Socialism Socialism

7. T HE C ANADIAN B USINESS S YSTEM Responsible enterprise system – accountability Stakeholder capitalism – Not just the bottom line Mountain Equipment Coop Pros to Capitalism Freedom of choice, high productivity, high standard of living Cons to Capitalism Appalling working conditions, unsafe products, stock manipulation, misleading advertising, pollution

8. M ORALITY OF C ANADIAN B USINESS Diversity of business interests Every industry operates and interacts very differently Foreign ownership and influence Each country has its own values and perspectives Resource-based economy Raw materials Single industry towns Fort McMurray (p.8, Everyday Ethics 1.3) Importance of trade Operate in a global economy

9. M ORALITY OF C ANADIAN B USINESS The influence of small business Represent the majority of businesses “Bigness” in the business system Some industries are run by a few big players Oil, pharmaceuticals, tobacco Government presence Larger in some industries over others Has been decreasing

10. T YPES OF B USINESSES Sole / Single Proprietorship One owner Partnership Two or more owners Corporation Separate legal entity Private or public

11. K EY P LAYERS Owners Board of Directors Managers

12. A CCOUNTABILITY AND M ORALITY Key Players Legally accountable Society Expectations Corporate Social Responsibility (CSR) Media Blood Diamond The Corporation Documentary Accountable to what?