Business Ethics

  • Created by: _bella_
  • Created on: 10-03-19 14:19
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  • Key ideas of Business Ethics
    • Corporate Social Responsibilty
      • The social responsibility of a business is to increase profits is a controversial view held by Friedman
      • Friedman- "The purpose of business is to make me money and increase stockholder value"
      • Believed social responsibility shouldn't be forced by gov.
      • "Stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud
    • Whistle-blowing
      • Danger of loss of job
      • Erin Brockovich + pacific gas
        • A chemical had leaked into the water in surrounding areas, causing cancer in some cases.
      • person who exposes any kind of information or activity that is deemed illegal, unethical, or not correct within an organization that is either private or public
      • Lack of trust from employer/ future employer
    • Is good ethics good business?
      • Ford-  business that makes nothing but money is a poor business
    • Alternatives to Friedman's Theory
      • 3 main focuses of a company promoting CSR
        • The Environment
          • Being more green- despite the higher costs
        • The community
          • Participating in local charities and benefits
          • Take into consideration the effect on local economic  + social patterns
        • Their employees
          • If companies show their employees that they care about them the employees will care more about the company
    • Globalisation
      • Money can be moved easily
      • Transport is cheaper + faster
      • Faster communications
      • Consumer tastes have changed
      • Deregulation- increase in privatisation, so businesses can move to different countries for cheape rlabour
      • Free Trade

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