4.1 Social Responsibility and Business Ethics
Non-renewable resource
A natural resource that cannot be replaced when used up.
Code of ethics
A set of rules for guiding the actions of employees or members of an organization.
Employee training
Companies should regularly maintain programs to train employees on workplace safety.
Hazard protection
Companies should take steps to eliminate the risks of fire and other hazards.
Accident avoidance
Employers should make the workplace as safe as possible.
What are four areas of social responsibility that may require the attention of business?
Environmental protection, workplace diversity, Job safety, Employee wellness
What are the main benefits of social responsibility?
Expanded justice for groups of society, Enhanced company image, Reduced need for govt actions, Improved quality of life, Increased awareness of social issues
Ethics
Principles of morality or rules of conduct.
Business ethics
Rules about how businesses and their employees should behave.
Social responsibility
The duty of a business to contribute to the well-being of a community.
What is the purpose of a code of ethics?
To guide the actions of employees or members of an organization
Example of conservation
companies that consume trees have reforestation programs.
Conservation
saving scarce national resources.