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.