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Chapter 5

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6 views3 pages

Chapter 5

Uploaded by

Agnes Ampo
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UNIVERSITY OF CEBU (UC)

GRADUATE SCHOOL
Sanciangko St., Cebu City

SOCIAL RESPONSIBILITY AND GOOD GOVERNANCE (BM 228)

REACTION PAPER

Masterand: Agnes C. Ampo Course: MBA


Professor: Dr. Eddie E. Llamedo Schedule: BL1 Sat, 12:00nn-4:30pm

Chapter 5: Ethics and Corporate Social Responsibility for Business Global


Business Place

Introduction

Ethics are vital in businesses and all aspects of living. The foundation of

society is built on Ethics. Without ethical principles a business/society is bound to be

unsuccessful sooner or later. Business Ethics look at ethical philosophy, moral or

ethical problems and deal with issues concerning the moral and ethical rights, duties

and corporate authority between a corporation and its shareholders, workers, clients,

media, government, provider and dealer. Ethics are connected to all discipline of

organization including accounting information, human resource management, sales

and marketing, fabrication, logical belongings information and talent, global business

and financial system.

Topic Summary

Ethics are the moral standards you rely on when you make a decision. They

define what’s right and wrong, and outline the kind of behavior that businesses

should not engage in. For responsible decision making in a business environment, a
good set of ethics is the key. "what should be done" It is a management concept

whereby companies integrate social and environmental concerns in their business

operations and interactions with their stakeholders. Although the two are linked in

most firms, CSR activities are no guarantee of ethical behavior

Emergence of ethics and corporate social responsibility during the last 20 years

The emergence of ethics and corporate social responsibility as a prerequisite

in the global business is recognized phenomenon.

Sustainability – It emphasize that we have to think and act today in terms of intergen-

erational ethics so that our next generations will have at least the same conditions

we enjoy, to live their own lives.

Corruption – This is another issue that was widely underestimated in the 1980’s and

then turned out to be a very serious problem in developing and developed countries.

Human rights – The responsibility of the companies with respect to human rights, tra-

ditionally, it was up to specific countries to make sure that the human rights codified

in international declarations and conventions were incorporated into national laws,

and enforced by national governments.

"Global business place" is characterized of applied ethics with implications for busi-

ness ethics. Evolving perspectives are delineated for business ethics in global arena.

In the 1980's we hardly could have predicted the explosive and rising ethical expec-

tations and initiatives regarding business behavior that have emerged worldwide

over the past two decades.

Arguments of Business Ethics include argument of scandals, argument of econo-

mization, argument of good business, argument of challenges.


Recommendation

As far as the presentation of the report is concern, it would help if the re-

porters give more examples or situations to help us understand the concept. The

voice modulation was good. It just the pacing of the report is quite fast. There should

also be interaction between the reporter and the co-masterands. It would help to call

out some names and let them participate like read some lines from the presentation.

Conclusion

A company which sets out to work within its own ethical guidelines is also less

at risk of being fined for poor behavior, and less likely to find themselves in breach of

one of a large number of laws concerning required behavior. Reputation is one of a

company’s most important assets, and one of the most difficult to rebuild should it be

lost. Maintaining the promises it has made is crucial to maintaining that reputation.

Businesses not following any kind of ethical code or carrying out their social respon-

sibility leads to wider consequences. Unethical behavior may damage a firm’s repu-

tation and make it less appealing to stakeholders. This means that profits could fall

as a result.

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