Module 10

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Business Ethics
Social Responsibility
Environmental Sustainability
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Business Ethics
{ rinciples of conduct within

organizations that guide decision
making and behavior
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Business Ethics
{ |ode of Business Ethics

A document that provides behavioral
guidelines that cover daily activities
and decisions within the organization
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Ethics |ulture
{ Ethics training should include:

A message from the |EO
Development and discussion of codes
of ethics
rocedures for discussing and
reporting unethical behavior
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Ethics |ulture
{ Ôo align ethical and strategic decision

making:
Incorporate ethical considerations into long-
term planning
Incorporate ethical considerations into
performance appraisals
Encourage whistle-blowing
Monitor department and corporate
performance regarding ethical issues
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Bribes
{ A gift bestowed to influence a recipient¶s

conduct
{ Illegal in many countries, acceptable in others
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Business Ethics
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{ Actions an organization takes beyond

what is legally required to protect or
enhance the well-being of living things
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Social olicy
{ |oncerns what responsibilities the firm has to

its employees, consumers, environmentalists,
minorities, communities, shareholders, and
other groups
{ Should be considered during each stage of

strategy formulation, implementation, and
evaluation
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Social olicies on Retirement
{ uorker shortages in countries around the

world are leading to changes in retirement
and immigration policies
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Business Ethics
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{ Ôhe extent that an organization¶s

operations and actions protect, mend,
and preserve rather than harm or
destroy the natural environment
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{ Strategies of companies are scrutinized

and evaluated from a natural
environment perspective
{ Employees, consumers, governments,

and society are resentful of firms that
harm rather than protect the natural
environment
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Sustainability Report
{ Reveals how a firm¶s operation impact

the natural environment
{ Ôhese reports are not required, but are
a good business practice
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£ack of Standards |hanging
{ Making a claim that a product or

process is ³green´ is becoming more
difficult as standards are put into place
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Obama Regulations
{ èew ³clean technology´ business

start ups
Solar
uind
Biofuels
Insulation
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Managing Environmental Affairs in
the Firm
{ Managers must formulate strategies that preserve
and conserve natural resources and control pollution
{ Environmental strategies could include
Developing or acquiring green businesses
Divesting or altering environment-damaging
businesses
Striving to become a low-cost producer through
waste minimization and energy conservation
ursuing a differentiation strategy through green
product features
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Students and Environmental Ôraining
{ |ompanies prefer to hire graduates

with training in environmental
issues
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Reasons uhy Firms Should ³Be
Green´
{ |onsumer demand
{ ublic opinion
{ Environmental advocacy groups
{ Federal and state environmental regulations
{ £enders
{ |onsumers, suppliers, distributors, and
investors
{ £iability suits and fines
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Be roactive, èot Reactive
{ roactive ± do more than the bare

minimum
{ Reactive ± changing only when
forced to by the law or consumer
pressure
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ISO 14000/14001 |ertification
{ International Organization for

Standardization (ISO)
{ A network of standards institutes of 147
countries
{ £argest developer of sustainability
standards in the world
{ |ompliance is voluntary
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ISO 14000/14001 |ertification
{ ISO 14000 - a series of voluntary standards

in the environmental field
{ ISO 14001 ± a set of standards included
within ISO 14000
Adopted by thousands of firms worldwide to
certify that they are conducting business in
an environmentally friendly manner
Results in an environmental management
system (EMS)
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Electric |ar èetworks
{ Government funding for manufacturing

{ Recharging stations being installed in many
cities
{ Extensive research and development within
the auto industry
{ |ompanies are replacing gasoline powered
vehicles with hybrid electric-natural gas
vehicles
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March 2009 |openhagen Meeting
{ Scientists warned that global warming is

worse than expected
{ |ompanies and governments encouraged to
vigorously implement strategies to cut
greenhouse gases
{ Kyoto rotocal expires in 2012
{ Results of March 2009 |openhagen Meeting
are expected to replace the Kyoto rotocal
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{ rinciples of conduct within

{ |ode of Business Ethics

{ Ethics training should include:

{ Ôo align ethical and strategic decision

{ A gift bestowed to influence a recipient¶s

{ Actions an organization takes beyond

{ |oncerns what responsibilities the firm has to

{ Should be considered during each stage of

{ uorker shortages in countries around the

{ Ôhe extent that an organization¶s

{ Strategies of companies are scrutinized

{ Employees, consumers, governments,

{ Reveals how a firm¶s operation impact

{ Making a claim that a product or

{ èew ³clean technology´ business

{ |ompanies prefer to hire graduates

{ roactive ± do more than the bare

{ International Organization for

{ ISO 14000 - a series of voluntary standards

{ Government funding for manufacturing

{ Scientists warned that global warming is

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{ rinciples of conduct within

{ roactive ± do more than the bare