ETHICS- is a set of principles that guides people’s behaviour and judgement.
- good or bad and with duty and obligation. ETHICAL ISSUE- refers to concern on which an individual must decide based on several alternatives on what is morally right or wrong. BUSINESS ETHICS- are principles that guide managers whoever they are confronted by ethical issue in the business. CIVIL SOCIETY- a type of organization founded to promote the interest of local community. FIVE GUIDING PRINCIPLES OR PERSPECTIVES IN EHTICS 1. UNIVERSALISM- states that all people should have certain values like honesty, respect and cooperation. 2. EGOISM- focuses on the on the promotion of the greatest good to oneself. - self-centered attitude/ advancement. 3. UTILITARIANISM- focuses on the greatest good for the greatest number of people. - make decisions that are beneficial to the greatest number of people. 4. RELATIVISM- is an ethical perspective where ethical behaviour is based on person’s own and other relevant people’s opinions and viewpoints. 5. VIRTUE ETHICS- believes that what is moral depends on the maturity of a person with good moral character. CORPORATE INTEGRITY- refers to that sense of wholeness created by the right relationships among the members of the organization. FIVE DIMENTIONS OF CORPORATE INTEGRITY 1. CULTURAL DIMENTIONS- it has the most impact on the internal relationship in the company. * Managers are encouraged to establish an open atmosphere that will facilitate communications among people with different cultures and background. 2. INTERPERSONAL DIMENTIONS- focuses on the relationships among people. This includes family relationships, civic life and work relations. 3. ORGANIZAIONAL DIMENTIONS- considers the main purposes of the business, particularly the economic and financial purposes, managerial purposes and civic purposes. 4. SOCIAL DIMENSIONS- views the organization as actively engaging with society, a significant social element in the community. 5. NATURAL DIMENSIONS- looks into hoe the organization relates to nature, business operations and activities impact the environment. CORPORATE SOCIAL RESPONBILITY - refers to the engagement of a business firm in activities that pursue goals that are beneficial to society. TWO RELATED CONCEPTS OF CORPORATE SOCIAL RESPONSIBILITY 1. CONCEPT OF SOCIAL OBLIGATIONS- complying with legal and ethical standards to uphold social welfare. 2. SOCIAL RESPONSIVENESS- goes beyond the prescribe standards and implements actions that aim to make an impact on society, protect the environment, recycle materials, illegal logging & pollutions. FOUR SOCIAL RESPONSIBILITIES 1. ECONOMIC RESPONSIBILITY- the company should produce goods and services with reasonable prices. 2. LEGAL RESPONSIBILTY- the organization should comply with the local & international laws that apply to its business operations. 3. ETHICAL RESPONSIBILITIES- include establishing norms, standards, moves and practices that reflect to the consumers, employees, shareholders, and the community. 4. PHILANTROPIC RESPONSIBILITIES- include the initiation of voluntary activities such s establishing corporate programs, donating charitable institutions and other causes