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Business & Management Course Companion, 2009. p31-41 Oxford University Press
Ethical Objectives
Ethics is the branch of philosophy concerned with the rules of human behaviour. It considers what is right and wrong and examines how moral principles and values are created and evolve. Setting ethical objectives is therefore a process by which organizations apply ethical values to their targets and establish basic principles about their behaviour in achieving these targets.
Ethical Objectives
Ethical values cover all aspects of business conduct. This includes: corporate strategies. treatment of employees. treatment of suppliers. sales and accounting practices Most activities of business have some ethical features.
Ethical Behaviour
Ethical behaviour goes beyond the legal requirements placed on a business, as it concerns discretionary decisions and behaviour; in other words, what a business chooses to do, rather than what it is forced to do. Business ethics are relevant both to the conduct of an individual within an organization and to the conduct of the organization as a whole.
Strategic Questions & Ethical Issues Is it ethical to target young children with advertising messages? Is it ethical to manufacture products that are used to kill? Eg: The arms industry? Is it ethical to look for loopholes in the law to avoid paying tax?
Famous Quotes about CSR? Conducting your business in a socially responsible way is good business. It means that you can attract better employees and that customers will know what you stand for and like you for it
(Anthony Burns, CEO Ryder Systems (1944-)
SOCIAL AUDITING
The purpose of a social audit it to assess the impact of an organization s operations on its stakeholders and wider society. It is a similar process to a financial audit as the organization generates a set of a `social accounts` that evaluate social performance against non-financial criteria and benchmarks. However, unlike financial auditing there are no legal obligations on an organization to carry out a social audit, although it helps the business address potential problems that might later lead to legal liability.
SOCIAL AUDITING
A strong emphasis on health and safety may mean the organization avoids prosecution for any accidents caused by the negligence of the organization and its employees. Social auditing should also result in more informed planning and better management.
Social Auditing will result in new objectives and targets relating to:
Environment This includes, pollution, waste disposal, and resource depletion. Energy use - business practices to improve energy efficiency. Human Resources HR and the treatment of employees and other individuals in the distribution chain this could cover issues relating to recruitment, promotion, health, safety and remuneration.
Social Auditing will result in new objectives and targets relating to:
Community Programmes The business helps organize or fund community based initiatives in education, the arts or the environment. Product & Service Quality There is an emphasis placed on the durability and safety of the products sold and honesty of services provided.