...capture Corporate Social Responsibilities Responsibilities of firm to balance 3P Minizing negative and maximizing positive impacts on society Business Ethics Norms guiding and regulating behaviors right-wrong, acceptable-unacceptable Corporate Governance Procedures, mechanisms to make sure suppliers of finance get return on investment 1 3/21/2015 Govern ment The Media Owner s Directo rs Employ ees Primary Secondary Internal Custo mers/C onsum ers Educati onal instituti ons External Society Stakeholder model Lender s/credit ors NGOs Supplie rs Service profess ionals Compe titors Busine ss organis ation Dealer s/distri butors 2 3/21/2015 Potential Ethical Implications in Business Operations OWNERS Reporting Minority shareholders Fair dividends EMPLOYEES Hiring practices Firing practices Wages & working conditions Private lives vs company lives Discrimination Honesty Unions Conflicts of interests Secrecy & espionage CONSUMERS & CUSTOMERS Advertising Packaging Product safety Deception, overselling Price fixing discriminatory pricing Collusion with competitors COMPETITORS Price fixing Unfair competition Pricing below cost Stealing personnel Industrial espionage GOVERNMENT Laws compliance Political contributions for favors Lobbying Honesty in tax return Accurate reporting SOCIETY AT LARGE Corporate citizenship Respect for the environment Discrimination in employment practices Conditions to corporate giving CREDITORS/LENDERS...
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...Business Ethics MGM250 Andrea Matcham New England College of Business and Finance August 24th, 2012 Topics Covered: * Introduction about the course * United Nations Global Compact’s CSR Principles * Pluralism * Strategic Management * Crisis Management * Climate of Trust * Creativity, A Climate of Innovation * Bribery and Corruption * Unethical Practices * MNC: Ecological Sustainability * Renewable Energy Sources – The advantages * Sarbanes-Oxley * Whistleblowers’ Act * Discrimination Based on Gender * Religious Discrimination * Conclusion * References This course encouraged us to explored and developed a higher thinking and reasoning behind business morals and ethical issues. Our primary focus was to examine the issues facing the financial world pertaining to public issues in mergers, management versus stockholders’ interest, and the changing nature of the stockholders. In addition, we covered ethical dilemmas that investors, managers, analysts, brokers and employees confront in business. We went into depth analyzing case studies, researching and discussions on these current events that affected the core of business ethics at work, in society and on a global level. Our first week, we discussed Corporate Responsibility in society and business today. I wrote about the importance of having good ethical guidelines at a global level. The United Nations initiated a Global Compact containing ten principle...
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...Petroleum Industry: Corporate Governance Report GROUP 9 INDIAN OIL Corporation Corporate Governance Philosophy IndianOil believes that good Corporate Governance practices ensure ethical and efficient conduct of the affairs of the Company and also help in maximizing value for all its stakeholders like customers, employees and society at large in order to build an environment of trust and confidence among all the constituent IndianOil recognizes that good Corporate Governance is a continuous exercise and reiterates its commitment to pursue highest standards of Corporate Governance in the overall interest of all its stakeholders Corporate governance framework Code of Conduct for Directors and Senior Management Personnel Code of Conduct for prevention of Insider Trading Enterprise Risk Management Policy Integrity Pact to enhance transparency in business Whistle Blower Policy Conduct, Discipline and Appeal Rules for employees Corporate Social Responsibility / Sustainable development Human Resources initiatives Board of Directors 2011-12 2012-13 2013-14 Chairman 1 1 1 Director 7 7 7 Govt. nominee director 2 2 2 Independent director 6 5 8 Board of directors (2013-14) Board of directors (2012-14) Board of Directors (2011-12) Board meeting (2013-14) The meetings of the Board of Directors are generally held once in a month. During the financial year 2013-14...
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...| | Business Law and Corporate EthicsBe Careful What You Sign| | Tiffany Sigala| 7/30/2014| The purpose of this essay will be to state my opinion of which country the dispute should be handled in.| If Letisha does not pay and Sudson sues her for breach of contract, what legal arguments could be raised in Letisha’s defense against the enforcement of the automatic renewal clause? According to definitions.us.legal.com, some state and local laws do not enforce automatic renewal clauses are. Without knowing what state or locality she lives in, it would be hard to tell for sure if this fact would help her or not. It is important to not only read the full contract before signing it, but also consult state and local laws. In an article found on www.kirchenbaumesq.com[->0], sometimes a renewal clause that shocks the court might not be enforced. This might be something that works in Letisha’s favor because part of Sudson’s renewal clause is that the lease will renew for three terms of five years each, which seems a bit outrageous. The same website says that some states also require companies to send out a notice advising customers of the provision for automatic lease renewal. It does look like Letisha may have a couple of ways that she might be able to get out of paying Sudson’s for another fifteen years. What legal arguments could be raised by Sudson in support of the enforcement of the automatic renewal clause against Letisha? The only argument I can find is that...
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...Business Ethics and Corporate Responsibility Introduction Corporate Responsibility or Corporate Social Responsibility (CSR) has been a term coined in the previous century in order to define the social responsibilities of corporate heads and their corporations in securing the trust of its community by determining and fulfilling its roles towards the betterment of society. Simply following the rules set down by legislation would not do; corporate authorities and workers alike were demanded to be ethically inclined and considerate of how their actions affect society in general, both as residents and providers within their immediate communities. But both ethics and responsibility are vague terms, and prior to the 19th to 20th centuries, neither of them has been attached to business entities like corporations. Business ethics and corporate responsibilities, then, are much vaguer terms in that they entail more than simple and faithful provision of goods and services to people; some may even think that corporate giants and ethics do not exactly go together, or even share a superficial partnership. But these revolutionary concepts have played a major role in redefining corporations in the 21st century; these conceptual standards remain strong factors towards corporate determination of company action and assessment of overall company performance today. This paper will discuss business ethics and corporate responsibilities as sister terms, but also as discrete concepts, both of which...
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...Business Ethics and Corporate Strategy Ethical Issue Paper Travis G. Stoufer Business Ethics-BUS 323 Janet Evelyn-Dorsey January 29, 2010 Abstract A paper presented on the growing issues of business ethics and the decisions consumers and producers make when moral and ethical responsibilities are in question. Paper presents tools for consideration for tomorrow’s leaders and gives a general overview of strategies corporations take to limit legal responsibility in ethical matters that include; hiring of undocumented workers, strategies such as breach and pay, document retention, and rewriting policy on employees instead of treating them with dignity and respect. The paper discusses the viewpoint of ethical responsibilities with primary stakeholders in mind. The primary stakeholders for consideration in this paper would be employees, consumers, managers, and CEO’s. This paper argues corporate strategies such as breach and pay, document retention, and hiring of undocumented workers is unethical. Corporate strategies of this sort are unethical and consumers should align the purchases of goods and services with companies that participate in corporate social responsibility. BUSINESS ETHICS AND CORPORATE STRATEGY Table of Contents Abstract……………………………………………………………………………………ii Table of Contents…………………………………………………………………………iii Introduction…………………………………..…...……………………………………….1 Background……………….…………………...………………………………………...1-2 Analysis..……………………………..……..…………………………………………...
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...Corporate Social Responsibility for Business The purpose of this recommendation report is to help enterpriser to recognize the importance of corporate social responsibility for the business. There is more intense scrutiny from public toward business since the past thirty years because business caused many problems that are criticized much by public and society such as unacceptable ethical behaviors, deteriorating environment cased by business activities and so on. As a result, a concern of Corporate Social Responsibility (CSR) had generated during that time. Many people believe CSR is good for business based on the socioeconomic view of social responsibility (Robbins, Bergman, Stagg & Coulter, 2005). This report is in favour of the view that the CSR is good for business by considering the economic, legal, ethic and philanthropic advantages of CSR in business. From the impacts of CSR to business’ economic positions, there are three advantages for business, which are secure long-run profits for companies, improvement of shareholder’s interests in the long run, superiority of avoidance of negative social or environmental impact and Improvement of public image and supports from public expectations respectively. • Secure long-run profits for companies CSR can help companies maintain long-range self-interest. That is to say, many of social problems caused from business activities seriously deteriorate the social condition that may become unhealthy climate for business’...
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...Explain Corporate Scenarios and then describe how they can have an effect on the formulation and implementation of a firm’s strategy. Business scenarios are an imperative strategy that may be utilized preceding, and as a key info to, the improvement of the structural engineering, to determine the qualities of the Technical Architecture specifically from the abnormal state prerequisites of the business. They are utilized to recognize and comprehend business needs, and along these lines to infer the business prerequisites that the building design advancement needs to address. A business situation is basically a complete portrayal of a business issue, both in business and in building terms, which empowers singular prerequisites to be seen in...
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...Business and Corporate Social Responsibility Research Paper Bussines and Corporate Social Responsibility 1.0 Introduction: Corporate Social Responsibility means the way in which business firms integrate environmental, economic and social concerns into their culture, values, strategy, decision making and operations in an accountable and transparent manner and, therefore, leading to better creation of wealth, an improved society and better practices in the business organization. Activists, the media and governments all over the world have become adept by holding their organizations or enterprises to account for the social impacts of their actions. It is in this response that the use of Corporate Social Responsibility (CSR) has emerged to be one of the inescapable top priorities for various business leaders or managers all over the globe. However, the fact remains that many current approaches to Corporate Social Responsibility are quite disconnected from the initial strategy of various companies or firms using it. In order for business enterprises to contribute significantly towards their key competencies, then they should treat Corporate Social Responsibility as something that is central and vital towards their business strategy. The aim of this research paper is, therefore, to explain the importance of Corporate Social Responsibility in business organizations and ascertain how various organizations apply it to achieve various objectives of their business firms (Banerjee,...
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...Vol. 12, No. 1, 23–34, January 2007 CORPORATE GOVERNANCE IN MALAYSIA: THE EFFECT OF CORPORATE REFORMS AND STATE BUSINESS RELATION IN MALAYSIA Nor Azizah Zainal Abidin 1 and Halimah @ Nasibah Ahmad2 1 Faculty of Public Management and Law, 2 Faculty of Accountancy Universiti Utara Malaysia, 06010 Sintok, Kedah, Malaysia ABSTRACT The Asian Financial Crisis in 1997 not only introduced the term of corporate governance but also drew attention of the public about the weaknesses of Malaysian corporate governance practice. After 1998, Malaysian government decided to adopt corporate reform that could enhance the quality of good corporate management practice. This reform is clearly stated in the code and rules of corporate governance. The purpose of this research is to study the significance of implementing the code and rules of corporate governance since the public already realize the close relationship between business and politics. Three companies were chosen as indicators for this study. As a result, it was found that companies which are involved in corporate malpractice but have good relationship with states will always be excluded from the legal corporate action. Keywords: corporate governance, corporate reforms, political economy, state business relation INTRODUCTION Asian Financial Crisis in 1997 not only introduced the term of corporate governance but also drew attention of the public about the weaknesses of Malaysian corporate governance practice. After 1998, Malaysian...
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...Business Ethics and Corporate Social Responsibility April Duhon DeVry University The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? The effectiveness of the laws that the United States have that are intended to further fair, balanced, and competitive business practices depends on how ethical a business is. Below I will explain why I do not believe these laws are effective due to the way ethical businesses follow the law and unethical businesses do not follow the law. In response to the growth of monopolies that threatened to destroy competition in the marketplace Congress passed the Sherman Antitrust Act in 1890. According to the Encyclopedia of White-Collar & Corporate Crime, “The Sherman Act was officially enacted because companies in various industry groups were attempting to eliminate their competition in the marketplace, thus hurting the economy.” (Encyclopedia of White-Collar & Corporate Crime, 2004, p. Introduction) The Sherman Act has two provisions in place to prevent this. The first stops the restraints of trading between states or foreign nations and the second makes monopolies illegal. The penalties for violating the Sherman Act are severe and include prison time of up to 10 years and a $1 million dollar fine for Individuals and $100 million dollar fines for businesses. The Clayton Act was passed by congress in 1914 to...
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...Business Ethics and Corporate Social Responsibility Business Ethics and Corporate Social Responsibility The Business Ethics and Corporate Social Responsibility (CSR) article focuses on the dilemma between business ethics and social responsibility in business organizations. Issues related to social responsibility and sustainability are becoming more important in today’s economic and social environments, especially in the business sector. The article makes the case that ethics and the corporate responsibilities are inter-related. “Business goals are inseparable from the societies and environments with in which they operate.” The author states three reasons why social responsibility and business ethics are important: 1) People want to buy from ethical businesses. Companies have to satisfy their customers and achieve their main goal of earning a profit. 2) People want to work for ethical businesses. Employees in ethical businesses are more likely to work harder for the same or sometimes less pay than their “cut-throat counterparts. 3) People want to partner with ethical businesses. Businesses partner with socially responsible and ethical businesses more frequently than other less socially responsible organizations. The article concludes that many organizations are aware of the critical need for ethics in their business culture; however, there is still room for improvement. “Progress is limited by the reality that CSR remains a purely voluntary, self-regulated...
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...|BUSINESS ETHICAL BEHAVIOR & CORPORATE SOCIAL RESPONSIBILITY | | | |Student’s Name:Renee Giordani | | | |Course Title:Sales Management | | | |Professor:Gene Dichiara | | | |SUNY EMPIRE STATE COLLEGE | | | |Date: December 09, 2014 | Business Ethical Behavior & Corporate Social Responsibility: Why Organizations Must Have IT Corporate Social Responsibility has gradually developed into one of the greatest ethical aspects that have to be adhered...
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...Customer Relationship and Corporate Governance in Sustainability of Business Vinod Krishna U. Makkimane Sr.Faculty Institute of Business Management & Technology Banashankari 3rd Stage, Bengaluru. Sustainability is a dynamic concept born out of the environmental debate of the last quarter century. There is growing concern nationally and internationally about biodiversity and protection of plants and animals and community based activity. It is important to view sustainable efforts from global perspective that addresses socio-economic and environmental issues. Sustainable Development as a norm has been accepted in the literature ever since the publication of the Brundtland Commission report in 1987.The Brundtland Commission defined Sustainable Development as that which "meets the needs of the present without compromising the ability of the future generations to meet their own needs". A primary goal of sustainable development is to achieve a reasonable and equitably distributed level of economic well being that can be perpetuated continually for many human generations. It also implies using renewable natural resources in a manner that does not eliminate or degrade them, or otherwise diminish their usefulness for future generations. Sustainable development also requires depleting non-renewable energy resources at a slow enough rate so as to ensure the high probability of an orderly society transition to renewable energy sources. Mahatma Gandhi has observed long back that...
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...The potential business benefits of corporate social responsibility 目录 Executive summary 3 Introduction 3 What is corporate social responsibility? What is social responsibility reporting? What’s the importance of it? 3 What kind of the benefits company can get by taking corporate social responsibility? 4 Human resources 5 Risk management 5 Brand differentiation 5 License to operate 6 Company Expansion 6 Conclusion 6 Bibliography 7 Website 7 Book 7 corporate social responsibility and profit Executive summary In this report is illustrating the potential benefits for companies to perform the Corporate Social Responsibility. Corporate Social Responsibility Although the cost is huge, it can turn into some benefits to assistant company running, such as in the aspects of risk management brand differentiations, License to operate and company expanding, the company can have some potential benefits to help make long term profits and sustainable growth. And the public need companies to perform what social responsibility they have taken for decision making and other uses. Introduction In the increasingly complex and spectacle world, such as corporate scandals and uncertainty economy have diminished trust in corporate sector.(business report)Therefore, the requirement for companies to implement and perform a corporate social responsibility...
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