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Chapter 2
Business Ethics and Social Responsibility
Chapter Outline
Introduction Business Ethics and Social Responsibility The Role of Ethics in Business Recognizing Ethical Issues in Business Improving Ethical Behaviour in Business The Nature of Social Responsibility Social Responsibility Issues

Objectives
After reading this chapter, you will be able to: • Define business ethics and examine its importance. • Detect some of the ethical issues that may arise in business. • Specify how businesses can promote ethical behaviour. • Define social responsibility and explain its relevance to business. • Debate an organization’s social responsibilities to owners, employees, consumers, the environment, and the community. • Evaluate the ethics of a business’s decision.

Enter the World of Business
The Leopard Did Change His Spots—They Grew
The son of a wealthy brewery executive, Conrad Moffat Black was born August 25, 1944, in Montreal. After leaving home at age 18, he earned a history degree at Carleton University, a law degree at Laval, and an MA from McGill. An avid student of history, he has written several books (including an autobiography) about political figures such as Maurice Duplessis, Napoleon, and most recently, Franklin Roosevelt. Mr. Black purchased his first newspaper, the Sherbrooke Record, when he was 25 years old. Two years later, he added about 20 Canadian newspapers to his belt with the acquisition of the Sterling Company chain. Five years later, at age 33, he gained control of Argus Corporation (the parent company of Massey-Ferguson, a then prominent maker of farm machinery) and Domtar mining, and he acquired other interests including of course, more newspaper companies. The audacious, and some say ruthless, businessman followed a system of buying up titles in trouble, and then selling assets and downsizing until at one point he controlled more

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