helps or harms sentient creatures". Deducing from the line defined by several parties to develop the concept we can come up with a definition for business ethics, it can be defined the yard sticks, criteria and standards that guide behavior in the world ofbusiness. Ethics forms an integral part of day-to-day business transaction, this is because the business transactions are handy in every society and this form the backbone of mutual interdependence and survival. Ethical values and legal principles
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system is under siege. In recent years business increasingly has been viewed as a major cause of social, environmental, and economic problems. Companies are widely perceived to be prospering at the expense of the broader community. Even worse, the more business has begun to embrace corporate responsibility, the more it has been blamed for society’s failures. The legitimacy of business has fallen to levels not seen in recent history. This diminished trust in business leads political leaders to set policies
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Introduction What is the purpose of a company? Well, if the company is a for-profit business then the common answer (and usual bottom line) is to make a profit. How a company does this varies by industry, competition and economic conditions. However, in the modern business environment a new component is being added to a company’s purpose; that is for a business to adapt corporate social responsibility (CSR) as a policy or to embed it into operation plans. In fact, many firms are adopting CSR concepts
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Corporate Social Responsibility The concept of corporate social responsibility (CSR) over time has expanded its influence to many enterprises and concerned organizations, required those must consider how their activities affect the surrounding society such as communities (human rights, labor issues,...), environmental protection,… World Business Council for Sustainable Development (WBCSD, 1999) as cited in Wong & Ahmad (2010) gave the most common definition of CSR as: “the continuing commitment
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Economics and Global Business Communications Name Course Instructor Date Competency 309.1.1: Marginal Analysis A.1. Profit maximization is the desire and target of all trading companies that operate in various industries, in different markets (Taylor & Weerapana, 2012). They must first of all produce products for sale to achieve the same. This production results into various financial costs that have to be overcome with the revenue from the
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Internationally Business ethics is the accepted principle of right or wrong governing the conduct of business people (Hill, 2013). Outsourcing refers to a company that contracts with another company to pro ide services that might otherwise be performed by in-house employees (www.webopedia.com). Outsourcing continues to increase as companies struggle to stay competitive and profitable. There is a continued increase for companies to find new ways to cut overhead expenses and increase profits so companies
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depend upon the constant upkeep of training current employees to be the best fit for the organization while upholding the company’s code of conduct to fit the current times. When a company invests in the people and the environment the return is greater profit and a stronger sense of belonging in the community. Customer and employee loyalty are what can pull any organization through the tough current economic downturn. Current ethical issues faced by West Coast Grape Growers involve environmental concerns
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evident to local businesses in communities where WM opens its doors. Wal-Mart Case Study Wal-Mart and Corporate Social Responsibility The WM case study describes several major issues. The biggest concern is the affect that WM has on local businesses and if they have any responsibility to them. The case study further describes WM’s ability to focus its muscle on social concerns, such as the “buy America” or “environmental campaigns” that were popular during the 1990s. The third major
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2 A CASE STUDY OF CORPORATE SOCIAL RESPONSIBILITY: A SUSTAINABLE TOOL OF COMPANIES’ DEVELOPMENT IN VIETNAM By HOANG THUY HANG October 2011 Supervisor: Dr. PHAM DUC HIEU ABSTRACT With the increasing effects of ASEAN over the world, Vietnam is an ideal market for corporations. Furthermore, becoming the member of WTO since 2007 is an opportunity as well as the threats for local companies. Following the globalization trend, corporate social responsibility (CSR) has been the vital issue in
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Ethics Paper Ethics and social responsibility are a part of any organizations strategic management plan. An organizations values and ethics will determine the organizations success. The responsibility of an organization does not end with making a profit. Many times an organizations decisions effect more than the organization itself. The decisions of an organization impact the environment, community, economy, and the world. Organizations have a lot of responsibilities that need to be in order for
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