About This Chapter
Ethics in Business Today - Chapter Summary
The business experts who lead these lessons teach you about the roles of social responsibility and public relations in business and introduce key terms like worker privacy and community goodwill. You'll examine the ethics of balancing stockholder and stakeholder interests in a business as well as the ethics of the employer-employee relationship. This chapter introduces you to factors that affect a business's decisions about corporate philanthropy and public-private partnerships. After watching the videos in this chapter, you'll understand:
- Conflict of interest in business
- Corporate social responsibility
- Community goodwill
- Business communication
- Five stages of corporate citizenship
- Effects of the employee-employer relationship on stakeholders
These lessons use self-paced video lessons with engaging graphics and animations to make learning about business ethics easy and fun. You can watch all the lessons in order to solidify your knowledge of the important concepts in this chapter, or you can watch just the lessons you need to brush up on. Reviewing key terms or ideas is easy with the video tags that let you easily find the section of the video that covers the concepts you're stuck on. Lesson transcripts are available for each video as are self-assessment quizzes that help you quickly gauge your comprehension of the material. End your study of ethics in business with the chapter exam.
1. Business Ethics in Contemporary Businesses
The concept of ethics is easy to give examples of but hard to define. In this lesson, we will discuss ethics and how they apply in the business world, as well as discuss an example of an ethical situation using Enron.
2. Business Ethics: Corporate Social Responsibility
Now that companies are concerned with society's welfare, corporate social responsibility is a controversial topic. In this lesson, learn the two theories of social responsibility and the arguments for and against the practice.
3. Goodwill in Business Communication
Business messages that offer positive and kind thoughts are goodwill messages. These messages can follow the five Ss of goodwill in order to communicate effectively in the workplace.
4. Corporate Citizenship: Definition & the Five Stages
Corporate citizenship is being adopted by more companies who have come to understand the importance of the ethical treatment of stakeholders. In this lesson, you will learn the definition and the five stages of corporate citizenship.
5. How Companies Ethically Balance Owner, Stockholder & Stakeholder Interests
Companies can adopt the shareholder or stakeholder models to ethically balance owner, stockholder and stakeholder interests. The focus of a company can be on maximizing profits or long-term survival.
6. The Ethics of the Employer-Employee Relationship & Its Effect on Stakeholders
The employer-employee relationship must be ethically sound. There are specific requirements that each side expects in order to respect the employment relationship and its effect on stakeholders.
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Other chapters within the NYSTCE Business and Marketing: Practice and Study Guide course
- Introduction to Business Management
- Organizational & Group Behaviors in Business Management
- Motivation in Business Management
- Human Resource Management & Development
- Business Ownership
- Laws Related to Business Ownership
- Labor-Management Relations
- Business Law Basics
- Marketing Fundamentals
- Marketing Strategies in Business
- Marketing & International Business
- Accounting Fundamentals
- Accounting & Financial Management
- Business Technology & Information Systems
- Business & Marketing Communications
- Principles of Economics
- Consumer Economics & Personal Finance
- Career & Professional Development in Business