About This Chapter
Practicing Social Responsibility and Ethical Behavior in Business - Chapter Summary and Learning Objectives
Social responsibility is a form of ethics or moral philosophy by which individuals or organizations act in the best interests of the larger society. In this chapter, instructors discuss whether it's possible for a company to be both economically profitable and socially responsible, using the Enron Corporation as a historical example. You'll also have the opportunity to compare compliance-based with integrity-based ethics. As you progress through the tutorials, you can find out how to write an ethics code for a business or company that reflects the organization's mission and values. Ethical decision-making at the corporate level, including its economic and legal benefits, will also be discussed. When you have finished watching the video lessons and taking the self-assessment quizzes found at the end of each chapter, you should be able to:
- Understand what is meant by ethics and the role of moral philosophy in business and industry
- Define and discuss rule- and value-based ethic codes in business
- Understand how to write an ethics code for a business or company, including the principles and processes involved in its creation
- Define social responsibility and its organizational role
- Reflect upon some real life examples related to corporate ethics and responsibility and their overall effect on society.
|Business Ethics in Contemporary Businesses||Discuss the role of ethics in contemporary business, with special attention paid to Enron as an example.|
|Code of Ethics: Compliance-based and Integrity-based||Distinguish between compliance-based and integrity-based ethics codes. Identify the steps involved in setting up a corporate ethics code.|
|Social Responsibility in Organizations||Define social responsibility and the role it plays in contemporary businesses and corporations.|
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. Code of Ethics: Compliance-based and Integrity-based
A business may develop a code of ethics for different reasons. In this lesson, you'll learn what a code of ethics is and the difference between a compliance-based code of ethics and an integrity-based code of ethics.
3. Social Responsibility in Organizations
Watch this video lesson to learn how companies put into practice their social responsibilities. Learn how a socially responsible company helps the environment, people, and employees along with giving freely to society.
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Business 100: Intro to Business course
- The Dynamic Business Environment
- Economics and Business
- Business in Global Markets
- Forms of Business Ownership
- Entrepreneurship and Small Business
- Managing and Leading in Business
- Leadership Styles in Business
- Organizational Management
- Business Production and Operations
- Workplace Productivity & Motivation
- Basics of Human Resources
- Managing the Employer-Worker Relationship
- Business Marketing Basics
- Product Development and Retailing
- Product Distribution & Supply Chain Management
- Pricing Strategy in Marketing
- Product Promotion in Business
- MIS Basics in Business
- Implications of Information Technology
- Risk Management in Business
- Accounting Basics
- Financial Management in Business
- Securities Markets and Business
- Money and Financial Institutions
- Studying for Business 100