What areas of moral consideration need to be faced by business people?i need 4 areas please, and a detailed explanation for each. thanks alot
Ethical organizational behavior should be practiced by all business people. Organizations have an obligation to operate in an honest and ethical manner. Top management should set an example by exercising ethical leadership and establish an ethical code of conduct that supports ethical organizational behavior for employees. I have listed four areas of moral consideration that all business people must be held accountable for.
Corporate Governance: defined as “the framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company’s relationship with all its stakeholders (financiers, customers, management, employees, government, and the community) (BusinessDictionary.com)
Corporate Social Responsibility: defined as:
A company’s sense of responsibility towards the community and the environment (both ecological and social) in which it operates. Companies express this citizenship through their waste and pollution reduction processes, by contributing educational and social programs, and by earning adequate returns on the employed resources (BusinessDictionary.com).
Human Rights: defined as: “The fundamental rights that humans have such as cultural, economic, and political rights to life, liberty, education and equality before law, and right of association, belief, free speech, information, religion, movement, and nationality” (BusinessDictionary.com).
Global Economy: defined as: “Worldwide economic activity between various countries that are considered intertwined and thus can affect other countries negatively or positively” (BusinessDictionary.com).