Business Ethics & Social Responsibility
11
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Transcript of Business Ethics & Social Responsibility
BUSINESS ETHICS &SOCIAL RESPONSIBILITY
How can those concepts help us in our business?
Business Ethics & Social Responsibility
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Current problems we are facing:
Child labor
Waste of valuable resources
Discarding of new unworn garments
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Consequences we are facing
Angry media Angry customers Angry investors
Public humiliation Drop in sales by 12%
Business Ethics & Social Responsibility
4Is this right?
Child labor? Wasting valuable resources? Discarding new unsold clothing?
What does this have to do with? Ethics & Social Responsibility
NO!
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What are Ethics and Social Responsibility?
Ethics: To do what is right
Corporate Social Responsibility: Doing the right thing in business by making decisions that are right for the environment, consumers, employees, communities, stakeholders and all other members of the public sphere
(profits are only one set of rule that govern business1)1 Beatty, J. F., & Samuelson, S. S. (2007). Essentials of business law. Mason, OH: Cengage
Advantage Books.
Business Ethics & Social Responsibility
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Why should we bother?
Doing the right thing is the right thing to do!
Child labor is wrong!Wasting valuable resources is wrong!Discarding new garments is wrong!
(think about it!)
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How can we do that? Immediately inspect all our production
sites and stop child labor Monitor water use and set goals to limit
water usage at our production sites Stop discarding new clothing and give it
to charities (homeless, Haiti earthquake survivors, etc.)
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Is that enough? NO! We need a new vision & mission We need an ethics program We will adhere by the ethics program Everyone in our company will participate We will be transparent and accountable
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What is the benefit? Paying respect to the environment Paying respect to labor laws Paying respect to our employees,
customers, investors, & community = Feeling good & respected as a
company + competitive advantage in the long run.
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Conclusion We acknowledge our wrongdoing We take responsibility We will immediately make changes to address unethical behaviors We will set up an ethics program
These actions will make us feel good and help regain confidence & respect among
our stakeholders.
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Business Ethics & Social Responsibility
Authorized by Paul President & CEO on Feb. 10, 2010
Prepared by XXXXX, public relations officer
Please email or call for any questions or concerns [email protected] Tel. 1-888-534-4501 ext. 43
