Chapter 2: Ethics and Social Responsibility
By the end of the chapter, you should be able to:
- Deﬁne business ethics and explain what it means to act ethically in business.
- Explain why we study business ethics.
- Identify ethical issues that you might face in business, such as insider trading, conflicts of interest, and bribery, and explain rationalizations for unethical behaviour.
- Identify steps you can take to maintain your honesty and integrity in a business environment.
- Deﬁne corporate social responsibility and explain how organizations are responsible to their stakeholders, including owners, employees, customers, and the community.
- Discuss how you can identify an ethical organization, and how organizations can prevent behaviour like sexual harassment.
- Recognize how to avoid an ethical lapse, and why you should not rationalize when making decisions.
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