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Ethics and Social Responsibility

Ethics and Social Responsibility

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Ethics and Social Responsibility

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  1. Ethics and Social Responsibility Lesson 6

  2. The Body Shop Corporate Philosophy • Watch the following video: •

  3. Business Ethics • Watch the following video that addresses business ethics •

  4. Code of Ethics Many companies choose to operate under a code of ethics which dictates how employees should respond to a variety of different situations. This means all employees will respond to a problem in the same way (and can include everything from how they can use their company cellphones after-hours, to internet usage). Here in Canada we have laws which detail acceptable behaviour, but morally unacceptable behaviour may not be considered illegal depending on the populations values. Many businesses recognize that by adhering to a code of ethics that they can minimize negative publicity for the business, which in turn gives them a competitive advantage. Leadership in a company often has to face ethical dilemmas.

  5. Another Video • Watch this video clip from “Pretty Woman” What ethical issues to we see in this clip?

  6. The Living Machine • Watch the following video clip • • What is The Living Machine? Write a little summary to describe it.

  7. Whistle Blowing The Living Machine is being used in such companies as Ben & Jerry's, the BodyShop and Mars candy factories.In the past few decades there has been a tendency for employees to inform the public about unethical business practices. In Canada there is Whistle Blowing Legislation. Events like these stir people's emotions and to that degree there are a number of films dealing with ethics including: • All the President's Men • Burn After Reading • Erin Brockovich • The Insider • The China Syndrome • The Wolf of Wall Street

  8. Whistle Blowing Using the following website: Write a brief paragraph explaining what a whistle blower is. Also explain why we have whistle blowing legislation.

  9. Canadian Laws In Canada there are a series of laws which have become associated with ethics: • Marketing Fraud • false or misleading advertising • bait & switch • double ticketing • Business Fraud • bank fraud (loans to non-existent businesses) • consumer fraud (see the preceding market fraud) • contract fraud (kickbacks/bribes to get a contract) • insurance fraud (false claims) • mail fraud (uses post office to siphon information/promote) • pyramid scheme fraud (ponzi schemes) • stock market • fraud (also known as Insider Trading - overview by Business and Securities Commission) • telemarketer fraud (high-pressure phone calls to buy or donate to bogus charities) • welfare fraud (benefits w/out eligibility)

  10. More Canadian Laws • Accounting Fraud • embezzlement (siphoning money from a client/company) is the most common form of accounting fraud, though others exist (involving hiding liabilities or assets). Usually forensic accountants need to be hired to solve complex accounting fraud. • Enron - A leader in gas/energy production it hid liabilities and debts to the tune of $586M, several leaders faced criminal charges. • Nortel - though it stopped short of criminal accounting fraud (or at least it was pushed aside) Nortel leadership did face several charges of civil fraud

  11. Canadian Laws Take some time and come up with 1 Canadian example of companies that have been convicted for committing each of the following: • Marketing Fraud • Business Fraud • Accounting Fraud

  12. Social Responsibility Key to business ethics is social responsibility, the notion that you should be socially responsible (give back to the community, employees, customers) has been around for a while now. Principles include: • safe/healthy work environment • Health & Safety (including WHMIS) • fair labour policies • pay equity, time off, maternity/paternity leave • fair-trade • protect the environment • Exxon example • truthful advertising • avoid discrimination • gender discrimination • glass ceiling to leadership positions • sexual/verbal harassment • accessibility • donate to charity/causes/events • Tim Hortons • Mcdonalds

  13. To Do • Complete the GAP closing assignment (Lesson 6) found in the student common drive. • This will be submitted! Be sure to check the mark scheme to ensure you have provided enough details for your responses.