Ethical Management
What do companies often gain over time by prioritizing ethics and social responsibility?
Long-term success
Is it ethical to blackmail your boss into giving you a raise?
No
Major changes in temperature, precipitation, wind patterns, and similar matters occurring over several decades.
What is climate change?
This concept refers to a company’s obligation to act ethically and contribute positively to society beyond just making profits.
What is corporate social responsibility?
Individuals or groups affected by a company’s actions
What are Stakeholders?
What type of damage can unethical decisions cause to a company?
Financial Damage
What principle emphasizes taking responsibility for your actions and decisions even when mistakes are made?
Accountability
The rise in global average temperature near the Earth's surface, caused mostly by increasing atmospheric concentrations of greenhouse gases, such as carbon emissions from fossil fuels.
What is Global warming?
This CSR pillar focuses on a company minimizing its environmental impact through practices like reducing emissions and waste.
What is environmental Responsibility?
What is the main goal of stakeholder theory?
To create value for all stakeholders, not just shareholders
What is a risk companies face when unethical decisions lead to a damaged image?
Negative public attention
What principal emphasizes being honest, trustworthy, and reliable?
Integrity
The value of natural resources, such as topsoil, air, water, and genetic diversity, which humans depend on.
What is Natural Capital?
Companies that donate money, sponsor events, or support local charities are engaging in this type of CSR activity.
What is philanthropy?
One key stakeholder besides shareholders
What are Employees (customers, suppliers, community also acceptable)
What are the two major consequences companies may face if they fail to act ethically?
Loss of trust and legal consequences
Focuses on meeting present needs while simultaneously ensuring that future generations will be able to meet their needs.
What is Sustainable Development?
This term describes when a company misleads the public about how environmentally friendly it is.
What is greenwashing?
What is a primary responsibility managers have toward stakeholders?
To consider and balance their interests
What is ethical management?
The process of making decisions based on fairness, honesty, integrity, and accountability.
A corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis.
What is SBTi?
This framework, often summarized as “people, planet, profit,” measures a company’s success beyond financial performance.
What is the triple bottom line?
What happens when a company ignores its stakeholders?
Loss of trust, reputation damage, and potential business failure