Unit 15: Corporate social responsibility

Ethical standard

a rule for moral behaviour in a particular area

Ethical behaviour

doing things that are morally right

Ethical lapse

temporary failure to act in the correct way

Ethical dilemma

a choice between two actions that might both be morally wrong

Ethical stance

a stated opinion about the right thing to do in a particular situation

Ethical issue

an area where moral behaviour is important

Business Ethics

Standards of business behaviour that promote human welfare and "the good."

Corporate Social Responsibility (CSR)

A company's commitment to improving or enhancing community well-being through discretionary contributions of corporate resources. There are five dimensions of CSR: social, environment, economic, stakeholder and volunterism