Business Ethics

• Corporate Social Responsibility (CSR): The ethical framework that businesses have a responsibility to contribute positively to society.
• Whistleblowing: Reporting unethical or illegal activities within an organization.
• Stakeholders: Individuals or groups affected by a business's actions.
• Fair Trade: Ethical trade practices that prioritize fair wages and conditions for workers.
• CSR: A company investing in sustainable practices to reduce its environmental impact.
• Whistleblowing: An employee reporting financial fraud within their organization.
• Stakeholders: Considering the impact of business decisions on employees, customers, and the community.
• Fair Trade: Supporting producers in developing countries by ensuring fair wages and ethical working conditions.
• Milton Friedman: Advocated for profit maximization as the primary goal of businesses.
• Albert Carr: Proposed the concept of business as a poker game, where deception is acceptable.
• Strengths: Promotes corporate responsibility and ethical decision-making.
• Weaknesses: Balancing profit motives and ethical considerations can be challenging.