Dictionary
Definition: business ethics
a system of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from consumers for more ethical and responsible business practices, many organizations are choosing to make a public commitment to ethical business by formulating codes of conduct and operating principles. In doing so, they must translate into action the concepts of personal and corporate accountability, corporate giving, corporate governance, and whistleblowing.
Corporate social responsibility: CSR. Sustainability
Transparency
Accountability: being accountable to stakeholders- suppliers, employees, customers,shareholders.
Social audits
Ethical behaviour
Corporate social responsibility: CSR. Sustainability
Transparency
Accountability: being accountable to stakeholders- suppliers, employees, customers,shareholders.
Social audits
Ethical behaviour
- working conditions (sweatshop labour)
- labour practices (child labour)
- environmental impact
- carbon footprint: the amount of carbon dioxide emitted by all their activities and products, as part of the effort to combat global warming.
- carbon offset: a way for a company or person to reduce the level of carbon dioxide for which they are responsible by paying money to a company that works to reduce the total amount produced in the world for example by planting trees.
Mission statement
From Wikipedia, the free encyclopedia
A mission statement is a formal, short, written statement of the purpose of a company or
organization. The mission statement should guide the actions of the organization, spell out
its overall goal, provide a sense of direction, and guide decision-making. It provides "the
framework or context within which the company's strategies are formulated." Historically
it is associated with Christian religious groups; indeed, for many years, a missionary was
assumed to be a person on a specifically religious mission. The word "mission" dates from
1598, originally of Jesuits sending ("missio", Latin for "act of sending") members abroad.
organization. The mission statement should guide the actions of the organization, spell out
its overall goal, provide a sense of direction, and guide decision-making. It provides "the
framework or context within which the company's strategies are formulated." Historically
it is associated with Christian religious groups; indeed, for many years, a missionary was
assumed to be a person on a specifically religious mission. The word "mission" dates from
1598, originally of Jesuits sending ("missio", Latin for "act of sending") members abroad.
