modes of social control
ethics, laws, formal and informal groups, self-regulation, media, active civil society
ethics
standard behavior by which conduct is judged
consists of personal moral principles
unwritten rules that people have developed from their interactions
deontological theory
States that people should adhere to their obligations and duties when analyzing ethical dilemmas
casuist ethical theory
Compares a current ethical dilemma with examples of similar ethical dilemmas and their outcomes
moral relativism
Belief in time-and-place ethics; that is, the belief that ethical truths depend on the individuals and groups holding them
virtue
Character trait valued as being good
Foreign Corrupt Practices Act (FCPA)
prohibits US corporations from making illegal payments to public officials of foreign governments
stakeholder theory
Ethical theory stating that social responsibility is paying attention to the interest of every affected stakeholder in every aspect of a firm's operation
Pyramid of Corporate Responsibility
top down:
Philanthropic
Ethical
Legal
Economic
sustainability
Idea that socially responsible companies will outperform their peers by focusing on the world's problems and viewing them as opportunities
green marketing
Development and marketing of products designed to minimize negative effects on the environment or to improve the environment