Business Ethics

atmospheric: the air we breathe
water: conservation, purification and allocation
land: ethical responsibility to minimize their harmful impact

-air pollution
stationary (factories and power plants)
mobile (autos, planes, trains)
natural (windblown dust, volcanic eruptions)

-acid rain
certain elements in air pollution mix with air and water to create a new element

-greenhous gases
accelerates global warming
-->Koyoto Protocol

-water pollution
comes from various sources
contamined oceans compromise human food supplies

-water quantity
in some countries

-land pollution
from residential and industrial waste, strip mining, poor forest conservation
causes health issues, habitat destruction, erosion, altered waterways, poisoned groundwater

-waste management
plastic, obsolete computers, cell phones in our landfills leach chemicals
stakeholders believe, manufacturers should be responsible for their products' proper disposal

-deforestation
because of boom in biofuels, poverty, farmin, short-term profits from lumber sales

-urban sprawl

-biodiversity
each species plays a unique role in its ecosystem

-genetically modified organisms
controversial issue of transplanting genes from one organism to another, creating a new life form
long-term impact is unknown

the most influential regulatory agency

can file civil suits against companies

5 strategic goals that reflect public priorities:
-taking action on climate change and improving air quality
-protecting america's water
-cleaning up communities and advancing sustainable development
-ensuring the safety of chemicals and preventing pollution
-better waste management, resoration of contaminated waste sites, and emergency response

-clean air act
-endangered species act
-toxic substances control act
-clean water act
-pollution prevention act
-food quality protection act
-energy policy act

-wind power
-geothermal power
-solar power
-nuclear power (remains controversial)
-biofuels
-hydropower

-better environmental performance can increase revenue
-better environmental performance can decrease costs

a strategic process involving stakeholder assessment to create long-term relationships with customers, while maintaining, supporting and enhancing the natural environment

misleading consumer into thinking a product/service is more environmentally friendly than it is

destroys consumer trust

-low commitment
deals with existing problems
limited planning for anticipated problems
doesn't consider stakeholder environmental issues
operates without concern for long-term impact

-medium commitment
attempts to comply with environmental laws
deals with issues that could cause PR problems
views environmental issues from a tactical, not strategic, perspective
views environment as more of a threat than opportunity

-high commitment
strategic programs to address issues
views environment as an opportunity to advance the strategy
consults with stakeholders about their concerns
conducts an environmental audit to assess performance and adopts international standards

the reprocessing of materials for reuse

requires acknowledging and actively monitoring environmental concerns of all stakeholders
-->must prioritize claims

Strong relationships with stakeholders is the willingness to acknowledge and openly address potential conflicts

assesses the environmental risks associated with business decisions
difficult to measure cost/benefits of decisions

high commitment companies must evaluate the latest information and maintain communication with stakeholders

for highly committed companies

conduct an audit of their environmental efforts and report results to stakeholders

a person's personal philosophies about what is right or wrong

specific and pervasive (weit verbreitet) boundaries for behavior that should not be violated

enduring beliefs and ideals that are socially enforced

right to safety, right to be informed, right to choose, right to be heard

an organization's obligation to maximize its positive impact on stakeholders and minimize its negative impact

to guide corporate support for ethical conduct

set the tone for organizational ethical compliance programs

rewarding organizations for taking action to prevent misconduct

To address a loss of confidence in financial reporting and corporate ethics

to address lingering issues related to the financial crisis

is acceptable behavior as defined by the company and industry

Leads to employee commitment and trust, investor loyalty and trust, customer satisfaction and trust, which all leads to profits

an organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact

Theological discussion --> recognition of social issues --> field of study

Activities undertaken by independent individuals, and groups to protect their rights as consumers

They can withdraw valuable resources