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INTRODUCTION TO BUSINESS:

A. K. M. Tafzal Haque
Associate Professor
Department of Management Studies
University of Chittagong
HP: 0189-613 992
E-mail: tafzal@mail.com

THE ENVIRONMENT OF BUSINESS

SOCIAL RESPONSIBITY

Social responsibility is the awareness that business activities have an impact on


society, and the consideration of that impact by firm’s decision -making.

A socially responsible firm makes deliberate, regular efforts to increase its positive
impact on society while reducing its negative impact.

RESPONSIBILTY TO CONMSUMERS

CONSUMERISM

Consumerism includes the activities of individuals, groups, and organizations aimed


at protecting consumers’ right.

Consumerism –the public demand that a business considers the wants and needs of
its customers in making decisions. (BOONE & KURTZ: CONTEMPORARY BUSINESS)

THE RIGHT TO SAFETY

Product liability refers to the responsibility of manufactures for injuries and


damages caused by their products.

THE RIGHT TO BE INFORMED

THE RIGHT TO CHOOSE

THE RIGHT TO BE HEARD

RESPONSIBILTY TO EMPLOYEES

INTRODUCTION TO BUSINESS: ENV. TAFZAL


SAFETY IN THE WORKPLACE

EQUALITY IN THE WORKPLACE

FAIR COMPENSATION

ADEQUATE BENEFITS

RESPONSIBILTY TO ENVIRONMENT

Pollution is the contamination of air, water and land.

WATER POLLUTION:
Water pollution is caused by the dumping of toxic chemicals, sewerage, and garbage
into rivers and streams.

AIR POLLUTION:

Air pollution is caused by carbon monoxide and hydrocarbons that come from motor
vehicles and by smoke and other pollutants from manufacturing plants.

LAND POLLUTION

Land pollution results from strip mining of coals and minerals, forests fires, garbage
disposal, and dumping of industrial wastes including chemicals and medical supplies
such as used hypodermic needles

RESPONSIBILTY TO INVESTORS

PROPER MANAGEMENT OF FUND

ACCESS TO INFORMATION

Insider trading is the practice of buying and selling stock on the basis of information
gained through positions or contacts with others that is not available to other
investors or the general public.

EXECUTIVE COMPENSATION

ADVANCING SOCIAL RESPONSIBILTY:

COMMUNITY SUPPORT

INTRODUCTION TO BUSINESS: ENV. TAFZAL


SELF-REGULATION

THE SOCIAL AUDIT:

The Social Audit is a system of review of an organization’s performance of social


responsibility activities.

BUSINESS ETHICS

Ethics are principles of behavior that distinguish between right or wrong.

Business ethics is the evaluation of business activities and behavior as right or


wrong.

Factors Influencing Ethical Behavior:

To understand ethical behavior, executives, managers, and owners of firms must


understand what influences behavior in the first place. These are:

The Business Environment

The organization

The Individual:

A moral philosophy is the set of principles that dictates acceptable behavior

The humanistic philosophy is the set of moral principles focusing individual rights
and values.

Utilitarian Philosophy is the set of principles focusing the greatest good for the
largest number of people.

CODE OF ETHICS:

A code of ethics is a statement specifying exactly what the organization considers


ethical behavior. (JOHNSON &JOHNSON’S CREDO)

WHISTLE BLOWING:

Whistle blowing is a system by which an employee informs superiors, the media, or a


government regulatory agency about unethical behavior within an organization.

INTRODUCTION TO BUSINESS: ENV. TAFZAL


Whistleblowing is an employee’s disclosure to government authorities or the media
of illegal, immoral, or unethical practices. (BOONE & KURTZ: CONTEMPORARY
BUSINESS)

INTRODUCTION TO BUSINESS: ENV. TAFZAL