Business Notes: The ethical environment and corporate social responsibility

Definition: Morally correct behaviour towards all stakeholder groups

Below are examples of stakeholders and the businesses social responsibility towards them:

Shareholder:

• Provide with upto date trading information
• Tell them if the business isn't doing well
• Pay fair appropriate dividend
• Be able to express views/ opinions/ concerns about how the business is run

Employees:

• Fair wages
• Safe working conditions
• Fair breaks
• Fair and transparent promotion

Government:

• Publish full accounts (fair and open publication)
• Avoid practices that will allow tax evasion

Consumers:

• Fair pricing (transparent and open) - not misleading
• Value for money
• Safe

Suppliers:

• Keep trade credit as short, appropriate as possible
• Pay within the appropriate trade credit period

Esjae x

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