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Part I. Unit 8 business ethics and social responsibility

Learning goals

After studying this unit you will be able to:

  • differentiate between the notions of business ethics, legal and social responsibility

  • explain purposes of business

  • identify ethics objectives of management

  • compare different ways of improving ethical performance

  • distinguish between social responsibility strategies

  • describe approaches to ethical decision making

READING I

Ethics and business

Before you read

Key terms

1) Match the terms with their Russian equivalents.

1) obstructive strategy

a) ответственность перед законом

2) defensive strategy

b) приспособительная стратегия

3) legal responsibility

c) обструкционная или стратегия создания препятствий

4) adaptive strategy

d) действенная стратегия

5) proactive strategy

e) защитная стратегия

2) Match the terms with their definitions.

1) ethics

a) a set of principles that people use to decide what is right and what is wrong

2) social responsibility

b) a normative discipline that applies everyday moral or ethical norms to business

3) legal responsibility

c) obligations to society involving a degree of voluntary response

4) business ethics

d) complying with specific laws and regulations

Think ahead

1. Do you think there is a difference between ‘social responsibility’ and ‘ethics’? What is the purpose of business in your opinion? Give your reasons.

2. Match the following companies’ principles with the type of social responsibility strategies:

1) Go with the flow. a) obstructive

2) It is not our responsibility. b) defensive

3) Build a better society. c) adaptive

4) We do our best. d) proactive

TEXT 8.1 Scan the text and discuss the difference between ‘ethics’, ‘business ethics’, ‘social responsibility’, ‘legal responsibility’.

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