Lesson 3: Ethics and Social Responsibility
When making decisions, an organization must keep in mind the stakeholders when making decisions. This is part of CSR.
Stakeholders – an individual, group or organization that has direct or indirect stake in an organization because it can affect or be affected by the organization’s actions and policies.
Shareholders – are owners
Key stakeholders – include shareholders, employees, customers, creditors, governments, and community within which the business operates and draws its resources.
Business Ethics The principals and standards that define acceptable conduct in business and society.