Stakeholders and Business Ethics/Corporate Social Responsibility

Question 1

What is Business Ethics?

Answer 1

A subfield of ethics and moral philosophy devoted to thinking about ethical issues in a business context. The study of business situations, activities and decisions where issues of right and wrong are addressed.

Question 2

What is Corporate Social Responsibility?

Answer 2

Sustainable development meets the needs of the present generation without compromising the ability of future generations to meet their needs.

Question 3

What are areas that are included on a stakeholder map?

Answer 3

1. Market
2. Shareholders
3. Environment
4. Community
5. Partners
6. Customers/Consumers
7. Public Administration
8. Human Resources
9. Suppliers

Question 4

What areas are included in the Wicked Seven?

Answer 4

1. Climate Collapse
2. Inequality
3. Extremism
4. War
5. Corruption
6. Health and Livelihoods
7. Population and Migration

Question 5

What does Climate Collapse mean within The Wicked Seven?

Answer 5

The interlinked global crisis of weather-related events from heat waves, forest fires, hurricanes, ecosystem degradation and species extinction.

Question 6

What does Inequality mean within The Wicked Seven?

Answer 6

Economic inequality is a way to measure social and gender inequality, The growing gap between the 1% and the rest of the population creates an unequal and unjust society.

Question 7

What does Extremism mean within The Wicked Seven?

Answer 7

The growing intolerance and hate fuelled by identity-based groups that create social unrest and commit acts of terror.

Question 8

What does War mean within The Wicked Seven?

Answer 8

Includes militarism, the culture of war, armies, arms, industries, policies, plans, propaganda, prejudices and rationalisation that lead to lethal group conflict.

Question 9

What does Corruption mean within The Wicked Seven?

Answer 9

The dishonest conduct by those in power or those seeking to influence them using fraud and bribery. Corruption creates a system that governs not for the many, but for the few.

Question 10

What does Health and Livelihood mean within The Wicked Seven?

Answer 10

The worldwide challenge of public wellbeing - economic and physical health. Includes the economy, the future of work, employment, education and the new skills and capabilities required to “make a living”.

Question 11

What does Population and Migration mean within The Wicked Seven?

Answer 11

The domestic and global population growth leads to increased conflicts over water, energy, food, open space, transportation and schooling. Carrying capacity, the number of people, other living organisms or crops that a region can support without environmental degradation - becomes a key metric for local and national wellbeing. Also includes the growing problem of refugees and asylum seekers, mainly from the “Global South”.