Ethical and Social responsible considerations

Question 1

Ethical management

Answer 1

abiding by moral standards and doing the “right thing” in the interests of the stakeholders
EG: McDonalds no longer using polystyrne cups, intellectual property protections, hiring staff ( discrimination, personally knowing an applicant)

Question 2

Social Responsibility

Answer 2

The obligations a business has over and above its legal responsibilities to the well-being of customers, employees, shareholders, the community, and the environment
EG: “ What can i do for society’ ( Ronald McDonald house Qantas offering free flights back to Australia for affected families during the 2004 tsunami)