Intro to Business 04/19/23

What do they have in common?Starbucks created C.A.F.E. Practices, a set of guidelines

to achieve product quality, economic accountability, social responsibility and environmental leadership.

Ben & Jerry 's founders Ben Cohen and Jerry Greenfield have infused the company with the notions of giving back in every way possible, as well as "linked prosperity" between the company, its employees and the community.

Blake Mycoskie started Toms Shoes on the premise that for every pair of shoes sold, one pair would be donated to a child in need. 

Social ResponsibilityRefers to the obligation of a business to

contribute to the well being of a community

Attention to social concerns:Protecting the environmentMinorities and women in the workplacePhysically handicapped employeesOlder workersHealthy and safe work environment

Environmental ProtectionConservation – preserving scarce natural

resources Lumber company that has reforestation program

Non-renewable resource – natural resource that cannot be replaced when used up

Copper, Iron ore, gas, oil

Environmental Protection Cnt’dSocially responsible businesses take action to

reduce or completely eliminate pollution

EPA (environmental Protection Agency) and businesses work together to reduce pollution and make our environment healthier

Workplace DiversityThe workforce of a business should reflect

the various groups that comprise the community.

Learning how to manage a work force made up of a variety of cultures is a major challenge.

Workforce diversity cnt’dRemoving employment barriers for women

Equal employment opportunity lawsLilly Ledbetter Fair Pay Act of 2009

Accommodate physically disabledAmericans with Disabilities Act

Wheelchair access etc.

Eliminate discrimination towards elderlyAge Discrimination in Employment Act

Age is not a basis for employment decisions (hiring, promotions, or terminations) – 40 and over

Safety on the jobAll employees should be able to work in an office

or factory free from the hazards that could cause accidents.

Also includes employee training to show how to work safely and what to do in the event of an emergency.

Workplace safety regulations are mandated by the government – OSHA (Occupational Safety and Health Administration)

Employee WellnessHealthy workforce = productive workforce

Workers in good physical health are valuable assets to a company

Business offer programs aimed at helping their employees remain healthyStop-smoking seminars, counseling for drug

problems, weight loss sessions, team sport sponsor – to encourage employees to play

Cost of Social ResponsibilityWith those around you:

Come up with a list of 3-5 costs of being socially responsible.

Come up with a list of 3-5 benefits of being socially responsible.

Cost of Social ResponsibilityTo be socially responsible, companies must

endure costsNew non-polluting equipment Safer materialsBuilding renovationsRehabilitation programs

Companies must balance their commitment to be socially responsible in order to continue making profits

Business EthicsEthics – principles of morality or rules of

conductBusiness ethics – rules about how the

business or employees ought to behave

Business Ethics Cont’dThe ethical conduct of a business is greatly

determined by its top management

Executives who show good moral decision making, set the standard for a business

Business Ethics Cont’dCode of ethics – statement of rules for

guiding behavior of employees or members of an organizationShould be written in terms of acceptable

behaviors, not forbidden actionsWordle