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Unit 4 ethics Unit 4 ethics 1 Avoiding paying tax 2 Claiming extra expenses 3 Using work facilities for private purposes (for example, personal phone calls) 4 Accepting praise for someone else’s ideas.
Unit ethics Avoiding paying tax Claiming extra expenses Using work facilities for private purposes (for example, personal phone calls) Accepting praise for someone else’s ideas or work Selling a defective product (for example, a second-hand car) Using your influence to get jobs for relatives (nepotism) Ringing in sick when you are not ill Taking extended lunch breaks Giving good references to people you want to get rid of 10 Employing people without the correct paperwork Avoiding paying tax Claiming extra expenses Using work facilities for private purposes (for example, personal phone calls) Accepting praise for someone else’s ideas or work Selling a defective product Using your influence to get jobs for relatives (nepotism) Ringing in sick when you are not ill Taking extended lunch breaks Giving good references to people you want to get rid of Employing people without the correct paperwork B What examples can you give of businesses behaving badly? c New words and phrases Market capitalization/ Market cap - refers to the total value of a publicly traded company's shares - is calculated by multiplying the total number of a company's outstanding shares by the current market price of one share FTSE stands for Financial Times Stock Exchange FTSE 100 (Index) - is the share index of the 100 companies listed on London Stock Exchange with the highest market capitalization FTSE 250 (Index) - is the share index of the 101st to the 350th largest companies listed on the London Stock Exchange FTSE 350 (Index) - is the combination of FTSE 100 and FTSE 250; - is the largest 350 companies by market capitalization S & P 500, or the Standard & Poor's 500 Index, is the share index of the 500 US companies listed on the NYSE and NASDAQ with the highest market capitalization READING I – Read the article and answer these questions What ethical issues these industries face? • the food industry Their products cause obesity. • mobile phone operators They are challenged to protect teenagers from online pornography • record companies They sue music-lovers for sharing illegal files on the Internet 1 What ethical issues these industries face? • computer and telecommunications companies They use factories in the developing world that have poor working conditions • the financial sector They lend to/give loans for socially or environmentally controversial projects in the developing world • oil and mining groups They don’t make public their payments to developing countries • footwear and clothing brands They should have increased the transparency of their supply chain and taken steps to improve often terrible labour standards 2 Which areas of business not give enough information about social and environmental matters? - hotels and leisure, and software and computer services What examples are given of companies taking positive steps? - There ‘s greater demand for the assistance from Business for Social Responsibility (BSR); - A group of leading banks, including Citigroup, Barclays and ABN Amro, promised to avoid giving loans for socially or environmentally questionable projects; - Levi Strauss, Nike and published on the Internet the first independent audits of their supplier factories, along with the steps taken to improve often terrible labour standards; - Kraft announced in July it would cut fat and sugar in its food, limit portion sizes and stop marketing in schools; In the UK, the trend is also reflected in the sharp rise in social and environmental reporting over the past two years; 100 of the FTSE250, 40 of the 50 largest European companies and 22 of the S&P top 50 produce reports on environmental, social and ethical issues attention focused college ultilized being currently counterparts responsibility threats corruption regulation transparency peer pressure controversial CRITICAL THINKING What can (i) consumers, (ii) shareholders, (iii) employees to try to change the behavior of businesses that are behaving unethically? ... extra expenses Using work facilities for private purposes (for example, personal phone calls) Accepting praise for someone else’s ideas or work Selling a defective product (for example, a second-hand... Using work facilities for private purposes (for example, personal phone calls) Accepting praise for someone else’s ideas or work Selling a defective product Using your influence to get jobs for relatives... greater demand for the assistance from Business for Social Responsibility (BSR); - A group of leading banks, including Citigroup, Barclays and ABN Amro, promised to avoid giving loans for socially