BUSN 6011: Business Ethics & Social Responsibility
(Lecture Notes)
Social development – is defined as a theory that obligates individuals and groups to act in a way
that benefits the greater good of the society.
- In business, it mean that a company can be defined as socially
responsible if its main objectives, processes not only respect laws and
regulations, but also contribute to the growth and well-being of the
community.
Economic development – refers to the processes by which a community, nation or region of the
word raises its living standard.
Business Organization: Process and Nature
All business have commercial objectives.
For profit business - sell products or services to generate revenue and earnings.
Non-profit business – must bring in enough revenue to pay employees and cover the cost
to administer or support programs.
System Unit
- Emphasizes the systematic approach used to achieve goals. Business typically begin with
hierarchy that establishes structure and order in communication and workflow.
Organizational Culture
- Reflects the shared values within the organization that impact employee morale,
communication and, ultimately, success.
Process in Choosing a Business Organization
Selecting the right business organization is an essential part of starting a new small business.
Step 1: Research the different types of business organization.
Step 2: Determine the liability you want for the business.
Step 3: Decide on the number owners.
Step 4: Choose the tax structure that is best for you and your business.
Step 5: Consider he amount of record-keeping that you are willing and able to do for the
business.
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