Summarize and categorize the provided notes on business ethics, CSR, and SOX.
Understand the Problem
This appears to be a collection of notes from a business ethics course, covering topics from individual ethics to corporate social responsibility (CSR) and the Sarbanes-Oxley Act (SOX).
Answer
Business ethics are company policies that ensure moral behavior. CSR is the belief that businesses should contribute to society's well-being. SOX was created to improve audit controls and transparency.
Business ethics involves a company's policies and practices to ensure it acts morally regarding societal norms. Corporate Social Responsibility (CSR) is the belief that businesses should contribute to the well-being of society. The Sarbanes-Oxley Act (SOX) was enacted in 2002 to improve audit controls and transparency in business.
Answer for screen readers
Business ethics involves a company's policies and practices to ensure it acts morally regarding societal norms. Corporate Social Responsibility (CSR) is the belief that businesses should contribute to the well-being of society. The Sarbanes-Oxley Act (SOX) was enacted in 2002 to improve audit controls and transparency in business.
More Information
Business ethics and CSR are related but distinct concepts. Business ethics focuses on moral principles and conduct within a business, while CSR involves a broader commitment to societal well-being. SOX was a direct response to major accounting scandals.
Tips
A common mistake is to confuse business ethics and CSR as the same thing. Business ethics focuses on the internal moral compass of a company, while CSR is about the company's impact on the external world.
Sources
- Business Ethics and Corporate Social Responsibility (CSR) - FTI Law - ftilaw.com
- Chapter 4 Ethics and Social Responsibility - pressbooks.lib.vt.edu
- [PDF] Business Ethics and Social Responsibility - fac.ksu.edu.sa
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