CHAPTER $5$: Ethics and Social Responsibility BRIEF CHAPTER OUTUNE AND LEARNING GOALS Opening Profile: Getting to Know Matt Damon and Gary White, Co$-$Founders,

Water.org Learning Objective $1$ Explain why obeying the law is only the first step in behaving ethically. I. ETHICS IS MORE THAN LEGAUTY A$.$ Ethical Standards Are Fundamental Learning Objective $2$ Ask the three questions to answer when faced with a potentially unethical action. A$.$ Ethics Begins With Each of Us Learning Objective $3$ Describe management's role in setting ethical standards. II$.$ MANAGING BUSINESSES ETHICALY AND RESPONSIBLY Learning Objective $4$ Distinguish between compliance$-$based and integrity$-$based ethics codes, and list the six steps that can be considered when setting up a corporate ethics code. A$.$ Setting Corporate Ethical Standards $1.$ The Sarbanes$-$Oxley Act of $2002($SOX$)2.$ Whistleblower Legislation in Canada Learning Objective $5$ Define corporate social responsibility and compare corporations' responsibilities to various stakeholders. III. CORPORATE SOCIAL RESPONSIBILITY A$.$ Concepts of SOcial Corporate Responsibility $1.$ The Strategic Approach $2.$ The Pluralist Approach B$.$ Responsibility to Customers C$.$ Responsibility to Investors $1.$ Insider Trading D$.$ Responsibility to Employees E$.$ Responsibility to Society F$.$ Responsibility to the Environment G$.$ Social Auditing $1.$ Sustainable Development Learning Objective $6$ Discuss the importance of ethical behaviour and social responsibility in global markets. IV$.$ INTERNATIONAL ETHICS AND SOCIAL RESPONSIBILITY Key Terms compliance$-$based ethics codes corporate philanthropy corporate policy corporate responsibility corporate social initiatives corporate social responsibility $($CSR$)$ ethical consumerism ethics insider trading integrity$-$based ethics codes social audit sustainable development triple$-$bottom line $($TBL$,3$BL$,$ or People, Planet, Profit$)$ whistleblower

CHAPTER $6$ Forms of Business Ownership BRIEF CHAPTER OUTLINE AND LEARNING GOALS Opening Profile: Getting to Know: Brian Scudamore I. STARTING A SMALL BUSINESS Three Forms of Small Business $(1)$ Sole Proprietorships $(2)$ Partnerships $(3)$ Corporations Learning Objective $1$ Compare the advantages and disadvantages of sole proprietorships. II$.$ SOLE PROPRIETORSHIPS A$.$ Advantages of sole proprietorships B$.$ Disadvantages of sole proprietorships Learning Objective $2$ Describe the advantages and disadvantages of partnerships. Include the differences between general and limited partners. III. PARTNERSHIPS A$.$ Advantages of Partnerships B$.$ Disadvantages of Partnerships Learning Objective $3$ Discuss the advantages and disadvantages of corporations. IV$.$ CORPORATIONS A$.$ Family Enterprises B$.$ Advantages of Corporations C$.$ Disadvantages of Corporations D$.$ Business Regulations $-$Reporting and Information Learning Objective $4$ Outline the advantages and disadvantages of franchising. Include the challenges of global franchising. V$.$ FRANCHISING A$.$ Advantages of Franchises B$.$ Disadvantages of Franchises C$.$ Home$-$Based Franchises D$.$ E$-$Commerce in Franchising E$.$ Using Technology in Franchising F$.$ Franchising in International Markets Learning Objective $5$ Describe the role of co$-$operatives in Canada. VI$.$ CO$-$OPERATIVES VII. WHICH FORM OF OWNERSHIP IS BEST FOR YOU? KeY Terms articles of incorporation co$-$operative $($co$-$op$)$ corporate governance corporation franchise franchise agreement franchisee franchisor general partner general partnership limited liability limited liability partnership $($LLP$)$ limited partner limited partnership partnershiR gartnership agreement private corporation public corporation sole proprietorship unlimited liability

We cover chapter $5$ & $6$ in Week $4$ module. You need to submit a $2-3$ minute or so long video presentation on the following:

What are the various forms of business ownership discussed in Chapter $6?$ What are the advantages and disadvantages for them?