Business Ethics IB21/12/2022
Every society and every culture has its own definition of business ethics. We are committed to upholding high moral and ethical principles as affirmed in our Code of Ethics While Teck’s business practices must be consistent with the business and social practices of the communities in which we operate, we believe that honesty is the essential standard of integrity in any locale.
Such fixes are not, however, a response to the deeper underlying problem of having a president with little commitment to responsible business behavior who sets a troubling ethical example for other U.S. investors who are not entangled in conflicts of interest, but who face ethical dilemmas as they seek to invest and trade worldwide.
The New York Times recently carried a blog post by columnist and Nobel Prize-winning economist Paul Krugman about US president-elect Donald Trump and the worries that Trump would be unable, or simply unwilling, to disentangle his business dealings from his activities as president.
It was suggested that, when considering the ethics of consequences , that there is limited value in considering the consequences of past actions, except as a method of deriving guidance, from experience, for making decisions that will have consequences in the future.
As an economist, Friedman emphasized that corporate officers had the sole responsibility of maximizing profits for the shareholders as long as the law was adhered to. As a for-profit corporation, the leaders should not use corporate funds for social welfare simply because they felt it was socially responsible.