Entrepreneurship·Running the enterprise · NSSCO 2.5
Ethics, social responsibility & the triple bottom line
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An enterprise can make money and still be a bad business. Today we learn what it means to run an enterprise the right way. We start with ethics — doing what is honest and fair even when no one is watching — then look at unethical behaviour and the harm it does. From there we build up to social responsibility, the wise use of our natural resources, and the powerful idea of the triple bottom line: people, planet and profit, balanced together.
What you'll learn in this lesson
By the end you should be able to (NSSCO Entrepreneurship 2.5):
- Define the term ethics
- List and explain desirable ethical enterprise behaviour
- Identify and evaluate examples of unethical behaviour
- Discuss the impact of unethical behaviour on an enterprise
- Explain how an enterprise will act ethically towards employees with HIV and AIDS
- Define social responsibility
- Explain the meaning of social responsibility (both for an individual and an enterprise)
- Define sustainable use
- Explain sustainable use of natural resources, using examples
- Describe how social responsibility can be used to combat unethical behaviour
- Discuss the concept of a triple bottom line: an enterprise that is socially responsible, environmentally sustainable and financially profitable
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