Caux Round Table Principles For Responsible Business

Submitted By isaacvarg
Words: 423
Pages: 2

Benjamin Vargas
SPCH-1321-009-131S: BUS & PROF SPEECH

Communications Analysis
In the Caux Round Table Principles for Responsible Business, seven core principles are listed for setting social norms and ethical standards for business necessary for a functioning society. These principles apply to not only what is legal or illegal, but also to what is ethical and unethical. The first principle is the understanding that leaders hold a great deal of responsibility and obligations to the not only the people around them, but also to the community, who are ultimately affected by the ethical decisions of those in a position of power. It is important that those in positions of leadership are aware of their value and services to society and to realize how important it is to understand that they must make ethical decisions for the greater good. The second principle encompasses the importance of fair play in decision making to maintain a functioning, healthy and fair economic conditions. This is important because a society cannot thrive in an environment where foul play is prevalent. Businesses must do what they can to contribute to the well-being of their community because their overall success is dependent on the health of the surrounding community. The third principles deals with the aspect that behaviors should respect the interests of others and the law. The principle states that while an action may be legal, its overall consequences may be unethical. It is also important to understand that although the law has minimums, businesses should sometimes go above and beyond the requirements of the law even when not required if its justified. In the fourth principle, it is stated that a business should respect the cultural and traditional