Video Transcript: Week 2

Welcome back to “Introduction to Business.” During Week 2, we’re diving into a topic that’s not just important for your career—but for your character: Business Ethics and Social Responsibility.

Whether you’re in New York, Nairobi, New Delhi, or New South Wales, the principles we’ll explore today are universal. They shape how businesses operate, how leaders lead, and how we, as individuals, make decisions that impact the world.

Let’s begin with a simple question: What does it mean to do the right thing in business?

Ethics is about knowing the difference between right and wrong—and choosing to do what’s right. In business, ethics guide decisions that affect employees, customers, communities, and even the environment.

The Bible reminds us in Proverbs 11:1, “The Lord detests dishonest scales, but accurate weights find favor with him.”

But ethical decisions aren’t always black and white. Imagine a company that refuses to pay bribes in a country where bribery is the norm. Is it ethical to compromise to save jobs? Or is it more ethical to stand firm and risk closure?

These are the kinds of dilemmas business leaders face every day.

Now that we’ve explored what ethics means in a business context, let’s take a closer look at how unethical behavior actually shows up in the real world. Recognizing these behaviors is the first step toward preventing them.

Researchers have identified common categories of unethical behavior in business. Let’s look at a few:

- Taking what doesn’t belong to you

- Lying or giving false impressions

- Conflicts of interest

- Abusing power

- Permitting organizational abuse

The Apostle Paul wrote in Philippians 2:4, “Let each of you look not only to his own interests, but also to the interests of others.” Ethical business means thinking beyond profit—to people.

But identifying unethical actions is only part of the equation. The next question is—how do we decide what’s right in the first place? That’s where ethical philosophies come in, offering different lenses through which we can evaluate our choices.

There are several philosophies that help us navigate ethical decisions:

- Utilitarianism: Do what brings the greatest good to the greatest number.

- Deontology: Follow your duties and obligations, no matter the outcome.

- Justice: Treat people fairly and equitably.

- Individual Rights: Respect the inherent rights of every person.

Micah 6:8 gives us a powerful framework: “What does the Lord require of you? To act justly, to love mercy, and to walk humbly with your God.”

While personal values and philosophies guide individual decisions, the culture of an organization plays a powerful role too. Let’s explore how businesses can shape ethical behavior from the top down.

Ethics isn’t just personal—it’s cultural. Organizations shape ethical behavior through:

- Leadership

- Training

- Codes of Ethics

Consider Ben & Jerry’s, where the CEO limited his salary to just seven times that of the lowest-paid worker. That’s leadership by example.

Or think of Wells Fargo, where employees opened fake accounts to meet sales targets. That’s what happens when pressure overrides principles.

Proverbs 16:8 says, “Better a little with righteousness than much gain with injustice.”

When ethical behavior becomes part of a company’s DNA, it naturally extends beyond the office walls. That’s where Corporate Social Responsibility comes in—businesses doing good not just because they have to, but because they choose to.

Corporate Social Responsibility means businesses care about more than just profit. They care about people, the planet, and doing what’s right.

CSR has four parts:

1. Economic – Be profitable.

2. Legal – Obey the law.

3. Ethical – Do what’s right.

4. Philanthropic – Give back to society.

Companies like Starbucks, Salesforce, and Deloitte are leading the way—donating meals, encouraging volunteerism, and investing in communities.

Luke 12:48 reminds us, “To whom much is given, much will be required.” Businesses have power—and with it, responsibility.

CSR isn’t just a feel-good concept—it’s about real responsibilities to real people. Let’s break down how businesses can serve their key stakeholders with integrity and purpose.

A business has many stakeholders—employees, customers, investors, and society. Let’s break down their responsibilities:

- To Employees: Provide fair wages, safe conditions, and opportunities for growth.

- To Customers: Be honest, deliver quality, and respect their rights.

- To Society: Pay taxes, protect the environment, and support local communities.

- To Investors: Be transparent, ethical, and accountable.

Some companies go even further by becoming B Corporations—committed to high standards of social and environmental performance.

Colossians 3:23 says, “Whatever you do, work at it with all your heart, as working for the Lord, not for human masters.”

As the world changes, so do the expectations placed on businesses. Let’s wrap up by looking at the latest trends shaping the future of ethics and social responsibility in the global marketplace.

Ethics and CSR are evolving. Here are three key trends:

- Strategic Philanthropy: Giving that aligns with a company’s mission.

- New Social Contracts: Employees expect more—flexibility, fairness, and purpose.

- Global Responsibility: Multinational companies must respect local cultures while upholding universal values.

Gap Inc., for example, now publishes a list of its global factories to promote transparency and improve working conditions.

In a global economy, ethics isn’t optional—it’s essential.

Business is more than numbers. It’s about people. It’s about purpose. And it’s about doing what’s right—even when it’s hard.

As you begin your journey in business, remember the words of Matthew 5:16: “Let your light shine before others, that they may see your good deeds and glorify your Father in heaven.”

Let your business decisions reflect your values. Let your leadership reflect your faith. And let your success reflect your service to others.

Thank you for watching—and welcome to the world of business with integrity.