Fundamentals of Management, 8th ed

board of directors

Governing body

that is elected by a

corporation’s

stockholders and

charged with

overseeing the

general manage-

ment of the firm to

ensure that it is being

run in a way that best

serves the

stockholders’

interests

42

Part 1: An Introduction to Management

Copyright 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).

Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

---

THE ETHICAL AND SOCIAL ENVIRONMENT

OF MANAGEMENT

The ethical and social environment has become an especially important area for man-

agers in the last few years. In this section, we first explore the concept of individual

ethics and then describe social responsibility.