4 4 Business Ethics and Social Responsibility: Doing Well By Doing Good 2 LO 1What is ethics? What are the universal ethics standards? LO 2What are business ethics? What is an ethical dilemma? LO 3How does ethics relate to the individual and the organization? LO 4What is social responsibility and how does it impact stakeholder groups? LO 5What is the role of social responsibility in the global arena? LO 6How do companies evaluate their efforts to be socially responsible?