what is required by law. The letter of the law cannot address or anticipate all possible business
situations and newly emerging concerns like Internet privacy or advances in genetic
engineering and stem-cell research.
A firm’s ethical responsibilities, therefore, go beyond its legal responsibilities. They
embody the full scope of expectations, norms, and values of its stakeholders. Managers are
called upon to do what society deems just and fair. Starbucks, for example, developed an
ethical sourcing policy to help source coffee of the highest quality, while adhering to fair
trade and responsible growing practices.