Social Responsibility & Business Ethics
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Social Responsibility & Business Ethics

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An insight on social responsibility & business ethics.

An insight on social responsibility & business ethics.

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    Social Responsibility & Business Ethics Social Responsibility & Business Ethics Presentation Transcript

    • Management’s Social and Ethical Responsibilities Chapter 3 Ready Notes For in-class note taking, choose Handouts or Notes Pages from the print options, with three slides per page.
    • Chapter Objectives
      • Define corporate social responsibility and summarize the arguments for and against it.
      • Identify and describe the four social responsibility strategies.
      • Explain the role of enlightened self-interest in social responsibility.
      • Summarize the three practical lessons from business ethics research.
      • Identify and describe at least four of the ten general ethical principles.
      • Discuss what management can do to improve business ethics
    • Social Responsibility: Definition and Debate
      • Corporate Social Responsibility
        • The idea that business has social obligations above and beyond making a profit.
        • Business has an obligation to constituent groups in society other than stockholders and beyond that prescribed by law.
    • Social Responsibility: Definition and Debate (cont’d)
      • What Does Social Responsibility Involve?
        • Voluntary action
          • Action before lawsuits or other actions that are taken to force a firm to take action on a matter.
        • An emphasis on means, not ends
          • How the decision to act was reached, not the decision itself.
    • Figure 3.2 A Continuum of Social Responsibility Strategies
    • Social Responsibility Strategies
      • Reactive Strategy
        • Denying responsibility while striving to maintain the status quo by resisting change.
      • Defensive Strategy
        • Resisting additional social responsibilities with legal and public relations tactics.
    • Social Responsibility Strategies (cont’d)
      • Accommodation Strategy
        • Assuming social responsibility only in response to pressure from interest groups or the government.
      • Proactive Strategy
        • Taking the initiative in formulating and putting in place new programs that serve as role models for industry.
    • Who Benefits from Corporate Social Responsibility?
      • Altruism
        • The unselfish devotion to the interests of others.
      • Research Findings
        • There is a positive correlation between industry leadership on a socially responsible issue (pollution control) and profitability.
        • Corporate social responsibility is a competitive advantage in recruiting talented people.
    • Who Benefits from Corporate Social Responsibility? (cont’d)
      • Enlightened Self-Interest
        • A business ultimately helps itself by helping solve social problems.
      • An Array of Benefits for the Organization
        • Tax-free incentives to employees.
        • Retention of talented employees.
        • Help in recruiting the talented and socially conscious.
        • Help in swaying public opinion.
        • Improved community living standards.
        • …Others.
    • The Ethical Dimension of Management
      • Ethics
        • The study of moral obligation involving the distinction between right and wrong.
      • Business Ethics
        • The study of the complex business practices and behaviors that give rise to ethical issues in organizations.
    • Practical Lessons from Business Ethics Research: Ethical Hot Spots
      • Balancing work and family
      • Poor internal communications
      • Poor leadership
      • Work hours, work load
      • Lack of management support
      • Need to meet sales, budget, or profit goals
      • Little or no recognition of achievements
      • Company politics
      • Personal financial worries
      • Insufficient resources
    • Practical Lessons from Business Ethics Research (cont’d)
      • Pressure from Above
        • The problem of superiors pressuring subordinates is widespread.
      • Responding to Pressure from Above
        • Consciously avoid putting undue pressure on subordinates.
        • Be prepared to deal with excessive organization pressure.
    • Practical Lessons from Business Ethics Research (cont’d)
      • Ambiguous Situations
        • Situations where there are no clear-cut ethical guidelines.
        • Ethical codes can help satisfy employees’ need for formal guidelines.
      • A Call to Action
        • The deliberate and conscious actions of a manager to do the right thing is an ethical and personal matter.
    • General Ethical Principles
      • Self-Interests
      • Personal virtues
      • Religious injunctions
      • Government requirements
      • Utilitarian benefits
      • Universal rules
      • Individual rights
      • Economic efficiency
      • Distributive justice
      • Contributive justice
    • Encouraging Ethical Conduct
      • Ethics Training
        • Amoral managers: managers who are neither moral or immoral, but ethically lazy.
        • Key features of effective ethics training programs
          • Top management support.
          • Open discussion.
          • A clear focus on ethical issues.
          • Integration of ethics into the organization.
          • A mechanism for anonymously reporting ethical violations.
          • Reward ethical conduct.
    • Encouraging Ethical Conduct (cont’d)
      • Whistle-Blowing
        • The reporting of perceived unethical matters.
        • Reducing the fear of retaliation against whistleblowers
          • Anonymous hotlines and web sites
          • Personal, confidential guidance
      • Ethical Advocate
        • An ethics specialist who plays a role of critical questioner in top-management’s decision-making.
        • Serves as the Board of directors’ social conscience.
        • Helps prevent groupthink and blind conformity
    • Encouraging Ethical Conduct (cont’d)
      • Code of Ethics
        • Published statement of moral expectations for employee conduct
        • Requirements for an effective ethics code
          • Must describe specific practices as unethical (e.g., kickbacks, payoffs, gifts, falsification of records, and misleading product claims).
          • Must be firmly supported and fairly enforced by top management.