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Managing Ethics and Social Responsibility CHAPTER 5 0
Learning Outcomes <ul><li>Define ethics  and explain how ethical behavior relates to behavior governed by law and free cho...
Ethics <ul><li>The code of moral principles and values that govern the behaviors of a person or group with respect to what...
Managerial Ethics <ul><li>Ethics can be difficult to define </li></ul><ul><li>Ethical issues are exceedingly complex </li>...
Ethical Dilemmas: What Would You Do? <ul><li>An  ethical dilemma  arises in a situation concerning right or wrong when  va...
Criteria for Ethical Decision Making <ul><li>Utilitarian approach  – moral behaviors should produce the greatest good for ...
Defining Justice <ul><li>Distributive Justice –  different treatment of people should not be based on arbitrary characteri...
Manager   Ethical   Choices Copyright ©2010 by South-Western, a division of  Cengage Learning.  All rights reserved. An im...
Globalization and Ethics <ul><li>Globalization makes ethical issues more complex </li></ul><ul><li>Bribes are common pract...
What is Corporate Responsibility? <ul><li>Corporate Social Responsibility (CSR) is the obligation of organization manageme...
Organizational Stakeholders <ul><li>Stakeholders  are any group within or outside the organization that has a stake in the...
The Bottom of  the Pyramid (BOP) <ul><li>Sometimes called  base of the pyramid </li></ul><ul><li>Alleviate poverty and soc...
The Ethic of Sustainability <ul><li>Sustainable Development </li></ul><ul><ul><li>Economic Development that generates weal...
Evaluating Corporate Responsibility Copyright ©2010 by South-Western, a division of  Cengage Learning.  All rights reserve...
Managing Company Ethics and Social Responsibility <ul><li>Code of Ethics  – formal statement of the organization’s values ...
The Ethical Organization Copyright ©2010 by South-Western, a division of  Cengage Learning.  All rights reserved. 0
The Business Case for Ethics and Social Responsibility <ul><li>Paying attention to ethics and social responsibility is as ...
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  1. 1. Managing Ethics and Social Responsibility CHAPTER 5 0
  2. 2. Learning Outcomes <ul><li>Define ethics and explain how ethical behavior relates to behavior governed by law and free choice. </li></ul><ul><li>Explain the utilitarian, individualism, moral-rights, and justice approaches for evaluating ethical behavior. </li></ul><ul><li>Describe the factors that shape a manager’s ethical decision making . </li></ul><ul><li>Identify important stakeholders for an organization and discuss how managers balance the interests of various stakeholders . </li></ul><ul><li>Explain the bottom-of –the pyramid concept and some of the innovative strategies companies are using. </li></ul><ul><li>Explain the philosophy of sustainability and why organizations are embracing it. </li></ul><ul><li>Define corporate social responsibility and how to evaluate it along economic, legal, ethical, and discretionary criteria. </li></ul><ul><li>Discuss how ethical organizations are created through ethical leadership and organizational structures and systems. </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  3. 3. Ethics <ul><li>The code of moral principles and values that govern the behaviors of a person or group with respect to what is right or wrong. </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  4. 4. Managerial Ethics <ul><li>Ethics can be difficult to define </li></ul><ul><li>Ethical issues are exceedingly complex </li></ul><ul><li>Managers face a variety of difficult situations </li></ul><ul><li>Ethics fall between law and free choice </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  5. 5. Ethical Dilemmas: What Would You Do? <ul><li>An ethical dilemma arises in a situation concerning right or wrong when values are in conflict </li></ul><ul><li>Managers and employees are the moral agents who must make ethical choices </li></ul><ul><li>Decisions about advertising, operations, and Internet usage are all dilemmas YOU might face </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  6. 6. Criteria for Ethical Decision Making <ul><li>Utilitarian approach – moral behaviors should produce the greatest good for the greatest number </li></ul><ul><li>Individualism approach – acts are moral when they promote the individual’s best long-term interests </li></ul><ul><li>Moral Rights Approach – moral decisions are those that best maintains the rights of those affected </li></ul><ul><li>Justice Approach – decisions must be based on standards of equity, fairness, and impartiality </li></ul><ul><li>Distributive Approach – different treatment of people should not be based on arbitrary characteristics </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  7. 7. Defining Justice <ul><li>Distributive Justice – different treatment of people should not be based on arbitrary characteristics. </li></ul><ul><li>Compensatory Justice – individuals should be compensated for the cost of their injuries by the party responsible. </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  8. 8. Manager Ethical Choices Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. An important personal trait that mangers poses is their stage of moral development 0
  9. 9. Globalization and Ethics <ul><li>Globalization makes ethical issues more complex </li></ul><ul><li>Bribes are common practice in many countries </li></ul><ul><li>Transparency International ranks countries based on Bribe Payers Index </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  10. 10. What is Corporate Responsibility? <ul><li>Corporate Social Responsibility (CSR) is the obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  11. 11. Organizational Stakeholders <ul><li>Stakeholders are any group within or outside the organization that has a stake in the organization’s performance. </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  12. 12. The Bottom of the Pyramid (BOP) <ul><li>Sometimes called base of the pyramid </li></ul><ul><li>Alleviate poverty and social ills while making profits </li></ul><ul><li>Selling to the world’s poorest people </li></ul><ul><li>4 Billion people make up the lowest level of the world’s economic pyramid </li></ul><ul><li>These people have traditionally been underserved </li></ul><ul><li>Companies can make money while addressing global poverty , environmental destruction, social decay and political instability </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  13. 13. The Ethic of Sustainability <ul><li>Sustainable Development </li></ul><ul><ul><li>Economic Development that generates wealth </li></ul></ul><ul><ul><li>Meets the needs of current generation </li></ul></ul><ul><ul><li>Saving the environment for future generations </li></ul></ul><ul><li>Managers are weaving sustainability into strategic decisions </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  14. 14. Evaluating Corporate Responsibility Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  15. 15. Managing Company Ethics and Social Responsibility <ul><li>Code of Ethics – formal statement of the organization’s values regarding ethics and social issues </li></ul><ul><li>Ethical Structures – systems, positions and programs to implement ethical behavior </li></ul><ul><li>Whistle-Blowing – employee disclosure of illegal, immoral, or illegitimate practices </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  16. 16. The Ethical Organization Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
  17. 17. The Business Case for Ethics and Social Responsibility <ul><li>Paying attention to ethics and social responsibility is as important as profits and costs </li></ul><ul><li>Ethical and social actions impact financial performance </li></ul><ul><li>Companies are beginning to measure nonfinancial factors that create value </li></ul><ul><li>Customers pay attention to a company’s ethics and social responsibility </li></ul>Copyright ©2010 by South-Western, a division of Cengage Learning.  All rights reserved. 0
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