Business Ethics and Social Responsibility

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Lecture slides from BUS 100, January 21, 2014.

Lecture slides from BUS 100, January 21, 2014.

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  • 1. Chapter 2: Being Ethical and Socially Responsible cc licensed ( BY NC ND ) flickr photo by Stephen Wu: http://flic.kr/p/tZ1LP
  • 2. Team Quiz • Closed book/closed notes • You may collaborate with your team • You are responsible for the answers on your quiz • You do not have to choose the same answers as your team
  • 3. cc licensed ( BY NC SA ) flickr photo by Mark H. Anbinder: http://flic.kr/p/8n19hr
  • 4. cc licensed ( BY SA ) flickr photo by 401(K) 2012: http://flic.kr/p/aFAEHR
  • 5. On October 28th, 1987 at 9:30 a.m., the doors to a Metropolitan Armored Car Co. vehicle accidentally popped open, and over $1 million in cash landed in the middle of the busiest freeway in Columbus, I-71 just north of downtown. Pandemonium ensued. An estimated 100-200 people stopped their cars on the spot, blocking all lanes of the freeway, and began fighting and clawing for bags of cash. An FBI agent who would not give his name happened to be passing at the time of the incident. He told the Columbus Dispatch, "There were people carrying sacks of money. They looked like Santa Claus." He said people were screaming "Praise the Lord!" as they scooped up handfuls of cash. Less than $70,000 was returned.
  • 6. cc licensed ( BY NC ND ) flickr photo by MA1216: http://flic.kr/p/5j5jz3
  • 7. cc licensed ( BY ) flickr photo by Robert Couse-Baker: http://flic.kr/p/dBYAqq
  • 8. Ford Pinto • Developed by Ford in response to popularity of small imports • Developed in 25 months (usually 43) • Limits of 2,000 – <2,000 lbs – <$2,000.00 VW Beetle, ©carblueprints.info
  • 9. Ford Pinto • 40 crash tests >25mph: all ruptured fuel tank without modification • Ford owned a patent on a safer fuel tank design • Cost-benefit analysis: – Life = $200,000 – Cost of modification = $11 – 180 deaths/180 burn injuries: $49.5M – 11M cars, 1.5M trucks: $137M
  • 10. cc licensed ( BY NC SA ) flickr photo by Matthew T Rader: http://flic.kr/p/PZmCd
  • 11. Types of ethical problems • Ethical lapse – Personal interest over stakeholders • Ethical dilemma – Conflict among stakeholders • Conflict of interest • Conflict of loyalty