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For and against Corporate Social Responsibility - BAF
1.
Chapter Five Management’s Social
and Ethical Responsibilities
2.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 2 Chapter Objectives • Define the term corporate social responsibility (CSR) and specify the four levels in Carroll’s global CSR pyramid. • Contrast the classical economic and socioeconomic models of business and summarize the arguments for and against CSR. • Identify and describe the four social responsibility strategies and explain the concept of enlightened self-interest. • Summarize the four practical lessons from business ethics research.
3.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 3 Chapter Objectives (cont’d) • Distinguish between instrumental and terminal values and explain their relationship to business ethics. • Identify and describe at least four of the ten general ethical principles. • Discuss what management can do to improve business ethics.
4.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 4 Social Responsibility: Definition and Perspectives • Corporate Social Responsibility (CSR) – The idea that business has: • Social obligations above and beyond making a profit • Social obligations to constituent groups in society other than stockholders and beyond that prescribed by law – Organizations include financial, environmental, and social responsibility in their core business strategies.
5.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 5 Figure 5.1: Carroll’s Corporate Global Social Responsibility Pyramid
6.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 6 Social Responsibility: Definition and Perspectives (cont’d) • What Does Social Responsibility Involve? – Voluntary action • Action is taken before lawsuits or other events force a firm to act on a matter. – An emphasis on means, not ends • Emphasis is on how the decision to act was reached, not on the decision itself.
7.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 7 What Is the Role of Business in Society? • The Classical Economic Model (Adam Smith) – An “invisible hand” (i.e., the efforts of competing entrepreneurs) promoted the public welfare when individuals tried to maximize short-run profits in pursuit of their own economic self-interests. • Equates short-run profitability to social responsibility
8.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 8 What Is the Role of Business in Society? (cont’d) • The Socioeconomic Model – Business has an obligation to meet the needs of the many groups in society besides stockholders in its pursuit of profit. • Stakeholder audit: Systematically identifying all the parties that could possibly be affected by the company’s performance
9.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 9 Figure 5.2: A Sample Stakeholder Audit for Wal-Mart, the World’s Largest Retailer
10.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 10 Arguments For and Against Corporate Social Responsibility • Arguments For – Business is unavoidably involved in social issues. – Business has the resources to tackle today’s complex societal problems. – A better society means a better environment for doing business. – Corporate social action will prevent government action.
11.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 11 Arguments For and Against Corporate Social Responsibility (cont’d) • Arguments Against – Profit maximization ensures the efficient use of society’s resources. – As an economic institution, business lacks the ability to pursue social goals. – Business already has enough power. – Because business managers are not elected, they are not directly accountable to society.
12.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 12 Toward Greater Social Responsibility • Iron Law of Responsibility – Those who do not use power in a socially responsible way will eventually lose it. – If business does not meet the challenge of social responsibility, then government reform legislation will force it to meet its obligations.
13.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 13 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
14.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 14 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
15.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 15 Figure 5.3: A Continuum of Social Responsibility Strategies
16.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 16 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.
17.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 17 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 – Attracting socially conscious investors – A nontaxable benefit for employees from company donations to charitable causes
18.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 18 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
19.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 19 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
20.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 20 Practical Lessons from Business Ethics Research (cont’d) • Pressure from Above – The problem of superiors pressuring subordinates to achieve results is widespread. – Managers’ responses to pressure from above • Consciously avoid putting undue pressure on subordinates (who may act unethically to relieve the pressure). • Prepare to deal with excessive organizational pressure.
21.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 21 Practical Lessons from Business Ethics Research (cont’d) • Ambiguous Situations – Situations where there are no clear-cut ethical guidelines or ethical codes that can satisfy employees’ need for formal guidelines • Rationalization: How Good People End Up Doing Bad Things – Perceiving an objectively questionable action as normal and acceptable • A Call to Action – The deliberate and conscious action of a manager to do the right thing is an ethical and personal matter.
22.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 22 Table 5.1: How Employees Tend to Rationalize Unethical Conduct
23.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 23 Personal Values as Ethical Anchors • Values – Abstract ideals that shape one’s thinking and behavior • Instrumental value: Enduring belief that a certain way (mode) of behaving is appropriate in all situations • Terminal value: Enduring belief that a certain end-state of existence (being admired) is worth striving for • Identifying Your Own Values – Basic personal values are taken for granted. – They are not arranged consciously in order of priority.
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Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 24 Managerial Ranking of Values • Terminal Values – Self-respect – Family security – Freedom – A sense of accomplishment – Happiness • Instrumental Values – Honesty – Responsibility – Capability – Ambition – Independence
25.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 25 General Ethical Principles • Self-interests • Personal virtues • Religious injunctions • Government requirements • Utilitarian benefits • Universal rules • Individual rights • Economic efficiency • Distributive justice • Contributive liberty
26.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 26 Encouraging Ethical Conduct • Ethics Training – Amoral managers: Managers who are neither moral nor immoral, but ethically lazy – Key features of effective ethics programs • Support of top management • Open discussion • A clear focus on ethical issues • Integration of ethics into the organization • A mechanism for anonymously reporting ethical violations • Rewarding of ethical conduct
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Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 27 Table 5.2: Twelve Questions for Examining the Ethics of a Business Decision
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Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 28 Encouraging Ethical Conduct (cont’d) • Ethical Advocate – An ethics specialist who plays a role in top management’s decision making • Code of Ethics – Requirements for an effective code • Describes specific events as unethical • Is supported and equitably enforced by top management • Whistle-Blowing – The reporting of perceived unethical matters
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Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 29 Summary • Corporate responsibility is the idea that management has broader responsibilities than just making a profit. • The debate over the basic purpose of the corporation is long-standing. • Management scholars who advocate greater corporate social responsibility cite the iron law of responsibility.
30.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 30 Summary (cont’d) • Ethics research indicates that many employees have acted unethically, have been pressured to act unethically, desire ethical standards, and engage in rationalization to defend their behaviors. • Managers must pay attention to the instrumental and terminal values that comprise employee’s personal value systems. • There are at least ten general ethical principles that guide behavior. • The typical manager is considered to be amoral.
31.
Copyright © Houghton
Mifflin Company. All rights reserved. Chapter Five | 31 Terms to Understand • Social responsibility • Stakeholder audit • Iron law of responsibility • Reactive social responsibility • Defensive social responsibility • Accommodative social responsibility • Proactive social responsibility strategy • Altruism • Enlightened self-interest • Corporate philanthropy • Ethics • Values • Instrumental value • Terminal value • Amoral managers • Ethical advocate • Whistle-blowing
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