This document discusses business ethics and social responsibility. It covers topics like defining ethics, sources of personal ethics codes, managerial ethics, assessing ethical behavior, social responsibility and stakeholder models, areas of social responsibility including environment, customers, employees and investors, and approaches companies take to social responsibility programs from obstructionist to proactive.
This document discusses business and managerial ethics. It defines ethics and explains that business ethics refers to the ethical or unethical behaviors of employees in the context of their jobs. The document also discusses sources of personal ethics codes, social responsibility, stakeholders that businesses should consider, and areas of social responsibility including the environment, customers, employees, and investors. It provides arguments for and against social responsibility programs in business.
The document discusses conducting business ethically and responsibly, including assessing ethical behavior in the workplace, the importance of social responsibility towards stakeholders like employees, customers, investors, and the environment. It also covers approaches companies can take to implement effective social responsibility programs and how these concepts are relevant for both large and small businesses.
This document discusses social and ethical responsibility in business. It defines ethics and differentiates between morality and ethics. It also discusses factors that influence unethical behavior and how to manage ethical dilemmas. Maintaining ethical practices is important for businesses to keep customers, attract new customers, avoid lawsuits, and reduce employee turnover. The document also defines social responsibility and sustainable development, and explains the pyramid of corporate social responsibility which includes economic, legal, ethical and voluntary dimensions.
Social and ethical responsibility of managementBabasab Patil
The document discusses the social and ethical responsibilities of management and organizations. It covers concepts like corporate social responsibility, stakeholders, approaches to social responsiveness like reactive, defensive, accommodative and proactive postures, arguments for and against businesses being socially responsible, and mechanisms for ethical management like codes of ethics and ethics training.
Social responsibility of business towards different sections of society .Reasons for the development of social responsibility concept,Arguments against social responsibility,
Social activities undertaken by some companies
This document discusses several concepts related to business ethics including: codes of conduct, which provide behavioral guidelines for decision making within an organization; the importance of top management demonstrating ethical behavior; whistleblowing policies that require employees to report ethical violations; and the definition of bribery as giving something of value to influence someone's duties. It also discusses corporate social responsibility in terms of actions beyond legal compliance to protect living things, and stakeholders such as customers, investors, employees and the public.
This document discusses business and managerial ethics. It defines ethics and explains that business ethics refers to the ethical or unethical behaviors of employees in the context of their jobs. The document also discusses sources of personal ethics codes, social responsibility, stakeholders that businesses should consider, and areas of social responsibility including the environment, customers, employees, and investors. It provides arguments for and against social responsibility programs in business.
The document discusses conducting business ethically and responsibly, including assessing ethical behavior in the workplace, the importance of social responsibility towards stakeholders like employees, customers, investors, and the environment. It also covers approaches companies can take to implement effective social responsibility programs and how these concepts are relevant for both large and small businesses.
This document discusses social and ethical responsibility in business. It defines ethics and differentiates between morality and ethics. It also discusses factors that influence unethical behavior and how to manage ethical dilemmas. Maintaining ethical practices is important for businesses to keep customers, attract new customers, avoid lawsuits, and reduce employee turnover. The document also defines social responsibility and sustainable development, and explains the pyramid of corporate social responsibility which includes economic, legal, ethical and voluntary dimensions.
Social and ethical responsibility of managementBabasab Patil
The document discusses the social and ethical responsibilities of management and organizations. It covers concepts like corporate social responsibility, stakeholders, approaches to social responsiveness like reactive, defensive, accommodative and proactive postures, arguments for and against businesses being socially responsible, and mechanisms for ethical management like codes of ethics and ethics training.
Social responsibility of business towards different sections of society .Reasons for the development of social responsibility concept,Arguments against social responsibility,
Social activities undertaken by some companies
This document discusses several concepts related to business ethics including: codes of conduct, which provide behavioral guidelines for decision making within an organization; the importance of top management demonstrating ethical behavior; whistleblowing policies that require employees to report ethical violations; and the definition of bribery as giving something of value to influence someone's duties. It also discusses corporate social responsibility in terms of actions beyond legal compliance to protect living things, and stakeholders such as customers, investors, employees and the public.
This document discusses corporate social responsibility (CSR). It defines CSR as actions by organizations to achieve social benefits beyond profit and legal compliance. It discusses perspectives on CSR including instrumental approaches that see profit as the only goal versus social contract approaches. It also covers drivers of CSR like transparency, sustainability, and public sector failures. It introduces the triple bottom line of people, planet and profit and different types of CSR practices organizations adopt.
The document summarizes key points from a chapter about business ethics and social responsibility. It discusses how individuals develop personal codes of ethics and why ethics are important in the workplace. It also distinguishes social responsibility from ethics, identifies organizational stakeholders, and characterizes current social consciousness. Additionally, it covers how social responsibility applies to environmental issues and a firm's relationships with customers, employees, and investors. It identifies four approaches to social responsibility and the four steps needed to implement a program. Finally, it addresses how issues of social responsibility and ethics affect small businesses.
Business Ethics & Social ResponsibilityTanjadarling
The document discusses business ethics and social responsibility. It notes current problems like waste, child labor, and discarding new clothing. This has led to angry media, customers, and investors, along with public humiliation and a 12% drop in sales. The document defines ethics as doing what is right and social responsibility as making decisions that are right for stakeholders. It recommends immediately stopping child labor, monitoring water usage, and donating unsold clothing. The company plans to establish an ethics program and be transparent to regain confidence and respect while feeling good and gaining a competitive advantage.
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or responsible business) is a form of corporate self-regulation integrated into a business model
This document discusses self-management skills and business ethics. It defines ethics as beliefs about what is right and wrong. It also discusses ethical vs unethical behavior, sources of individual ethics, and managerial ethics. The document outlines a three-step model for assessing ethical behavior and four ethical norms: utility, rights, justice, and caring. It then discusses business ethics, factors affecting ethical business conduct, and methods companies use to encourage ethics like codes of conduct and whistleblower policies. Finally, it covers social responsibility and stakeholder models of responsibility.
This document discusses the concepts of corporate social responsibility (CSR) and business ethics. It outlines the responsibilities that businesses have to various stakeholders like consumers, employees, the environment, and investors. Businesses must consider the impact of their activities on society. CSR involves voluntarily engaging in socially beneficial activities and reducing negative impacts. Firms that practice CSR gain benefits like positive publicity and customer loyalty. The document also discusses factors that influence ethical behavior in businesses.
The document discusses business ethics and issues. It defines ethics as a branch of philosophy concerned with concepts like good, bad, right, and wrong. Business ethics strives to determine if specific practices are morally acceptable. Following ethics is important for companies' reputations and avoiding fines. Some key ethical issues in business include employee rights, marketing practices, and ensuring fairness and justice. Adhering to ethical guidelines helps companies avoid losing sight of values like fairness.
The document discusses corporate social responsibility and outlines the key differences between CSR, philanthropy, and charity. It explains that CSR is a strategic vision to create sustainable change in society, unlike charity which focuses on short-term giving. The document also discusses the business case for CSR in terms of competitive advantage, addressing issues like having an educated workforce and partnerships with communities. Finally, it provides examples of CSR initiatives by multinational and local companies operating in Pakistan.
What is Social Responsibility
Contrast the classical and socioeconomic views of social responsibility.
Discuss the role that stakeholders play in the four stages of social responsibility.
List and explain the arguments for and against social responsibility.
Differentiate between social obligation, social responsiveness, and social responsibility.
Social Responsibility and Economic Performance
Explain what research studies have shown about the relationship between an organization’s social involvement and its economic performance.
The document discusses the social responsibilities of businesses to various stakeholders. Businesses depend on society for money, labor, skills, and markets. Social responsibility refers to a business's obligation to protect and improve society's welfare as well as its own interests. The key social responsibilities of businesses are to owners, employees, consumers, the community, and the government. This includes providing fair wages and working conditions for employees, quality products at reasonable prices for consumers, preventing pollution and supporting community development, and complying with government regulations.
Social resposibility and business ethics made by studentMamta Narula
The document discusses the concept of social responsibility of businesses. It states that businesses have an obligation to make decisions and take actions that are desirable to society's objectives and values. While profit is important, businesses should also aim to fulfill societal expectations and contribute to achieving social aspirations. The document then discusses arguments for and against businesses taking on social responsibilities.
Public relations professionals need to be actively engaged in the sustainability discussion at companies and clients. But this also means they need to understand the fundamentals of ethics policies and how ethics is woven into sustainability policies
The document discusses several ethical issues that can arise from markets and business practices, including inequality resulting from monopoly power, child labor, unsafe products, and unethical supply chain practices. It provides numerous examples of potential unethical behaviors in areas like marketing, products, employment, and bribery. Finally, it recommends that organizations establish ethical codes and conduct ethical audits to ensure their practices meet ethical standards.
Adapting corporate social responsibility programs to risk management a model...Alexander Decker
This document discusses how corporate social responsibility (CSR) programs can be adapted to risk management for multinational organizations in Nigeria. It defines CSR as a company's efforts to consider social and environmental concerns in decision-making along with increasing positive societal impact. The document recommends that organizational leaders proactively manage risks and leverage CSR programs and opportunities in the environment to improve stakeholder engagement and reputation. Integrating learnings from CSR into risk management can help companies better address risks and impacts of their economic, social, and environmental activities.
This document discusses the differences between business ethics and corporate social responsibility (CSR). Business ethics deals with moral principles that guide decision making and behavior within organizations. CSR focuses on a corporation's responsibilities and obligations to external stakeholders in society. While business ethics covers all ethics issues throughout a company's functions, CSR specifically concerns corporate responsibility to the community. The document provides examples of the Tata Group and Ultratech Cement carrying out CSR projects in India like community programs, women's empowerment, education, and environmental conservation.
This document discusses business ethics and ethical practices across various functions like procurement, manufacturing, marketing, and supply chain management. It addresses establishing ethical codes and compliance, managing suppliers' ethical conduct, and addressing common ethical issues. The key topics covered are the importance of ethics in business decisions, establishing ethical practices in areas like procurement, manufacturing and marketing, managing suppliers' integrity, and the role of compliance officers in addressing ethics-related risks from suppliers.
Social responsibilities of business and busines ethicsAkhand Arc
The document discusses the social responsibilities of businesses and business ethics. It defines social responsibility as businesses taking actions that are desirable to society and following legal obligations that benefit society. Businesses need to serve various stakeholders like customers, employees, and communities. There are arguments for and against social responsibility, and businesses have economic, legal, ethical, and discretionary responsibilities. The document also defines business ethics as dealing with right and wrong conduct according to societal standards, and elements of business ethics include management commitment, codes of conduct, compliance, and employee involvement.
Vodafone's business ethics were evaluated based on secondary research of their website and primary research from customers, distributors, and retailers. Key ethics followed by Vodafone include valuing customers, employees, the environment, and business partners. However, some customers feel Vodafone charges more than competitors for similar value added services and money has been deducted without services being used. Distributors note Vodafone has a faster claim duration than other companies and takes regular feedback to improve.
The document discusses conducting business ethically and responsibly, including assessing ethics in the workplace, social responsibility towards stakeholders like customers and the environment, and implementing social responsibility programs through approaches like being proactive and managing responsibility plans. It also covers responsibilities to different groups like employees, investors, and the community, as well as considerations for social responsibility for small businesses.
Chap 4 conducting business ethically and responsibly 2Memoona Qadeer
This document discusses conducting business ethically and responsibly. It covers ethics in the workplace, assessing ethical behavior, and company practices to encourage ethical behavior. It also discusses social responsibility and a company's responsibilities to stakeholders like employees, customers, investors, the community, and the environment. It provides examples of implementing social responsibility programs and different approaches companies can take to social responsibility.
This document discusses corporate social responsibility (CSR). It defines CSR as actions by organizations to achieve social benefits beyond profit and legal compliance. It discusses perspectives on CSR including instrumental approaches that see profit as the only goal versus social contract approaches. It also covers drivers of CSR like transparency, sustainability, and public sector failures. It introduces the triple bottom line of people, planet and profit and different types of CSR practices organizations adopt.
The document summarizes key points from a chapter about business ethics and social responsibility. It discusses how individuals develop personal codes of ethics and why ethics are important in the workplace. It also distinguishes social responsibility from ethics, identifies organizational stakeholders, and characterizes current social consciousness. Additionally, it covers how social responsibility applies to environmental issues and a firm's relationships with customers, employees, and investors. It identifies four approaches to social responsibility and the four steps needed to implement a program. Finally, it addresses how issues of social responsibility and ethics affect small businesses.
Business Ethics & Social ResponsibilityTanjadarling
The document discusses business ethics and social responsibility. It notes current problems like waste, child labor, and discarding new clothing. This has led to angry media, customers, and investors, along with public humiliation and a 12% drop in sales. The document defines ethics as doing what is right and social responsibility as making decisions that are right for stakeholders. It recommends immediately stopping child labor, monitoring water usage, and donating unsold clothing. The company plans to establish an ethics program and be transparent to regain confidence and respect while feeling good and gaining a competitive advantage.
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or responsible business) is a form of corporate self-regulation integrated into a business model
This document discusses self-management skills and business ethics. It defines ethics as beliefs about what is right and wrong. It also discusses ethical vs unethical behavior, sources of individual ethics, and managerial ethics. The document outlines a three-step model for assessing ethical behavior and four ethical norms: utility, rights, justice, and caring. It then discusses business ethics, factors affecting ethical business conduct, and methods companies use to encourage ethics like codes of conduct and whistleblower policies. Finally, it covers social responsibility and stakeholder models of responsibility.
This document discusses the concepts of corporate social responsibility (CSR) and business ethics. It outlines the responsibilities that businesses have to various stakeholders like consumers, employees, the environment, and investors. Businesses must consider the impact of their activities on society. CSR involves voluntarily engaging in socially beneficial activities and reducing negative impacts. Firms that practice CSR gain benefits like positive publicity and customer loyalty. The document also discusses factors that influence ethical behavior in businesses.
The document discusses business ethics and issues. It defines ethics as a branch of philosophy concerned with concepts like good, bad, right, and wrong. Business ethics strives to determine if specific practices are morally acceptable. Following ethics is important for companies' reputations and avoiding fines. Some key ethical issues in business include employee rights, marketing practices, and ensuring fairness and justice. Adhering to ethical guidelines helps companies avoid losing sight of values like fairness.
The document discusses corporate social responsibility and outlines the key differences between CSR, philanthropy, and charity. It explains that CSR is a strategic vision to create sustainable change in society, unlike charity which focuses on short-term giving. The document also discusses the business case for CSR in terms of competitive advantage, addressing issues like having an educated workforce and partnerships with communities. Finally, it provides examples of CSR initiatives by multinational and local companies operating in Pakistan.
What is Social Responsibility
Contrast the classical and socioeconomic views of social responsibility.
Discuss the role that stakeholders play in the four stages of social responsibility.
List and explain the arguments for and against social responsibility.
Differentiate between social obligation, social responsiveness, and social responsibility.
Social Responsibility and Economic Performance
Explain what research studies have shown about the relationship between an organization’s social involvement and its economic performance.
The document discusses the social responsibilities of businesses to various stakeholders. Businesses depend on society for money, labor, skills, and markets. Social responsibility refers to a business's obligation to protect and improve society's welfare as well as its own interests. The key social responsibilities of businesses are to owners, employees, consumers, the community, and the government. This includes providing fair wages and working conditions for employees, quality products at reasonable prices for consumers, preventing pollution and supporting community development, and complying with government regulations.
Social resposibility and business ethics made by studentMamta Narula
The document discusses the concept of social responsibility of businesses. It states that businesses have an obligation to make decisions and take actions that are desirable to society's objectives and values. While profit is important, businesses should also aim to fulfill societal expectations and contribute to achieving social aspirations. The document then discusses arguments for and against businesses taking on social responsibilities.
Public relations professionals need to be actively engaged in the sustainability discussion at companies and clients. But this also means they need to understand the fundamentals of ethics policies and how ethics is woven into sustainability policies
The document discusses several ethical issues that can arise from markets and business practices, including inequality resulting from monopoly power, child labor, unsafe products, and unethical supply chain practices. It provides numerous examples of potential unethical behaviors in areas like marketing, products, employment, and bribery. Finally, it recommends that organizations establish ethical codes and conduct ethical audits to ensure their practices meet ethical standards.
Adapting corporate social responsibility programs to risk management a model...Alexander Decker
This document discusses how corporate social responsibility (CSR) programs can be adapted to risk management for multinational organizations in Nigeria. It defines CSR as a company's efforts to consider social and environmental concerns in decision-making along with increasing positive societal impact. The document recommends that organizational leaders proactively manage risks and leverage CSR programs and opportunities in the environment to improve stakeholder engagement and reputation. Integrating learnings from CSR into risk management can help companies better address risks and impacts of their economic, social, and environmental activities.
This document discusses the differences between business ethics and corporate social responsibility (CSR). Business ethics deals with moral principles that guide decision making and behavior within organizations. CSR focuses on a corporation's responsibilities and obligations to external stakeholders in society. While business ethics covers all ethics issues throughout a company's functions, CSR specifically concerns corporate responsibility to the community. The document provides examples of the Tata Group and Ultratech Cement carrying out CSR projects in India like community programs, women's empowerment, education, and environmental conservation.
This document discusses business ethics and ethical practices across various functions like procurement, manufacturing, marketing, and supply chain management. It addresses establishing ethical codes and compliance, managing suppliers' ethical conduct, and addressing common ethical issues. The key topics covered are the importance of ethics in business decisions, establishing ethical practices in areas like procurement, manufacturing and marketing, managing suppliers' integrity, and the role of compliance officers in addressing ethics-related risks from suppliers.
Social responsibilities of business and busines ethicsAkhand Arc
The document discusses the social responsibilities of businesses and business ethics. It defines social responsibility as businesses taking actions that are desirable to society and following legal obligations that benefit society. Businesses need to serve various stakeholders like customers, employees, and communities. There are arguments for and against social responsibility, and businesses have economic, legal, ethical, and discretionary responsibilities. The document also defines business ethics as dealing with right and wrong conduct according to societal standards, and elements of business ethics include management commitment, codes of conduct, compliance, and employee involvement.
Vodafone's business ethics were evaluated based on secondary research of their website and primary research from customers, distributors, and retailers. Key ethics followed by Vodafone include valuing customers, employees, the environment, and business partners. However, some customers feel Vodafone charges more than competitors for similar value added services and money has been deducted without services being used. Distributors note Vodafone has a faster claim duration than other companies and takes regular feedback to improve.
The document discusses conducting business ethically and responsibly, including assessing ethics in the workplace, social responsibility towards stakeholders like customers and the environment, and implementing social responsibility programs through approaches like being proactive and managing responsibility plans. It also covers responsibilities to different groups like employees, investors, and the community, as well as considerations for social responsibility for small businesses.
Chap 4 conducting business ethically and responsibly 2Memoona Qadeer
This document discusses conducting business ethically and responsibly. It covers ethics in the workplace, assessing ethical behavior, and company practices to encourage ethical behavior. It also discusses social responsibility and a company's responsibilities to stakeholders like employees, customers, investors, the community, and the environment. It provides examples of implementing social responsibility programs and different approaches companies can take to social responsibility.
This document outlines the key learning objectives of a chapter on business ethics and social responsibility. The objectives cover developing personal ethics codes, distinguishing ethics from social responsibility, applying social responsibility to environmental and stakeholder issues, identifying approaches to social responsibility programs, and addressing ethics in small businesses. The chapter will help readers assess ethical issues as employees, managers, consumers, and investors.
This document discusses business ethics and social responsibility. It defines ethics as beliefs about right and wrong, and ethical behavior as conforming to social norms. Unethical behavior goes against these norms. Sources of ethics include childhood experiences and peer/work influences. The document also presents models for assessing ethical situations and outlines common ethical norms. It defines business ethics, factors that influence ethical decisions, and methods companies use to encourage ethics like codes of conduct and training. Finally, it discusses social responsibility and stakeholder theory, and gives examples of socially responsible practices and implementation approaches.
Business ethics are important for companies to study for several reasons:
1) Reports of unethical business behavior are rising and stakeholder trust is declining, so studying ethics helps address these issues.
2) Individual ethics alone is not enough - companies need to establish ethical standards and practices to guide all employees.
3) Considering ethics helps companies identify issues important to key stakeholders like customers, investors, and communities.
The document discusses the importance of business ethics. It provides an overview of the evolution of business ethics as a field from the 1960s to present day, including key events that increased scrutiny of ethical practices like the global financial crisis and laws/acts like Sarbanes-Oxley. It also outlines how studying and adhering to business ethics can benefit stakeholders by increasing employee commitment, investor loyalty, customer satisfaction, and profits.
Business ethics are important for companies to study for several reasons:
1) Reports of unethical business behavior are rising and stakeholder trust is declining, so studying ethics helps address these issues.
2) Individual ethics alone is not enough - companies need to establish ethical standards and practices at the organizational level.
3) Understanding ethics helps companies identify ethical issues that are important to key stakeholders like customers, investors, and employees.
This document discusses social responsibility, green management, and ethics. It defines social responsibility as organizations considering society's interests in addition to their own. It outlines stakeholders like employees, customers, and communities that companies have responsibilities towards. The document also discusses approaches to social responsibility like legal compliance, social responsiveness, and proactive social responsibility. It introduces the concepts of green management and environmental sustainability. Finally, it discusses managerial ethics and how companies can promote ethical behavior through leadership, codes of conduct, and protecting whistleblowers.
BUS 1010 Week 2 Corporate Social Responsibility-1.pptguyodulacha66
This document discusses the concepts of corporate social responsibility (CSR) and business ethics. It defines CSR as a company's obligation to positively impact stakeholders while minimizing harm. Companies implement CSR by managing their operations to benefit society. CSR is considered a voluntary approach that balances social, ethical, and environmental concerns with economic goals. The document also examines stakeholders, ethical business practices, levels of CSR, and arguments that support companies adopting socially responsible behaviors.
The document discusses objectives and key points from Chapter 1 of the book "Ethics in Information Technology". It covers:
1) What ethics is and why it's important to act according to a code of ethics.
2) Why business ethics is becoming increasingly important and what organizations are doing to improve ethics.
3) Why organizations are interested in fostering good business ethics such as gaining community goodwill and avoiding legal issues.
This document provides an overview of ethics and discusses why ethics are important, especially in business. It defines ethics as a set of beliefs about right and wrong behavior. Organizations are increasingly focused on ethics due to trends like globalization and heightened scrutiny. Fostering good ethics is important for an organization to gain community trust, operate consistently, encourage good practices, avoid legal issues, and prevent bad publicity. Methods for improving ethics include appointing an ethics officer, establishing ethical standards, and creating an organizational code of ethics.
Ethics addresses concepts like good and evil, right and wrong, and justice. It studies universal values that should govern interactions between people, businesses, and the environment. Ethics provides principles that extend to all human activities and spheres, identifying acceptable conduct. Businesses have a responsibility to improve lives through wealth creation while respecting ethics and obligations to customers, employees, shareholders, suppliers, competitors, communities, and the environment. All members of a business must uphold ethics for credibility, decision making, and long term success.
Ethics addresses concepts like good and evil, right and wrong, and justice. It studies universal values that should govern interactions between people, businesses, and the environment. Ethics provides principles that extend to all human activities and spheres, identifying acceptable conduct. Businesses have a responsibility to improve lives through wealth creation while respecting ethics and obligations to customers, employees, shareholders, suppliers, competitors, communities, and the environment. All members of a business must uphold ethics for credibility, decision making, and long term success.
The document discusses the importance of business ethics and outlines a timeline of increasing focus on ethics from the 1960s to today. It notes that studying business ethics is important for businesses to identify ethical issues, maintain stakeholder trust, and contribute to employee commitment, investor loyalty, customer satisfaction, and ultimately profits. Unethical behavior is on the rise globally and regulations like Sarbanes-Oxley have aimed to establish stronger ethical standards and oversight within organizations.
Here are my responses to the discussion questions:
1. No, it is not acceptable to give your boss a Rs 5000 gift to celebrate a birthday or holiday. That amount could be seen as an attempt to curry favor or gain an improper advantage.
2. No, it is not acceptable to accept a Rs 5000 gift from your boss to celebrate a birthday or holiday. Accepting expensive gifts from someone you report to could compromise your independence and objectivity.
3. Yes, there is an ethical problem with using your employer's copier for personal use without permission. Using company resources for personal benefit without approval constitutes misuse of company property.
4. Yes, it is wrong to browse the internet excessively while at
The document summarizes key points from the first chapter of the textbook "Ethics in Information Technology". It discusses the importance of ethics in business and outlines several approaches that organizations take to foster ethical practices, including appointing an ethics officer, establishing a code of ethics, conducting ethics training, and including ethics in decision-making processes. It also overviews common approaches to ethical decision-making such as the virtue ethics, utilitarian, fairness, and common good approaches.
This document discusses the importance of business ethics. It traces the rise of business ethics as a field from the 1960s onward, as societal concerns about businesses grew. It notes that today, business decisions are under great scrutiny after the global financial crisis eroded stakeholder trust. The document argues that practicing ethics in business contributes to employee commitment, investor loyalty, customer satisfaction, and profits. Ethical businesses benefit from efficiency, productivity and profitability due to stronger organizational climates and satisfying stakeholders' interests.
This document provides an overview of business ethics and social responsibility. It discusses how individuals develop personal ethics and why ethics are important in the workplace. It also defines social responsibility, identifies key organizational stakeholders, and describes approaches to social responsibility including obstructionist, defensive, accommodative, and proactive stances. The document outlines how social responsibility applies to a firm's relationships with customers, employees, investors, suppliers and local communities.
This document discusses the concepts and history of corporate social responsibility (CSR). It defines CSR as companies voluntarily contributing to society and the environment through business activities and social investments. The concept of CSR gained popularity in the 1990s when a German pharmaceutical company implemented CSR strategies to differentiate itself. The document outlines the economic, legal, ethical, and discretionary responsibilities that make up CSR and examines arguments for and against companies adopting CSR practices. It concludes that CSR should demonstrate a commitment to societal values by addressing issues caused by business operations.
This document discusses social responsibility and ethics in business management. It covers topics such as defining social responsibility, factors that influence ethical behavior, green management, and ways for organizations to encourage ethical conduct. Management's role in social responsibility involves considering stakeholders, the environment, and encouraging ethical decision-making through codes of conduct, leadership, and training. Current issues include managing lapses in ethics and social responsibility in the workplace.
The document defines various business and economic terms including stockholder, economist, creditor, stakeholder, oligopolistic market, monopolist, monopoly, perfect competition, quota, embargo, import duty, currency devaluation, partnership, joint stock company, limited liability company, sole proprietorship, countertrade, dumping, antidumping, trade deficit, trade surplus, consumerism, corporate governance, social audit, corporate social responsibility, entrepreneur, angels, syndicate, cost leadership, niche, differentiation, deficit, breakeven, budgeting, amortization, retail, wholesale, warehouse, agency, business environment, and public limited company. It also provides the top 10 methods for raising capital for a small business.
The document discusses the planning process used by managers. It describes the three main stages of planning as determining the organization's mission and goals, strategy formulation, and strategy implementation. It also discusses different levels of planning including corporate, business unit, and functional levels. The planning process involves determining the organization's mission, analyzing the situation through tools like SWOT analysis, and developing strategies and plans at different levels to achieve the mission and goals.
This document provides an overview of organizational structure and design. It defines key terms like organizational structure, organizational design, and departmentalization. It discusses traditional elements of structure like work specialization, chain of command, and span of control. It also covers contemporary structures like mechanistic versus organic designs and contingency factors that influence structure. Finally, it examines common traditional designs like simple, functional and divisional structures and contemporary designs. The overall document serves as a chapter outline and introduction to concepts of organizational structure and design.
The three sentence summary is:
The document provides an orientation day plan for COMSATS Institute of Information Technology, Lahore on Sunday February 3rd 2013 which includes a morning combined orientation session followed by departmental orientation sessions and refreshments from 11:00 AM to 12:30 PM and a campus tour from 12:30 PM to 1:00 PM before buses leave at 1:00 PM.
The combined orientation session includes tilawat, welcome address, and an address by a Lancaster University representative, while the departmental orientations involve distributing student folders and ID cards, a presentation to students, and a Q&A session.
The document is a timetable for courses in the FA12-BPSY-A semester at CIIT Lahore. It lists the courses, times, days, locations, and instructors for psychology and related classes across 7 time periods from 8:30-19:30, Monday through Friday. Courses include Foundations of Psychology, Lab-Foundations of Psychology, Introduction to Sociology, Functional English, Creative Thinking and Decision Making, and Pakistan Studies.
The document provides the academic calendar for the Fall Semester of 2012 at COMSATS Institute of Information Technology in Lahore, Pakistan. It includes important dates for undergraduate and graduate students such as orientation, start and end of classes, exams, financial assistance deadlines, Eid holidays, and result declaration. Key events for graduate students include thesis submission and presentation deadlines. The calendar provides a comprehensive schedule of academic activities for the semester.
The document provides an overview of management information systems and information technology in business. It discusses the history of IT and how it has evolved from manual transactions to modern business software, computer communications, data warehousing, and business intelligence tools. It also describes how physical and virtual (information) resources are used by businesses to address problems and pressures. Information systems are presented as virtual systems that represent and control physical systems in organizations.
The document is a chapter from a business management textbook. It covers the key concepts and terms related to business management, including the four functions of management (planning, organizing, leading, controlling), types of managers, strategic management process, goal setting, and corporate culture. The chapter aims to help students understand management roles and responsibilities, develop management skills, and assess management effectiveness in organizations.
This document provides instructions for Assignment #2 for the course MGT 100 Introduction to Business. It includes 2 questions - the first asks students to find an organization chart and identify job titles at the top, middle, and first line management levels. The second questions asks students to interview a local manager to learn about their management functions, roles, and necessary skills. The assignment is for program SP12-BECO-B4-A and is worth a maximum of 10 marks.
1) Economists separate the impact of a price change into a substitution effect and an income effect. The substitution effect is due to changes in relative prices, while the income effect results from a change in purchasing power.
2) Hicks developed a method to isolate the substitution and income effects. It involves finding the optimal bundle if only relative prices changed (substitution effect) and if only real income changed (income effect).
3) Slutsky developed an alternative method using a compensating variation in income to hold purchasing power constant and isolate the substitution effect.
4) For normal goods, the substitution and income effects reinforce each other, leading to a downward sloping demand curve
This document summarizes a research paper that investigates the crowding-out effect of public borrowing on private investment in Pakistan. It begins with an introduction that provides background on Pakistan's reliance on borrowing to finance budget deficits and discusses the potential crowding-out effect. It then reviews relevant literature on crowding-out/in effects in various countries. Studies on Pakistan have found both crowding-out and crowding-in effects. The document outlines the theoretical framework and econometric techniques used in the research paper. It finds that the results do not support the crowding-out hypothesis in Pakistan and instead provide evidence of crowding-in, potentially due to market imperfections and excess liquidity. The implications are important for Pakistan
The chapter discusses improving business writing by making it audience-oriented, purposeful, and economical. It outlines an effective writing process of prewriting, writing, and revising. When selecting a communication channel, factors to consider include the importance and speed of feedback required, cost, and formality. The chapter provides tips for using positive and inclusive language, developing reader benefits, and avoiding negative expressions or hidden messages.
Pakistan faced numerous challenges after gaining independence in 1947, including:
1) Determining whether it would be a secular state or an Islamic state governed by sharia law.
2) Distributing power between the central and provincial governments, which eventually led to East Pakistan seceding to become Bangladesh.
3) Managing the violence and massive refugee crisis that accompanied the partition, with up to 24 million people displaced and hundreds of thousands dead.
4) Establishing political and economic stability despite the division of the new country into two wings over 1,600 km apart, lack of infrastructure and personnel for government, and loss of major economic partners and trade routes.
This document provides a historical overview of the origin of Pakistan. It discusses the various dynasties that ruled the Indian subcontinent prior to British rule, including the Mughal Empire. It then outlines the rise of European intervention led by the East India Company and the establishment of British Raj. Key events and movements leading to the eventual partition of India and creation of Pakistan in 1947 are also summarized. The document concludes by examining several explanations and theories regarding the formation of Pakistan.
The document defines investment as expenditures on capital goods like machinery, plants, and buildings purchased by firms for production. It also defines gross and net investment. It then describes six macroeconomic roles of investment such as increasing current demand and production capacity. The document classifies investment by sector (firms, households, public) and degree of directness to sales. It also discusses the relationship between interest rates and the investment level/function, as well as autonomous versus induced investment.
The document defines investment as expenditures on capital goods and the accumulation of machinery, plants, and buildings by firms for production. It discusses gross investment, net investment, the roles of investment in the macroeconomy, and how investment is classified by directness and sector (business, household, public). It also covers the relationship between interest rates and the investment level/function, different types of investment (autonomous, induced), and factors that influence induced investment.
The document defines investment as expenditures on capital goods like machinery, plants, and buildings purchased by firms for production. It also defines gross and net investment. It then describes six macroeconomic roles of investment such as increasing current demand and production capacity. The document classifies investment by sector (firms, households, public) and degree of directness to sales. It also discusses the relationship between interest rates and investment, and defines autonomous and induced investment.
The document defines investment as expenditures on capital goods like machinery, plants, and buildings purchased by firms for production. It also defines gross and net investment. It then describes six macroeconomic roles of investment such as increasing current demand and production capacity. The document classifies investment by sector (firms, households, public) and degree of directness to sales. It also discusses the relationship between interest rates and the investment level/function, as well as autonomous versus induced investment.
The document defines investment as expenditures on capital goods like machinery, plants, and buildings purchased by firms for production. It also defines gross and net investment. It then describes six macroeconomic roles of investment such as increasing current demand and production capacity. The document classifies investment by sector (firms, households, public) and degree of directness to sales. It also discusses the relationship between interest rates and the investment level/function as well as autonomous versus induced investment.
Inflation is defined as a persistent increase in the average level of prices. There are different types of inflation based on rate of increase: creeping inflation (under 2% annually), walking inflation (around 5% annually), running inflation (8-10% annually), and galloping or hyper inflation (over 200% annually lasting over a year). Inflation can cause social tensions, money illusion, macroeconomic consequences, uncertainty, speculation, bracket creep, and deflation dangers. It is measured to gauge the average rate and identify victims. The main causes are demand-pull inflation from excessive demand, and cost-push inflation from higher production costs putting upward pressure on prices.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
When we explore the concept of ethics in the workplace, we need to examine four different areas: These include ethics, or beliefs about what is right and wrong or good or bad. In addition we need to examine ethical behavior, which is behavior conforming to individual beliefs and social norms about what’s right and good. What is unethical behavior? It is behavior confirming to individual beliefs and social norms about what is defined as wrong and bad. In order to succeed in business, we need to address the ethical or unethical behavior by employees in the context of their jobs. Teaching Tips: In your student team, please develop a list of 5 examples of ethical behavior and 5 examples of unethical behavior in the workplace. Answers will vary.
How does an individual develop a code of personal ethics? Here are some answers: First, a person can develop personal values through their own childhood responses to adult behavior. An example could include seeing parents yell at each other or at their children whenever something goes wrong in the household, whenever the child does not do something the parent likes, etc. By doing this, the child internalizes that whenever anything bad happens, they should yell or scream at the other people in their lives. On the opposite side, if children see that whenever they make an honest mistake or make an error, their parents correct them and demonstrate the appropriate behavior and give them a hug, then in the future, these children probably would be more patient with others when they make mistakes, correct them in an even tone, and show empathy. People may also be influenced by their peers, whether they are other children, teenagers or adults. For example, in middle school, one of the teens in a group of friends gets some cigarettes. They go behind the school and start smoking, then offer the cigarettes (or yes, it could be weed!) to their friends. The friends think it is cool and so they try it too. They may continue the behavior because they think it makes them look better in front of their friends. Adults do the same thing. They may see their friends buying new cars, new furniture and other things, and adults think they need to buy the same type of things, even though they may not have the money. Instead of paying cash, they use credit cards, and end up with a huge credit card balance they cannot pay. Other experiences in adulthood can also impact an individual’s values or codes. For example, an adult may decide they love working for their employer, and offer to stay late and work harder, but then when it comes time for a promotion, they are overlooked by someone who may have offered favors or friendship to the boss. The hard worker may begin to think it is not worth it to work hard. Of course, all of the above develop morals and values in a person. These are the foundation for their behavior both personally and within the workplace. Their morals and values seem correct to the individual, and so employees may need special attention or training if they come from another culture, where, for example, it is OK to stand very close to other people, while in the U.S. culture, people like to have about 3 feet of personal space around them in a business setting. Teaching Tips: Using your example from our last exercise, please remain in your teams and write down the possible source or personal code of ethics that might cause the ethical or unethical business behaviors you shared with the class. Once you have discussed these, we will share them with the class. Answers will vary but will include religion, family upbringing, culture or subculture, social class and income levels, etc.
Managerial ethics are the standards of behavior that guide individual managers in their work. Ethics can affect a manager’s behavior toward: Employees: For example, in a case in which an employee is constantly late for work, if a manager’s ethics include perfection in attendance, this could present an issue. The organization: For example, if the organization is very open and wants employee suggestions, this could cause discord for employees reporting to a manager who is not accustomed to this type of input. Other stakeholders or economic agents such as customers, competitors, stockholders, suppliers, dealers and unions: For example, a manager may have developed a certain communication style across his or her career, and may have a specific manner of dealing with such agents, or may hold them as equals or as outsiders. Ethical concerns that should be considered when addressing business situations can include many issues. Let’s look at two examples: Ambiguity: When an organization is not performing as well as its investors would like, the manager may consider not disclosing, or hiding, certain financial information. There have been many examples of this during the past ten years. Global variation in business practices: When an organization does business in another country, especially Latin America, it can be quite common to have to bribe a government official or pay a little extra money to an agent to get permits, get shipments through customs, etc. While this is illegal under U.S. law and the Foreign Corrupt Practices Act, this cannot be avoided in some countries, such as the Jeitinho in Brazil, which is more like a personal favor payment to “find a way” to make the transaction move forward more rapidly. Many Latin American countries, such as Paraguay, have taken a hard stance against such practices. The police, for example, used to make extra money by stopping cars on the road just to search for something that might be wrong. In so doing, they would ask for bribes to allow the person to pass. There were strikes and some rebellion, but now this practice has for the most part been eliminated. Teaching Tips: In your same student teams, please choose one of the three areas where a manager’s ethics could have an impact (employees, the organization or other economic agents), and take a few minutes to apply the ethical codes you discovered in our last exercise. Discuss how these might impact the group you choose (i.e., employees, the organization or other economic agents). We will then discuss this topic as a whole class. Answers will vary based on responses to the last two exercise. Be sure to refer back to the answers from the last two exercises, as well as the examples you provided in this slide when weighing student response. Now that you have an understanding of some of the ethical concerns faced by businesses and organizations, please answer the following questions based on your own values and ethics: “What would you do if your manager asked you to force billings for sales of a new product in your territory in order to make the sales numbers look better for this quarter?” Answers will vary based on individual values, but of course the correct answer should be that the sales should only be reported specifically when the sale occurs. Sometimes customers may ask to be pre-billed for consulting work because it is included in their budget for the current fiscal year. In some cases the manager will have to accept the billing and the funds, but can place the funds received into an “escrow” account, and only report the actual sales when the work occurs.
Let’s look at some simple steps in applying ethical judgments: First, it is important to gather the relevant factual information. This could include the example of a customer requiring a billing prior to work being provided in a consulting situation. Second, we need to analyze the facts to determine the most appropriate moral values to apply. In our example of the prepayment for consulting fees, we find that the customer’s fiscal year is ending, they have budgeted the money for this year, and will lose it if the billing is not presented by your firm right now, and your firm will lose the opportunity for this work. And finally we will make an ethical judgment based on the rightness or wrongness of the proposed activity or policy. In our example, we could say it is wrong to accept money for work we have not yet performed. However, we can bill the customer in advance, noting this on the invoice. When the money is received, we can create an “escrow” account in our accounting system and place the funds there, like a pre-paid receivable, and as the work is performed per a plan we have submitted to the client, which the client has approved, we internally bill the work and send a client a report on hours worked against their prepayment for services. Teaching Tips: In your teams, please think of an example of a business situation that may require an ethical assessment. Then apply the three steps we have just reviewed to the problem. We will then share the situations with the class. Answers will vary based on the situation, but make sure the student teams apply the three steps you reviewed in this slide to the situation, and assist them or have the class assist them in determining the most appropriate ethical business behavior.
Now let’s examine the Ethical Norms that we can use when gathering information. We can examine the issue we are facing in terms of: Utility: Utility answers the question, “Does a particular act optimize the benefits to those who are affected by it?” and the question, “Do all relevant parties receive ‘fair’ benefits?”. Rights: Rights answers the question, “Does the act respect the rights of all individuals involved?”. Justice: Justice answers the question, “Is the act consistent with what’s fair?”. Caring: Caring answers the question, “Is the act consistent with people’s responsibilities to each other?”. If we return to our example of the prepayment for consulting services by one of our customers, let’s apply these four ethical norms: Utility: The answer to these two questions is yes in this case. The customer receives the ability to deduct the expense during his or her current fiscal year and the consulting firm receives the revenue. Rights: The answer to this question is yes. The fiscal calendar year of the customer is respected as is the right for the consultant to receive payment. Justice: The answer is yes because the customer is paying a fair price, and is just paying in advance. The consultant is receiving payment in advance for agreed-upon services. Caring: The answer is yes because the consultant is putting the money in “escrow,” or is holding it and only taking it into its books as it provides the services, while the customer is receiving the right to pay in advance and thus take a tax advantage during the current fiscal year. Teaching Tips: Please join again with your same class team. In your team please refer back to one of the ethical issues you picked in our earlier discussion. Please discuss your example through the use of these norms. Let’s share our examples with the class. Answers will vary but can build upon examples presented earlier in this slide.
Let’s discuss the concept of social responsibility. Social responsibility is the overall way in which a business attempts to balance its commitments to relevant groups and individuals, or stakeholders, in its social environment. Who are stakeholders? They include groups, individuals, and organizations that are directly affected by the practices of an organization and therefore have a stake in its performance. Teaching Tips: Please form a team with a different student in the class. In your team, please discuss one way in which a business could act in a socially responsible manner. Please discuss which type of organization stakeholder might be affected by the social responsibility of the company. Answers may vary, but could include addressing local pollution with a group of citizens who are impacted by the pollution; donating a portion of the organization’s profits to a group of people who are in need, such as the homeless, AIDS victims in Africa, etc.
Major corporate stakeholders include the following: Customers: Businesses work to treat customers fairly and honestly. For example, car dealers are required to disclose financing deals to customers within their advertising. Employees: Businesses treat employees fairly, make them feel like they are part of the team, and respect their dignity and basic human needs. For example, a multinational corporation would commit to paying fair wages to employees in third-world developing countries and to not allowing children to work in sweat shops. Investors: Businesses follow proper accounting procedures, provide information to shareholders about financial performance and protect shareholder rights and investments. For example, a large publicly held consulting firm would report the prepayment for services by their customers as a pre-paid receivable asset in its accounting statement to shareholders. Suppliers: Businesses emphasize mutually beneficial partnership arrangements with suppliers. For example, Mercury SUVs promote the fact that they have Microsoft Sync technology in their vehicles. Microsoft is a supplier to Lincoln Mercury. The local and international communities in which the company operates: Businesses try to act in a socially responsible manner. For example, Microsoft has established the Bill and Melinda Gates Foundation, which offers medical assistance to eliminate malaria in Africa and meeting other United Nations Millennium Goals. Teaching Tips: In your student teams, please choose one stakeholder and one ethical issue that might affect that particular stakeholder. Discuss how the company should act toward the stakeholder your team has chosen. We will then share these with the class. Answers will vary but must include one of the five stakeholders discussed in this slide and can build on examples provided or contain additional examples of social responsibility to different stakeholder groups.
Accountability is important in this electronic age. It is the expectation of an expanded role for business in protecting and enhancing the general welfare of society. What does this mean? It could mean, for example, that a company has a duty to place information on its website about product content, potential side effects from its use, or potential harm that could come if the product is not used properly, like not following directions for use or instructions on installation or assembly. Teaching Tips: In your teams of two, please choose an example of how an organization could protect or enhance the general welfare of society. After your team discussion, you will share your examples with the class. Answers will vary but could expand on other ways an organization could be accountable for society such as product packaging, health warnings, labeling, assembly instructions, etc.
Responsibility toward the environment is an important area of social responsibility for an organization. This can include: Properly disposing of toxic waste from manufacturing processes. Engaging in recycling of materials. This could include making sure computers that are outdated are recycled through appropriate state-level, prison-industry recycling programs. Green marketing, which includes the marketing of environmentally friendly goods such as power saving computers and monitors, flex fuel vehicles, etc. Such strategies can include a number of practices including: Production processes. Product modifications, such as the addition of flex fuel capabilities for cars. Carbon offsets that reduce the carbon footprint consumers and producers leave on the planet. Packaging reduction, for example, eliminating the foil wrapper from Hershey candy bars and just using paper. Sustainability, such as a product that is made from recycled plastics. Green marketers need to be aware of “green washing” or the use of advertising to project a “green” image without substantially altering the processes or products they produce. The Federal Trade Commission started holding hearings in January 2008 regarding false green marketing claims. Teaching Tips: What is an example of a product that uses “green washing”? BP was accused of promoting its company as being environmentally friendly with no backing for that claim. The company was charged in 2000 with not disclosing that a subcontractor was dumping toxic waste in Alaska. Other examples from the BP case in the introduction to this chapter can also be presented as well as other examples from current affairs. In your student teams, choose one of the “green marketing” strategies and practices we have just discussed and provide an example. We will then share the examples with the class. Answers may vary but can include those from the slide or those presented in the text.
Other examples of areas of social responsibility for a company include: Responsibility toward customers: This involves providing quality products and pricing products fairly. Consumerism: This includes social activism dedicated to protecting the rights of consumers in their dealings with business. The basic consumer bill of rights, which includes the rights: To possess safe products. To be informed about all relevant aspects of a product. To be heard. To choose what to buy. To be educated about purchases. To receive courteous service. Teaching Tips: In your student teams, choose one of the basic rights of consumers presented in the basic consumer bill of rights. Then in your team, discuss three products that have or have not granted that right to consumers. Also discuss how they did or did not accomplish providing this right. Answers will vary.
Two other areas of social responsibility include unfair pricing and ethics in advertising. 1. Unfair pricing includes: Collusion: Collusion occurs when two or more firms agree to collaborate on such wrongful acts as price fixing. This practice has been outlawed for years by the Robinson-Patmann Act. An example is when airlines charge the same fare to the same destination. Price gouging: This occurs when businesses respond to an increased demand with overly steep and often unwarranted price increases. Anytime there is a natural disaster or act of war, stores may engage in this practice by allowing the demand for the products they have within their stores to drive prices much higher than would be normal for certain items. 2. Ethics in advertising includes: Providing truth in advertising, and not making false claims when stating product benefits. Avoiding morally objectionable advertising such as ads for women’s undergarments, condoms, etc. Teaching Tips: In your student teams, please list an example of unfair pricing and ethics in advertising. Discuss the strategies that were applied and be prepared to discuss these with the class. Answers will vary based on the product or company chosen, but must include either collusion or price gouging, such as occurred after Hurricane Katrina . Answers to the ethics in advertising issue must deal with truth in advertising or morally objectionable advertising. These answers could include examples from the text such as Victoria’s Secret ads, ads for condoms or ads promoting sexuality.
Responsibility toward employees and investors includes both legal and social commitments to: Not practice illegal discrimination in hiring, job duties, firing, etc. Provide a physically and socially safe workplace, meeting OSHA and the Americans with Disabilities Act standards. Provide opportunities to balance work and life, such as providing fitness opportunities at work or memberships at gyms. Provide protection for whistleblowers (an employee who discovers and tries to put an end to a company’s unethical, illegal or socially irresponsible actions by publicizing them with the media). In addition, responsibility toward investors includes: Proper financial management, including no insider trading. Proper representation of finances, such as we discussed earlier in our prepaid consulting services example. Teaching Tips: In your student teams please choose one of the legal or social commitments toward employees and provide an example of it. We will share these with the class. Answers will vary, but need to be from one of the above mentioned legal and social commitments. Please give an example of insider trading. What is it and who has done this? One answer could be trading securities or stocks with knowledge of upcoming financial reports prior to their release to the public. Martha Stewart is an example of someone who was convicted of insider trading.
There are arguments for and against an organization’s implementation of a social responsibility program. Let’s first examine the arguments against implementation of social responsibility programs: The cost of social responsibility programs threatens profits. Or, essentially, why should we spend money we don’t have to? This is truly a short-term business perspective. The business or organization would have too much control over which programs would be addressed and how they would be addressed. In this argument, people believe that business would not choose the most appropriate socially responsible project to fund, and only fund those that enhance its image and reputation. The business or organization lacks expertise in social responsibility matters. There is a new trend toward what is called “philanthrocapitalism,” whereby businesses are learning how they can apply their for-profit frameworks to the non-profit sector. Next we will examine the arguments for the implementation of social responsibility programs by business: Social responsibility should take precedence over profits. Corporations as citizens should help others, or those less fortunate. Corporations have the resources to help. This is true of many multinational corporations. Examples include Warren Buffet and Bill Gates and the combining of their foundations to address those less fortunate. Corporations should solve problems they create. This position believes that corporations will continue to cause problems or continue to be socially irresponsible, and hence need to implement social responsibility programs to fix what they have broken. It is important to note that the United Nations developed its Millennium Development Goals (http://www.un.org/millenniumgoals/), which were formed to end world poverty and hunger by 2015. There are eight specific goals to achieve the overarching development goal. The eighth goal specifically addresses the development of partnerships with businesses and other organizations to assist in meeting employment goals to help end poverty and thus hunger. Teaching Tips: In your student teams, please choose an argument either for or against the implementation of social responsibility programs and choose an example from current or past business news that supports your position. We will then share our team positions with the class. Answers will vary but should show direct evidence to the arguments for and against implementation of social responsibility programs as stated above in this slide.
These different arguments for or against social responsibility programs by businesses take four stances. Let’s examine them: Obstructionist stance: With this stance, the company does as little as possible and may attempt to deny or cover up violations. Defensive stance: In the defensive stance, a company does everything required of it legally, but no more. Accommodative stance: A company taking an accommodative stance meets its legal and ethical requirements and also goes further in certain cases. Proactive stance: With this stance, a company actively seeks to contribute to the well-being of groups and individuals in its social environment. Let’s take a look at this from a visual standpoint.